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The used watch market is growing steadily, with sales expected to reach $30 billion by 2023. This forecast is based on a growth rate of 5% annually over the next five years.
USED WATCHES MARKET TO GROW TO $30 BILLION BY 2023
You’re looking at an article that explores the USED WATCHES MARKET and how it is expanding. The market is currently worth $25 billion, but by 2023, it is expected to grow to $30 billion. This growth will be driven by a number of factors.
- The increasing popularity of online auctions for pre-owned watches
- An increase in demand from people trading in luxury watches
ONLINE AUCTIONS FOR PRE-OWNED WATCHES GAIN POPULARITY
Auctions for pre-owned watches are gaining popularity on online platforms like ours. While there’s nothing wrong with buying a watch at an auction, you should know that it can be a little more complicated than simply buying from an established brick-and-mortar store. If you’re looking to buy a watch online, here are some things to keep in mind:
- Look at the seller’s rating and reviews before making your purchase. This way you can see what other buyers have said about their experience purchasing from this seller’s store or dealership. Bezelbrothers secures each buyer by ensuring all our sellers pass verification with our trusted third party, TrustPilot.
- Do not pay for shipping unless it’s included in the price of your item, especially if it happens overnight or by next day delivery service! The only reason someone would pay extra is if they know there will be no repercussions if something goes wrong with their order (e.g., money lost due to broken package during transit).
MORE AND MORE PEOPLE ARE TRADING IN LUXURY WATCHES
The demand for luxury watches has increased over the past couple of years, with many consumers opting to trade in their old timepieces for something new. This is because more people are realising the value of these items, which is why they’re often sold on sites like eBay, Craigslist, and of course, Bezelbrothers.
However, there are some things you should know before you buy or sell a watch. Here are some tips from us on how to avoid scams and frauds when trading in your luxury timepiece:
- Make sure that the dealer that you’re dealing with has a good reputation; this will ensure that their business practices are above reproach so that you won’t run into any problems down the road
- If possible, find out what type of warranty comes with each watch model so that if anything goes wrong later down line then it’ll be covered without having extra fees tacked onto initial purchase price (which can happen sometimes).
All things considered, the pre-owned watch market is an interesting one. While some people may choose to keep their watches for a lifetime, others want to trade them in for something new. The fact that there are so many different options out there means that you can find what works best for your needs!