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Meet Todd Latson of US Diamond Traders

Today we’d like to introduce you to Todd Latson.

So, before we jump into specific questions about the business, why don’t you give us some details about you and your story.
I started in the jewelry industry in 2001 as sales support for a big box retailer. In 2004, I went to work for a high-end jeweler in Buckhead before being recruited by a diamond wholesale company in 2006. From 2006-2010 I was a sales rep servicing independent jewelry retailers throughout the southeast. I left the jewelry industry when my son was born so that I would be able to be home more often. In 2012, I decided to get back to the industry and I got a small loan from a friend. While the loan was not enough to open the full-service jewelry store of my dreams, it was enough to begin working towards that goal. This was during the “gold rush” when spot gold prices were at an all-time high and everyone wanted to cash in their unwanted and broken gold and diamond jewelry. Together, we started a gold buying company located in Suwanee, GA called Gold Buyers Direct. By the second year in business, the company was doing well enough that I was able to buy my partner out and began working on the ultimate goal of starting a full-service jewelry company which is now US Diamond Traders.

Has it been a smooth road?
I don’t believe that being an entrepreneur is ever a smooth road. Every day presents a new challenge and each decision you make is another gamble. I did not graduate from a major college with an MBA but I assure you, I have paid for my education with the mistakes that I have made in business along the way. Each decision from what inventory to purchase, which employees to hire, how and where to spend marketing dollars, can move you forward or set you back.  Especially in an industry like mine where your money doesn’t go very far, learning from those decisions, whether positive or negative, is critical.

We’d love to hear more about your business.
US Diamond Traders is a diamond and fine jewelry company serving both the wholesale and retail sectors. As a private jeweler working by appointment, we are able to continue to keep our overhead down so that the savings can be passed on to our clients.

Another major area that separates us from others is our purchasing and consignment services. While working as a sales rep for a diamond wholesaler I learned to purchase diamonds and fine jewelry from the public. Individuals often have a need to sell their diamonds be it due to a divorce, a death in the family, an unexpected illness, or any number of other major life events.

While the company I was working for was regularly the highest offer around, I knew that there was still room to pay even more. The general public needed a better way to sell. They needed someone who would educate them on their item and show them how it fit into the current state of the diamond market. We began to do something unheard of in the industry. We began showing clients the actual cost of their diamond. Much like a real estate appraisal, showing comparable listings of similar diamonds so the client would have all the information necessary to be able to make the best decision for themselves, even if that decision meant not selling to us. We understood that being transparent, open, and honest about a client’s diamond, was just right. And it turns out, its right for business as well. We see time and time again that what clients really want is someone who they can trust, and that is exactly what we want to be for them.

We took this same mindset to our retail clients when selling them a diamond or jewelry item as well. While we do have a vast inventory of loose diamonds, it is impossible to stock everything, so we began to open up our network of hundreds of relationships that we have made over the years, allowing retail clients to have the same access to wholesalers worldwide. While it is not uncommon for a jewelry store to show and sell another companies diamond, what is rare is showing their cost. But we knew from our experience in purchasing, that it works. Being completely transparent about our cost and our profit margin sounds crazy to some, but what we found is customer loyalty, clients don’t want the cheapest diamond, they want honesty. To know that they are being treated fairly, and when they are, they are happy to pay you a fair and reasonable profit.

Is our city a good place to do what you do?
Atlanta and the surrounding areas have been great for our company. Not only in terms of the number of people who live and work here, but in the diversity of those people. Each client is different, with different concerns and needs, but all have the same thing in common. They all want to do business with someone they can trust. Someone they can build a relationship with and continue doing business for years to come.

Contact Info:

  • Address: Buckhead, Duluth, Cumming.
  • Website: www.USDiamondTraders.com
  • Phone: 678-528-0049
  • Email: Todd@USDiamondTraders,com
  • Facebook: US Diamond Traders

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