Reply With QuoteThat’s a good idea from a business perspective, I don’t know if they will be competitive enough to compete with grey market. Time will tell.
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In The Times business section, it is reported that AP are due to launch a second hand business later this year to capitalise on the value of second hand watches. AP chief executive is a quoted as saying “second-hand is the next big thing”.
No other details.
That’s a good idea from a business perspective, I don’t know if they will be competitive enough to compete with grey market. Time will tell.
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That would be a really sensible thing to do, just like a lot of the car manufacturers. They could attach servicing facilities and obviously remove the worry of fakes.
If only Rolex would do this we could put Haywood back in his box
It'll give more confidence coming from AP than from a third party though, I'd imagine.Originally Posted by Redwolf
Though it may also mean their retail prices are confirmed yet again to be rather painful when compared to the preowned ones, even though both are coming from AP direct!
Interesting and there's definitely a market for it direct from AP.
Linde Werdelin already does used on their site quite successfully.
It's the servicing element that's likely to appeal to buyers over grey.
I can only imagine they would be a healthy premium over other used APs, but it could well be worth it for the reassurance. You’d know you were getting a correctly serviced watch without any dubious attempts at refinishing, and they’re in a position to refurbish them with new bezels, bracelets and other parts too. There’s a balance to strike, to make money on this side of the business without taking away from their own new sales - it will be interesting to see the price and condition they offer. I guess they will also be suggesting trading in your old watch for a new one, or even a better used one. It works for cars though, why not watches?
Update: more here.
It looks like they will initially only be offering trade in of an old watch for a new one, and then only in Switzerland for the moment. But that begs the question, what happens to the old one? Or can you also trade in for an upgraded used one? If it’s successful they will expand it to USA and Japan, no mention of the UK. I can’t work out how a trade in that takes place in Switzerland would work out for Vat purposes.
Even more here, including mention of a new unisex product line for 2019.
Last edited by Itsguy; 20th January 2018 at 17:32.
Sensible idea.
I think FP Journe was one of the first to do this a year or so ago, with a 'certified pre-owned' type arrangement.
Re the trade in/up aspect, that's a bit like TAG Heuer offering their smart watch customers credit should they later want a TAG mechanical watch instead.
Wasn't a similar idea floated by Tag Heuer last year ?
Haven't heard much about it since.
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I wonder if they own any themselves ? As, they would consider AD returns etc
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Considering how ridiculously expensive it is to service an AP this could turn out to be a good thing for those looking for a second hand AP without the immediate worry of service costs.
Pre owned direct from manufacturer is interesting. Wonder how their ADs see this. Presumably it would be from their boutiques only?
What will WatchFinder do now? Will the spare links dept have to close down? 🤣
Linde Werdelin were first out of the gate in offering pre-owned models no longer in production, so as not to compete with their ADs.
£800-850 for a basic 2 or 3 hander like the 15202 & 15400 isn't "rudiculously expensive" within the of the value of the watch.
If you want a ridiculous service cost, try owning a modern day Ferrari!
I'm not sure why people feel this way when AP posts their relatively reasonable service costs for the entire world to see.
You have to remember that when new these watches are £10k... some of more complicated models much more £1k is not ridiculous.
I seem to remember Zenith saying they planned a similar scheme.
Are you sure the 'second hand is the next big thing' statement hasn't been misunderstood? AP may just be talking about a small (large) seconds movement. 😁
haha that was my first reading of the thread subject: they're gonna sell seconds hands??
Manufacturer in Second-hand business?
A seller who controls both demand and supply. Great business plan indeed!
The AP CEO explains their plans in this (slightly strange) interview... clearly he and the interviewer have er history.....
https://youtu.be/p5YodO_iNZ0
That was bloody funny. Normally Francois comes across as stuffy but that was superb.
Agree, great interview.
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