Silverman traces its origins to a business founded 60 years ago by three brothers: Manny, Lou, and Jack Silverman. They specialized in conducting promotional sales for retail jewelers and helped retailers achieve a high volume of sales during slow volume portions of the year. This was accomplished through innovative and skilled sales and advertising techniques not within the scope of most retailers. During the next sixty years the business refined its sale techniques and methods of obtaining maximum results from the liquidation of under-performing assets. They established a staff of highly skilled sale supervisors who conducted the sales on the store premises. The supervisors came from the jewelry industry, usually as former store operators or owners. The nature of the business changed to concentration on store termination sales. As retail jewelers left their traditional downtown locations for suburban malls, they found they could not find buyers for their downtown locations. Silverman showed them how a successful sale could generate returns in excess of what any potential buyer was willing to pay. Many sales were conducted to liquidate inventories due to financial distress, often involving settlements with creditors, bankruptcy reorganization and bankruptcy liquidation sales. Silverman’s reputation grew in this area and the sources of their sales expanded to include jewelry storeowners experiencing financial difficulties. During the 80's and 90's business began to flourish as Silverman's reputation for effectiveness and integrity became well known throughout the jewelry industry. Silverman also expanded it's services to include wholesale buying and selling of jewelry lots, and in preparing detailed inventory evaluations and appraisals for financial institutions and jewelers looking to improve their advance rates with their existing lenders. |
