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.
The company is hoping the scheme will allow customers to realise a broader range of options for their timepieces.
Hing Wa Lee Jewelers, an authorized dealer in Los Angeles for Rolex and more than 25 other premium watch brands, will sell Watchbox stock and feed trade-ins to its workshops.
No matter what warranties and certification watch brands offer, it will be consumers that set the price of pre-owned product, insists Danny Govberg.
The situation today is confusing for customers, and no easier for jewelers looking to participate in the growing secondary market.
Chronofy helps jewelers, dealers and pawnbrokers to instantly work out prices for trade-in timepieces and mark them up for resale.
James Hendy, eBay's head of authentication, describes how he plans to build trust in the platform's luxury watch category.
Chrono24, Watchbox and Chronext could be in the cross hairs for watch brands looking to seize control of grey and pre-owned watch channels.
Amazon employees allegedly used eBay’s messaging service to contact third party sellers.
Following the success of its US and Hong Kong divisions, the global e-commerce platform is hoping to use the Swiss branch to heighten its global commitment.