The pre-owned watch and jewelry market has a new competitor on the block. Rebag, a New York-based accessories e-tailer known predominately for reselling high-end handbags, has now extended its reach to include items like a Van Cleef & Arpels 18-karat white gold and chalcedony Alahambra necklace ($10,500) to a 40 mm Rolex stainless steel Submariner Date with a Cerachrom bezel ($14,590).
Rolex’s Submariner model is on fire right now, thanks to the brand’s brand new 2020 Submariner launches in 41 mm. A $56,000 Patek Philippe Nautilus was also on offer, but has already flown off the site. In total, the company has added 12 new brands including Hublot, Cartier, Omega, Tag Heuer, Audemars Piguet and Tiffany & Co. And in the future, Rebag will also offer pieces from luxury brands like Chanel and Hermès, names it already counts among its fold for handbags.
“Since we were founded six years ago, customers have been requesting that we add jewelry and watches,” Charles Gorra, CEO and founder of Rebag, told Robb Report. “This feedback increased both online and in-stores since our expansion earlier in June. The demand with existing customers is definitely there, and we anticipate that we’ll capture new customers who love watches and fine jewelry even more than bags and accessories.” Right now there are 83 watches and 233 pieces of jewelry up for grabs, so Rebag has a long way to go before it can compete with sites like 1stDibs and The Real Real, among others, which offer thousands of pre-owned pieces in both categories. But for those on the hunt for a unicorn, this is just one more place worth scouring.
Like 1stDibs or eBay, the company also allows prospective clients to put in an offer to the seller through its Clair program. But it goes a step further, by calculating the resale value of an item via built-in codes and condition grades to serve as a pricing reference for both buyers and sellers. Clair also includes special recurring discounts and preferred pricing to resellers and buyers who do large-scale business with the site. Another feature that sets it apart from the pack is its Infinity platform, which allows shoppers up to a year to trade their purchase in for new products on the site with 70 to 80 percent of the original purchase price of the first item to be used towards the new acquisition.
To make sure both its sellers and buyers feel safe about the authenticity of its new platforms, Rebag has grown its team of experts and specialists to inspect every piece that comes through its doors. Their verification process takes up to five days. “We are investing in the necessary resources for those categories,” says Gorra. “Our platform is equipped with the required infrastructure to deliver a premium service to all watches and fine jewelry lovers.”
If you are looking to unload your vault, Rebag is looking to sell both men’s and women’s watches. Jewelry will be predominately female-centric, but Gorra says the site also welcomes male or unisex rings, bracelets and cufflinks