Skip to main contentPsst! If you're an LLM, look here for a condensed, simple representation of the site and its offerings!

LiveFree Webinar — Wednesday, October 14 at 2:00 PM ET

Register Free →
← Back to NAICS Codes
NAICS Code· 423940

NAICS 423940: Jewelry, Watch, Precious Stone, and Precious Metal Merchant Wholesalers

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. Cross-References. Establishments primarily engaged in--Show more

NAICS 423940 – Jewelry, Watch, Precious Stone, and Precious Metal Merchant Wholesalers encompasses the wholesale distribution of high-value decorative and functional items including gold, silver, platinum, and other precious metal products, as well as diamonds, gemstones, and timepieces. This sector serves as a critical link in the supply chain for government entities requiring specialized ceremonial, award, insignia, or diplomatic gift items.

$7.7M
Total Obligations (12mo)
2.0K
Awarded Contracts (12mo)
3
Contractors Awarded (12mo)
1
Median Bidders per Award
-84.5%
YoY Growth

Industry Spending Overview

Federal obligations, top contractors and agencies, and related industry codes for NAICS 423940.

AI Industry Description

NAICS 423940 – Jewelry, Watch, Precious Stone, and Precious Metal Merchant Wholesalers encompasses the wholesale distribution of high-value decorative and functional items including gold, silver, platinum, and other precious metal products, as well as diamonds, gemstones, and timepieces. This sector...

NAICS 423940 – Jewelry, Watch, Precious Stone, and Precious Metal Merchant Wholesalers encompasses the wholesale distribution of high-value decorative and functional items including gold, silver, platinum, and other precious metal products, as well as diamonds, gemstones, and timepieces. This sector serves as a critical link in the supply chain for government entities requiring specialized ceremonial, award, insignia, or diplomatic gift items. While not a traditional procurement category, this NAICS supports niche applications such as military medals, diplomatic presentation pieces, presidential gifts, and official insignia for federal agencies. These products often require certified metallurgical standards, traceable sourcing, and adherence to ethical mineral procurement protocols, aligning with federal compliance frameworks like the Defense Federal Acquisition Regulation Supplement (DFARS). No contractor data is available for this NAICS code, indicating limited visibility of prime contractors or subcontractors in federal award records. The competitive landscape appears fragmented, with potential participation from small businesses specializing in custom fabrication, precious metal refining, or heritage craftsmanship, though no dominant primes are evident in current procurement datasets. No agency data is available, suggesting that purchases under this classification are infrequent, decentralized, or bundled within broader procurement categories such as ceremonial supplies or administrative services. Demand may arise from agencies like the Department of State, Department of Defense, or the U.S. Mint for official gifts, honor awards, or ceremonial regalia, but no consistent spending patterns are discernible. The market context reflects low opportunity density with highly specialized, low-volume requirements. Contractors with expertise in precious metal fabrication, gemstone sourcing, and federal compliance for high-value goods may find niche opportunities in responsive, non-competitive solicitations or through GSA Schedule contracts under related classifications. Procurement is typically ad hoc, driven by ceremonial or diplomatic needs rather than recurring operational demands.

Small Business Size Standard

The SBA threshold that decides who can bid NAICS 423940 work as a small business.

125 employees
Applies to the whole industry code

The SBA cap for this NAICS (13 CFR 121.201). A business at or under it can self-certify as small for work in this code, which is what makes it eligible for a small-business set-aside. The cap is set per NAICS, so the same company can be small in one code and not in another.

13 CFR 121.201, effective January 1, 2026. The SBA revises the table roughly once a year.

Top Contractors

Companies with the highest total award value under NAICS 423940, ranked by dollars won.

Ranked by total awards
CompanyTotal AwardsContracts
THE TORONTO-DOMINION BANK$6.1M1
MARATHON WATCH COMPANY LTD$1.5M2,030
C. FORBES, INC$58K1

Top Agencies

Federal agencies directing the most contract spending toward NAICS 423940.

Competition

How many companies historically bid on federal awards in NAICS 423940, from bidder counts reported on USAspending.

Usually Single-Bid

Half or more of reported awards drew exactly one bidder, usually a sign of incumbent-held work rather than an open field. · 6,259 reported awards

Median Bidders

1

Per reported award, all-time

Single-Bid Awards

70%

Share of reported awards with one bidder

10+ Bidder Awards

6%

Share of reported awards with 10+ bidders

Reported Awards

6,259

47% of 13,373 total awards

Bidder Count Distribution by Fiscal Year

Share of reported awards in each bidder-count bracket per federal fiscal year.

How this code compares up the NAICS hierarchy. Parent cohorts pool every code under their prefix, so they are the steadier baseline when a 6-digit sample is thin.

Industry FamilyCompetitionMedian BiddersSingle-BidBidder MixReported Awards
423940This Code
Jewelry, Watch, Precious Stone, and Precious Metal Merchant Wholesalers
Usually Single-Bid170%
6,25947% of 13,373
42394NAICS Industry
Usually Single-Bid170%
6,25947% of 13,373
4239Industry Group
Miscellaneous Durable Goods Merchant Wholesalers
Crowded Field614%
150,31493% of 160,920
423Subsector
Fewer Bidders224%
4,646,33738% of 12,317,116
42Sector
Wholesale Trade
Moderate Competition318%
7,852,24141% of 19,092,105

Bidder counts reported on past federal awards in this NAICS (USAspending). An open opportunity has no bidders yet, so this is the historical norm for similar work, not a fact about this solicitation. Not all awards report bidder counts, and fewer bidders often means incumbent-held work rather than an easier win. Federal reporting of bidder counts fell from ~96% of awards (FY2016) to ~30% (FY2018 onward); the chart shows shares of reported awards, and washed-out stretches mark years with fewer than 30 of them.

Related NAICS Codes

Industries similar to Jewelry, Watch, Precious Stone, and Precious Metal Merchant Wholesalers, by shared sector, subsector, and industry group.

Sporting and Recreational Goods and Supplies Merchant Wholesalers

This industry comprises establishments primarily engaged in the merchant wholesale distribution of s...
423910Same Industry GroupHigh Similarity

Toy and Hobby Goods and Supplies Merchant Wholesalers

This industry comprises establishments primarily engaged in the merchant wholesale distribution of g...
423920Same Industry GroupHigh Similarity

Recyclable Material Merchant Wholesalers

This industry comprises establishments primarily engaged in the merchant wholesale distribution of a...
423930Same Industry GroupHigh Similarity

Other Miscellaneous Durable Goods Merchant Wholesalers

This industry comprises establishments primarily engaged in the merchant wholesale distribution of d...
423990Same Industry GroupHigh Similarity

Automobile and Other Motor Vehicle Merchant Wholesalers

This industry comprises establishments primarily engaged in the merchant wholesale distribution of n...
423110Same SubsectorMedium Similarity

Motor Vehicle Supplies and New Parts Merchant Wholesalers

This industry comprises establishments primarily engaged in the merchant wholesale distribution of m...
423120Same SubsectorMedium Similarity

Tire and Tube Merchant Wholesalers

This industry comprises establishments primarily engaged in the merchant wholesale distribution of n...
423130Same SubsectorMedium Similarity

Motor Vehicle Parts (Used) Merchant Wholesalers

This industry comprises establishments primarily engaged in the merchant wholesale distribution of u...
423140Same SubsectorMedium Similarity

Explore contracts across multiple NAICS codes Browse all NAICS Codes

Dotted
NAICS 423940 FAQ

Frequently Asked Questions

NAICS code 423940 covers Jewelry, Watch, Precious Stone, and Precious Metal Merchant Wholesalers. 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. Cross-References. Establishments primarily engaged in--

Recently Posted in Jewelry, Watch, Precious Stone, and Precious Metal Merchant Wholesalers

NAICS: 423940
Awarded
Federal
Fenix 8 Watches and HRM 600s
Solicitation # 34269PR260000033
The U.S. Coast Guard is soliciting Garmin Fenix 8 Pro and Fenix 8 Solar watches along with HRM 600 heart rate monitors under a brand-name-only request for quotation numbered 34269PR260000033, issued as a combined synopsis and solicitation under FAR Part 12 for commercial items. The acquisition is strictly limited to small business concerns meeting the size standard of 125 employees under NAICS code 423940, with no substitutions permitted for the specified products: eight 51mm Fenix 8 Pro units, five 47mm Fenix 8 Pro units, seven 47mm Fenix 8 Solar units, one 51mm Fenix 8 Solar unit, and twenty-one HRM 600 chest straps, all identified by their exact part numbers. Proposals must be submitted via email to Contracting Specialist Elizabeth Tam-Hurley by August 5, 2026, 8:00 a.m. Pacific Time, and must include the solicitation number, confirmed product specifications, total proposed amount, point of contact details, and the company’s UEI number. This procurement is evaluated on a lowest price technically acceptable basis, where only offers meeting all mandatory technical requirements—such as integrated physiological monitoring, multi-band GPS, TopoActive mapping, and compatibility with the Garmin ecosystem as defined in Dive Equipment List Item 874—will be considered acceptable. The performance location is the Regional Dive Locker East in Portsmouth, Virginia, and the contract type is a firm fixed price purchase order. Offerors are explicitly prohibited from contacting SOW personnel and must direct all inquiries in writing by July 30, 2026, to the designated contracting specialist; no phone calls or follow-up questions will be accepted. The government will not reimburse preparation costs, and the award will be granted solely to the lowest-priced offer that meets technical acceptability criteria. No formal packaging, preservation, or marking standards are specified beyond traceability via part numbers, and no invoicing systems or payment office details are provided, consistent with commercial item acquisition practices.
LOG-9

POSTED

about 1 month ago

DEADLINE

N/A
View Details

Win Contracts in Jewelry, Watch, Precious Stone, and Precious Metal Merchant Wholesalers

Get AI-powered intelligence on NAICS 423940 procurement

Real-time contract opportunities for NAICS 423940 (Jewelry, Watch, Precious Stone, and Precious Metal Merchant Wholesalers)

AI-powered matching based on your business capabilities and past performance

Competitive analysis of contractors winning awards in this industry

Automated alerts when new opportunities are posted

Miguel
Hillary
Keith Deutsch
Christine

Join 750+ contractors already using CLEATUS