WatchBox says e-commerce has moved on

Cofounded in 2017 by Danny Govberg, owner of Philadelphia-based Govberg Jewelers - one of the world's premier authorised dealers of new and pre-owned timepieces -, Tay Liam Wee, who engineered Sincere Watch's listing on the Hong Kong and Singapore stock exchanges, and Justin Reis, an entrepreneur with vast experience in private equity investing in Asia, WatchBox has grown at a rapid rate and currently holds inventory worth $67 million In a recent Forbes article, Breitling CEO Georges Kern says a platform such as ours, which guarantees the provenance and authenticity of its watches, is the best way to fight the grey market, which accounts for 80% of online sales of luxury pre-owned watches The core of the app is the Watch Box, a digital safe that stores each customer's watch portfolio.

We already have 20,000 registered users who have entered watches with a market value of $500 million How much is the global luxury pre-owned watch market worth? Jon Cox, an analyst at Kepler Cheuvreux in Zurich, estimates that the pre-owned watch market is currently worth $5 billion a year, but I think it's more than that The pre-owned market could be bigger than the market for new watches. Source