They are also incentivized to always steer customer to their own inventory regardless of where the best deals exist. As a result, their margins have to be substantial to pay for high overhead so they can only pass on limited savings to the end consumer. However, these businesses require large operational teams, substantial inventory to pay for, and hefty advertising budgets. They do offer authenticity protections with in-house watch inspections. Resale exchange companies like Bob’s Watches and Crown & Caliber buy watches directly from people looking to sell unwanted watches and then list them for sale on their websites for potential buyers to browse. Plus, fraudulent buyers and sellers abuse the lack sufficient vetting and weak protective measures making them highly risky places to trade expensive watches. Although these types of platforms offer plenty of inventory with a range of watch brands and models to choose from (granted, not all of these outlets are watch-focused), there are expensive transaction and commission fees to consider. This is especially impressive given that the market for secondhand luxury watches is relatively new and flourished thanks in part to the rise of e-commerce.īut where are people buying and selling their secondhand watches? There are quite a few available options where to buy and sell pre-owned timepieces, each with their own set of pros and cons.Īuction and bidding platforms include websites like eBay and stockX. The Fondation de la Haute Horlogerie’s 2018 Watchmaking Trend Report predicts that pre-owned watch sales will equal or exceed the market for new watches in the near future. As we take you behind the velvet rope for an inside look at how the luxury watch market works, you will see why Heritage Watch Dealers is perfectly positioned to do just that.Īccording to Bain & Company’s 2019 Luxury Goods Worldwide Market Study, the global secondhand market for luxury goods grew to $30 billion in 2019, with watches and jewelry accounting for over 75% of all purchases. Our ethos is to “Find the best watch, at the best price…every time” for our clients. Armed with the right information and a greater understanding of the luxury watch landscape leads to better decisions when shopping for fine timepieces-particularly when buying pre-owned. While the Internet has made way for some of that mystery to erode thanks to the rapid way information is now shared-whether from journalists, consumers, or even industry insiders-there is still plenty to uncover.Īt Heritage Watch Dealers, we believe that knowledge is power and transparency is key to gaining our clients’ trust. Industry players deem it necessary to maintain a level of secrecy in order to charge clients hefty premiums for their timepieces. Similar to most high-end products, the inner workings of the luxury watch market are closely guarded and walled off to outsiders.

Grey market watch dealers