ZURICH: Swiss watches are in high demand these days, but sales of second-hand timepieces are also booming, driven by Generation Z buyers who want luxury goods but are also sustainability-minded. Read more:
ZURICH: Swiss watches are in high demand these days, but sales of second-hand timepieces are also booming, driven by Generation Z buyers who want luxury goods but are also sustainability-minded.The global second-hand watch market is estimated at nearly 20 billion Swiss francs and could reach 35 billion francs by 2030, according to a study out in October by the auditing and consulting giant Deloitte.
The average price fell from a record 45,000 Swiss francs in February 2022 to 35,000 francs in September, which Deloitte called a 'correction' rather than a sign that the market was shrinking.Sales platforms for certified pre-owned watches are multiplying online, with the sector still attracting new entrants, including the US site Bezel, which counts former Disney president Michael Ovitz, comedian Kevin Hart and singer John Legend among its investors.
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