Danny Govberg says lines are blurring between the pre-owned and primary collectible watch markets.
He is a pioneer in the pre-owned watch market, which he prefers to call the collectible watch sector, as well as a major player in the primary space with Govberg Jewelers in Philadelphia and, most recently, with the opening of a Patek Philippe boutique in Miami through a new venture called Nineteen Sixteen.
He has even been behind the acquisition of a majority stake in Swiss independent watchmaker De Bethune.
WATCHPRO caught up with the irrepressible entrepreneur ahead of this fall’s expansion of WatchBox into the UK and China and the opening of a network of collectors’ lounges across the United States.
WATCHPRO: What do have been your biggest professional achievements in the past 12 months?
Danny Govberg: The biggest professional achievements of the last 12 months include WatchBox’s investment in one of my favorite independent brands – De Bethune.
Denis Flageollet is an absolute genius, and we are thrilled to help our clients and collectors discover the brand from this unique perspective.
Another milestone was celebrating the opening of the Patek Philippe Boutique by Nineteen Sixteen Company in Miami, where we were honored to mark the occasion with Thierry Stern.
WATCHPRO: What has been the toughest challenge you’ve faced in the past year, and how did you overcome it?
Danny Govberg: The watch market has been incredibly strong over the last year; if we are basing things on a 10-point scale, we have been at a level 15.
The toughest challenge has been – and still is – to prepare for a shifting landscape, when the exuberance that’s taken over our industry begins cools off. Any adjustment to a ‘normal’– and still very healthy – market will be felt, and it is important to be prepared with a strong foundation.
With that in mind, we remain focused on bringing fantastic collections to our community, promoting a culture of transparency, and developing content to educate and entertain watch enthusiasts.
WATCHPRO: What do you hope to achieve in the year to come?
Danny Govberg: As we invest in expanding the WatchBox footprint over the next year, we’re also building our video and media capabilities.
Today’s consumers are taking it upon themselves to learn about the category, and we aim to deliver high-quality watch content to collectors worldwide – marrying education with entertainment.
I call this “edutainment” – which we will expand in scope and language over the coming year.
WATCHPRO: What one piece of advice would you offer to someone who would like to follow in your footsteps?
Danny Govberg: No’s are free. They can be motivating, eye-opening; and it only takes one ‘yes’!
WATCHPRO: What do you think the biggest challenges and opportunities are for the American watch industry right now?
Danny Govberg: One of the biggest opportunities for the watch industry is in the merging of the primary and secondary watch markets and developing a seamless customer experience.
The verticalization of the industry and the twists and turns that arise from changing distribution models will present a challenge in the years to come for brands, retailers, and consumers.
