Pre-Owned Luxury Watches Market
Pre-Owned Luxury Watches Market Trend, Opportunity, and Forecast Analysis, 2024-2032
Pre-Owned Luxury Watches Market is segmented by Type, Distribution Channel, and by Region. KDMI analyst foresees market revenue to cross USD 53.96 Billion by 2032 by growing with a CAGR of 9.5% during 2024-2032.
Pre-Owned Luxury Watches Market Highlights
The global pre-owned luxury watches market is expected to cross a value of USD 53.96 billion by the end of 2032. The market was valued at USD 25.7 billion in 2023 and is expected to expand at a CAGR of 9.5% between 2024-2032.
- Over the mid-term, the growing preferences of consumers to purchase high-quality timepieces is the primary factor anticipated to drive the global pre-owned luxury watches market.
- The depreciating value of luxury watches is a major factor to challenge the market growth.
- The North America pre-owned luxury watches market is projected to dominate the global market.
Pre-Owned Luxury Watches Market: Report Scope |
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Base Year |
2023 |
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Base Year Market Size |
USD 25.7 Billion |
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Forecast Year |
2024-2032 |
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Forecast Year Market Size |
USD 53.96 Billion |
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CAGR Value |
9.5% |
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Pre-Owned Luxury Watches Market Key Trends/Major Growth Drivers |
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Restraint Factors |
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Pre-Owned Luxury Watches Market Segmentation |
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Pre-Owned Luxury Watches Market Key Players |
Chrono24, WatchBox, eBay Inc., Bob's Watches, Crown & Caliber, Watchfinder & Co., TrueFacet, LLC, Govberg, The Watch Club, Watches of Switzerland, and others. |
Pre-Owned Luxury Watches Market Outlook
A timepiece that has been previously owned and worn by an individual being resold to another buyer is known as pre-owned luxury watch. These watch are also known as second-hand or used luxury watch and are usually known for its craftsmanship, design and heritage.
According to our experts at KD Market Insights, one of the primary factors anticipated to drive the growth of the global pre-owned luxury watch market is the growing preferences of consumers to purchase high-quality timepieces. Consumers worldwide are always on the look for having luxury products, such as a watch, that holds historical significance, have unique design, or are a limited edition piece. Pre-owned luxury watch allows consumers to own these watch at an affordable price point as compared to purchasing new luxury watches. Hence, this affordability factor attracts a wider range of consumers who aspire to own luxury watches, thereby contributing to the market growth. Chrono24, WatchBox, and eBay Inc. are some of the significant parties in the global market for pre-owned luxury watches.
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Pre-Owned Luxury Watches Market Drivers – Analyst’s Observation
According to the analysts at KD Market Insights, some key growth drivers for the global pre-owned luxury watches market are:
- Rise in Need Among Individuals to Collect Vintage and Collector’s Items: Watches which are associated with certain brands, possess a vintage story. Luxury watch brands, while manufacturing these quality timepieces, ensure to give that extra-edge for which consumers are willing to pay the price. Pre-owned luxury watches often hold historical significance, unique designs, or limited editions that appeal to collectors seeking rare or discontinued models. Owing to this, there is a growing appreciation for vintage and collector’s watches among enthusiasts and collectors, which is anticipated to drive the demand for pre-owned luxury watches.
- Growing Availability of Pre-Owned Luxury Watches in Online Marketplaces: With the advent of e-commerce platforms and online marketplaces, the availability of pre-owned luxury watches to customers globally have been very easy. These platforms provide greater accessibility to make a purchase of these watches and also offer transparent pricing, authenticated services, and secure payment options to the customers. Owing to such beneficial factors associated with online shopping, several customers prefer purchasing pre-owned luxury watches online, thereby creating a world full of new opportunities for market growth.
Which Probable Factors Could Hamper the Growing Pre-Owned Luxury Watches Market Trend?
As per our KD Market Insights analysis, some of the challenges expected to limit the global market growth of pre-owned luxury watches are:
- Increasing Concern for the Availability of Counterfeit Products: One of the major factors anticipated to limit the market growth of the global pre-owned luxury watches market is the availability of counterfeit products. Consumers worldwide have the fear of purchasing counterfeit or fake watches, and may result to financial losses and disappointment, and hence, poses a threat to the trustworthiness of these luxury watches.
- Depreciating Value of Luxury Watches: The price of luxury watches, unlike any other luxury goods, experience a depreciating price over time. This hampers the resale value of the product and may hamper the overall profitability of the seller. Such a factor is therefore expected to limit the market growth in the coming years.
How is the Global Pre Owned Luxury Watches Market Segmented?
Our experts at KD Market Insights have segmented the global pre-owned luxury watches market as:
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By Type |
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By Distribution Channel |
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By Region |
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What are the Probable Factors Influencing the North America Pre-Owned Luxury Watches Market Forecast?
The North America pre-owned luxury watches market is majorly driven by the presence of a large younger generation population, including Millennials and Gen Z, who are showing great interest for pre-owned luxury watches as these watches carry status symbol. Moreover, the rising trend for sustainability and conscious consumerism among the population in the region that prioritizes lowering waste and minimizing impact on the environment, is also expected to create opportunities for market growth in the region. Besides this, the growing availability of trusted online platforms that offer a wide selection of authenticated pre-owned watches, along with increasing celebrity endorsements to drive awareness for pre-owned luxury watches, are some of the additional factors anticipated to contribute to the market growth in the region.
As per our analysts at KD Market Insights, the following five players lead the North America pre-owned luxury watches market growth:
- WatchBox
- Bob’s Watches
- Crown & Caliber
- Tourneau
- Watchfinder & Co.
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Key Countries to Watch for in North America Pre-Owned Luxury Watches Market |
Key Insights |
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United States Pre Owned Luxury Watches Market to Register the Largest Regional Market Share in 2032 |
USD 15.10 Billion |
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Canada Pre Owned Luxury Watches Market to Grow with the Highest CAGR During 2024-2032 |
9.8% |
Which Key Players Top the Global Pre-Owned Luxury Watches Market Share?
As per our analysts at KD Market Insights, the competitive landscape of global pre-owned luxury watches market facilitates our readers in identifying their closest competitors. The manufacturers who are associated with pre-owned luxury watches market are raising their focus on expanding their presence, as well as their market share. The market has also been witnessing an upward movement in the number of collaborations between research institutions and key players, aimed at introducing advanced technologies and innovation of new products. Here is a list of the key players who top the global pre-owned luxury watches market share:
- Chrono24
- WatchBox
- eBay Inc.
- Bob's Watches
- Crown & Caliber
- Watchfinder & Co
- TrueFacet, LLC
- Govberg
- The Watch Club
- Watches of Switzerland
What are the Recent Developments Observed in the Pre-Owned Luxury Watches Market?
Over the years, the experts at KD Market Insights have been observing the recent developments associated with global pre-owned luxury watches market trends. Our expert’s market forecast analysis has recorded the market players adopting plentiful of key strategies including new product launches, mergers & acquisitions, and collaborations.
For instance, Watches of Switzerland stated that it has launched a pre-owned selection of luxury timepieces. These luxury watches can be shopped online and comes with a 12-month warranty.
Further, Chronext shared that it has partnered with Breitling to become an authorized service center for pre-owned luxury watches in Germany.
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- Publication date: 9th April 2024
- Base year: 2022
- Forecast year: 2023-2033
- Format: PDF, PPT,Word,Excel
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