Episode 60: Randy Coffin of Coffin & Trout Fine Jewelers
Randy Coffin is the President of Coffin & Trout Fine Jewelers. Randy has worked in the industry of jewelry design and craftsmanship for many years. He started out as a bench jeweler in 1975. He was inspired to start his jewelry career from an early exposure to fine arts, and an interest in using his God-given talents to design and create amazing works of art. Randy and his business partner David Trout met in 1979. They had an instant connection as they noticed similarities in each other’s beliefs on what jewelry could be.
In our conversation today, we get into construction, customer service, and a myriad of other tips on running a jewelry business.
Listen in as Randy discusses how to build a strong reputation in the jewelry industry, what he looks for in a diamond, working and nurturing trust with suppliers and customers, his passion for colored gemstones, and how he takes a client’s vision from idea to reality.
Topics Discussed:
04:06 How to become an expert in grading a diamond
08:14 What it means to “sell jewelry on consignment”
10:28 Building a strong reputation to gain the trust of suppliers in the jewelry industry
12:17 What Randy looks for in a diamond
18:54 Natural versus lab-created diamonds
22:34 Building a jeweler’s supply chain
25:52 How Randy developed a trustworthy reputation in the business
29:04 How Randy evaluates potential suppliers
36:12 Creating long-term relationships with your customers
37:41 Going above and beyond as a business owner
40:41 Randy’s process from meeting the customer to delivering the final product
50:17 How Randy keeps his staff happy
53:52 Working with prestige companies like Rolex to acquire custom pieces for clients
56:43 Randy on his passion for charity
59:09 Randy talks about a few unique pieces he brought in
Connect with Coffin & Trout Fine Jewelers:
Connect with Brad Leavitt:
Resources Mentioned:
Key Quotes by Randy:
It’s not always the most expensive diamond that stands out.
I don’t have any problems with lab-created diamonds; but I’d just say, “Buyer beware.”
Be consistent and follow the practices that you would want others to follow. Go above and beyond.
One of the value-adds for me and my business, and one of the things that I’ve enjoyed more than anything else, is that whole customer relations thing. I’ve met more people than I can tell you that I’d either gone to dinner with, in many cases traveled with, or gone to their homes in another state, or fly-fished with. I’ve made more friends in my business than outside my business by far.
