Show Report: The International Watch and Jewelry Guild

The IWJG show is really the only place in the world where six figure watches are thrown around like fruit in a fruit stand. It’s basically a bazaar, but I wouldn’t have it any other way.

The International Watch and Jewelry Guild is a show that takes place once a month in Miami, New York, Texas, and Las Vegas. It’s a bit secretive and selective with who comes in and out of the shows as the watch dealing community in the US is tight-knit and everyone knows each other for the most part.

The show's style is quite primitive in regards to trust from dealer to dealer, how deals are made, and the casualness of it all. There is a correlation, at least at watch shows, with the more poorly dressed one is, the more money they have. It’s insane to see dealers worth tens of millions of dollars, wearing solid gold Nautiluses and platinum Daytonas, but looking like they can use a fresh pair of pants. The dress code is a shirt and jeans (shorts are for the real dealers, I have a long way to go).

Everyone knows each other in the room, making it much easier to do business with one another as hundreds of thousands of dollars are easily exchanged based on “mazal” (a word that both we Jewish and non-Jewish dealers alike use to close a deal). Newcomers to these shows will be surprised by how watches are laid out, thrown around, and being treated. What watch geeks cherish and love both aesthetically and mechanically, are merely commodities being traded across the room.

Imagine a traditional stock exchange, before trading was conducted online. It’s just screaming stockbrokers trying to fulfill orders. It’s the same way with watch dealers. People might think that dealers are making a killing selling watches when in fact, margins are getting smaller and smaller. To be honest, pricing was not that different from New York, where I find much of my inventory. To be fair, I found my share of good deals with some vintage Rolex and Cartier, with some negotiation (borderline harassment), but it’s getting more and more difficult to source quality watches as people are smartening up and asking higher prices.

I attended the IWJG show in Las Vegas more for the social scene. It’s nice to be seen and associated with other big dealers in this compact room, like Roman Sharf from Luxury Bazaar, TimePiece Trading, Chronostore. Dealers are making $500 if they’re lucky on a $30,000 Rolex. Whether that’s a smart move is up to you, but that’s the whole game for many of the dealers at the show. It’s turnover, turnover, turnover. Dealers need to move product units. There's a lot of money circulating in the room and even more pressure that goes along with it.

IWJG is old school when it comes to its members. Everyone knows each other and a newcomer has to have references. Yes, it’s fun to attend these shows and handle so many great watches that I have never held before, but the best part about all of this are the different personalities all in one room (Gai Gohari especially, who really helped me out and became a great friend along the way!)

From money-hungry to passionate, modern Rolex-heavy to the most interesting vintage watches in the world, it’s all there. I got to see old friends and familiar faces after two years of not attending and had the pleasure of meeting new dealers from across the world. I will tell you this: Selling watches is harder than what people make it out to be, like any other business, but the highlight of my job is the personal interactions with both the dealer and customer. I love meeting new collectors, handling new watches, and learning the business.

As a young dealer, I definitely get looks at shows, as it's still an “old guys” job. But fellow dealers at the show love and encourage it, as the hobby and business needs younger guys (and gals) to get in the game and pay attention to vintage watches.

Dealers still joke that I should be in school, but years later, I’m still going from table to table, asking guys if they have any vintage Datejusts.

Daniel Matatov is, of course, “Danny” of Danny’s Vintage Watches. If you have a pitch for us, reach out through our Contact form or send it to @iamjoshcameron on Instagram.