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Phillips educates jewelers on how to profit from pre-owned watches

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Geoffrey Hess, consultant for the watch division of Philipps.

Auctioneer Phillips is holding a seminar during Couture 2019 on the subject of how vintage watches can help retailers improve their bottom lines.

Thee educational session will be a discussion between Paul Boutros and Geoffrey Hess (pictured top) of Phillips Auction House, and leading style editor, photographer and author of the popular book, A Man and His Watch, Matt Hranek. The panel will serve to highlight important trends, tips, and strategies that retailers can be utilizing to enhance their businesses.

“Couture retailers offer the best in terms of contemporary jewelry and timepieces, but the pre-owned watch sector is a blossoming market that they may not be capitalizing on,” explains Paul Boutros, head of watches, Americas for Phillips.

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“The majority of the watches that Phillips offers have enduring value, but without in-house expertise, even the most knowledgeable retailers may not be able to utilize that information to properly value pre-owned timepieces. They may also be missing out on the opportunity to accept trade-ins which would allow a repeat customer to continually purchase new timepieces from a jeweler that they trust.”

Gannon Brousseau, Couture director and SVP of Emerald Expositions, adds: “The leader in vintage presenting itself to the leaders in contemporary jewelry and timepieces makes for a perfect synergy. We’re confident that our retailer partners will see the value in tapping into this profitable and growing sector of the market.”

While Mr Hess and Mr Boutros will speak specifically for the benefit of retailers, Mr Hranek will address the increased demand for vintage and pre-owned watches from the perspective of today’s fashion and style zeitgeist.

The vintage watch special takes place on Saturday, June 1 from 12:30pm to 1:30pm in Petrus 1, Wynn Resort.

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