The leader of the pre-owned giant has big plans for the future—and is eyeing some interesting new prospects.
What does WatchBox plan to do with its recent $165 million raised in funds?
Boston Consulting Group says it will happen by 2030, but based on current growth rate in the secondary market and the number of new collectors entering the watch market, I think it could happen in the next five to six years, in 2028. What’s happening is that you’ve got this fixed supply of new product coming into the market from the brands, and you’ve got an audience of customers that are ready to buy and there’s not enough product available to meet the demand.
We know what’s in our clients’ inventory, and we know what they might want. And if someone is looking for something they have, we can let them know about a possible opportunity to sell it. Right now about 35 percent of all sales on WatchBox involve a trade.
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