Carter Malouf

Disclaimer: This transcript has been lightly edited for clarity and readability. Filler words were removed, sentence structure improved, and formatting adjusted while preserving the original meaning and conversational tone. Henry Harrison: Welcome to the show, Entrepreneurs, Business, and Finance. Today we are fortunate to have my longtime friend Carter Maloof, private jeweler and friend extraordinaire. Hello, Carter. Carter Maloof: Hey, Henry. Nice to be here. Henry Harrison: Carter is joining us from Santa Fe, New Mexico, with a very authentic adobe fireplace and traditional vigas overhead. For those unfamiliar, those beams are an ancient way of holding up the roof—and they’re still used today. Carter grew up in the Park Cities area of Dallas. We met shortly after I moved here, through mutual family connections. Over the years, our families have become friends. That’s been meaningful to me. Let’s talk about your background. Did you always think you’d be an entrepreneur? Carter Maloof: I thought I’d work for someone else at first. I didn’t know what I’d ultimately do. When I was 14, my parents bought a house in Santa Fe. I’d ride my bike past a jewelry store called Bella, and the owner let me come in and ask questions. I credit him with sparking my interest. In college, my mother—who designed jewelry for herself—created a few pieces. I had them made and sold them. Then I made more and sold those. I was doubling inventory each time. I went to Southwest Texas State in San Marcos. I thought about geology but didn’t have the science background. Meanwhile, people kept asking if I could make jewelry out of stones. I said yes and kept going. At one point, I went to Scottsdale to the Phoenician resort. They didn’t even have a finished retail space yet. I showed them my pieces, and they bought everything. I stayed for opening weekend and sold out. That’s when things accelerated. Henry Harrison: You eventually opened your own store, then worked for another jeweler for ten years. What prompted that shift? Carter Maloof: I had a partner in my first store. It wasn’t working operationally. I sold my interest and moved on. I went to work for a high-end jeweler in Highland Park Village. That’s where I truly learned fine jewelry—estate pieces, antique craftsmanship, and what makes something exceptional rather than just good. My grandfather influenced me as well. He was a master woodworker. He told me, “The underside has to be as beautiful as the top side.” I took that to heart in jewelry—finish matters everywhere. Henry Harrison: You operate differently than a traditional retail jeweler. Carter Maloof: Very differently. I’m by appointment only. I don’t carry massive inventory. I buy estates, source selectively, and keep overhead low. Retailers have to discount aging inventory. I don’t. There’s no pressure sales. Clients making 25,000 to 200,000 purchases don’t need pressure—they need education and trust. Henry Harrison: You’ve also done large estate valuations. That requires expertise. Carter Maloof: Appraising is its own craft. You must describe pieces precisely so they can be replaced accurately. At a Las Vegas jewelry show, an insurance company used one of my redacted appraisals as an example. They explained why it resulted in a higher payout—it was written thoroughly and accurately. That precision protects clients. Experience matters. The more you see, the more your eye absorbs. Henry Harrison: Your business is referral-driven. Carter Maloof: Entirely word of mouth. I’ve never advertised. Henry Harrison: Any significant business challenges? Carter Maloof: When I left my former employer, there were obstacles put in place to discourage me. I started humbly—working from home, from coffee shops, keeping overhead minimal. You can’t start at the top of the mountain. You begin at base camp and ascend gradually. There will always be hurdles—vendors, competitors, jealousy, market shifts. You stay the course and find alternate routes. I call it the “football theory of learning.” Schools expect linear learning. Some people, like me with dyslexia, learn differently. You go around, over, under—but you reach the same end goal, often with broader experience. Henry Harrison: That’s excellent advice. Confident and humble. Carter Maloof: And blessed. Henry Harrison: Carter, thank you for your friendship and for sharing your story. Carter Maloof: It’s a privilege. Thank you, Henry.