new watch buyers

When is the Best Time for Selling a Luxury Or Swiss Watch?

Selling a luxury watch privately is time-consuming and involves haggling with buyers, shipping the watches, and handling potential disputes and scams. By contrast, trading in a watch with a reputable pre-owned retailer is a fast and seamless process.

Whether you’re looking for financial gain or a new addition to your collection, it’s important to reflect on your goals before selling your watch.

1. The End of the Year

Watches are luxury goods that have been used as status symbols since the dawn of time. They are coveted by those with the disposable income to purchase and wear them, as well as those who recognize their investment value. In recent years, millennials and Generation Z have developed an appetite for them. This is partly due to the fact that these consumers have been born into a socialized world where non-verbal communication cues are increasingly important. Whether it’s the handshake of a business partner or a thumbs-up on Instagram, the right wristwatch can convey a sense of confidence and power.

As the demand for these watches has risen, so too have prices on the secondhand market. But as we head into the end of 2022, there is a concern that prices could start to decrease as the supply starts to catch up. This is partially due to the fact that these prestigious Swiss brands refrain from manufacturing larger volumes of their more expensive models. Rolex produces under a million watches a year, and Patek Philippe makes even fewer. As a result, new watch buyers must be patient as they wait for a model to become available.

Another factor is that many of the more affordable Swiss watches are seeing a decline in sales. This is largely due to Apple’s digital smart watches, which are capable of much more than simply telling the time. Lesser-priced Swiss watches are also struggling as the global economy continues to sputter. Exports of watches that cost less than $200 have fallen significantly.

While these trends are cause for concern, it’s important to remember that the resale market is still very healthy. The demand for secondhand luxury watches is still very high, and there are plenty of people willing to buy them. There are also a number of new buyers, including millennials and Gen Z, who are discovering the joy of owning and wearing a luxurious watch.

In addition, some of the most renowned Swiss watch companies are strengthening their partnerships with online marketplaces. This is a great way to reach an entirely new audience of potential customers, and it can help ensure that the pre-owned luxury watch market continues to thrive.

2. The Summer

A luxury watch is more than just a timepiece, it’s also a status symbol and an alternative investment. With that in mind, it’s no surprise that the secondhand market is booming for Swiss brands like Rolex and Audemars Piguet. With post-pandemic horological euphoria, rarity, exclusivity and celebrity influence all at play, it’s not uncommon for buyers to pay record prices for preowned pieces from the best brands in the industry.

The demand for these watches has been so strong that some brands have even gone overboard and started producing more than they could sell. The result is a glut of watches that can’t find homes at the boutiques lining Rodeo Drive and Bahnhofstrasse, instead ending up on gray market sites online where they can be bought at a fraction of the official price.

This glut has led to a slowdown in sales, especially in China where the government’s anti-corruption crackdown and economic woes have cut into gift-giving. The soaring Swiss franc and oil prices have also taken their toll. But that hasn’t stopped buyers, who are still clamoring for hard-to-find models from the most desirable brands. This is especially true for secondhand and vintage watches, where the supply is limited but resale value remains high.

Unlike most items, which drop in value once they leave the shop, premium watches build value over time. This is especially true for vintage pieces from coveted brands that have become more sought-after than ever due to their unique design and craftsmanship. But it’s not just vintage that’s thriving in the secondary market, newer models are too. In fact, the most recent data from Bezel, a 2-year-old secondhand seller that specializes in luxury watches, shows that sales are up 75% month-over-month with 60% of its buyers being Gen Z and Gen Y.

These trends are encouraging for the industry, and some have begun to adapt by taking their products on the road. For example, Cartier, a company that regularly unveils timepieces with price tags equal to the cost of a Hamptons summer rental, is now offering lower-priced watches as part of its women’s collection. This is just one of many ways that Swiss watchmakers are reaching out to new audiences, including millennials and female buyers, and making it easier than ever to get into the market for an elite timepiece.

3. The Winter

As winter draws near, luxury watches can be a great buy for those looking to purchase a quality timepiece at a lower price. Many watch brands release their new lines during this season. As a result, demand is higher for these models. This can lead to higher sales, and a better chance of reselling your watch in the future.

However, for those not looking to spend a fortune on a timepiece, the secondhand market is a solid option. Aside from offering a more affordable way to acquire a high-end timepiece, this market is a valuable source of insight into the preferences and demands of new buyers. This information can be used to create better marketing campaigns that appeal to these consumers.

With the growing popularity of alternative investments, luxury watches have been drawing increased interest from investors. This is because they tend to perform well in the long term, and provide a secure return on investment. As a result, the market for luxury watches is expected to continue to grow in the future.

This is because of the increase in the number of wealthy individuals, who are willing to invest in these types of products. In addition, the popularity of these products has been increasing amongst millennials and Generation Z consumers. As a result, the market for Swiss watches is set to grow significantly in the coming years.

As a result, it is important for luxury watch manufacturers to take advantage of this opportunity by investing in secondhand markets and developing strategies that can be used to attract these new buyers. For example, they can use these strategies to engage with new customers and educate them about the value of their products.

For example, they can also focus on promoting their brand image through social media. In addition, they can also provide customers with a variety of services such as repair and maintenance to keep them satisfied with their products. This will help to ensure that they can maintain a good reputation and increase their customer base. Furthermore, they can also offer a trade-in program for used products to attract new customers.

4. The Spring

As the weather begins to warm, resale prices for luxury watches also tend to increase, particularly for hard-to-find models that are still in demand and have limited supply. As a result, if you’re looking to sell a new watch, spring is the best time to do so.

The watch industry is having a bit of a golden moment. Exports hit an all-time high in 2022, and new buyers have been emerging from the world over for several years now, led by Hong Kong and other luxury markets in Asia. Even in the United States, sales have risen.

However, there’s a caveat to all this that shouldn’t be overlooked. As the industry has expanded, many new buyers are interested in vintage or secondhand watches. This can be a good thing, especially since resale values often increase as the watch ages.

In fact, the most valuable watches are those from older brands that were built for a different kind of buyer. These are the luxury watches that have a reputation for craftsmanship, design and function, and have been around for centuries. They’re known for their quality and longevity, which appeals to many young luxury buyers.

Other luxury watch makers have struggled to catch up. The artisanal process involved in their production makes it difficult for them to ramp up production quickly. Plus, it’s not like the Swiss can just turn to crypto or something else to fuel a sudden surge in demand.

What’s happening now is that younger customers and women are buying more Swiss watches. They’re inspired by the brand history and craftsmanship, but they’re also being drawn in by their investment potential. According to a report from Boston Consulting Group, watch brands have performed well as alternative investments over the past few years.

The good news is that these factors are likely to continue to drive growth for the Swiss watch industry, and in turn drive resale value of the iconic watches it produces. After all, this is an industry that’s been honed over generations by master craftsmen who took great pride in their work and knew that the smallest of details could make a big difference.