For the past 20 years, Watchfinder has bought and owned every watch it has sold.
Each piece has been brought into its workshop, checked, serviced and refurbished, if necessary, before being professionally photographed and put on sale through its website or growing network of stores.
That model, also adopted by the likes of WatchBox and Crown & Caliber (now owned by Hodinkee), differs fundamentally from the likes of Chrono24 and eBay, which are pure play online marketplaces and do not own the watches that are listed on their platforms by third party sellers.
In the case of eBay, every watch priced at over $2,000, or £1,500 in the UK, is checked and authenticated on the way from a seller to a buyer, but that is not the same as taking ownership of the items.
Watchfinder is looking to disrupt this market with a hybrid model where third party sellers can list their watches, just as they do on Chrono24, alongside the range of timepieces that have gone through the usual Watchfinder route of being bought then sold.
CEO Arjen van de Vall tells WATCHPRO exclusively that the Watchfinder marketplace will launch early next year, initially just for the UK market, most likely in the first quarter.
The aim is to elevate the marketplace experience so that it is almost indistinguishable, from a customer’s point of view, to buying watches directly from Watchfinder.
Third party sellers will not just simply list their watches alongside Watchfinder stock, but each watch will be inspected, authenticated and prepared by Watchfinder’s team of expert watchmakers and be sold with a Watchfinder warranty
Customers will be able to spread payments using financing options for either Watchfinder’s stock or third party items.
When a sale is made, the watch will have to go through Watchfinder’s authentication process on the way from the seller to the buyer in order for it to be sold with its warranty.
They will also be able to trade-in watches with Watchfinder and put the proceeds towards a Watchfinder or marketplace watch purchase.
“We are getting really positive feedback from the sellers we are working with about how this is going to work,” Mr van de Vall says.
Initially, Watchfinder is expecting to work with a carefully selected group of sellers. Mr van de Vall would not name any, but they are likely to be businesses with scale and a track record for great customer service and trusted inventory.
This could include secondary market specialists or primary retailers selling trade-ins.
Watchfinder has not disclosed the commission it will charge for each transaction, but has said sellers will not have to pay for listing on the marketplace.
