The secondary market is surging in growth, but is there still room to grow?
The secondary watch market has experienced significant growth, impacting the primary market by revealing the true value of watches. While many timepieces depreciate immediately after purchase, the secondary market offers opportunities for buyers to find historical and vintage pieces that connect them to watchmaking heritage. Panelists from a discussion on the rise of the secondary market highlighted the educational benefits and the appeal of more attractive pricing, which have attracted a new generation of collectors. Despite its rapid expansion, the secondary market faces challenges related to authenticity and transparency. Experts emphasize the need for a standardized language among dealers regarding listing descriptors to enhance buyer confidence. The introduction of Certified Pre-Owned programs by brands like Rolex aims to provide more control and assurance in the market. As the sector continues to grow, there is an ongoing responsibility for auction houses and vendors to improve the experience for buyers, ensuring both education and transaction processes are refined.
