The second-hand market is turning increasingly professional with the proliferation of online sales sites that verify authenticity. Read more at straitstimes.com.
ZURICH - Swiss watches are in high demand these days, but sales of second-hand timepieces are also booming, driven by Generation Z buyers who want luxury goods but are also sustainability-minded.
The event was attended by the online auction giant eBay, the watch sales platform Watchbox, and Swiss brands such as Zenith.Ms Lupo said the craze for second-hand watches could be explained by the consumer choices of Millennials and Generation Z who are “very concerned about the future of the planet, and no longer want to buy new”.
Sales platforms for certified pre-owned watches are multiplying online, with the sector still attracting new entrants, including the US site Bezel, which counts former Disney president Michael Ovitz, comedian Kevin Hart and singer John Legend among its investors.The luxury giant Richemont – which owns the Cartier, IWC and Piaget brands – entered the field as early as 2018, buying the British platform Watchfinder.
“However, they realise there is a halo effect of having strong secondary prices, enhancing the brand value of the primary watches,” he said.
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