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Larry Birnbaum, CEO of New Jersey-based Shopworn.com, buys unsold watches direct from brands or their authorized dealers and sells them online at sizeable discounts.
Browsing for watches on the secondary market has spiked during lock down, but dealers are being offered much lower prices.
John Pietrasz, co-founder of Delray Watch and Vault 303 says when quarantines began in the United States, conversion rates grew considerably.
Founder Darryl Randall says there is virtually no activity around the world on the buy side or sell side.
Vault 303 aims to bring the curation of a high end boutique to the watches it buys and sells by concentrating on modern watches priced at $20,000 and over or vintage pieces selling for upwards of $10,000.
Chrono24's Big Data gives us a crystal ball to see how Coronavirus affects the behavior of consumers and dealers.
The secondary market for luxury watches is estimated to be worth anything from $5 billion to $15 billion per year.
Germany-based Chronext says it has secured a path to profitability with the additional venture capital cash injection.
Brand president Thierry Stern says he will act if retail partners are caught selling watches to known secondary market traders.
The older you get, the more your treasures are likely to be worth on the secondary market, research discovers.