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NAICS Code 459510-20 Description (8-Digit)

Jewelry-Bought (Retail) is a subdivision of the Used Merchandise Retailers industry that involves the retail sale of previously owned jewelry. This industry includes establishments that purchase jewelry from individuals and then sell it to consumers. The jewelry sold in this industry can range from high-end luxury items to costume jewelry.

Hierarchy Navigation for NAICS Code 459510-20

Parent Code (less specific)

Tools

Tools commonly used in the Jewelry-Bought (Retail) industry for day-to-day tasks and operations.

  • Jewelry cleaning solutions
  • Jewelry polishing cloths
  • Jewelry pliers
  • Jewelry cutters
  • Jewelry scales
  • Loupes
  • Diamond testers
  • Ultrasonic cleaners
  • Jewelry steam cleaners
  • Ring sizing tools

Industry Examples of Jewelry-Bought (Retail)

Common products and services typical of NAICS Code 459510-20, illustrating the main business activities and contributions to the market.

  • Vintage diamond rings
  • Gold necklaces
  • Sterling silver bracelets
  • Costume jewelry sets
  • Antique brooches
  • Pearl earrings
  • Gemstone pendants
  • Diamond tennis bracelets
  • Men's watches
  • Women's watches

Certifications, Compliance and Licenses for NAICS Code 459510-20 - Jewelry-Bought (Retail)

The specific certifications, permits, licenses, and regulatory compliance requirements within the United States for this industry.

  • Gemological Institute Of America (GIA) Certification: GIA is a nonprofit institute that provides education and research in the field of gemology and jewelry arts. Their certification program covers topics such as diamond grading, colored stone grading, and jewelry design. This certification is highly respected in the industry and is often required for employment in high-end jewelry stores.
  • Jewelers Of America (JA) Certification: JA is a national trade association for businesses serving the fine jewelry marketplace. They offer a variety of certification programs, including Certified Bench Jeweler Technician, Certified Sales Professional, and Certified Management Professional. These certifications demonstrate a high level of expertise in the jewelry industry and can help individuals advance their careers.
  • Responsible Jewellery Council (RJC) Certification: The RJC is a nonprofit organization that promotes responsible ethical, social, and environmental practices in the jewelry supply chain. Their certification program covers topics such as human rights, labor rights, environmental impact, and product disclosure. This certification is becoming increasingly important as consumers demand more transparency and sustainability in the products they purchase.
  • Jewelers Vigilance Committee (JVC) Certification: The JVC is a nonprofit organization that provides legal education and compliance services to the jewelry industry. They offer a certification program called "J-Biz" that covers topics such as anti-money laundering, anti-terrorism financing, and data privacy. This certification can help businesses stay compliant with legal and regulatory requirements.
  • National Association Of Jewelry Appraisers (NAJA) Certification: The NAJA is a professional association for jewelry appraisers. They offer a certification program that covers topics such as gemology, appraisal theory, and ethics. This certification can help appraisers demonstrate their expertise and credibility to clients.

History

A concise historical narrative of NAICS Code 459510-20 covering global milestones and recent developments within the United States.

  • The history of the "Jewelry-Bought (Retail)" industry dates back to ancient times when jewelry was used as a symbol of wealth and status. The first recorded jewelry pieces were made in Egypt around 3,000 BC, and since then, the industry has evolved significantly. In the 19th century, the discovery of diamonds in South Africa led to a surge in demand for diamond jewelry, and the industry continued to grow. In the United States, the industry saw significant growth in the 20th century, with the rise of department stores and the introduction of mass-produced jewelry. In recent years, the industry has seen a shift towards more personalized and unique pieces, with consumers seeking out handmade and artisanal jewelry.

Future Outlook for Jewelry-Bought (Retail)

The anticipated future trajectory of the NAICS 459510-20 industry in the USA, offering insights into potential trends, innovations, and challenges expected to shape its landscape.

  • Growth Prediction: Stable

    The future outlook for the "Jewelry-Bought (Retail)" industry in the USA is positive. The industry is expected to grow due to the increasing demand for jewelry from consumers. The rise in disposable income and the growing popularity of online shopping are also expected to contribute to the growth of the industry. However, the industry may face challenges due to the increasing competition from online retailers and the changing consumer preferences. To stay competitive, retailers may need to focus on providing unique and personalized shopping experiences to their customers.

Industry Innovations for NAICS Code 459510-20

Recent groundbreaking advancements and milestones in the Jewelry-Bought (Retail) industry, reflecting notable innovations that have reshaped its landscape.

  • Virtual Try-On Technology: Many retailers are now offering virtual try-on technology that allows customers to see how a piece of jewelry would look on them before making a purchase.
  • Sustainable and Ethical Jewelry: Consumers are increasingly concerned about the environmental and social impact of their purchases. As a result, many retailers are now offering sustainable and ethical jewelry options.
  • Customization: Many retailers are now offering customization options that allow customers to create their own unique pieces of jewelry.
  • Augmented Reality: Some retailers are now using augmented reality technology to enhance the shopping experience for their customers.
  • Social Media Marketing: Many retailers are now using social media platforms to market their products and reach a wider audience.

NAICS Code 459510-20 - Jewelry-Bought (Retail)

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