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The time has passed, for now, to get rich quick by buying and selling watches. The shake-out will leave fewer, but more professional, players controlling the market.
Just days after Watchmaster was caught up in a massive security box heist and robbed of watches worth in the region of €10 million, the business has declared itself insolvent.
Watchmaster, one of the largest pre-owned traders in Europe, has had around 1,000 watches stolen from a secure facility in its home city of Berlin.
Watchmaster follows its opening of an office and showroom in London with the acquisition of MMC in Paris.
The business explains how buying and selling pre-owned luxury watches through Watchmaster is possible again without additional taxation in the UK.