Rebag has become the latest specialist in pre-owned luxury handbags and accessories to make a move into premium watch trading.
The business, which was launched in 2014, is best known for buying and selling the world’s most desirable handbags, and believes watches and fine jewelry are a natural extension.
“After successfully expanding into accessories earlier this year, our entry into the watches and fine jewelry category is the natural next step for us,” says Charles Gorra, CEO and founder of Rebag. “Rebag is the expert and ultimate destination for all luxury goods. We’re excited to offer our customers a new category of items to invest in.”
From today, Rebag says it will be accepting and selling products from Rolex, Cartier, Patek Philippe, Hublot, Van Cleef & Arpels, Tiffany & Co., and more.
Rebag will purchase the watches it intends to resell, although Mr Gorra was unclear on the extent to which watches will be checked, authenticated, repaired or serviced before going back on sale. Asked by WatchPro whether the aim would be to restore watches to mint condition, as WatchBox and Watchfinder do, he replied: “At launch, we will start purchasing watches for all designers that were previously on our accepted list. We also specifically extended the list to include the main luxury watches brands like Rolex, Cartier, Patek Phillipe, Hublot, IWC. When it comes to condition, just like in handbags, we are very rigorous with the type of items we can purchase. While we do accept a range of conditions, we encourage sellers to review our detailed guidelines.”
If watches are on Rebag’s list of acceptable watches, customers can expect to receive an offer in less than 60 minutes and payment within 5 business days upon completion of the vetting process.
Rebag also says it will help educate customers about fine watches through its knowledge center called The Vault.
“The Vault will now cover Watches and Fine Jewelry by diving into designer histories, analyzing specific styles and models, demonstrating how-tos for styling, and providing tips on product maintenance and care,” the company promises.
Although predominately a digital operation, Rebag began opening physical stores in 2017 and now has six sites in New York, Miami, and Los Angeles. Customers in these cities will be able to have their watches inspected in person and receive an offer within an hour. Payment would be released within a week after a full verification of the watch.