Pre-Owned is the next big thing...

Aquagraph
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https://monochrome-watches.com/second-hand-can-no-longer-be-ignored-by-watch-brands/

I wonder how TAG Heuer will approach this... the article makes out that the brands controlling the second hand market pushes up the value retention, which may be true to an extent, but I don't suppose the buying prices will be any better than Watchfinder will offer so you'll still have to SELL privately to get a good price. I also think TAG would struggle here as their second hand 'approved' prices are likely to be higher than their outlet prices!
 
Jim Dollares
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Aquagraph Aquagraph
also think TAG would struggle here as their second hand 'approved' prices are likely to be higher than their outlet prices!
But that could never work could it? Maybe it could if certified pre-owned was available online. Outlets are only available on site for anlicky few who live near by

Edit: why did my retarded iphone change "a lucky" to anlicky. Is anlicky even a word? Sounds nasty, should not google it I suppose
 
Hubert
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I think this could be an opportunity for this community.
 
El Matarife
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Jim Dollares Jim Dollares
But that could never work could it? Maybe it could if certified pre-owned was available online. Outlets are only available on site for anlicky few who live near by

Edit: why did my retarded iphone change "a lucky" to anlicky. Is anlicky even a word? Sounds nasty, should not google it I suppose
Apple is totally anlicky. So is Google these days.

I quite like the idea of TAG certified pre-owned. Watches that have been refurbed and resold with the equivalent of a service warranty. Plenty of times I've stopped looking at a second hand watch on Ebay, as regardless of how shiny it looks outside I've no idea of how broken it might be inside. And you would know it was 100% Kosher, not fake and with no shonky replacement parts. Peace of mind can be worth paying for for some folks.
 
Jim Dollares
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El Matarife El Matarife
Apple is totally anlicky. So is Google these days.

I quite like the idea of TAG certified pre-owned. Watches that have been refurbed and resold with the equivalent of a service warranty. Plenty of times I've stopped looking at a second hand watch on Ebay, as regardless of how shiny it looks outside I've no idea of how broken it might be inside. And you would know it was 100% Kosher, not fake and with no shonky replacement parts. Peace of mind can be worth paying for for some folks.
Yes agree! As long as the prices dont become too insane. But yes definitely worth paying a premium for the comfort and security
 
El Matarife
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Aquagraph Aquagraph
Yes, but can we trust TH to verify their own watches?
That is THE question 😀 Boutique salespeople probably not, service center employees hopefully yes...?
 
Jim Dollares
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As long as they dont launch certified pre-owned Aquaracers we should be fine 😁
 
THJunkie
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I’m sure it is inevitable, but I’m guessing it’ll be a while before the phenomenon trickles down the the TH price point of the market. More or less everything cited in that article or illustrated was at the higher end of the market. The certification process and logistics is going to cost a fair bit ti administer I expect. Far easier to absorb that in a £10k plus segment than with a sub £1000 model.

Undoubtedly it would bring piece of mind to a transaction, but I can’t help but feel that ultimately this security blanket would come at the price of ultimately driving up costs across the board if there was widespread vertical integration and fewer ‘players’.
 
OttoWilliam
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Is it the pre-owned market that drive the value retention of a brand

OR

the limited supply availability in comparison to overload demand ?
 
Jim Dollares
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OttoWilliam OttoWilliam
Is it the pre-owned market that drive the value retention of a brand

OR

the limited supply availability in comparison to overload demand ?
A combination of both would be my guess. I have no data on it but I am guessing that if more and more places like Watchbox and Watchfinder get popular, the asking prices on the used market in general will be driven up. If a private seller sees that the watch is sold at a higher price in these places the private seller might get tempted to increase his price. Buyers seeing higher prices all over the place slowly having a psychological effect that "this watch is worth more than I thought" and eventually becoming willing to pay more. Of course it doesnt happen over night, its something that happens in steps over a period of time.
 
THJunkie
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I agree with @Jim Dollares. Both elements are factors - but also that one fuels the other. So supply constraint for an in demand piece will drive the secondary market way above MSRP if demand far outstrips demand. Then the ‘investment fever’ kicks in and like any bubble/boom things get out if control. Much older pieces that suddenly come in vogue will have a different and delayed curve sometimes fuelled by a related new release.
 
Aquagraph
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I think TH Junkie is right about the price band, but having said that Watchfinder sell watches that start at £500 or so (Kiriums, old 2000s, etc), I guess it depends on what is expected. I get the impression that at that end of the market WF just open the back and give it a look over and not much more than that, but if they were to service it then that £600 Kirium would suddenly cost £800 and then it's getting too expensive vs new pieces.
I would imagine TAG Heuer would do this but only on automatics, and probably only on Heuer 01s, 02s, Calibre 16,17,18, 36s etc..
 
Pitfitter446
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If trade in offers at ADs we’re realistic perhaps they could create there own market but offer peanuts on a watch you just know that they will mark up 500%( in my experience anyway), they might also get more folk interested in buying if they could buy second hand with confidence of authenticity.
 
Aquagraph
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Yes, trade-in value is where this whole idea falls down... I would estimate you would get 35% of new value if you traded a TAG in with Watchfinder, whereas selling privately you might get 60%ish...?
 
kappa_md
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I’ve bought in some of the known 2nd hand online market WatchFinder, Watchbox & Crown&Caliber. Some in certain ADs abroad. Pre-owned / Pre-loved. No issues so far. Expect to pay a premium for hard to find models. Probably the COVID pandemic has accelerated this trend with most people buying stuff online. (e.g. Amazon sales skyrocketing!)

I really don’t mind pre-owned since I wear my watches in rotation anyway. No use letting them stay inside the box for long periods of time 😉
 
abrod520
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Also, it means that when you want to buy a new watch, you could trade in your old one - for most people who aren't plugged into forums and the secondary market, this could increase new sales as well. (Think like cars)
 
Aquagraph
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That's true, say they release that 'limited edition' but you just don't have the cash right now you could chop in that old Aquaracer you never wear and away you go!
 
kappa_md
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It will really depend on the model. As mentioned by Time and Tide. Not all Rolex will have a good pre-owned value. Depending on specific models, particulary with a good “cult” following. The stories associated with these pieces add “value” to the watch itself. Click me 😜
 
OttoWilliam
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Agree. Not all Patek or Audemars Piguet as well. Therefore i think good pre-owned value is overrated. Better buy what you love.

Just my opinion. 👍
 
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