How you can buy, trade and sell your watch collection securely
Twenty years ago you might have picked up a second-hand watch at an antiques fair. Doing so might have been considered quite an alternative choice. But now, all that has changed and the 'pre-owned' watch market has become a booming industry worth upwards of $17 billion - largely thanks to companies such as WatchBox.
WatchBox is the world's leading platform for buying, selling and trading pre-owned luxury watches. It has built its global reputation due to its position as a trusted e-commerce platform that owns and trades its own inventory of some 4,000 watches pieces worldwide.
The company actively purchases watches from individuals, private collections, estates, and dealers worldwide, all of which are then evaluated, authenticated, and brought to “mint” condition without compromising value, before entering a curated inventory of pre-owned watches for sale.
"People are waking up to the fact that you can buy a great watch that’s just a few years old for half the price of the equivalent watch new. Who wouldn’t want to take that kind of offer?” Danny Govberg, co-founder of WatchBox, tells Esquire.
Yet it’s not just the savings that are likely to draw buyers to pre-owned watches. There are few objects of desire for which it can be argued it’s better to have used than new - some but not many cars; unusual but very few items of clothing; certain pieces of furniture, each with an attendant cachet. But watches? It seems that the greater the length of time a watch has recorded, the greater its desirability.
“If you have a car and want a different one, nobody gives a second thought about selling it," says Govberg. "It's should be the same with watches. If a customer has a watch they don’t wear anymore, and they want to trade it for one they like more, or there’s a certain style of watch they want which they can’t get new anymore, then we offer that service."
That 'service' is what sets WatchBox apart. In order to allay any concerns a customer may have over the pieces on offer, WatchBox owns its all of its own inventory. That means they evaluate, authenticate and buy timepieces from people interested in selling, and then after being serviced to bring them back up to manufacturer operating standards, are put back on the pre-owned market.
This system makes them not only one of the largest buyers of pre-owned watches worldwide, but gives them the ability, insight and transparency to accurately gauge the demand and price of particular models and pieces - effectively a global Stock Exchange for watches. At at any one time, WatchBox's 200 associates will be reviewing an ever-changing selection of thousands of timepieces.
Headquartered in the US, and with offices in Hong Kong, Singapore, Switzerland and South Africa - last year's opening in Dubai (which included a physical store in DIFC) has hugely benefited watch collectors in the UAE region, particularily thanks to its standard two-year global warranty backing every pre-owned watch sold, and more specifically, its unique UAE-only installment plan with Emirates NBD that guarantees 0% interest for upto 12 months.
Due to WatchBox's relationship with Ahmed Seddiqi & Sons, Dubai-based customers are able to purchase pre-owned watches from WatchBox’s global inventory, sell pre-owned watches directly to WatchBox, and initiate trades for a new or a pre-owned timepiece.
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