Member-only story
Luxury Watch Shortage Drives Growth Of $20 Billion Secondhand Market
A. Interest for top-of-line watches has flooded since the Covid-19 pandemic.
B. The blast in web-based watch purchasing is lifting the fortunes of a developing number of new companies, all expecting to turn into the predominant computerized commercial center for used watches.
C. New companies in the space have been fund-raising or playing with the chance of an Initial public offering.
A surge of organizations is competing to turn into the eBay of very good quality horology — including the celebrated internet-based commercial center itself.
Interest for a top of line watches detonated during the Covid-19 pandemic. In any case, the Large Four watch brands — Rolex, Patek Philippe, Audemars Piguet, and Richard Mille — are holding firm on the confined creation runs that make their watches so uncommon.
The outcome is a web-based blast occupied with purchasing, selling, and flipping used and vintage watches and a developing number of new businesses contending to turn into the predominant computerized commercial center.
McKinsey gauges that used watch deals hit $18 billion every 2019 and could top $30 billion by 2025. Used watch deals will be about a large portion of the size of the market for new, retail…
