IWJG November 2012 Miami Show Report
Miami November 2012... Let's put some perspective on Miami... Following New York is not easy, yet Miami was only about 22% smaller than New York. This was the largest November show in IWJG history. 45% more table holders than our largest Dallas show. Over 100% more buyers in attendance than our largest previous November Show (2011) and results, well do not take our word for it... Listen to what your fellow members had to say.
Drew Knoll... Great show. Gabe Arik... Very good show. Peter Chou... Very good show. Alex Roiz (and Gary)... Very good show. Bob Wingate... Good show. Roman Shalomov... Good show. Tommy Labret... Very good buying show... Fred Hakimian... Great show. Temuri Nanikashvili... Good show. Mark Nance... Good show. The Gruenbergs reported a good Miami show. Roman Buslavich and Kamil Hakimian reported good shows. Joe Demesy... Good show. Roman Sharf... Very good show. Marisela Reyes... Good show. Julio Canosa... Very good show. Howard Frum... Best buying show EVER! Bob Maron... Good show (Great article in OM on Bob). Eddie with Ed Techili... Monday was a little slow but I got busy Tuesday and had a good show. These are just a sample of what we heard plus several dealers who like to stay under the radar, reported in with very good shows.
What was selling? Almost everything fresh, modern and in good condition for watch dealers. Several reported that Pateks, Rolex, Cartier, Breitling (the usual suspects), plus vintage and earlier modern watches (plastic crystals/ lower price points) were moving very well. Diamonds in the 1 to 2 carat range were selling as well as 2 to 3 carats. Larger stones had some resistance but if it was a very good stone, everybody wanted a piece of the action.
We do not want to sound like Pollyanna. Just like all shows (including New York October), some dealers found this show to be a little soft for selling however reports keep coming in, that goods priced realistically for the marketplace were moving. All we know is what we hear from the membership. If you have the right merchandise and it is priced right, you can sell as much as you can ship in. If you're not selling then I( and other members) suggest that you take a hard look at your inventory and pricing. The proliferation of information has given our business more of a commodity profile.
Example, if you are holding a stock and you want $50.00 per share and the current market price is $48.00 per share, you have decisions to make. Keep holding and hope it comes back up or sell and buy something else and make a profit on the new item. Our market price changes constantly. Some shows allow you to sit behind your table and sell, sell, sell. Other shows require working the floor to sell merchandise while other shows require an alert dealer to buy on the floor and make a good show from the buy end. Just like real estate, if a Realtor can only find success in a hot sellers market, that Realtor will stagnate when the market swings.
No one is trying to tell this membership how to do business. You are the best in the world and you know your business. We are proud of our members, and because we are a true guild, we listen to you and try to give you feedback from an IWJG global view. If you find yourself thinking "this was a soft show for me" while other members are reporting good, very good and great results, maybe some adjustments are in order.
Think about this... Miami had 700 buyers in the room. A typical Houston show recorded 60 to 75 dealers and yet my phone is ringing with dealers swearing that Houston is one of their favorite shows and begging for us to hold a show on December 3rd and 4th. We don't know, but we believe if 70 dealers make for a good show, with 700 watch and jewelry buyers in one room, if you want to sell or buy and you are in line with the market, you can have a good (not always a home run) show. We are here to help. Let us know what you think.
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 7,400 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.