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"Pearl Seller Finds Trust Is Essential to Success"


By Allen P. Roberts Jr.

July 01, 2005

During a Beijing layover in 1996, Northwest flight attendant Jeremy Shepherd bought a set of pearls for about $25. When a U.S. appraiser valued the pearls at $600, Shepherd emptied his bank account, returned to China, and bought 200 strands to sell on eBay. He now sells $5 million in jewelry a year through Santa Monica-based Pearl Paradise. Buying in bulk and with cash, Shepherd negotiates cheap prices with pearl farmers, so the firm can sell the jewelry at an 80% discount from retail.

Wall Street Journal
...the man who wants to buy
a necklace for his wife, but
knows its $2,500 in a store
but $350 at
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