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Pre-owned Luxury Watches Market
Luxury watches are witnessed as an emblem of reputation and triumph which is driving the market demand.
Possessing a timepiece from an eminent brand is frequently liked with a specific level of achievement and refinement.” - Polaris Market ResearchNEW YORK CITY, NY, UNITED STATES, October 18, 2024 /EINPresswire / -- Our pre-owned luxury watches market report has been prepared using advanced methodologies and research techniques to help businesses make strategic business decisions.
According to an exhaustive report by Polaris Market Research, the global pre-owned luxury watches market is poised for significant growth over the next decade. In 2023, global sales income reached USD 11.94 billion. Predicted to boost at a robust CAGR of 11.6%, the market is estimated to reach USD 32.05 billion by 2032.
Market Introduction:
Purchasing pre-owned watches is a substantial way to acquire a luxury brand such as Rolex or Omega watches for a lesser cost. Several used watches may be obtainable for less than RRP which indicates that one can obtain more for the money by shopping usage. For important horology fanatics, vintage and specific edition models are arduous to obtain new so the used market is a practical option to trace down particular pieces. If one is seeking an investment piece, pre-owned could be considered.
Luxury watches are evidence of the specialist artisan who structured them. They are generated to endure the test of time and become pieces one can propagate to the generations. Even pre-owned high-standard watches have an abundance of life left, rendering it an acquisition one can like for decades to come. Some collectors perceive these watches as investments that can be treasured over the years, generating a distinct convergence between fashion and finance pushing the pre-owned luxury watches market demand.
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Who Makes Pre-owned Luxury Watches?
.Bob's Watches
.Chrono24
.Crown & Caliber
.eBay Inc.
.Govberg
.The Watch Club
.TrueFacet, LLC
.WatchBox
.Watches of Switzerland
.Watchfinder & Co
Market Drivers and Opportunities:
.Timeless Appeal: The timeless interest of these brands cuts across generations. The legacy and repute linked with names such as Rolex and Philippe render them desired by collectors covering varied age groups. This epoch progression boosts the demand for pre-owned luxury watches market growth.
.Growing Approval: The market persists to allure the customers pushed by binary incentives, popularity, and instant obtainability while others are attracted to the individuality of specific models. The inclination for the status expounding items and the ease of instant approach assist in the continuing intrigue of the market.
.Surge in E-Commerce: The market topography has experienced an intense relocation with a speedy surge in e-commerce and online marketplaces. Digital platforms have not only eased smooth relations between buyers and sellers but have also enlarged the market's worldwide penetration.
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Segmental Analysis:
By Type:
.Automatic
.Manual
By Distribution Channel:
.Online
.Offline
By Region:
.North America (U.S., Canada)
.Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
.Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
.Latin America (Brazil, Mexico, Argentina)
.Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
.The pre-owned luxury watches market segmentation is based on type, distribution channel, and region.
.By type analysis, the automatic segment held the largest market share. This is due to outstanding artisanship and contentious awareness of particular intrinsic in the generation of automatic luxury watches.
.By application analysis, the offline segment is poised to register a significant CAGR. This is due to the capacity for the consumers to physically inspect the timepieces, deal with an adept sales workforce, and validate the watches in person, notably, to decrease the probabilities.
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Regional Overview
The research report covers all the major regions and sub-regions of the pre-owned luxury watches market. The study provides market insights into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
.North America: North America accounted for the largest market share. This is primarily because the rise in e-commerce and online marketplaces has notably eased the consumer approach to obtaining pre-owned luxury watches.
.Asia Pacific: Asia Pacific is anticipated to witness the fastest CAGR from 2024 to 2032. The region's growing opulence of upper-class consumers fuels the regional market expansion.
Browse PMR's Pre-owned Luxury Watches Market Report Coverage from Different Publications:
The global pre-owned luxury watches industry is expected to reach USD 32.05 billion by 2032, expected to grow at a CAGR of 11.6% during the forecast period.
FAQs:
What is the CAGR estimated to be calculated for the pre-owned luxury watches market?
The market is expected to grow at a CAGR of 11.6% during the forecast period.
What are the key segments covered in the pre-owned luxury watches market?
The market report covering key segments are type, distribution channel, and region.
What are the key driving factors in the market?
The key driving factors are affordability and value Retention.
What will be the market value estimated by the end of 2032?
The market size will be worth $ 32.05 billion by 2032.
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About Polaris Market Research & Consulting, Inc:
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.
Likhil G
Polaris Market Research and Consulting
+ + + +1 929-297-9727
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