Pre-owned watch e-tailer Crown & Caliber and Troverie, an e-tailer that deals in new, brand-authorized timepieces, have teamed up to debut a nationwide trade-in, trade-up program. The new partnership offers watch owners and collectors the opportunity to trade in their old timepieces for cash or receive the cash offer as a store credit, along with an extra 20 percent of that offer that can be used toward the purchase of a brand-new watch at Troverie.
The program not only incentivizes watch owners to trade in old timepieces, but also encourages watch enthusiasts to buy new. The advantage for Crown & Caliber is that it provides the pre-owned retailer with inventory. According to founder and CEO Hamilton Powell, the company currently has more demand than it does stock. Powell also added that Crown & Caliber has experienced 165 percent year-over-year growth.
“Pairing our trusted pre-owned trade-in program with Troverie’s unique solution, supported by major luxury watch brands and a national network of authorized retailers, is the ultimate omnichannel experience that today’s luxury consumers demand,” Powell says. “Together, we allow consumers to receive a premium value for their existing timepieces to be used toward the purchase of a brand-new luxury watch.”
The new deal will also be an advantage to Troverie, driving new customers to buy new timepieces. The watch e-tailer has become a trusted source for authentic timepieces thanks to its partnerships with top watch brands such as Blancpain, Breguet, Breitling, Omega, and Ulysse Nardin, who authenticate each piece sold on the site.
“With Crown & Caliber, we are inviting online luxury watch consumers to experience—for the first time—a completely transparent, turnkey, and reliable exchange process of trading in timepiece that is infrequently worn, for a new watch from a leading brand that will be enjoyed for years to come and is fully protected by the manufacturer,” says Troverie CEO and founder Fred Levin. “We anticipate this nationwide offering will support the growing new and pre-owned luxury watch market during this holiday season.”
The watch brands being considered for trade include, but are not limited to,Rolex, Omega, Tag Heuer, Breitling, Cartier, Panerai, IWC, and Patek Philippe.