Though we are not professional researchers in jewelries and watches industry, new trends is emerging in jewelries and watches market.
Watch and Jewelry Repair industry is growing out of time. Due to mounting external competition from brick-and-mortar retailers and online repair service providers, as well as from substitute products, and that surging input prices have all taken their toll on the craftsmen of horology, the industry has been on the decline for the past decade, and the watch and jewelry repair industry is forecast to remain irreparable in the five years to 2018.
The secondary market for luxury watches currently is for the most part untapped and under served. With this demand in pre-owned watches, as well as shift in ladies watches, many people are selling their smaller luxury watch and buying a larger automatic watch.
The Asian markets are booming. Last year, there were sales of $14 billion in brand-new Swiss luxury watches. Of those sales, only $1 billion was in the United States. “We have had record breaking sales of our pre-owned watches over the past few years due to the demand of the Asian markets,” said Hal Martin, founder and CEO of Hal Martin’s Watch and Jewelry Co.
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