The thing I liked about this Inside Retail article was that is shows that niche retail is still going strong. Then I saw that figure of "$400 billion global pre-owned watch market" and I'm thinking it might not be so niche (or it might be a typo...!). I guess luxury watches are probably not that different to collectors than classic cars or antiques, half the fun is in the hunt. In any event, the joy about niche players is that they are can be focussed and close to their customers. And more often than not they are dealing with a "passion product." All sounds like fun to me.
WatchBox has launched as the first global e-commerce platform specialising in buying, selling and trading pre-owned luxury watches. “WatchBox capitalises on the estimated $400 billion global pre-owned watch market by embracing advanced technology to offer consumers a scalable platform to buy, sell and trade pre-owned timepieces through a trusted partner,” says Watchbox partner and former Sincere Watch owner Liam Wee Tay . Evolving from the business practices of 101-year-old watch retailer Govberg Jewelers, WatchBox has already established a profitable business model for pre-owned watches in the US, with the founders realising the need for a physical location also in Hong Kong “The watch industry is going through a period of consolidation, and the timing is right to build a robust and trusted global trading platform in the pre-owned category,” says partner and investor-entrepreneur Justin Reis.