IWJG October 2011 New York Show Report
The International Watch and Jewelry Guild, October 2011, New York City Show has just closed and what a show it was!
The Watch and Jewelry Industry is quickly becoming more commodity-oriented than ever before. Prices move quickly but the value in the marketplace still remains. General consensus of IWJG members supports the fact that there is a slight softening in the volume of merchandise movement. However, it's important to note that prices remain firm. Dealers that were expecting cut rate prices on either the buy or sell side were disappointed. Prime merchandise is still bringing prime pricing. One additional influence on the marketplace seems to be the current "dumping" of brand-new Rolex product. This will be temporary but it is an issue for today's marketplace.
What does all this mean for the rank and file watch and jewelry dealer in today's pre-owned marketplace? Think of the marketplace as a train moving through a station. It's always moving but its speed varies slightly. If you want to take advantage of the marketplace, you must match your speed to the speed of the train and make sure you are in front of a door when it opens to take advantage of the opportunity. The Watch and Jewelry Marketplace is constantly varying from a price and desired inventory standpoint. Dealers that fight the marketplace are disappointed. Dealers that adjust to the changes in the marketplace are rewarded.
Joe Nelson, Executive Director of The International Watch and Jewelry Guild reports "we had over 1,000 dealers at the show. It was a big room and a big crowd. The size of the room required buyers to take a lot of time to go through the hundreds of exhibitors to find the merchandise they wanted at a price they were willing to pay, but pay they did." Nelson continued, "At the end of the first day, several dealers claimed that the New York Oct 2011 show was their best show ever. Newton Ng, Gabe Arick, Gary Zumwalt, Robert Ramos, Michel Mottale and Byron Eder, along with many others reported phenomenal show results. Several dealers reported first day sales of mid-six figures. Some reported high-six figures and more than one dealer reported seven-figure sales for this show. Day Two had action on the floor early. Many dealers that shopped the floor hard on Day One, returned on Day Two and focused on buying the best merchandise on the floor at the best prices available. Activity remained very strong right up until the close of the show. Once again, I should reiterate, that that buyers looking for the lowest prices in most cases were disappointed. Sellers looking for the highest market prices also found the show soft. However, the dealers that matched their offers to the ever-moving market left New York with big smiles on their faces."
All in all, The International Watch and Jewelry Guild show, New York City, October 2011, was a very good show.
If you would like to share your show report with our membership, submit it as soon after the show as possible to Info@iwjg.com, attention Joe Nelson and we will do our best to include all comments.
For updates, check your e-mails, visit the IWJG website at www.IWJG.com or join us on Facebook at http://www.facebook.com/theiwjg or Twitter at www.twitter.com/iwjg.
Serving the Best Membership in the World!!!
Olga Cortez Bullock, Joe Nelson and the IWJG Staff
About the International Watch and Jewelry Guild (IWJG)
Since 1985, the IWJG has been conducting 12 to 14 annual cash and carry trade show events throughout the US. The members only shows are supported by over
of the world's foremost professional watch and jewelry dealers from
72 countries. The IWJG members and shows stake claim to hundreds of millions of dollars in watch and jewelry inventory. For general questions or information on becoming a member visit our website at www.iwjg.com or call us toll free at 800-554-4992. You can also visit us on Facebook at http://www.iwjg.net/facebook for more information or Twitter at http://www.twitter.com/iwjg.