Savings as jewelry stores go out of business

December 8, 2010

MAB Diamonds has been in business in Delaware County since 1959, but after this Christmas, second generation owner Sam Bruner's quitting the business to become a lawyer.

His brother, Joseph, is going to concentrate on custom jewelry design.

And so, the brothers are selling off the inventory of their store at discounts of up to 70%.

"The sale will run through the holiday season with discounts getting greater the closer we get to Christmas, but at the same time, the inventory's going to get smaller, so you might want to take advantage of it as soon as you can," Sam said.

Among the deals, dozens of diamond tennis bracelets, including one that was priced at $17,400 that's now $8,700. There is also a diamond journey pendant that was $4,000 is reduced to $800 and lots of gemstone rings.

And what may be bad news for the jewelry, but good news for jewelry shoppers, MAB Diamonds isn't the only local jewelry store that's closing its doors and having a sale.

Minster's Jewelers is a fourth generation family business, which opened a shop on 9th Street in Wilmington in 2007, just before the economic downturn.

Minster's Newark store will remain open, but the inventory of the Wilmington store is on sale at up to 70% off though Christmas Eve.

"A diamond engagement ring that was originally $1,000 is now marked down to the $300," Kelly from Minster's Jewelers said.

A sapphire and diamond ring that was $700 is now $280 and there are similar reductions on these ruby and diamond necklaces.

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