WWD: Other than the big three, which watch brands hold their value in the secondhand market and are top sellers?Īlexandre Ghotbi: There are some brands that hold their value very well such as F.P. Vacheron Constantin Overseas: European Watch CompanyĪlexandre Ghotbi, h ead of department, Continental Europe and Middle East, at Phillips Watches WWD: With most secondhand retailers having dedicated online stores, will this new boom mean consumers will begin to turn their backs on traditional watch retail? Everyone is different and connects with different brands for different reasons, so it’s tough to say that one is more emotional than another, but Rolex has traditionally been considered to be “money in the bank” and is probably the brand that most people use for investment purposes. Whenever you have something that can potentially earn a large return, you’re bound to eventually see people start treating it more as an investment vehicle. It’s very similar to what has happened with art or wine or vintage cars over the past 10 to 15 years. J.G.: We have definitely seen an increase in people viewing watches as investments. WWD: Have there been any shifts on the customer side with people thinking about a watch as an investment piece? Are there some brands that are more collateral and some brands that are more emotional? WWD: Other than the coastal U.S.A., what are some other big markets for secondhand watch sales? What do you attribute this to? The growth of the secondary market has really opened the hobby up to more people as you no longer need to have a relationship with an authorized dealer or brand boutique in order to find pieces and it’s easier than ever now to trade an old piece that might be sitting unused in a drawer for something newer and more exciting. We see people from all walks of life, all ages, all backgrounds, all industries, the one thing they have in common is a passion for watches. J.G.: It’s tough to boil it down to one single profile that captures all of our buyers. WWD: What is the client profile of a person who buys on the secondhand market? How has the resale market opened the category to a new type of customer? Journe has been incredibly strong across the board and certain sport models from Vacheron Constantin, like the Overseas, have also been in high demand and have been selling for well-over MSRP. Joshua Ganjei: Rolex, AP and Patek Philippe are definitely the gold standard when it comes to value retention, but there are a few other brands that also do well on the secondary market. WWD: Other than the big three (Rolex, Audemars Piguet, Patek Philippe), which watch brands hold their value in the second hand market and are top sellers? Joshua Ganjei, chief executive officer, European Watch Company Here, WWD speaks with several tastemakers and specialists on the current state of the pre-owned watch market. Many continue to wonder how long it will be before the bubble bursts on the watch market. The secondhand luxury watch market is growing so fast that soon the market for new watches could begin to shrink, especially with the boom of a new breed of upscale pre-owned retailers such as WatchBox, WatchFinder and Chronext. Social media content and editorial content focusing on watches have become much broader factors that make it more approachable, including for younger generations, as luxury watch-related content generating more than 173 million views on TikTok alone.Īnother key factor has been the surge in pricing controlled by dealers, which has caused watch brands to sit up and take notice, with several brands opting to reduce their number of authorized dealers and shift to a boutique model, allowing them to keep better track of their stock. Issey Miyake Dies at 84: A Look Back at the Designer’s Careerīut scarcity isn’t the only factor driving the watch gold rush.
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