Pre-owned luxury watch market
The market for pre-owned luxury watches could reach CHF 35 billion by 2030, up from CHF 20 billion today, Deloitte projected.
This represents a 75% increase, according to its survey of watch brand executives and consumers.
This is also a wake-up call for luxury watchmakers, as sales in physical stores have seen a decline.
US Global Investors Funds refers that this is one of the reasons why well-known brands such as Richemont bought Watchfinder & Co. as its aftermarket sales channel.
Luxury watches are analog quartz or mechanical watches. These watches are usually made of stainless steel, ceramic, 14-karat or 18-karat gold, or a combination of gold and stainless steel, and are sometimes set with precious gems.
Luxury watches
These products are manufactured primarily in Switzerland.
In addition to most of the company’s Ebel and Concord watches, well-known luxury watch brands include Baume & Mercier, Breitling, Cartier, Omega and TAG Heuer.
Most affordable luxury watches are analog quartz watches, which sometimes include connected technology to transmit data wirelessly between the watch and a smartphone or other device.
These watches are typically made of stainless steel, ceramic, gold-plated or a combination of gold-plated and stainless steel.
Affordable luxury watches are primarily manufactured in Switzerland, although some are made in Asia. In addition to most of the company’s Movado watches, well-known brands of affordable luxury watches include Gucci, Rado, Michele and Raymond Weil.
