Is There a Market For Pre-Owned Luxury Watches?
Since the Covid-19 pandemic, demand for niche watches has surged to great heights. Many new start-ups have entered the market to get the first-mover advantage of selling pre-owned watches. Since the top watch brands like Rolex, Richard Mille, etc. have refused to increase their production to maintain the rarity of their timepieces, there has been a boom in the online business of buying and selling pre-owned luxury watches . A rise in demand has resulted in an equal increase in the number of watch-selling platforms. As people realize that many luxury watches’ value appreciates with time, they have become even more inclined to sell their watches either to get more money or to buy the latest model of a watch. There are a lot of options out there to sell your watches: Auction Houses: They are fashionable venues to sell your luxury watches. You are more likely to get a higher price for your piece as the buyers are mostly wealthy people willing to spend a large amoun...