Today we unveil Volume 1 of a series of quarterly special reports into the luxury watch auction market.
These independent reports are published in partnership with eBay, one of the world’s largest luxury watch auction platform, but cover the entire industry from locally-owned independent auctioneers up to the biggest and most venerable operators like Phillips, Sotheby’s, Christies, Aquascutum and Bonhams.
In Volume 1 of the eBay & WatchPro Auction Report we report on how the global pre-owned luxury watch market is estimated to be worth $18.6 billion per year by Boston Consulting Group, and how traditional and digital auctioneers and trading platforms fit into that picture.
We hear from Daryn Schnipper, worldwide chairman of Sotheby’s international watch division about how comfortable collectors have begun buying historic vintage watches online while Alexandre Ghotbi, head of watches for Europe, Middle East and Africa at Phillips, has advice on how to make sure customers are not ripped off by fraudsters and fakers when bidding at online auctions.
eBay’s general manager of luxury, Tirath Kamdar shares fascinating insights about its new Authenticity Guarantee, a service means that every watch $2000 or more sold in the United States will be physically checked by a third party watch expert to ensure it is not fake.
eBay also reveals data on the most expensive watches sold on its platform in the past year, and the most popular brands of all time.