Posin Diamonds and Fine Jewelry, 1440 Bethel Road, is going out of business after 36 years of bringing the sparkle and shine to area customers.
Co-owner Robin Napier said last week her partner, Jack Holstein, with whom she bought the business from original owner Ed Yackenovich in 2007, just feels like it's time.
"He's trying to retire," she said. "That's why we want to liquidate this."
Holstein could not be reached for comment.
For Napier, who formerly had her own jewelry store, Silver Gold Mine, off Scarborough Boulevard in east Columbus, the process of shutting down the venerable operation is bittersweet.
"I love this business," she said. "You meet the sweetest people. I get to be part of people's lives for the good times.
"It's sad to see it go."
"It's a sad thing, but we're just not making enough money to stay open," said Rose Henning, the only other current employee.
Yackenovich brought the Posin name to Columbus with the blessing of Sam Posin, a former Russian immigrant who achieved the American dream by opening a fine jewelry store in downtown Wheeling, West Virginia, according to the website for Howard's Diamond Center, a business founded by Posin's son.
When Holstein and Napier bought the Bethel Road store almost nine years ago, Napier said she recalled Sam Posin himself called to wish them well.
" 'I've got a good name,' " she said Posin told the partners. " 'Don't ruin my reputation.' "
Napier said she and Holstein have engaged the services of Wilkerson Jewelry, based in Stuttgart, Arizona, to handle the going-out-of-business sale.
The closing of Posin is another sign of tough times for the jewelry business, and is part of a scenario that's been playing out across the country for several years, Napier said.
"People are not buying like they used to be," she said.
An article posted July 8 last year on the website of the Diamond Loupe, an international news medium in the trade, backs the co-owner's assessment.
"Online is what's killing us," Napier said. "I never in my life thought somebody would buy an engagement ring online from an unknown source.
"It used to be a ritual, kind of like buying a car."
The final day for Posin Diamonds under the arrangement with Wilkerson is March 25, but Napier said the doors might close sooner as the stock is sold off.
She said that she and Henning are uncertain about their future plans.
"I don't know yet," Napier said. "I've got a lot of things I could do.
"We're just waiting for the next door to open."