Watchbox is investing $30 million in buying Rolex watches that can be restored to mint condition and will set an industry standard of quality for pre-owned pieces from the brand.
Bain & Company report says 80% of pre-owned luxury goods sold world-wide are watches and jewelry.
Global pre-owned platform sees total transactions increase by 30% in 2018 according to its chief executive.
London is the most likely location for an authentication center that will check all watches on the way from sellers to buyers.
Watchfinder was virtually unknown in the United States until Richemont bought the company in June last year for an undisclosed sum. Since the acquisition, the company's directors have declined interviews with WatchPro, although a director did say informally that the plan was to "go global".
Ebay says its sales of luxury watches are already worth more than $1 billion, making it the biggest secondary market player, and a new authentication service aims to address the platform’s Achilles heel, a lack of trust in the authenticity and provenance of thousands of watches listed for sale.
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.
Customers agreeing to sell their watches can take an offer in cash or London Jewelers store credit with a 20% bonus on top.
The auctions kick-off today with a GMT Master Batman timepiece with a starting bid price of $5000.