A purveyor of jewelry and watches to Silicon Valley’s elites, Stephen Silver Fine Jewelry has partnered with online luxury marketplace TrueFacet, where users can buy and sell authenticated pre-owned jewelry and timepieces. But in a reversal of the contemporary trend, the partnership isn’t an effort to get Stephen Silver’s collection online, but rather to establish a brick-and-mortar boutique for the all-digital brand—giving TrueFacet access to the jewelry house’s Silicon Valley clientele.
Located within the Stephen Silver store at the Rosewood Sand Hill Resort in Menlo Park—the brand’s second location—the TrueFacet mini-boutique is stocked with merchandise from the online brand’s cache of more than 140,000 mostly pre-owned prizes. By using its online marketplace to consign, trade, and buy rare watches and jewelry pieces, TrueFacet has been able to fill its collection with pieces from some of the biggest names in the industry, such as Rolex, Audemars Piguet, Patek Phillipe, Cartier, and Van Cleef & Arpels, among others. Its rigorous authentication and refurbishment capabilities have won them recognition in the industry, leading brands like Zenith, Fendi Timepieces, and Faberge to designate the company a certified pre-owned partner.
For its part, Stephen Silver’s involvement with the digital brand should come as no surprise. Far from being mired in the traditional watch and jewelry business models, Silver has embraced the cutting edge. In fact, the company was an early adopter of cryptocurrencies like bitcoin, which it started accepting as a form of payment in 2014. Now, 20 percent of the company’s transactions are conducted with cryptocurrencies. Clearly, they know their market.
However, one aspect of the traditional buying experience that is reinforced by this partnership is the notion that purchases are best made in person, where you can get a feel for every dynamic of a timepiece before you plunk down a considerable sum to purchase it. Besides, instant gratification is the best kind, isn’t it?