Stephan’s Fine Jewelry starts closing sale
Santa Cruz Sentinel, CA
By JONDI GUMZ
Sentinel staff writer
Walk by Stephan’s Fine Jewelry in downtown Santa Cruz and you can’t help but notice the sign saying “Save up to 50 percent off”
Stephan Sernat, 59, has decided to call it quits after 30 years in retail. About half of his business, on average, is in wedding and engagement rings. He’s been in Santa Cruz so long that he’s started to see a second generation of customers coming in.
He has opened his vaults and brought out rings and necklaces that are being sold, he says, at cost and even below cost. About 25 percent of the inventory has been sold so far.
He admitted he will miss his clients and friends he’s made, so he’s offering to serve as an advisor to anyone who buys the business. By the way, Stephan was born Stephen. But “Steve’s Fine Jewelry” didn’t have a ring to it, and when friends joshingly called him Stephan, he decided the name was just right.
Sernat sat down Friday to answer some questions.
Q What prompted you to sell now?
A I’ve been in retail jewelry for 30 years and in this location for 25 years and it’s been wonderful. I just feel called to do something different. You know, you show up at the party late and you leave early.
Q What’s the biggest change you’ve seen in business over the years?
A It would have to be the Internet. Diamond sales, for example. So many people have gone to the Internet to buy diamonds and find the product isn’t what they thought it would be. You see jewelry sales on TV and the box shows up at your door and you say, ‘This is what I bought?’ Everyone expects you to work with minimum margins with quality goods.
On a local level, dealing with the street people and transients. Four or five months ago, it hit rock bottom. I’ve seen a major improvement since. I appreciate the City Council listening. I see a faster and better response from the downtown hosts and the Santa Cruz police.
Q What’s the key to success in the jewelry business?
A It ties into friendliness, being real with people, being fair, being consistent, being a good person. A lot of it comes from being a Christian. I think that helps me share those values.
Q Finish this sentence: I’ll never forget …
A A .45 revolver to the side of my head.
It was in the mid-’80s. They took a fair amount but we were able to recover about 80 percent of it. We had the police right on them. They were caught within five minutes. Some stuff was thrown out the window as they were being chased.
Another day I’ll never forget was the earthquake in 1989. It was 5:04 p.m. A woman was buying a silver chain, and the building started to rumble. It stopped and she said, “I’m going to buy that chain”
Then the building shook again, and I put everybody under the doorway. She said, “Here’s my money before it starts again” Eventually I gave her the chain. I didn’t care about the money.
Not one piece of glass in the store broke. The window glass in front popped out of its runner and landed on the carpet [intact]. The landlord had just retrofitted the building.
Two or three weeks later, while the street was still closed, I put out a sign, saying “Stephan’s staying” We marched downtown to City Hall to get them to open the street. KGO News crews were out there. I had three goldfish, Hans, Franz and Lemans [in the store] and I wanted to feed them. When I got inside [the store], the fish were still alive, so that was the good news for the day.
Q Have any buyers for your business come forward? What’s the price?
A There are a couple of potential buyers but nobody has put any money down. The price depends on what you want to buy, the name, the inventory. I have a broker in Stockton handling it.
Q What will you be doing during your retirement?
A I was a teacher before I had the store. I taught special education. I’m considering going back to teach part-time. I have a lifetime credential.
While I was teaching, I sold jewelry part-time after school. I made more money selling jewelry so I stopped teaching.
I expect I’ll spend more time with my wife Jackie and my daughter Jessi, who’s 12. I live on seven acres in Corralitos, and it’s rented to a grower for organic peppers and tomatoes. I’m learning how to do that.
Contact Jondi Gumz at jgumz@santacruzsentinel.com.
Bling’s the thing
Prices have been slashed for Stephan’s closing sale. Here are three examples from longtime jeweler Stephan Sernat:
An engagement ring by Tacori, was $3,530, now $2,395. Tacori, a company in Los Angeles, was started by an immigrant from Armenia. Sernat’s assessment: “Some of the prettiest jewelry in the world”
A man’s platinum band, was $6,355, now $3,200. An 18K platinum diamond ring by German manufacturer Christian Bauer. Sernat’s assessment: “The value of platinum has gone up in the past four years from $700 an ounce to $1,200 an ounce”
A ladies’ Tanzanite diamond ring, was $1,895, now $966. Sernat’s assessment: “This is my own piece”
The store at 102 Walnut Ave., Santa Cruz, will be open six days a week during the closing sale. Hours are: Tuesday, Wednesday Thursday, 10 a.m. to 5:30 p.m., Friday, 10 a.m. to 7:30 p.m., Saturday and Sunday, 10 a.m. to 5:30 p.m. For information, call 458-9950.
