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Baselworld’s Impact Felt in the Secondary Watch Market

Baselworld is going through significant challenges, but one key aspect of the fair remains unchanged­ — brands that choose to exhibit, buttressed by industry behemoths Rolex and Patek Philippe, use it as a vehicle to unveil their latest product offerings and new tricked-out assortments. Once an event solely for retailers to place a year’s worth of orders, now in the age of social media and e-commerce where six-figure watch sales have become normalized, the Swiss fair has also become a valuable marketing and public relations tool, and its messaging reverberates in the watch category’s secondary market, where both start-ups and brick-and-mortar retailers vie for a share of the burgeoning pre-owned and vintage watch category.
“If you were to tell me four years ago that the brands would be having conversations about the pre-owned market, I’d have said you were crazy,” said Hamilton Powell, chief executive officer and founder of the Atlanta-based watch e-tailer Crown & Caliber. “It used to be that the attitude about the pre-owned market was that it wasn’t luxury.”
Powell said a major turning point was Compagnie Financière Richemont’s purchase of Watchfinder.co.uk Ltd. “That was a major fissure,” he said. “Now the brands are beginning to have a real

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Via:: https://wwd.com/accessories-news/watches/baselworlds-impact-felt-in-secondary-watch-market-1203086570/