Though its website has been down for a week, Christie’s proceeded with its jewelry and watch auctions on May 13-14, bringing in nearly $80 million.
A Jewelry Store That Opened in 1832 Is Closing
Cornwell Jewelers is located in Athens, a small town in southeast Ohio that’s home to Ohio University.
She and her sister would “go uptown”—local vernacular for visiting the town’s main drag, Court Street—to shop and catch a matinee before popping into her grandfather’s store with a slice.
Cornwell said she never really considered jewelry as a career, staying local to go to college—she earned a bachelor’s and a master’s from Ohio University, the heartbeat of this small southeast Ohio town—and majoring in education.
But when she completed her master’s in 1994, there came a request: Her mom, Connie Cornwell, asked her to put in a few months at the jewelry store that her family still owned but, at that time, employed no family members.
Cornwell initially said no but eventually relented.
“Probably, I’m a people-pleaser,” she allows. “They asked me and it’s hard to say ‘no’ to your parents when they’ve done so much for you.”
She started working at Cornwell Jewelers in August 1994, learning under the longtime manager until October, when that longtime manager suddenly quit and “really left me kind of holding the bag,” Cornwell said.
She wasn’t going to walk out on a business that, at that point in time, had been in her family for 150-plus years. So she stayed, eventually earning her registered jeweler (RJ) certification from the American Gem Society and attending more than a half-dozen Conclave events in order to learn about the business.
She called the knowledge gained at those annual events a “pivotal part” of her career, a career that was supposed to last about six months but has spanned 25 years.
John Cornwell opened Cornwell Jewelers in 1832, one year after he arrived in Athens to go to college. (Ohio University was founded in 1804 and is the oldest college in Ohio.)
It celebrates its 187th birthday this year and bills itself as the country’s second-oldest family-owned jewelry store.
Kris Cornwell represents the sixth generation involved in the operation of the store, and moved it from South Court Street to its current location, 77 N. Court St., in 2002. The building, she said, dates to the early 1900s and originally was a Pure Oil gas station.
Cornwell was adamant about keeping the store on Court Street, which is lined with college book stores, restaurants and more than its fair share of bars, but chose to move it to a freestanding building that included a parking lot.
Seventeen years later, she knows she needs to move again to survive but just doesn’t want to start all over again, for what she described as a “perfect storm” of reasons.
There is competition from online sellers, which, Cornwell says, has her working harder than ever to stay on top of things and has cut into the business the store does with OU’s 23,000 undergrads.
There also has been a shift in the brick-and-mortar makeup of Court Street.
She knows she would have to move her store off Court Street, where it has been since its founding, to continue but just can’t picture the store anywhere else.
Secondly, three of the five daughters she and her husband have combined are getting ready to leave Athens, which made her reconsider her future, particularly in terms of time and stress.
She also suffered two personal losses last summer that took a toll.
In August, longtime employee Eric Coon, who retired from the store a couple years ago, died suddenly of a heart attack. The following day, she lost her brother-in-law to cancer.
“I love my store but I’ve come to a crossroads and have had to make a really hard decision. I still get upset when customers are sad—it makes me sad,” Cornwell said, her voice breaking. “But I know it’s right and I know I don’t have it in me to move and open another location.
“I don’t want to start again.”
The going-out-of-business sale at Cornwell Jewelers began in late April with postcards mailed to VIP customers to let them know the store would be shutting down.
Cornwell said it will continue through mid-summer or until all the merchandise is sold.
The Latest
Despite the absence of “The Allnatt,” Sotheby’s Geneva jewelry auction totaled $34 million, with 90 percent of lots sold.
Lilian Raji gives advice to designers on how to make the most of great publicity opportunities.
Despite the rising prices, consumers continue to seek out the precious metal.
The mining company wants to divest its 70 percent holding in the Mothae Diamond Mine in an effort to streamline its portfolio.
Why do so many jewelers keep lines that are not selling? Peter Smith thinks the answer lies in these two behavioral principles.
The “Argyle Phoenix” sold for more than $4 million at the auction house’s second jewels sale.
Tradeshow risks are real. Get tips to protect yourself before, during and after and gain safety and security awareness for your business.
The annual list recognizes young professionals making an impact in jewelry retail.
While overall sales were sluggish, the retailer said its non-bridal fine jewelry was a popular choice for Valentine’s Day.
The mining giant also wants to offload its platinum business as part of an overhaul designed to “unlock significant value.”
Christie's is selling one of the diamonds, moving forward with its Geneva jewelry auction despite the cyberattack that took down its website.
The ad aims to position platinum jewelry as ideal for everyday wear.
Retailers can customize and print the appraisal brochures from their store.
The move follows a price-drop test run in Q4 and comes with the addition of a “quality assurance card” from GIA for some loose diamonds.
The site has been down since Thursday evening, just ahead of its spring auctions.
The late former U.S. Secretary’s collection went for quadruple the sale’s pre-sale estimate.
Kimberly Adams Russell is taking over the role from her father, David Adams, marking the third generation to hold the title.
As a token of womanhood, this necklace depicts when Venus was born from the sea.
The deal gives the retailer control over the distribution of Roberto Coin jewelry in the U.S., Canada, Caribbean, and Central America.
Show your mother some love with a piece of fine jewelry.
The company’s Easton location will remain open.
Brian D. Fleming of Carla Corporation was elected to serve a one-year term in the role.
Sponsored by the Las Vegas Antique Jewelry and Watch Show
Tobak, author of “Ice Cold: A Hip-Hop Jewelry History,” shares how the exhibition came to be, and the pieces people may be surprised to see.
Stars adorned themselves in emeralds, platinum, and myriad bird motifs, writes Associate Editor Natalie Francisco.
M.S. Rau is set to open a seasonal gallery in the high-end resort town early next month.