I just came across this site www.bijouxmart.com/servlet/StoreFront. It is a relatively new site (10 months old) with PR0 and does not have many backlinks. I did not find anything special for on-page factors. But it currently ranks #2 on Yahoo under the keyword "Wholesale Fashion Jewelry". Can someone tell me how did this happen?
perhaps they are using quality backlinks i see 118 links in yahoo. That cant hurt, also the text at the top of the page above the banner is interesting, it looks to be an extension of the page title. Though the page has no h1 tag (and would likely benefit from making that text a h1 tag, it likely sees the first words on the page as a good description. Since that text matches the page title nicely and elaborates a bit it is considered good. It has a good linking structure, uses alt tags, and uses almost all text based links. The page has generally good SEO, good design and structure. I would say this is the reason its working well, its just a fairly good gray hat site. Also yahoo is not as good as say google which imho would likely dislike the gray hatty seo only text at the top of the page.
Its backlinks are just so so. It's keyword density might have helped. The text at the top of page does look interesting. Don't know whether Google likes it (the top text) or not.