The team behind secondary market watch trading site Delraywatch.com has launched a fresh venture for high end timepieces.
Vault 303 aims to bring the curation of a high end boutique to the watches it buys and sells by concentrating on modern watches priced at $20,000 and over or vintage pieces selling for upwards of $10,000.
There will also be a focus on offering watches from independents such as F.P Journe and H Moser.
“You will see fewer or none of the flashy or trendy brands or models,” says John Pietrasz, co-founder and chairman of Delray Watch and Vault 303.
Being an extension to the Florida-based Delray Watch business gives Vault 303 an immediate advantage over other emerging businesses because of the technology, logistics, expertise and experience that comes from the parent organization.
“Vault 303 utilizes the same backbone and technologies that has allowed Delray Watch to scale so quickly over the last few years. Out of the gate we have the automation, custom built watch-software and media skills to accelerate the business,” Mr Pietrasz describes.
Not that scale is the ultimate aim of Vault 303, where exclusivity and personal service to collectors is paramount.
The site, Vault303.com, is limited to roughly 30 pieces at a time, according to Mr Pietrasz, “although most deals thus far have been done before the watches make it to the site,” he adds.
Using a network of discerning high end and independent watch collectors and an automated systems, Vault 303 is typically able to sell many if not most of the watches before they hit the website. F.P. Journe, and A. Lange & Sohne are among the labels that typically move before hitting the website,” Mr Pietrasz reveals.
Vault 303’s mission is to create highly personalized experience for regular watch collectors where they can come together as a community, talk watches and feed their passion for trading their prized posessions.
“We are bringing together collectors and learning about their interests, wants, and haves in terms of watches. When the watch they want comes in they receive an email and vice versa,” Mr Pietrasz explains.