Bob's Watches reported a remarkable 20% increase in pre-owned watch sales from March to May, driven by recent price hikes in the luxury watch market due to tariffs and increased gold costs. Rolex, a major player, is expected to raise its prices, while the pre-owned market remains stable as Bob's Watches primarily sources its inventory from US sellers. The Swiss watch industry saw exports to the US rise significantly by 149.2% in April, ahead of impending tariffs, though concerns arise regarding how these price changes may affect negotiations with watch sellers.
Douglas Kaplan, chief commercial officer at Bob's Watches, revealed that the company's sales surged 20% amid luxury watch price hikes and supply issues caused by tariffs.
Kaplan expressed concerns for watch sellers, emphasizing that rising retail prices might pressure them to seek higher payouts for their pre-owned watches.
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