Trade In a Luxury Watch Like a BMW: It’s a Booming Business

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Artman
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Trade In a Luxury Watch Like a BMW: It’s a Booming Business

Post by Artman » Tue May 29, 2018 6:51 pm

By Stephanie Hoi-Nga Wong, http://www.bloomberg.com

Having seen the resale business for timepieces explode in the past few years, watchmakers are getting in on the game.

Luxury watch seller Danny Govberg is very busy these days with his Philadelphia-based company, even when he’s selling fewer new timepieces than he used to.

That’s because his 102-year-old emporium, Govberg Jewelers, is seeing an explosion in the secondhand market, where the wealthy owners of expensive wristwatches such as Patek Philippe and Rolex are increasingly trading their used ones for a different (but not necessarily brand-new) style. It’s one of the biggest changes Govberg has seen in the industry’s market landscape in the past two decades.

https://www.bloomberg.com/news/articles ... g-business
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