April 10, 2025 • 24 mins
Two-time Emmy and Three-time NAACP Image Award-winning television Executive Producer Rushion McDonald interviewed Nidhi Singhvi.
She is the co-founder of Sonalore Fine Jewelry, an innovative eTailer revolutionizing the fine jewelry industry. Sonalore’s groundbreaking "Lifetime Buyback Promise" allows customers to sell back their gold jewelry for cash or credit at market value—anytime, with just one click. With the price of gold steadily rising, Nidhi shares her insights on why fine jewelry is more than just luxury—it's a smart investment. Tune in for this priceless conversation on wealth-building, innovation, and the future of fine jewelry! Sonalore is an innovative eTailer transforming the fine jewelry sector with a "Lifetime Buyback Promise," allowing consumers to sell back their gold jewelry for cash or credit anytime at market value—with just one click. Unlike designer duds that don't trade as a commodity, Sonalore pieces are crafted to appreciate, blending beauty with asset accumulation. With transparent pricing, ethically sourced materials, and 65-70% of each purchase going directly into gold and gemstones (instead of the egregious industry-standard markups), Sonalore is combining luxury accessories with financial freedom, well-suited for savvy shoppers that appreciate utmost flexibility, sustainability and value. Gold is beautiful to wear, but also a great investment to keep...be it a gold bar, a stunning bracelet or even a broken chain, each gram of gold is precious. Unlike designer bag, sneakers and other style staples, gold is traded as an asset across the world and its value increases steadily over the years.
#BEST
#STRAW
#SHMS
Support the show: https://www.steveharveyfm.com/
See omnystudio.com/listener for privacy information.
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Hi. I am Rashan McDonald, a host of weekly Money
Making Conversation Masterclass show. The interviews and information that this
show provides are for everyone. It's time to stop reading
other people's success stories and start living your own. If
you want to be a guest on my show, please
visit our website, Moneymakingconversations dot com and click the be
a Guest button. Press submit and information will come directly
(00:23):
to me. Now, let's get this show started. My guess
is the co founder or fine jewelry company that she's
gonna tell you in a minute, because I don't want
to mess up the name. It's an innovative etailer that
if you've been reading, if you google it, it's popping
up everywhere. They transform the fire jewelry sector with a
lifetime buy back promise. Did you hear what I said?
(00:44):
A lifetime buy back promise. This allows consumers to sell
back their gold jewelry for cash or credit anytime at
market value with just one click. Please, she's here to
tell us all about it. Please Welcome to the Money
Making Conversation and master Class. Nitty sing the How are
you doing, Nitty?
Speaker 2 (01:04):
I'm very good? Thanks for having me first.
Speaker 1 (01:06):
Of all, where are you calling from.
Speaker 2 (01:08):
I'm calling from Palo Alta, California.
Speaker 1 (01:11):
West Coast, West Coast, West coast. Tell me when you
say jewelry, you know watches can be jewelry, ear rings, rings, necklaces,
jew as a couplelinks you know to be considered jewelry.
So when you say jewelry, please help me out with
that definition first.
Speaker 2 (01:32):
So currently, in the narrow definition, jewelry is basically whatever
you wear like you know, metal wise, or it could
be it could be a fine jewelry, or it could
be fashion jewelry, but anything that you were to feel good,
look good, and it could be an emotional statement that
(01:54):
you're wearing. What Sonore wants to.
Speaker 1 (01:58):
Do with which is the name of your company?
Speaker 2 (02:00):
That's the name of a company. Yes, we want to
turn this emotional statement into a financial statement as well.
You're wearing your wealth when you're wearing jewelry.
Speaker 1 (02:11):
Wow, I never saw it that way. So if I
buy the right coupling, I can wear my wealth as
well as wear a jewelry because I never saw I'll
be honest with you, I never saw jewelry as an
investment in my mind. You know, I think of a
home as an investment, maybe a car. I think of
stock of course as an investment land, but I never
(02:34):
saw jewelry as an investment. I know it is possible.
I saw goal as an investment. So what is wrong
with my mindset not seeing what you're seeing?
Speaker 2 (02:44):
You're absolutely right. You know, when we think jewelry, we
always think beautiful or emotional, and never investment that can
make us money. But at son Lore, what we are
doing is we're selling beautiful jewelry that can actually make
you money. So gold went up forty last year, and
(03:05):
if you were to buy a necklace from son Alor,
you could actually sell it back to us and make
a profit on it.
Speaker 1 (03:13):
Okay, Now, really help me out there, because you know,
you actually sell the jewelry. So, because I'm just trying
to get a sense of the brand because I went
on the website, I'm looking around and people are hearing
this for the first time, and so I don't want
to throw any confusion. So walk us through your brand first, Nitdi,
(03:35):
and then we'll go into the next step. Because I
started with the broad conversation about what is jewelry. Now
let's get back to your company and your format and
the way people can benefit from how you're presenting it
with this like time buy back guarantee.
Speaker 2 (03:51):
Perfect. So son Alor offers eighteen carried gold jewelry, and
this is jewel read that you can wear and enjoy,
and then if there is a time when you want
to either upgrade or switch it out, you can sell
it back to us at market prices of gold. So
(04:14):
wear it, enjoy it. Eighteen carded gold, very premium jewelry,
and then you can track it and sell it like
an investment. So what happened, I'll give you a little
bit background. So what happens is when you buy jewelry
at any other jeweler, there is about two hundred to
five hundred percent markup on the gold value that is
(04:38):
in the jewelry. So say you have you buy something
for five hundred dollars, you only have about one hundred
dollars worth of gold in.
Speaker 1 (04:49):
It, right, Right, that's why they went from jewelry. Right
there is that way, Okay, but.
Speaker 2 (04:56):
That's not how it's supposed to be. Right, It's supposed
to be gold. Then you obviously have some markup for
like the artisans actually working on it, and then you
sell it and I know I might be describing an
alien concept, but this concept actually exists in Asia. This
is how jewelry is sold in Asia, with gold at
(05:20):
its center and then a premium on top of it.
And jewelry is seen as an investment in Asia, and
it is seen as part of your work. That is
the concept we're trying to bring to the United States.
We want to make every woman, for sure and few
men an investor in gold through jewelry.
Speaker 1 (05:42):
Yeah, let me just talk about my community. You know,
I'm African American person of color, and you look at
music videos and jewelry has always been seen as to
me as bling blain, which means that technically not an investment,
just a showpiece show people you have money to show
people you got to going on. And I think that's
the level of education I've had with jewelry. I never saw,
(06:04):
Like I clearly know that I can buy stock in Apple,
I can buy stock and IBM or Intel. But because I,
throughout my life have been presented with jewelry as an
item of decoration in music videos, which dominated a large
part of my life, as blame and a show piece
(06:25):
that has miscalculated to me in this direction. Is it
only in my community. I shouldn't say general just with
Sean McDonald's vision. I don't want to make a sweeping
generalization for my entire community. But that's the education that
you have to break through right now, is letting people
know in general my community as well as other communities
about the investment opportunities in jewelry. Now it's just something
(06:49):
you wear, correct.
Speaker 2 (06:52):
That's absolutely right and question. I think there are a
time where this education might be easy year than other
times because gold is at an all time high, and
last year we had so many meals items where Costco
was selling out of gold bars right right, So people
know that gold has value, goal is an investment item,
(07:17):
even for like normal people and not just big investors anymore.
So what we are saying is gold is gold, right
cold is part of your jewelry as well. Let's start
seeing it as something that you value. One other thing
I wanted to bring up is bond shops, right.
Speaker 1 (07:37):
I was going to go to pawn shops too. Now,
before we go to pawn shop, let me talk about
you for a minute. You're young. Okay, there's another stereotype
I'm gonna throw out there. I would think that a
person who's in the jewelry business who's providing the opportunity
to buy jewelry from your company is rich? Or have
an investor who has a lot of money. Am I
(08:00):
saying the wrong things when I talk to you, nitty?
Or how did you establish this company to be in
a position to be an etailer for us to come
to you by jewelry and attach a life time by
back guarantee.
Speaker 2 (08:17):
So I'll give you my background. I do have a
Ivy League education. I have worked in different big and
small companies in the past, so I'm bringing definitely a
lot of experience to the table. Now money portion. I
(08:40):
think I've put in the hard work in my life
to buy myself a few years to actually pursue this
business opportunity, which I think I'm very passionate about. Again,
the mission is to make every woman an investor in gold.
So that's how I see it from investment point of view.
Not very crazily funded. We're not a Silicon valley, you know, startup.
Speaker 1 (09:07):
PC's and all that venture capitalists in pushing your brain.
I won't see you on short tank. I won't see
you on short tank.
Speaker 2 (09:16):
That'd be great, that'd be good publicity. Yeah, but we
right now, we're we have some money, but we are
you know, spending every dollar very wisely. The majority of
our money is going into the education piece that you
mentioned and then just giving customers a very good experience.
Speaker 1 (09:39):
Right now, let's get back to pawn shops because that
was the first thing that came in the mind. When
you have jewelry, you think of some value. Let me
just tell you I, because we're talking about goal can
we talk about diamonds, Can we talk about pearls. We
can talk about all levels of jewel but let's talk
about pawn shops in general. You know what, I've never
(10:00):
seen them give you any value to your property, whether
it's a television, a television or or any device that
you wanted to come in and try to get some
money because you in a state of needing money. How
do you differ from a pawnshop when it talks about
buy back or buying or returning something.
Speaker 2 (10:24):
So I want to start at the point where we
were talking about jewelry not being seen as an investment. Yes,
sown shop. The biggest category at pawn shops is goal
related things. So you know, maybe when we're buying jewelry,
We're not associating value investment, but if there is a
(10:46):
time in our life and we have to sell it,
we're definitely associating some value to it. Right. But now
what happens that pawn shops is, as you mentioned, the
experience is horrible, right, If you really really need to
go to a punch shop, that's when you would go
to a pawn shop. Otherwise no person would want to
go through that experience parking, walking in there, and then
(11:10):
you know, having that that entire or do you Pops
would give you about I would say thirty to forty
percent of the value, whereas at sonalor what we would
do is if you buy some jewelry from us and
you want to sell it back, we would take fifteen
percent as as charges on just you know, processing and
(11:34):
melting the metal, but we'll give you most of your
value back.
Speaker 1 (11:38):
Okay, cool, Okay, cool, Please don't go anywhere.
Speaker 3 (11:41):
We'll be right back with more Money Making Conversations master Class.
Welcome back to the Money Making Conversations master Class, hosted
by Rashan McDonald. Money Making Conversations Masterclass continues online at
money Making Conversations dot com and follow money making Conversations
(12:03):
masterclass on Facebook, Twitter, and Instagram.
Speaker 1 (12:08):
Now let's talk about we've been stuck on diamonds. Goal,
Let's talk about diamonds. Let's talk about pearls. I'm just
trying to expand myself.
Speaker 3 (12:15):
In this whole.
Speaker 1 (12:16):
I don't own any diamonds. I've only owned it. I've
only right. And so what is the if you were
if you were talking about investments. Now that we're talking
about idiot investments, I'm a naive person. I'm coming to
you for advice. What would you tell me to do?
Speaker 2 (12:34):
Ah, this is how you get into trouble. Diamonds are
not a very good investment.
Speaker 1 (12:42):
Okay, why I hear diamonds a girl's best friend. That's
what the rumor is for sure.
Speaker 2 (12:50):
But they're not the best investments because you know, like
we've all read about it, right, the Beers has the
power on pricing diamonds. What happens with diamonds is that
they're so marked up that when you actually go to
(13:11):
sell it back as a normal person, you get like,
I don't know twenty percent of what you paid for.
Speaker 1 (13:17):
Wow.
Speaker 2 (13:19):
So that's why Goal, which is traded internationally, is a
way better investment than diamonds, but now we are changing
the dynamics and diamonds as well. The new concept of
lab diamonds, which is again fraction of the cost of
a natural diamond, is getting us back to the point
(13:44):
of like jury can be an investment because diamond now
will be a fraction of the cost in a necklace,
whereas it would be a huge portion of the cost
but natural. So lab diamonds are again changing that dynamic
and making true read more of an investment.
Speaker 1 (14:02):
Okay, cool, Now there's some of us some questions. I'm
gonna ask this question because I didn't know what can
you tell us about your exquisite green emerald line, specifically
that because I'm trying to find out what to go
there and buy, and then I saw the word exquisite
Woo emerald green talk to us about that.
Speaker 2 (14:21):
So again, I think emeralds are rare, emeralds are beautiful,
And what we have done is we have created a
lot of unique jewelry pieces, both in natural emberals and
lap drown emeralds. So these are very high quality Columbian
green emeralds that you'll see in our eighteen catc could jewelry.
Speaker 1 (14:40):
Now we're talking about consumers we're talking about at this
point in our life, you know, we're trying to put
the money in the right place.
Speaker 2 (14:48):
Yeah.
Speaker 1 (14:49):
So when I'm looking at gold, I'm looking at that
these are the things that I consider jewelry that have value. Pearls, diamonds, gold,
Am I missing anything?
Speaker 2 (15:06):
I think you have rubies and sapphires?
Speaker 1 (15:07):
But yes, okay, woo, you get deeper with me. That's
rubies after pearls and you saying sapphire. So I would
never have bought bought a ruby or considered buying a ruby,
never bought a sapphire, but I have bought pearls, I
have bought diamonds, and I have bought gold. Okay, Now,
(15:29):
when you start looking at your company and the model,
because you said Rashan, the way to go is gold,
is that the direction as a consumer trying to invest,
trying to grow their value with their dollar. Is that
the direction that you were pushing the go?
Speaker 2 (15:46):
Yeah? I think so, and especially like high carded gold, right,
because that is more goal than anything else for a consumer. Right.
What I would say is if you're trying to buy cheldren, right,
just ensure that you're getting good value for your dollar.
Just ensure that you understand how much goal is in
(16:07):
there and that you're paying as for the amount of
wold you get. So that's what I would say, that
you know, buying jewelry is actually buying gold that you
can wear.
Speaker 1 (16:22):
Right before I get to my next question about the
challenges and pain points consumer's face we're trying to sell
their jewelry, explain to us one more time in detail
the lifetime buy back guarantee.
Speaker 2 (16:36):
Sure, so, I think as we mentioned right, like, say
you buy a necklace from so and Alrea. It's a
beautiful gold necklace. You bought it, you have enjoyed it,
you wore it to like parties and everything, and now
you want to upgrade it to something else. You want
(16:57):
to buy a Goal plus diamond necklace. So what you
can do is you go through your Sooner account. You'll
see a beautiful graph just like your Robinhood app, where
it will show the daily value of your necklace over
the past year. Oh wow, Yeah, it will also show
you that gold went up forty and you bought the
(17:18):
necklace at whatever one thousand dollars.
Speaker 1 (17:21):
It's one thousand dollars and so on your app you'll
be able to see the value of your.
Speaker 2 (17:26):
Necklace exactly every single day because gold moves every single day.
Speaker 1 (17:32):
Wow, okay, And so that allows you to make a
decision if you want to self your investment back to
your back to you guys exactly. Okay, Chris there, let's
talk about this. Okay. So I've boned in, went to
your side, brought me a gold necklace for one thousand dollars.
I've been watching it and tracking it hitler bumping the rod,
(17:55):
and there's at fifteen hundred dollars. Okay. Now what happens
when I want to bring it back to you and
I bought it for a thousand? Now how much can
I make off that necklace? First of all, I know
I'm not going to lose any value, correct, exactly? Okay, cool,
talk to me.
Speaker 2 (18:12):
So now you like, you know, we're saying that the
goal went up, right, and now the necklace is say
fifteen hundred or twelve hundred whatever, you know, good time.
You'll have a button on your account and you can
click sell, and then our team sends you an email
saying okay, you want to sell, you know, just confirming
(18:32):
this is the unit, and we send you a prepaid
shipping label. You should bust the necklace. We again see
tested that it's the real deal, and then we give
you an offer.
Speaker 1 (18:43):
That they they say, hey, we won't test it. Okay, okay,
do cus.
Speaker 2 (18:53):
And then an offer and that will be fifteen percent
lower than the value you see because again there.
Speaker 1 (19:02):
Is so basically you're saying that that the if it's
fifteen hundred dollars, you paying me back to maybe fifteen
fifteen percent less than that.
Speaker 2 (19:12):
That's right.
Speaker 1 (19:13):
Wow, I'm not mad at that. I'm not mad at that.
I never thought of that. That concept is interesting. I
have to say, why haven't we seen that before?
Speaker 2 (19:23):
Yeah, the issue stems from that. The jewelry is so
marked up when you buy it. Can I imagine, right,
like your jeweler sells you something for a thousand dollars
and then they were to show you a graph of
your goal. They sold your goal of two hundred dollars
to begin with, so you'd just be mad to see that. Okay,
(19:44):
my necklace is worth two hundred dollars, right, So they will.
Speaker 1 (19:48):
Never versus eight dollars price that you paid for.
Speaker 2 (19:51):
Exactly, so they don't want to get into that. You
only realize when you actually go to a pawn shop.
Speaker 1 (20:00):
Right, show breaks all your dreams down exactly. Okay, And
I'm sad if I'm sounding like wow, you know because
the journey as we talk, you're educating me. And that
was the whole key for me bringing on the show
is to understand exactly, but to go to your app
or go to your site. You can track the value
(20:22):
of your jewelry that you purchased based on how it's
buying and selling in this situation goal and I see
why you're recommending gold because it's trackable. Every day you
can see your value go up and down, and it
becomes an investment, an investment that they can bring back
to you guys, which means that whatever it is is
(20:42):
going to be a fifteen percent charge to buy it
back at minimums. Mindus what you what the value is?
Speaker 2 (20:52):
That's right?
Speaker 1 (20:53):
Wow?
Speaker 2 (20:53):
The current value?
Speaker 1 (20:54):
So again, you think I can work for you? Nay?
You think I'm getting the Okay? Cool. Now let's get
to the question that I held off of the challenges
and pain points consumers face when trying to sell that
jewelry not to you guys, yea, the problems that they
have where do they go other than a pawnshop.
Speaker 2 (21:14):
So no jewelry store right now offers your buy back guarantee.
Speaker 1 (21:19):
Okay, no, no.
Speaker 2 (21:21):
Other jeweler does that, so let's begin with that. So
there is no option for you to just go and
return it to the original person that you bought her from.
Now the options you have are like eBay, where it
can take forever and you really don't know who you're
selling to, or.
Speaker 1 (21:40):
I'm just tell you this. You know, you should always
open up with that example about the being able to
see your jewelry and being able to watch its value grow,
using goal as an example, the light bulb went above
my head right there. I understand what you're saying investment,
(22:01):
because I've never known jewelry to be treated like that,
and I know when I go to a traditional store,
I'm probably buying an overpriced item. And I've went in
there with people I suppose to had the hookup or
knew the man behind the counter, the man, the man
hand behind the counter, and I still walked out of
(22:22):
there feeling I paid more than I should have paid
in this situation. Being a detailer, anybody who brings their products,
anybody who comes to you buys the product you said Rashwan.
They're not buying an overpriced item. Correct, that's right.
Speaker 2 (22:38):
They know exactly what they're getting into because we'll give
you a breakdown of call. We'll give you the breakdown
of the gemstone cost, and we'll give you that this
is you know how much it costs us to bring
this piece to you because to be honest, like we
have costs to right import duties and packaging and all
of that. So we break it down very cleanly for
(22:59):
you right at the picnic and then every single day,
you know how much does it cost?
Speaker 1 (23:06):
Ladies and gentlemen. They're offering a lifetime bypack promise. I
say guarantee. They said lifetime buy back promise, and tell
them how they can reach out to you. To the
detail location of the website right now, nitty.
Speaker 2 (23:19):
Sure, it's ww dot sona lore dot com so sooner
lor s O NA l O R. And we're on Instagram,
which is sooner lord dot Jewelry.
Speaker 1 (23:33):
My friend. Thank you for educating me, and thank you
for I'm telling you know. I got a couple of links.
I just buy them because they're nice. I buy a
watch because I buy it because it's nice. I never
look at the idea of treating it as an investment,
because I only try to buy the most reasonly priced
thing that I see off the shelf. But you're telling me, Rashan,
(23:54):
go to your website and there's value there that can
be treated as an investment and then yes, it is
tied to a lifetime by back promise. Thank you for
coming on Money Making Conversations Masterclass. This has been another
edition of Money Making Conversation Masterclass posted by me Rushaun McDonald.
(24:16):
Thank you to our guests on the show today and
thank you for listening to audience now. If you want
to listen to any episode I want to be a
guest on the show, visit Moneymakingconversations dot com. Our social
media handle is money Making Conversation. Join us next week
and remember to always leave with your gifts. Keep winning
Hi. I am Rashan McDonald, a host of weekly Money
Making Conversation Masterclass show. The interviews and information that this
show provides are for everyone. It's time to stop reading
other people's success stories and start living your own. If
you want to be a guest on my show, please
visit our website, Moneymakingconversations dot com and click the be
a Guest button. Press submit and information will come directly
(00:23):
to me. Now, let's get this show started. My guess
is the co founder or fine jewelry company that she's
gonna tell you in a minute, because I don't want
to mess up the name. It's an innovative etailer that
if you've been reading, if you google it, it's popping
up everywhere. They transform the fire jewelry sector with a
lifetime buy back promise. Did you hear what I said?
(00:44):
A lifetime buy back promise. This allows consumers to sell
back their gold jewelry for cash or credit anytime at
market value with just one click. Please, she's here to
tell us all about it. Please Welcome to the Money
Making Conversation and master Class. Nitty sing the How are
you doing, Nitty?
Speaker 2 (01:04):
I'm very good? Thanks for having me first.
Speaker 1 (01:06):
Of all, where are you calling from.
Speaker 2 (01:08):
I'm calling from Palo Alta, California.
Speaker 1 (01:11):
West Coast, West Coast, West coast. Tell me when you
say jewelry, you know watches can be jewelry, ear rings, rings, necklaces,
jew as a couplelinks you know to be considered jewelry.
So when you say jewelry, please help me out with
that definition first.
Speaker 2 (01:32):
So currently, in the narrow definition, jewelry is basically whatever
you wear like you know, metal wise, or it could
be it could be a fine jewelry, or it could
be fashion jewelry, but anything that you were to feel good,
look good, and it could be an emotional statement that
(01:54):
you're wearing. What Sonore wants to.
Speaker 1 (01:58):
Do with which is the name of your company?
Speaker 2 (02:00):
That's the name of a company. Yes, we want to
turn this emotional statement into a financial statement as well.
You're wearing your wealth when you're wearing jewelry.
Speaker 1 (02:11):
Wow, I never saw it that way. So if I
buy the right coupling, I can wear my wealth as
well as wear a jewelry because I never saw I'll
be honest with you, I never saw jewelry as an
investment in my mind. You know, I think of a
home as an investment, maybe a car. I think of
stock of course as an investment land, but I never
(02:34):
saw jewelry as an investment. I know it is possible.
I saw goal as an investment. So what is wrong
with my mindset not seeing what you're seeing?
Speaker 2 (02:44):
You're absolutely right. You know, when we think jewelry, we
always think beautiful or emotional, and never investment that can
make us money. But at son Lore, what we are
doing is we're selling beautiful jewelry that can actually make
you money. So gold went up forty last year, and
(03:05):
if you were to buy a necklace from son Alor,
you could actually sell it back to us and make
a profit on it.
Speaker 1 (03:13):
Okay, Now, really help me out there, because you know,
you actually sell the jewelry. So, because I'm just trying
to get a sense of the brand because I went
on the website, I'm looking around and people are hearing
this for the first time, and so I don't want
to throw any confusion. So walk us through your brand first, Nitdi,
(03:35):
and then we'll go into the next step. Because I
started with the broad conversation about what is jewelry. Now
let's get back to your company and your format and
the way people can benefit from how you're presenting it
with this like time buy back guarantee.
Speaker 2 (03:51):
Perfect. So son Alor offers eighteen carried gold jewelry, and
this is jewel read that you can wear and enjoy,
and then if there is a time when you want
to either upgrade or switch it out, you can sell
it back to us at market prices of gold. So
(04:14):
wear it, enjoy it. Eighteen carded gold, very premium jewelry,
and then you can track it and sell it like
an investment. So what happened, I'll give you a little
bit background. So what happens is when you buy jewelry
at any other jeweler, there is about two hundred to
five hundred percent markup on the gold value that is
(04:38):
in the jewelry. So say you have you buy something
for five hundred dollars, you only have about one hundred
dollars worth of gold in.
Speaker 1 (04:49):
It, right, Right, that's why they went from jewelry. Right
there is that way, Okay, but.
Speaker 2 (04:56):
That's not how it's supposed to be. Right, It's supposed
to be gold. Then you obviously have some markup for
like the artisans actually working on it, and then you
sell it and I know I might be describing an
alien concept, but this concept actually exists in Asia. This
is how jewelry is sold in Asia, with gold at
(05:20):
its center and then a premium on top of it.
And jewelry is seen as an investment in Asia, and
it is seen as part of your work. That is
the concept we're trying to bring to the United States.
We want to make every woman, for sure and few
men an investor in gold through jewelry.
Speaker 1 (05:42):
Yeah, let me just talk about my community. You know,
I'm African American person of color, and you look at
music videos and jewelry has always been seen as to
me as bling blain, which means that technically not an investment,
just a showpiece show people you have money to show
people you got to going on. And I think that's
the level of education I've had with jewelry. I never saw,
(06:04):
Like I clearly know that I can buy stock in Apple,
I can buy stock and IBM or Intel. But because I,
throughout my life have been presented with jewelry as an
item of decoration in music videos, which dominated a large
part of my life, as blame and a show piece
(06:25):
that has miscalculated to me in this direction. Is it
only in my community. I shouldn't say general just with
Sean McDonald's vision. I don't want to make a sweeping
generalization for my entire community. But that's the education that
you have to break through right now, is letting people
know in general my community as well as other communities
about the investment opportunities in jewelry. Now it's just something
(06:49):
you wear, correct.
Speaker 2 (06:52):
That's absolutely right and question. I think there are a
time where this education might be easy year than other
times because gold is at an all time high, and
last year we had so many meals items where Costco
was selling out of gold bars right right, So people
know that gold has value, goal is an investment item,
(07:17):
even for like normal people and not just big investors anymore.
So what we are saying is gold is gold, right
cold is part of your jewelry as well. Let's start
seeing it as something that you value. One other thing
I wanted to bring up is bond shops, right.
Speaker 1 (07:37):
I was going to go to pawn shops too. Now,
before we go to pawn shop, let me talk about
you for a minute. You're young. Okay, there's another stereotype
I'm gonna throw out there. I would think that a
person who's in the jewelry business who's providing the opportunity
to buy jewelry from your company is rich? Or have
an investor who has a lot of money. Am I
(08:00):
saying the wrong things when I talk to you, nitty?
Or how did you establish this company to be in
a position to be an etailer for us to come
to you by jewelry and attach a life time by
back guarantee.
Speaker 2 (08:17):
So I'll give you my background. I do have a
Ivy League education. I have worked in different big and
small companies in the past, so I'm bringing definitely a
lot of experience to the table. Now money portion. I
(08:40):
think I've put in the hard work in my life
to buy myself a few years to actually pursue this
business opportunity, which I think I'm very passionate about. Again,
the mission is to make every woman an investor in gold.
So that's how I see it from investment point of view.
Not very crazily funded. We're not a Silicon valley, you know, startup.
Speaker 1 (09:07):
PC's and all that venture capitalists in pushing your brain.
I won't see you on short tank. I won't see
you on short tank.
Speaker 2 (09:16):
That'd be great, that'd be good publicity. Yeah, but we
right now, we're we have some money, but we are
you know, spending every dollar very wisely. The majority of
our money is going into the education piece that you
mentioned and then just giving customers a very good experience.
Speaker 1 (09:39):
Right now, let's get back to pawn shops because that
was the first thing that came in the mind. When
you have jewelry, you think of some value. Let me
just tell you I, because we're talking about goal can
we talk about diamonds, Can we talk about pearls. We
can talk about all levels of jewel but let's talk
about pawn shops in general. You know what, I've never
(10:00):
seen them give you any value to your property, whether
it's a television, a television or or any device that
you wanted to come in and try to get some
money because you in a state of needing money. How
do you differ from a pawnshop when it talks about
buy back or buying or returning something.
Speaker 2 (10:24):
So I want to start at the point where we
were talking about jewelry not being seen as an investment. Yes,
sown shop. The biggest category at pawn shops is goal
related things. So you know, maybe when we're buying jewelry,
We're not associating value investment, but if there is a
(10:46):
time in our life and we have to sell it,
we're definitely associating some value to it. Right. But now
what happens that pawn shops is, as you mentioned, the
experience is horrible, right, If you really really need to
go to a punch shop, that's when you would go
to a pawn shop. Otherwise no person would want to
go through that experience parking, walking in there, and then
(11:10):
you know, having that that entire or do you Pops
would give you about I would say thirty to forty
percent of the value, whereas at sonalor what we would
do is if you buy some jewelry from us and
you want to sell it back, we would take fifteen
percent as as charges on just you know, processing and
(11:34):
melting the metal, but we'll give you most of your
value back.
Speaker 1 (11:38):
Okay, cool, Okay, cool, Please don't go anywhere.
Speaker 3 (11:41):
We'll be right back with more Money Making Conversations master Class.
Welcome back to the Money Making Conversations master Class, hosted
by Rashan McDonald. Money Making Conversations Masterclass continues online at
money Making Conversations dot com and follow money making Conversations
(12:03):
masterclass on Facebook, Twitter, and Instagram.
Speaker 1 (12:08):
Now let's talk about we've been stuck on diamonds. Goal,
Let's talk about diamonds. Let's talk about pearls. I'm just
trying to expand myself.
Speaker 3 (12:15):
In this whole.
Speaker 1 (12:16):
I don't own any diamonds. I've only owned it. I've
only right. And so what is the if you were
if you were talking about investments. Now that we're talking
about idiot investments, I'm a naive person. I'm coming to
you for advice. What would you tell me to do?
Speaker 2 (12:34):
Ah, this is how you get into trouble. Diamonds are
not a very good investment.
Speaker 1 (12:42):
Okay, why I hear diamonds a girl's best friend. That's
what the rumor is for sure.
Speaker 2 (12:50):
But they're not the best investments because you know, like
we've all read about it, right, the Beers has the
power on pricing diamonds. What happens with diamonds is that
they're so marked up that when you actually go to
(13:11):
sell it back as a normal person, you get like,
I don't know twenty percent of what you paid for.
Speaker 1 (13:17):
Wow.
Speaker 2 (13:19):
So that's why Goal, which is traded internationally, is a
way better investment than diamonds, but now we are changing
the dynamics and diamonds as well. The new concept of
lab diamonds, which is again fraction of the cost of
a natural diamond, is getting us back to the point
(13:44):
of like jury can be an investment because diamond now
will be a fraction of the cost in a necklace,
whereas it would be a huge portion of the cost
but natural. So lab diamonds are again changing that dynamic
and making true read more of an investment.
Speaker 1 (14:02):
Okay, cool, Now there's some of us some questions. I'm
gonna ask this question because I didn't know what can
you tell us about your exquisite green emerald line, specifically
that because I'm trying to find out what to go
there and buy, and then I saw the word exquisite
Woo emerald green talk to us about that.
Speaker 2 (14:21):
So again, I think emeralds are rare, emeralds are beautiful,
And what we have done is we have created a
lot of unique jewelry pieces, both in natural emberals and
lap drown emeralds. So these are very high quality Columbian
green emeralds that you'll see in our eighteen catc could jewelry.
Speaker 1 (14:40):
Now we're talking about consumers we're talking about at this
point in our life, you know, we're trying to put
the money in the right place.
Speaker 2 (14:48):
Yeah.
Speaker 1 (14:49):
So when I'm looking at gold, I'm looking at that
these are the things that I consider jewelry that have value. Pearls, diamonds, gold,
Am I missing anything?
Speaker 2 (15:06):
I think you have rubies and sapphires?
Speaker 1 (15:07):
But yes, okay, woo, you get deeper with me. That's
rubies after pearls and you saying sapphire. So I would
never have bought bought a ruby or considered buying a ruby,
never bought a sapphire, but I have bought pearls, I
have bought diamonds, and I have bought gold. Okay, Now,
(15:29):
when you start looking at your company and the model,
because you said Rashan, the way to go is gold,
is that the direction as a consumer trying to invest,
trying to grow their value with their dollar. Is that
the direction that you were pushing the go?
Speaker 2 (15:46):
Yeah? I think so, and especially like high carded gold, right,
because that is more goal than anything else for a consumer. Right.
What I would say is if you're trying to buy cheldren, right,
just ensure that you're getting good value for your dollar.
Just ensure that you understand how much goal is in
(16:07):
there and that you're paying as for the amount of
wold you get. So that's what I would say, that
you know, buying jewelry is actually buying gold that you
can wear.
Speaker 1 (16:22):
Right before I get to my next question about the
challenges and pain points consumer's face we're trying to sell
their jewelry, explain to us one more time in detail
the lifetime buy back guarantee.
Speaker 2 (16:36):
Sure, so, I think as we mentioned right, like, say
you buy a necklace from so and Alrea. It's a
beautiful gold necklace. You bought it, you have enjoyed it,
you wore it to like parties and everything, and now
you want to upgrade it to something else. You want
(16:57):
to buy a Goal plus diamond necklace. So what you
can do is you go through your Sooner account. You'll
see a beautiful graph just like your Robinhood app, where
it will show the daily value of your necklace over
the past year. Oh wow, Yeah, it will also show
you that gold went up forty and you bought the
(17:18):
necklace at whatever one thousand dollars.
Speaker 1 (17:21):
It's one thousand dollars and so on your app you'll
be able to see the value of your.
Speaker 2 (17:26):
Necklace exactly every single day because gold moves every single day.
Speaker 1 (17:32):
Wow, okay, And so that allows you to make a
decision if you want to self your investment back to
your back to you guys exactly. Okay, Chris there, let's
talk about this. Okay. So I've boned in, went to
your side, brought me a gold necklace for one thousand dollars.
I've been watching it and tracking it hitler bumping the rod,
(17:55):
and there's at fifteen hundred dollars. Okay. Now what happens
when I want to bring it back to you and
I bought it for a thousand? Now how much can
I make off that necklace? First of all, I know
I'm not going to lose any value, correct, exactly? Okay, cool,
talk to me.
Speaker 2 (18:12):
So now you like, you know, we're saying that the
goal went up, right, and now the necklace is say
fifteen hundred or twelve hundred whatever, you know, good time.
You'll have a button on your account and you can
click sell, and then our team sends you an email
saying okay, you want to sell, you know, just confirming
(18:32):
this is the unit, and we send you a prepaid
shipping label. You should bust the necklace. We again see
tested that it's the real deal, and then we give
you an offer.
Speaker 1 (18:43):
That they they say, hey, we won't test it. Okay, okay,
do cus.
Speaker 2 (18:53):
And then an offer and that will be fifteen percent
lower than the value you see because again there.
Speaker 1 (19:02):
Is so basically you're saying that that the if it's
fifteen hundred dollars, you paying me back to maybe fifteen
fifteen percent less than that.
Speaker 2 (19:12):
That's right.
Speaker 1 (19:13):
Wow, I'm not mad at that. I'm not mad at that.
I never thought of that. That concept is interesting. I
have to say, why haven't we seen that before?
Speaker 2 (19:23):
Yeah, the issue stems from that. The jewelry is so
marked up when you buy it. Can I imagine, right,
like your jeweler sells you something for a thousand dollars
and then they were to show you a graph of
your goal. They sold your goal of two hundred dollars
to begin with, so you'd just be mad to see that. Okay,
(19:44):
my necklace is worth two hundred dollars, right, So they will.
Speaker 1 (19:48):
Never versus eight dollars price that you paid for.
Speaker 2 (19:51):
Exactly, so they don't want to get into that. You
only realize when you actually go to a pawn shop.
Speaker 1 (20:00):
Right, show breaks all your dreams down exactly. Okay, And
I'm sad if I'm sounding like wow, you know because
the journey as we talk, you're educating me. And that
was the whole key for me bringing on the show
is to understand exactly, but to go to your app
or go to your site. You can track the value
(20:22):
of your jewelry that you purchased based on how it's
buying and selling in this situation goal and I see
why you're recommending gold because it's trackable. Every day you
can see your value go up and down, and it
becomes an investment, an investment that they can bring back
to you guys, which means that whatever it is is
(20:42):
going to be a fifteen percent charge to buy it
back at minimums. Mindus what you what the value is?
Speaker 2 (20:52):
That's right?
Speaker 1 (20:53):
Wow?
Speaker 2 (20:53):
The current value?
Speaker 1 (20:54):
So again, you think I can work for you? Nay?
You think I'm getting the Okay? Cool. Now let's get
to the question that I held off of the challenges
and pain points consumers face when trying to sell that
jewelry not to you guys, yea, the problems that they
have where do they go other than a pawnshop.
Speaker 2 (21:14):
So no jewelry store right now offers your buy back guarantee.
Speaker 1 (21:19):
Okay, no, no.
Speaker 2 (21:21):
Other jeweler does that, so let's begin with that. So
there is no option for you to just go and
return it to the original person that you bought her from.
Now the options you have are like eBay, where it
can take forever and you really don't know who you're
selling to, or.
Speaker 1 (21:40):
I'm just tell you this. You know, you should always
open up with that example about the being able to
see your jewelry and being able to watch its value grow,
using goal as an example, the light bulb went above
my head right there. I understand what you're saying investment,
(22:01):
because I've never known jewelry to be treated like that,
and I know when I go to a traditional store,
I'm probably buying an overpriced item. And I've went in
there with people I suppose to had the hookup or
knew the man behind the counter, the man, the man
hand behind the counter, and I still walked out of
(22:22):
there feeling I paid more than I should have paid
in this situation. Being a detailer, anybody who brings their products,
anybody who comes to you buys the product you said Rashwan.
They're not buying an overpriced item. Correct, that's right.
Speaker 2 (22:38):
They know exactly what they're getting into because we'll give
you a breakdown of call. We'll give you the breakdown
of the gemstone cost, and we'll give you that this
is you know how much it costs us to bring
this piece to you because to be honest, like we
have costs to right import duties and packaging and all
of that. So we break it down very cleanly for
(22:59):
you right at the picnic and then every single day,
you know how much does it cost?
Speaker 1 (23:06):
Ladies and gentlemen. They're offering a lifetime bypack promise. I
say guarantee. They said lifetime buy back promise, and tell
them how they can reach out to you. To the
detail location of the website right now, nitty.
Speaker 2 (23:19):
Sure, it's ww dot sona lore dot com so sooner
lor s O NA l O R. And we're on Instagram,
which is sooner lord dot Jewelry.
Speaker 1 (23:33):
My friend. Thank you for educating me, and thank you
for I'm telling you know. I got a couple of links.
I just buy them because they're nice. I buy a
watch because I buy it because it's nice. I never
look at the idea of treating it as an investment,
because I only try to buy the most reasonly priced
thing that I see off the shelf. But you're telling me, Rashan,
(23:54):
go to your website and there's value there that can
be treated as an investment and then yes, it is
tied to a lifetime by back promise. Thank you for
coming on Money Making Conversations Masterclass. This has been another
edition of Money Making Conversation Masterclass posted by me Rushaun McDonald.
(24:16):
Thank you to our guests on the show today and
thank you for listening to audience now. If you want
to listen to any episode I want to be a
guest on the show, visit Moneymakingconversations dot com. Our social
media handle is money Making Conversation. Join us next week
and remember to always leave with your gifts. Keep winning
The Steve Harvey Morning Show News
Hosts And Creators
Steve Harvey
Shirley Strawberry
Thomas "Nephew Tommy" Miles
Carla Ferrell
Kier "Junior" Spates
Popular Podcasts
Las Culturistas with Matt Rogers and Bowen Yang
Ding dong! Join your culture consultants, Matt Rogers and Bowen Yang, on an unforgettable journey into the beating heart of CULTURE. Alongside sizzling special guests, they GET INTO the hottest pop-culture moments of the day and the formative cultural experiences that turned them into Culturistas. Produced by the Big Money Players Network and iHeartRadio.
On Purpose with Jay Shetty
I’m Jay Shetty host of On Purpose the worlds #1 Mental Health podcast and I’m so grateful you found us. I started this podcast 5 years ago to invite you into conversations and workshops that are designed to help make you happier, healthier and more healed. I believe that when you (yes you) feel seen, heard and understood you’re able to deal with relationship struggles, work challenges and life’s ups and downs with more ease and grace. I interview experts, celebrities, thought leaders and athletes so that we can grow our mindset, build better habits and uncover a side of them we’ve never seen before. New episodes every Monday and Friday. Your support means the world to me and I don’t take it for granted — click the follow button and leave a review to help us spread the love with On Purpose. I can’t wait for you to listen to your first or 500th episode!
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Follow now to get the latest episodes of Dateline NBC completely free, or subscribe to Dateline Premium for ad-free listening and exclusive bonus content: DatelinePremium.com