45831 - Jewelry Retailers
The world of retail is vast and diverse, and among its sparkling niches lies NAICS code 45831 - Jewelry Retailers. This classification identifies businesses that specialize in the sale of new jewelry items like precious metals, gemstones, and other finely crafted accessories. Whether you're a business owner, supplier, or government contractor, understanding this NAICS code is essential for navigating the jewelry retail marketplace.
What is NAICS Code 45831?
NAICS Code 45831 specifically covers establishments primarily engaged in retailing new jewelry. These businesses often offer a range of services, including:
- Retail sale of jewelry made from precious metals (gold, silver, platinum)
- Selling loose and set gemstones
- Offering repair, maintenance, and customization of jewelry
- Retailing watches, clocks, and related accessories
These establishments may function as standalone jewelry stores or boutiques within larger retail environments.
Sector Overview: Retail Trade
NAICS Code 45831 falls under the broader Retail Trade sector, which includes businesses engaged in selling goods directly to consumers. Jewelry retailers operate in a specialized retail niche, providing luxury items that often combine fashion with investment value.
Typical Business Activities Under NAICS 45831
Businesses in this code typically engage in:
- Selling fine jewelry, including engagement rings, necklaces, bracelets, and earrings
- Offering custom jewelry design and modification services
- Retailing watches and clocks from various brands
- Dealing in precious stones and metals as both retail and wholesale
- Providing jewelry appraisal and repair services
Examples of Businesses Under NAICS 45831
- Independent Jewelry Stores
- Chain Jewelry Retail Outlets
- Watch and Clock Retail Shops
- Precious Stone and Metal Dealers
Small Business Size Standards for Jewelry Retailers (NAICS 45831)
The U.S. Small Business Administration (SBA) sets size standards to determine eligibility for government contracting and assistance programs. For NAICS code 45831 (Jewelry Retailers):
- Size Standard: Businesses are considered small if they have $16.5 million or less in average annual receipts.
Understanding this threshold is crucial for jewelry retailers seeking to qualify for small business programs or government contracts.
NAICS 45831 Code Details Table
| Aspect | Detail |
|---|---|
| NAICS Code | 45831 |
| Title | Jewelry Retailers |
| Description | Establishments primarily engaged in retailing new jewelry, including precious metals, gemstones, and related items. May also provide repair and customization services. |
| Sector | Retail Trade |
| Size Standard (SBA) | $16.5 million or less in average annual receipts |
| Typical Businesses | Jewelry Stores, Watch and Clock Retailers, Precious Stone and Metal Dealers |
| Services | Retail sales, repair, customization, appraisal |
Frequently Asked Questions (FAQ) About NAICS 45831 - Jewelry Retailers
Q1: Can jewelry repair shops fall under NAICS 45831?
A: Yes, if the primary business is retailing new jewelry and they also offer repair and customization services, they qualify under this code.
Q2: Are online jewelry retailers included in NAICS 45831?
A: Yes, as long as the business primarily sells new jewelry directly to consumers, online jewelry retailers are classified here.
Q3: What is the significance of the size standard for jewelry retailers?
A: The size standard determines eligibility for small business programs and federal contracting opportunities. Jewelry retailers with average annual receipts under $16.5 million qualify as small businesses.
Q4: How does NAICS 45831 differ from wholesale jewelry merchants?
A: NAICS 45831 specifically covers retailersābusinesses that sell directly to consumers. Wholesale jewelry merchants, who sell to other businesses rather than the end consumer, fall under different NAICS codes.
Q5: What services can jewelry retailers provide apart from sales?
A: They often offer jewelry repair, cleaning, customization, gemstone setting, and appraisal services.
Final Thoughts
NAICS code 45831 - Jewelry Retailers encompasses an essential segment within the retail trade industry, representing numerous businesses that provide consumers with exquisite jewelry and personalized services. Whether you're a business seeking certification or a customer interested in the industry, understanding this code helps navigate the sparkling world of jewelry retail.
Keywords: NAICS code 45831, Jewelry Retailers, jewelry stores, precious metals, gemstones, jewelry repair, retail trade, small business size standards, jewelry customization, watch retailers, government contracting jewelry retailers
