The Iced Coffee Hour “Dont Buy Bitcoin!” Why ‘The Rich’ Are Buying Gold, Diamonds, and Jewelry | TraxNYC
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Aug 17, 2025 TraxNYC, a skilled jeweler based in New York City's Diamond District, shares fascinating insights into the jewelry industry. He discusses the allure of gold as a stable investment compared to Bitcoin, exploring why high-profile clients prefer tangible assets. TraxNYC recounts his entrepreneurial journey, telling tales of early setbacks, negotiation missteps, and the importance of genuine relationships in sales. He also highlights the evolving perceptions of wealth in luxury markets, including how true affluence differs from mere displays of opulence.
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Gold Casting Losses And Early Creations
- TraxNYC built his jewelry craft by melting and remaking gold into custom figurines and pieces using his own capital.
- He showed how casting causes material loss and explained real-world weight losses when polishing large objects.
From eBay Success To Costly Theft
- TraxNYC reached top 1% of eBay sellers and was flown to DC to lobby against sales tax proposals at 19.
- Rapid growth masked operational weaknesses that later led to theft and debt as he hired friends and lacked systems.
Put Orders And Bills In Writing
- When suppliers delay or change orders, demand written confirmation and check invoices before payment.
- Don't trust verbal promises; require clear timelines and inspect returns to prevent vendor and staff fraud.