Luxury watch market surges as younger buyers join waitlist
The demand for luxury watches, particularly among younger consumers, is driving growth in the secondhand market. With waitlists for new watches ranging from months to years, consumers are turning to secondhand shops to immediately purchase the timepieces they desire. However, the secondhand market comes at a higher price, with some watches being thousands of dollars more expensive than their brand-new counterparts. Despite the higher cost, buyers are attracted to the investment potential of luxury watches, as they have outperformed traditional investments and demonstrated resilience during economic downturns. The market for luxury watches is also gaining credibility, with increased transparency and accountability through authentication services and the rise of information in the digital era. Social media platforms like TikTok are also playing a role in attracting younger buyers to the secondhand market.
