FeatureEverything You Need To Know About Buying And Selling Pre-Owned Luxury Watches

The words ‘pre-owned’, ‘second-hand’, ‘used’, ‘depreciation’ set off an alarm for anyone. Top that with the hefty price tag that complements all of it, and it could result in colossal panic. But The Watch Guide is here to ease your fears by stating facts that’ll change your complete outlook towards buying and selling pre-owned luxury watches in India. All the aforementioned terms, be it ‘pre-owned’ or ‘second-hand’ will become synonymous with ‘safe’ and ‘easy’ when you decide to trade with the right company, such as Ethos.

Amidst all the relevant information, the most important within the realm of pre-owned watches is their division into two categories – vintage and contemporary. Watches from the 1980s and older can fall into the category of vintage watches. Though this is just a rough rule of thumb to follow, since ‘vintage’ is a value that can be attached to watches, or any other product for that matter, because of various attributes other than their year of manufacture. Contemporary watches would refer to newer products, certainly including all that are still produced by their manufacturers.

Like the pre-owned luxury automobile segment, there are a myriad of reasons why Indians have a growing inclination towards second-hand watches but haven’t dwelled on it, since it wasn’t an established segment. It ranges from the sheer desire to own a genuine, glorious wristwatch that is no longer in production, to a great bargain being offered on a watch that is in mint condition but may not fit in the seller’s collection anymore. For example, a seller’s personal style could be expressed with a contemporary TAG Heuer wristwatch, and hence they would want to sell their ancestor’s Omega limited edition because it could just be collecting dust in a closet.

The profits that second-hand market is projecting is so magnanimous that even forerunners in the luxury watch industry such as Audemars Piguet have noticed the scope of pre-owned watches and already tapped into that segment. At SIHH (Salon International De La Haute Horlogerie) 2018, The CEO of Audemars Piguet, Francois-Henry Bennahmias, disclosed, “Second-hand is the next big thing in the watch industry.” Based on this, Audemars Piguet is testing the waters with selling pre-owned watches. And if the test-run does well, they’ll consider expanding it to the United States and Japan.

Following suit, other brands that are likely to take the profitable plunge in the pool of used watches include TAG Heuer, Hublot, and Zenith, as the head of the LVMH watch division, Jean-Claude Biver, is considering this move very seriously. Pioneer of the flyback chronograph, Breitling has jumped on the bandwagon of second-hand watches as well, and is using its insights to tap into the digital medium to get maximum leverage. As Breitling’s CEO, Georges Kern asserts, “This is the innovation we want to bring to the market. You can buy used cars with guarantee, but you can’t buy a pre-owned watch in a structured way today in the industry, which is weird.”

Buying Pre-Owned Watches Through Ethos

Luxury second-hand watches in India have hitherto eluded exploration openly due to the scare of infuriating luxury watchmakers, but with the brands themselves embracing the trend, there’s little to fear. Here’s where Ethos Watch Boutiques comes in, as the perfect place to buy your watch and to expect the right value for it. At Ethos, on offer are not only well-known international names such as Omega Seamaster, Breguet Classique and IWC Aquatimer but also the endeavour to match the best quality standards before a watch is put on sale.

‘Beware of counterfeits’ is not a warning you need to concern yourself with when buying a second-hand watch at Ethos. In fact, before a pre-owned watch is made available for purchase, the extremely skilled staff at Ethos – especially seasoned in working with Swiss watches – check minute details, such as whether or not any genuine component has been replaced with a counterfeit part, or the condition of the rubber around the gasket, among other technical aspects.

Quality check: When a watch is first finalised to be showcased on the ‘pre-owned’ section of Ethos, it is put through the most rigorous quality check, amounting up to even 20 checks per piece. This is the kind of attention a timepiece is tended to when it is being sold by an authorised dealer, and not just another fancy vendor at your local electronics market, as seen across India.

Condition and evaluation: It takes experience to scrutinise and put the right price tag on a timepiece, and that’s exactly what Ethos is equipped with. From minute dents and scratches to faulty timekeeping hands and crowns, everything is checked for its value and then repaired or serviced as required, while even looking into the movement at the heart of the watch for any possible fault.

Source credibility: For any buyer, it is paramount to know the source of the watch. This is best explained with the analogy of pre-owned automobiles. In the sphere of luxury cars, there are cases wherein the buyer is duped simply because he was sold a stolen car, wrapped in the pretext of grandeur. In a situation like this, the buyer is stranded, as they can neither go back to the company nor can they resell the car. Similarly, filched watches can be non-traceable. However, at Ethos, before featuring any pre-owned watch, a thorough check is conducted with the owner, to make sure of its authenticity and credibility

A two year-warranty: One of the most incredible boons of buying a pre-owned watch is the two-year warranty that is levied on the timepiece. A benefit absolutely unheard of in the second-hand luxury watch world, a claim like this is levied simply due to the confidence Ethos wishes to instill in its customers by priding on the confidence it has in its quality checks etc.

No dubious claims: Unlike other sources, at Ethos you get what you see. That is, all images of watches shown here or in the pre-owned section are the actual pieces on sale and are products of photo-shoots conducted by Ethos.

Attention to details: Ethos wants to make sure you know your watch before you make the big investment. Every watch has its specifications mentioned next to the visuals. This includes a brief overview of the brand or collection, and details of the size, features, materials, etc. A ‘closer look’ section describes the condition of the watch in depth.

Selling Your Old Watches On Ethos

In as recent as the last five years, there has been a drastic change in the audience that constitutes the luxury watch market. The new-age watch enthusiast seeks a swap way more readily than before. But that does not mean they would dispose of their timepiece for a throwaway price. In fact, this section of the audience conducts extensive research for the best price they can quote for their timepiece.

Auction houses are among the biggest platforms to sell old watches and can sometimes fetch double the amount expected by the seller. But, unfortunately, that’s the story in the west. In India, the concept of selling and buying pre-owned watches is itself so new that selling old watches through auctions is far from being an option. On the other hand, there’s Ethos, where watches are not bought by the bucket. This means there is prime importance and utmost attention given to each and every timepiece that is purchased by Ethos for reselling purposes.

The Convenience Of Selling Your Valuable Wristwatch

No seller’s haggle: Associating with a reliable company that follows International standards when it comes to selling luxury watches has its own perks. Firstly, brands have certain guidelines in place, which includes not negotiating over prices, which works in favour of the seller as there is no back-and-forth as in haggling with local vendors.

Receive the best offer: Once you take the wise decision to sell your watch to Ethos, the team offers you the best price after scanning through the prerequisites. The best part is you don’t even have to walk into a store to get your watch evaluated and can simply share authentic images from the comfort of your home to receive an initial offer.

The onus is on us: Post the acquisition of the wristwatch from the seller, the onus is on Ethos to spend funds on bringing it to the perfect sellable condition. The seller will not be plagued with having to constantly shell out funds to spruce up the watch.

The Easy Four-Step process:

• The seller uploads all relevant information about the watch on the website
• Ethos will then give an offer price based on the face value of the watch
• The watch will be collected from your home, and quality check will be taken upon by Ethos
• Post the final evaluation, quick, hassle-free payment is made to the seller

This systematic process is a boon for any sellers who have genuine timepieces but are reluctant due to the fear of being duped or the lack of guidance.

Editor’s Pick

The ‘pre-owned’ project at Ethos is fairly new, but off to a great start. Here’s a selection of the currently available second-hand watches that could help all reluctant sellers to shed their inhibitions, and present great offers to prospective buyers.

Omega Speedmaster

This timepiece is the crème of the segment. The iconic Speedmaster series has been a part of six lunar missions and the watch has a legacy of its own and exudes Omega’s ‘adventurous, pioneering spirit’. It harbours the vibe of racing through its design elements. This pre-owned Omega Speedmaster has a deep black dial with scratch-resistant sapphire crystal to protect it. The watch features a date window strategically placed within the 12-hour counter at six o’clock.

The other two sub-dials represent a small seconds counter at nine o’clock and a 30-minute recorder at three o’clock. The classic sub-dials appear more flamboyant courtesy the textured Clous de Paris pattern. The blazing Speedmaster has an aluminium tachymeter in matt black, which sits securely within a 40mm stainless steel case. At the heart of the watch is the Co-Axial calibre 3330 and the solid watch is fitted with a stainless steel bracelet.

IWC Aquatimer

The brand that defines luxury and classic taste, yet retain their ‘everyday wristwatch’ look is IWC Schaffhausen. Their ‘passion for innovation and technical inventiveness’ is reflected in each and every collection of theirs, and old or new, every IWC timepiece is stylish. The first Aquatimer was launched in 1960 and post the raging reviews it received from watch connoisseurs, the brand endowed the collection with all the developments needed in a professional diver’s watch. The Aquatimer Automatic 2000 is for the water maniacs who love to explore and push the ocean depths. The contemporary looking watch comes with a compact, yet bold case sizing up at 42mm and sits comfortably on the wrist.

The titanium case not only makes the watch extremely sturdy but also very light and agile. This is complemented by the vulcanised rubber strap that is sportive, courtesy the patent IWC rumble stick pattern block, which allows moisture to pass through. The highlight of the watch is the vibrant bezel. The watch has two crowns; the ratcheted crown at four o’clock operates the unidirectional, inner bezel, with the first 15 minutes marked on a lime yellow background defined by blue Arabic number, and vice versa to highlight the next 45 minutes. The crown at two o’clock adjusts the timekeeping functions of the watch. The extremely practical blue dial is fairly clean with hour batons, a date window at three o’clock and hour and minutes and chronograph hand. At the heart of the watch is a chronometer-grade, Schaffhausen ETA 2892A2.

Trivia: If the professional diver’s watch wasn’t exciting enough, you might be interested to know that this timepiece marks a special place in the watch closet of the king of smooth vocals, John Mayer.

Titoni Airmaster

A delicate, visual and aesthetic delight from the brand that has an unblemished legacy is the Titoni Airmaster. Here’s a vintage-looking wristwatch that radiates a joyous vibe thanks to its overall tangerine hue. The perfect timepiece to grace a wrist, this has the right colour palette and size.

The watch has an orange, pan-shaped dial and simple baton appliques in a golden tint, which adds a graceful touch and contrasts well against the dial colour. The hour and minute hands are dauphine shaped and the dial also features a date window at three o’clock. The watch has a comfortable, round, 36mm steel case fitted with a Plexiglas to safeguard the dial. To match the elegance, Titoni has fitted a cream leather strap to keep the watch securely fastened around the wrist.

With all things on a rise for the universe of pre-owned watches in India, it is not just the best time to grab a used watch in a mint condition, but also to sell a luxury watch you might have, to fetch you its right value.

Head to the pre-owned section of Ethos Watches for more