How Collected Is Aiming to Bring Fintech-Level Trust to the Wild West of Pre-Owned Watches
Collected is a new platform designed to enhance trust in the pre-owned watch market, which has historically lacked transparency and structure. Founded by Tim Bender and Zach Scott, the platform aims to provide safeguards for both dealers and consumers through features like contracts, community engagement, and automated services. Instead of operating as a traditional marketplace, Collected charges dealers a subscription fee to access essential services that facilitate transactions and improve buyer confidence. The platform also offers features such as a community board, user profiles, and a Vault for managing purchases, enabling collectors to track their watch histories and maintain privacy if desired. The innovation behind Collected lies in its commitment to standardizing practices within the secondary watch market, akin to fintech advancements in banking. By introducing elements like the Ledger, which records a watch’s provenance, Collected seeks to foster a culture of disclosure and transparency. This shift is crucial for expanding the market, as educating consumers and eliminating fears associated with secondary transactions can increase participation. With a focus on objective data and accountability, Collected is positioned to redefine the dynamics of buying and selling pre-owned watches, promoting a safer and more reliable marketplace.
