NC Snowfall Means Free Jewelry For Store Customers

More than six inches of snow in Asheville means a little extra in the wallet for customers of a Wilmington jewelry store.

Perry's Emporium owner Alan Perry promised to refund the cost of jewelry bought at his store between Nov. 26 and Dec. 11 if Asheville got more than three inches of snow on Christmas Day.

Multiple media outlets report that Perry is making good on his bet. He estimates the payout will be around $400,000, which will be covered by an insurance policy. Checks should be ready in about 45 days.

Perry is undaunted by losing the bet. He says he's thinking of a similar promotion for Valentine's Day, based on how much snow Asheville gets on Feb. 14.

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  • by Think Location: Down East on Dec 31, 2010 at 09:44 AM
    Think about how much this insurance might have cost Then think what the publicity this has generated for his business...where could he have obtained advertising this cheap ???
  • by Agent Location: ENC on Dec 31, 2010 at 06:56 AM
    Based on Hobey Cats stupid remark,I bet his premiums are REALLY low.
  • by BA Location: ENC on Dec 30, 2010 at 05:15 PM
    I owned a mobile home once that was insured by Lloyd's of London.
  • by Hobey Cat on Dec 30, 2010 at 03:23 PM
    my brain is insured by Lloyd's London.
  • by Llyod's of London Location: UK on Dec 30, 2010 at 11:49 AM
    He probably insured it through Lloyd's of London. they will insure just about anything i.e.Tina Turner's legs, Bruc Springstein's voice, and they usually cover hole in one bets at various golf tournaments. This is why the merchant is not worried; he paid for the premium for the insurance policy now the company will have to pay his customers.
  • by Marketing Location: Rocky Mount on Dec 30, 2010 at 11:37 AM
    He had a promotion company insure it. Very similar to what a Golf tournament does for a whole in one.
  • by Anon Location: Gville on Dec 30, 2010 at 11:27 AM
    It's actually pretty common for these offers to be insured. For instance, the free car offers are often insured. As with any insurance, price is based on risk. If 1 out of 1000 of these offers are cashed in, then the insurance company sets prices to cover the averages and still make money. It's what insurance companies do: financially cover risk. The trick for the insurance company is to accurately predict risk so they don't lose money.
  • by concerned Location: gville on Dec 30, 2010 at 10:56 AM
    Tell me, how exactly does an insurance policy cover bets. When you explain that I'm going to Vegas!
  • by REM Location: ENC on Dec 30, 2010 at 09:36 AM
    WOW, what a great advertising opportunity! $400,000 sounds like a lot to gamble on, but I bet good customer service will bring this guy a net profit in the long run. It would be nice to see most of this money put to good use within the local community, but I doubt that will happen.

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