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Pre-owned Luxury Watches Market By Movement Type (Automatic, Manual, Quartz, Others); By Demography (Men, Women, Unisex); By Distribution Channel (Online Stores, Offline Stores); By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Market Analysis, Trends, Opportunity and Forecast, 2022-2032

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Pre-owned Luxury Watches Market Insights

The global pre-owned luxury watches market is expected to reach to a valuation of USD 32,013.8 million by the end of 2023. Moreover, the market is expected to grow at a compound annual growth rate (CAGR) of 11.5% during the forecast period i.e. 2023-2032. The market of pre-owned luxury watches is basically driven by a bundle of factors including rising brand awareness, strong affordability and growing affluent population. Over the years, consumers have generally grown to be more accepting of pre-owned luxury watches owing to factors such as environmental concerns, cost benefits and others. Online stores being pre-owned luxury item’s core distribution channels, the demand for preowned luxury watches is likely to spur in upcoming years as the online marketplace is gaining traction across the globe.


Pre-owned Luxury Watches Market


Growth Drivers & Barriers

Buying and owning pre-owned luxury watches is more of a common thing these days as consumers are hesitating to spend premium for watches. Also, there is also a very strong demand for vintage watches, scarce models, one-of-a-kind designs and watches with a special history. Stores that are offering pre-owned luxury watches are assuring their product’s authenticity and are offering these watches at great discounted price. Such cost benefits of purchasing pre-owned luxury watches are likely to boost the growth of this segment in upcoming years.

Advantages of second-hand luxury watch as compared to brand new luxury watch such as low price, easy sourcing such as buying from e-commerce websites are also believed to positively impact the growth of market. Various consumers prefer to buy products from online retailer of luxury goods owing to the convenience of shopping from home.

Across the globe, pre-owned luxury goods are becoming more acceptable among consumers. Previously, the secondary market was viewed as an unattractive niche. However, with the advent of pre-owned luxury goods e-retailers, the market image has boosted and is going mainstream. The second-hand market has always been aiding for consumers who could not afford primary luxury goods. Rising awareness about online stores and booming number of startups are further increasing the consumer base which is anticipated to boost the growth of the market.

Growing number of companies entering pre-owned luxury watch industry is anticipated to cater to the emerging need of consumers. In Middle East, United Arab Emirates, Dubai and other GCC countries are witnessing the augmenting demand for second hand luxury watches. In past years, various new companies have started operation at various level which further envisioned to boost the growth of market.


Barriers

Authenticity concerns among consumers is one of the major factors which is limiting the growth of global pre-owned luxury watches market. Moreover, various incidences and complaints of receiving counterfeit goods is also limiting the growth of market.

Product Average Price Analysis

Pricing used luxury watches is more complicated than the pricing a new luxury watch as the price of a pre-owned luxury watch depends on a number of factors. Though purchasing pre-owned watches can be great money-saving tools, but the value of luxury items doesn’t usually fall less than 30 to 40 percent from its original price in the secondary market. However, there were sometimes where discounts went up to 80 percent.

The pricing of a pre-owned luxury watch is based on a number of factors such as the original cost of the product, brand value, owner's demand, authenticity, product condition, and other factors. A pre-owned luxury watch can cost from hundreds of dollars to thousands of dollars, depending on its core values. The profit margin set by the reseller may vary according to country and time owing to their sales strategy.


Pre-owned Luxury Watches Market Regional Outlook

In the terms of geography, the pre-owned luxury watches market is analyzed into North America, Latin America, Asia Pacific, Europe and Middle East & Africa. Among these regions, Europe is slated to account for highest percentage of market share in overall market during the forecast period. Europe pre-owned luxury watches market is anticipated to reach USD 13,825.2 million by the end of 2032, registering a compound annual growth rate (CAGR) of 10.7% between 2023 and 2032.


Pre-owned Luxury Watches Market Segmentation

The research offers a comprehensive analysis of pre-owned luxury watches market with respect to following sub-markets:

By Movement Type

- Automatic

- Manual

- Quartz

- Others

By Demography

- Men

- Women

- Unisex

 By Distribution Channel

- Online Stores

- Offline Stores

By Geography

- North America (U.S. & Canada)

- Europe (Germany, United Kingdom, France, Italy, Spain, Russia and Rest of Europe)

- Asia Pacific (China, India, Japan, South Korea, Indonesia, Taiwan, Australia, New Zealand and Rest of Asia Pacific)

- Latin America (Brazil, Mexico, Argentina and Rest of Latin America)

- Middle East & Africa (GCC, North Africa, South Africa and Rest of Middle East & Africa)


Competitive Landscape

The report profiles various major market players such as

- The RealReal, Inc.

- The Luxury Closet

- Vestiaire Collective

- Fashion Phile

- Tradesy

- LXRandCo

- Style Tribute

- REBELLE

- Collector square

- Chrono24 GmbH

- Other Prominent Players

Competitive landscape analysis provides detailed strategic analysis of the company’s business and performance such as financial information, revenue breakup by segment and by geography, SWOT Analysis, risk analysis, key facts, company overview, business strategy, key product offerings, marketing and distribution strategies, new product development, recent news (acquisition, expansion, technology development, research & development expansion and other market activities.

The study also provides company’s positioning and market share in pre-owned luxury watches market.

Timeline Considered for Analysis:

- 2023: Base Year

- 2023: Estimated Year

- 2023 to 2032: Forecasted Period

Research Scope and Deliverables

Overview & Executive Summary

Market Drivers, Trends, Challenges and Opportunities

Market Size and Forecast Projections

Macroeconomic Indicators of Various Countries Impacting the Growth of the Market

Extensive Coverage of Industry Players including Recent Product Launches and Market Activities

Porter’s Five Force Analysis

Market Segmentation Analysis:

Industry report analyzes the global market by the following segments:

- Movement Type

- Demography

- Distribution Channels

Geographic Market Analysis:

The report offers separate analysis of North America, Europe, Asia Pacific, Latin America and Middle East & Africa. In addition, further breakdown of market data and analysis of region into countries is covered in the report.

Customization: We also offers customization’s in the industry report as per the company’s specific needs.

Attribute

Description

Market Name

Pre-owned Luxury Watches Market

Forecast Period

2023-2032

Market Valuation

USD 32,013.8 million by the end of 2023

CAGR

11.5% (2023-2032)

Growth Drivers

- Consumer preference for pre-owned luxury watches - Strong demand for vintage and unique watches - Assurance of authenticity by sellers - Cost benefits of purchasing pre-owned luxury watches - Online retail convenience - Increasing acceptance of pre-owned luxury goods

Barriers

- Authenticity concerns - Incidences of counterfeit goods

Regional Outlook

Europe expected to have the highest market share

Europe Market Valuation

USD 13,825.2 million by the end of 2032

Europe CAGR

10.7% (2023-2032)

Segmentation

By Movement Type: Automatic, Manual, Quartz, Others By Demography: Men, Women, Unisex By Distribution Channel: Online Stores, Offline Stores By Geography: North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Key Players

- The RealReal, Inc. - The Luxury Closet - Vestiaire Collective - Fashion Phile - Tradesy - LXRandCo - Style Tribute - REBELLE - Collector square - Chrono24 GmbH - Other Prominent Players

Competitive Landscape Analysis

SWOT analysis, financial information, business strategy, key product offerings, market share, recent news

Research Timeline

Base Year: 2023 Estimated Year: 2023 Forecasted Period: 2023-2032

Scope and Deliverables

Market overview, drivers, trends, challenges, opportunities, forecast projections, geographic analysis, segmentation analysis, Porter’s Five Force analysis, customization options


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Booklet
  • Publication date: 9th January 2024
  • Base year: 2022
  • Forecast year: 2023-2033
  • Format: PDF, PPT,Word,Excel

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FAQ

The global pre-owned luxury watches market is expected to reach to a valuation of USD 32,013.8 million by the end of 2023.

The market is expected to grow at a compound annual growth rate (CAGR) of 11.5% during the forecast period i.e. 2023-2032.

Europe is likely to have high demand for product in the upcoming years?

In addition to the lower price, pre-owned luxury watches can offer a variety of benefits. These watches may have a unique history or backstory, and can provide a sense of exclusivity and status. Additionally, buying a pre-owned watch is a more sustainable option than buying a new one, as it reduces the demand for new materials and production processes.

The pre-owned luxury watch market faces several challenges, including counterfeit watches, lack of price transparency, trust issues, maintenance costs, and warranty and service concerns. It's important to be aware of these challenges and to do your research before buying a pre-owned luxury watch.

The global pre-owned luxury watches market is driven by the increasing interest in vintage and limited-edition watches.

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