ERIK RUNYAN, OWNER of Erik Runyan Vintage Jewelry Salon in Vancouver, shows some of the many pieces his store offers. Runyan also buys gold jewelry, as well as does restoration and modifications.
For 23 years, Erik Runyan’s approach to his jewelry business had been straightforward.
“My goal was to buy the most beautiful pieces I could find and sell it to my customers for them to enjoy for years,” Runyan said.
Runyan is the fourth-generation owner of the company started by his great-grandfather in 1917. His 20-year-old daughter Erin, who’s studying for a business degree at Washington State University at Pullman, is already involved as well, working alongside her father during the summer.
He also began buying gold and jewelry back a few years ago, right around the height of the new gold boom in the midst of the recession. With companies nationwide popping up to recycle or exchange gold for cash, it was an area Runyan was hesitant to get into, but eventually decided to take the risk.
“Once gold for cash programs became common online and through mail, lots of people got involved and not all of them were reputable,” Runyan said. “What makes us different is we have a solid reputation and we offer advice on the best way to part with your unwanted jewelery.”
Runyan points out that with the way the gold market has fluctuated and inflated over the last few years, it makes gold an alluring commodity to sell.
“In the 1980s and 90s, the market was hovering around the $400-an-ounce range.” Runyan said. “Now, we’re seeing it hit nearly three times that amount for an ounce. That not only makes it more attractive to sell, but also makes it harder for buyers because we have to be more selective in the items we want.”
In addition to recycling gold, Runyan’s offers restoration, as well as ways to modify and update jewelry to give it a new distinct look.
“Sometimes, customers are looking for a new stone or a way to make a piece look better, and we can help with that too,” Runyan said.
Since jewelry is so distinct and unique, Runyan said the challenge for him comes as soon as the customer walks in the door.
“I always wonder what I’m going to see that day,” Runyan said. “I’m also interested in knowing the story behind each piece and what the customer would ultimately like to do with it. Sentimental value is something we take into account as well.”
With his experience in the business also comes an eye for things not being what they seem when it comes to gold and precious stones.
“We have to use not only our visual skills to confirm that the gold quality matches what may be stamped on it, but we also do other tests, including chemical testing,” Runyan said. “People don’t often understand that even 14-carat gold has 58 percent of other alloys in it, so we have to determine the best way to get the pure gold out.”
Above all, Runyan recommends anyone looking to part with their gold become informed customers.
“The best thing you can do is be transparent and comfortable,” Runyan said. “When an appraiser asks you questions, give straight answers. Do your homework, get second opinions, and understand it’s a dog-eat-dog market with people who want to make as much money as possible before the price drops again.”
Erik Runyan Vintage Jewelry Salon is located at 900 Washington Street in Vancouver and is open Mon.-Fri. 10 a.m.-5:30 p.m., Saturdays 10 a.m.-3 p.m. For more information, call (360) 699-1917 or go to the website, www.runyansjewelers.com.
