NAICS 423940 - Jewelry, Watch, Precious Stone, and Precious Metal Merchant Wholesalers
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What is NAICS 423940
NAICS code 423940 covers establishments primarily engaged in the merchant wholesale distribution of jewelry, watches, precious and semiprecious stones, precious metals, metal flatware, costume jewelry, clocks, silverware, and jewelers' findings. Businesses in this sector act as intermediaries between manufacturers and retail outlets, providing a broad assortment of luxury and decorative items essential for various applications. These wholesalers often supply to retailers, specialty stores, and government entities requiring high-quality materials and finished goods for official use or resale. Government agencies contract with these wholesalers to procure specialized items such as ceremonial medals, commemorative coins, or decorative metalware used in official settings, ensuring authenticity, quality, and timely delivery. The sector's focus on precious metals and stones requires suppliers to maintain strict compliance with regulatory standards and certification processes, making them trusted partners for government procurement needs.
Industry Classification for NAICS 423940
This industry comprises establishments primarily engaged in the merchant wholesale distribution of jewelry, precious and semiprecious stones, precious metals and metal flatware, costume jewelry, watches, clocks, silverware, and/or jewelers' findings.
Breakdown for NAICS 423940
- Primarily involves wholesale distribution of jewelry and precious metal products.
- Includes items such as watches, clocks, costume jewelry, silverware, and jewelers' findings.
- Focuses on serving retail outlets as well as government and institutional clients.
- Businesses must comply with regulations on precious metal certification and ethical sourcing.
- NAICS 423940 supports both small and large-scale procurement contracts.
- Products are used in official ceremonies, awards, and cultural institution applications.
Included Activities for NAICS 423940
- Wholesale distribution of fine and costume jewelry to government agencies and retailers.
- Supplying precious and semiprecious stones for official and decorative purposes.
- Providing precious metals and metal flatware for ceremonial and commemorative use.
- Distributing watches, clocks, and timepieces for official awards and gifts.
- Supplying jewelers' findings and components for government-sponsored crafts or repairs.
- Ensuring compliance with certification standards for precious metals and stones.
- Managing logistics and timely delivery for government contracts.
- Supporting restoration and archival projects with specialized metalware and stones.
Business Types for NAICS 423940
- Jewelry wholesalers specializing in precious metals and stones.
- Distributors of watches, clocks, and timepieces for government use.
- Suppliers of ceremonial medals and commemorative items.
- Merchants handling costume jewelry and silverware for institutional clients.
- Small businesses focused on ethical sourcing and specialty metal products.
- Specialized jewelers providing findings and components to government contractors.
Subcategories for NAICS 423940
- Antique jewelry merchant wholesalers
- Clocks merchant wholesalers
- Coins merchant wholesalers
- Costume jewelry merchant wholesalers
- Diamonds (except industrial) merchant wholesalers
- Flatware, precious and plated, merchant wholesalers
- Gem stones merchant wholesalers
- Hollowware, precious metal, merchant wholesalers
- Ingots, precious, merchant wholesalers
- Jewelers' findings merchant wholesalers
- Jewelry merchant wholesalers
- Medallions merchant wholesalers
- Metals, precious, merchant wholesalers
- Numismatic goods merchant wholesalers
- Pearls merchant wholesalers
- Plated metal cutlery or flatware merchant wholesalers
- Precious and semiprecious stones merchant wholesalers
- Precious metals merchant wholesalers
- Silverware, precious and plated, merchant wholesalers
- Stones, precious and semiprecious, merchant wholesalers
- Tableware, precious and plated, merchant wholesalers
- Trophies merchant wholesalers
- Watchcases merchant wholesalers
- Watches and parts merchant wholesalers
Government Buyers for NAICS 423940
Federal, state, and local government agencies purchase products from this sector to fulfill diverse needs including official ceremonies, awards, and recognition programs. Agencies such as the Department of Defense, General Services Administration, and Veterans Affairs often require high-quality jewelry, medals, watches, and commemorative items for military honors, diplomatic gifts, and official presentation purposes. Additionally, government cultural and historical institutions may procure precious stones or metal artifacts for restoration, display, or archival purposes. These agencies prioritize suppliers who ensure product authenticity, compliance with ethical sourcing standards, and reliable delivery schedules, making NAICS 423940 businesses critical partners in fulfilling government procurement objectives.
Contract Types & Procurement for NAICS 423940
Contracts in this sector commonly include firm-fixed-price and indefinite-delivery/indefinite-quantity (IDIQ) agreements tailored for recurring supply needs of jewelry and precious metal products. Government agencies often use competitive sealed bidding and negotiated procurement methods to secure the best value while complying with regulatory requirements. Typical contract values vary widely depending on the scope and volume, ranging from small orders for ceremonial medals to multimillion-dollar contracts for large-scale procurement of precious metal inventories or commemorative items. Blanket purchase agreements (BPAs) and multiple-award schedules are also popular for enabling streamlined ordering from pre-qualified suppliers in this NAICS category.
Details for NAICS 423940
Explore the hierarchy and related codes for this industry
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