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The second hand watch business is developing so much faster than the primary market, and its leading players are getting seriously rich.
Silas Walton, still in his mid-twenties at the time, spotted an opportunity seven years ago to become a de-facto authorised dealer for super-scarce pre-owned watches from the likes of Roger Smith, Kari Voutilainen and Philippe Dufour. His company, A Collected Man, now generates annual sales of around £14 million ($20 million) trading these watches with collectors all over the world.
Tired of mass-produced Swiss watches, collectors are increasingly turning to the independent sector to find watches that are rarer, more complex, handmade and exquisitely...