423940 - Jewelry, Watch, Precious Stone, and Precious Metal Merchant Wholesalers
Introduction
Delving into the world of luxury goods distribution, NAICS code 423940 plays a vital role in the wholesale trade sector. This classification is essential for businesses involved in the merchant wholesale of jewelry, watches, precious stones, and precious metals. Whether you’re a retailer hunting for trusted wholesalers or a supplier exploring government contracting opportunities, understanding this NAICS code unlocks access to an exclusive network of wholesalers operating behind the scenes in the fine jewelry and precious metals market.
What is NAICS Code 423940?
NAICS code 423940 refers to:
Establishments primarily engaged in the merchant wholesale distribution of jewelry, watches, precious stones, and precious metals. These wholesalers sell to retailers, other wholesalers, or commercial users rather than directly to consumers.
Sector
- Wholesale Trade
Size Standard for Eligibility
- Businesses under NAICS 423940 are generally considered small if they have 125 or fewer employees. This size standard is used by government agencies to determine eligibility for small business contracts and other programs.
Typical Business Activities Under NAICS 423940
Businesses classified with NAICS 423940 typically engage in:
- Wholesale distribution of fine jewelry and watches
- Merchant dealing in precious stones and diamonds
- Wholesale trading of gold, silver, and other precious metals
- Selling to retailers, commercial users, or other wholesalers rather than directly to end consumers
Types of Businesses in This NAICS Code
Examples include:
- Wholesale distributors specializing in diamond and gemstone jewelry
- Merchants supplying watch manufacturers and retailers
- Dealers of precious metal bullion and coin collections
- Providers of jewelry findings and components to manufacturers and jewelers
Detailed Breakdown of NAICS Code 423940
| Code Description | Activity |
|---|---|
| Antique jewelry merchant wholesalers | Distributing vintage and antique jewelry |
| Clocks merchant wholesalers | Wholesale of clocks |
| Coins merchant wholesalers | Wholesale distribution of collectible coins |
| Costume jewelry merchant wholesalers | Wholesale of fashion jewelry |
| Diamonds (except industrial) merchant wholesalers | Wholesale diamonds for jewelry and investments |
| Flatware, precious and plated, merchant wholesalers | Distribution of silverware and plated flatware |
| Gem stones merchant wholesalers | Wholesale gems and precious stones |
| Hollowware, precious metal, merchant wholesalers | Distribution of precious metal tableware |
| Ingots, precious, merchant wholesalers | Wholesale precious metal bars and ingots |
| Jewelers' findings merchant wholesalers | Distributing jewelry components like clasps |
| Jewelry merchant wholesalers | Wholesale fine and costume jewelry |
| Medallions merchant wholesalers | Distribution of commemorative medallions |
| Metals, precious, merchant wholesalers | Wholesale gold, silver, platinum, and others |
| Numismatic goods merchant wholesalers | Wholesale coins and collectibles |
| Pearls merchant wholesalers | Wholesale pearls |
| Plated metal cutlery or flatware merchant wholesalers | Distribution of plated cutlery and flatware |
| Precious and semiprecious stones merchant wholesalers | Wholesale of valuable and semi-valuable stones |
| Precious metals merchant wholesalers | Wholesale precious metals like gold, silver |
| Silverware, precious and plated, merchant wholesalers | Wholesale silverware |
| Stones, precious and semiprecious, merchant wholesalers | Wholesale precious and semiprecious stones |
| Tableware, precious and plated, merchant wholesalers | Wholesale plates, serving ware |
| Trophies merchant wholesalers | Wholesale trophies and awards |
| Watchcases merchant wholesalers | Wholesale distribution of watch cases |
| Watches and parts merchant wholesalers | Wholesale watches and spare parts |
Why This NAICS Code Matters
If you are a supplier or buyer in the jewelry and precious metals market, knowing about NAICS 423940 helps identify key players and business opportunities. Additionally, firms in this category can leverage this classification for government contracting, financing, and growth programs targeted at small businesses.
Frequently Asked Questions (FAQs)
What businesses fall under NAICS 423940?
Businesses mainly involved in the wholesale distribution of jewelry, watches, precious stones, and precious metals.
Does NAICS 423940 include retail sales to consumers?
No, it covers merchant wholesalers who sell to retailers, other wholesalers, or commercial users—not directly to the public.
What is the employee size standard for NAICS 423940?
The size standard is 125 employees, which defines eligibility for small business programs.
Are costume jewelry wholesalers included in this NAICS code?
Yes, they are a specific subgroup under this classification.
Can businesses dealing with coins and numismatics be classified under this code?
Yes, merchants wholesaling collectible coins and numismatic goods are included.
Understanding NAICS code 423940 is crucial for businesses navigating the wholesale trade of luxury jewelry, timepieces, precious stones, and metals. Whether you’re scaling your wholesale operations or seeking contracting opportunities, this classification provides a structured pathway for growth in a specialized marketplace.
