With each passing year, the luxury watch market continues to attain success in full throttle. Even so, the surging trend of the global pre-owned watch market making big figures is enticing enough for top watch brands to roll up their sleeves. Luxury watches symbolise tasteful choice and class, and consumer behaviour leans towards this opulent indulgence, leading to the pre-owned watch market becoming a big player. As though the demand for luxury timepieces continues to soar, the supply of new watches remains traditionally limited.
According to a new report by LuxeConsult, a Swiss-based industry analyst and consulting firm – the pre-owned watch market is estimated to rise to 79 billion euros by 2033. The sale value of pre-owned watches in 2022 grew by 20%, whereas it was only a 12% growth in sales of new luxury watches. Consequently, it is predicted that the pre-owned sector will possibly overtake the primary watch market by 2033. So, for anyone who has not jumped on the bandwagon yet, there is no better time than now.
An ever-evolving avatar of glitz and glamour, a depiction of unbridled inventiveness and relentless innovation, a BVLGARI Serpenti enthrals with its ceaseless mutations. The renowned Italian house was established in Rome in 1884 by the gifted Greek jeweller Sotirio Bulgari, who expeditiously earned a reputation for Italian ingenuity through fine craftsmanship and spectacular jewellery masterpieces. Sotirios Bulgari had a special affinity for snakes and was the designer of the BVLGARI Serpenti line. The watch was first introduced in the 1940s, with the celebrated Tubogas bracelet. It rose to fame in the 1960s thanks to Elizabeth Taylor, who donned it on the set of the movie Cleopatra.
Today's watch aficionados and collectors are coming to realise that watches can make excellent investments in addition to being items to wear and applaud. It is vital to select the timepieces that will greatly retain their worth to ensure the safety of your investment. Given the growing prevalence of luxury watch resale as a legitimate business model, it goes without saying that if you plan to sell your timepiece for a profit, you'll want to choose a model with a good chance of holding its value or even rising in value.
Panerai watches are a seamless fusion of Italian style, Swiss technology, and a fascination with the sea, as they were initially engineered for deep underwater use. Tradition and the sea world are the touchstones of Panerai's core DNA. Its timepieces commemorate a long historical connection with the Royal Italian Navy
Jaeger-LeCoultre is one of the world’s most renowned luxury watch brands. Antoine LeCoultre founded this watchmaking atelier in 1833, and it has been an owned subsidiary of luxury conglomerate Richemont since 2000.
In 1972, an era when watches were distinctly graded into two major categories — dress and sports — Audemars Piguet went against the grain and introduced a watch that converged both these two styles, giving rise to a stellar timepiece we know and love today, the Royal Oak. Decades after its introduction, it remains one of the most iconic and groundbreaking watches ever made.
The ecosystem created by the pre-owned market has successfully provided contentment to individuals who do not connect with the idea of forever and instead, prefer to explore new and exciting options. Moreover, knowing the timepiece that you have enjoyed and are ready to move on from is now with someone who really wants it brings an irreplaceable feeling of satisfaction and relief. It’s truly a win-win for all.
Buying a pre-owned timepiece is a lot more than just selecting the watch you like, which is quite daunting per se. A few more factors come into play to ensure you are getting a fair deal.