PRE-LOVED MARKET GROWTH
The hard luxury resale market is booming . Leading the charge in pre-loved and vintage luxury watches are British auction houses Christie ’ s and Sotheby ’ s . Several large brands that initially regarded the secondhand watch business as a competitor have more recently recognised its potential , according to BCG . In 2018 , Swiss luxury conglomerate Richemont SA , acquired Watchfinder , Ltd ., a pre-owned watch seller with a strong online presence . Audemars Piguet has launched a pre-owned watch business , and some established retailers are now selling pre-owned watches . At the end of 2022 , Rolex announced its own preowned watch authentication programme , which it operates cooperatively with authorised jewellers . In addition , thirdparty online platforms including WatchBox , Chrono24 , Watchfinder and Timepiece360 have promoted the market ’ s growth , especially among Gen Z and millennial buyers who are comfortable buying online , by helping educate buyers , encouraging price transparency , and bringing buyers and sellers together .