Pre-owned Rolex specialist Bob’s Watches says it sold goods worth almost $1 million on Cyber Monday, a holiday season spike that puts the business on course for sales of over $40 million in 2018.
“Black Friday and Cyber Monday sales were double over last year. Cyber money sales alone were just under $1 million,” reveals aul Altieri, chief executive of Bob’s Watches.
The company recently re-located its headquarters from Huntington Beach to a larger and more modern facility in Newport Beach, California, in an effort to cope with rising demand.
“Sales are up over 33% this year as global demand for our certified pre-owned Rolex watches continues to climb,” Mr Altieri tells WatchPro.
The business is benefiting from a global drought of the most desirable Rolex sports models, which customers are unlikely to find in stores, and cannot buy new online because Rolex does not permit e-commerce with its authorized dealers.
Frustrated at the lack of availability from ADs, customers are increasingly finding the watches they want on the secondary market, and are prepared to pay above retail prices to secure them.
“More and more customers want the convenience of shopping online,” suggests Mr Altieri. “I don’t have the final numbers yet, but total revenue should exceed $42 million this year,” he adds.
This week, Bob’s Watches is holding an online auction for 12 desirable Rolex sports watches in a 12 Days of Christmas promotion.