What is Watchbox?
WatchBox™ is the global destination for luxury pre-owned timepieces, offering an expertly curated inventory of luxury pre-owned watches for sale, personalized client services, educational opportunities and astute editorial content. Fueled by tech-aided convenience. In tune with today’s modern connected consumer, The WatchBox operates under the premise that time is your greatest luxury, and pricing transparency is paramount to establish trust. Our team of 140 associates are some of the most passionate watch enthusiasts in the business, maintaining a level of knowledge regarding the history, nuances of current collections and pulse of the secondary marketplace to welcome you into our world; lend expert council and keep you captivated. We have developed dynamic services to support collecting behaviors, buying, selling and trading of watches from private clients - from you - and our platform is backed by extensive and reliable market data. This growing knowledge base ensures authenticity, value and expert council as you buy, sell and trade timepieces from your personal collection. And we get it; we're watch enthusiasts too. We invite you to discover WatchBox online, over the phone, through our mobile app and within showrooms and private buying offices in Hong Kong and the United States. This is just the beginning. Redefining the luxury experience. WatchBox is the result of a game-changing partnership between Danny Govberg, CEO of Govberg Jewelers, Tay Liam Wee, former owner of Sincere Watch, and investor-entrepreneur Justin Reis. This partnership brings together unprecedented watch industry experience, innovative technology, sophisticated data systems and marketing, as well as financial strength and business acumen to positively transform the multi-billion-dollar pre-owned luxury watch industry.
|Danny Govberg Co-Founder, CEO Danny is a pioneering force of the contemporary watch industry. His vision and insatiable passion for watches and technology enabled the evolution of Govberg from a Philadelphia-based retail shop to one of the world’s premier authorized dealers of both new and pre-owned timepieces. Danny recognized years ago that selling new watches was only one way to support the life of a watch collector, and set in motion a tech-forward pre-owned strategy that inspired the evolution of WatchBox.|
|Tay Liam Wee Chairman Mr Tay Liam Wee is widely recognized as one of the luxury watch industry’s most dynamic entrepreneurs. He was instrumental in transforming Sincere Watch, a traditional family- owned company into a pan-Asian luxury watch retail and distribution group that was publicly listed on both the Hong Kong and Singapore Stock Exchanges. In 2015, Liam Wee began working on the concept that became WatchBox with co-founders Danny Govberg and Justin Reis. He currently serves as the Chairman of Watchbox to pioneer the digital transformation of the luxury watch industry.|
|Justin Reis Co-Founder Justin Reis is a seasoned investor and entrepreneur across various industries. He has extensive experience working with businesses and management teams to grow their operations and scale business models to global levels, and his 20+ years of experience in private equity investing in Asia will be critical in scaling WatchBox's Asian division.|
Pioneering changes in the global watch industry.
WatchBox is the leading ecommerce platform for the buying, selling and trading of pre-owned luxury timepieces, embracing technology, data, transparency and innovation.
Posted August 20, 2018
WatchBox says e-commerce has moved on
FHH Journal - The online marketplace for luxury pre-owned watches has opened a branch in Switzerland. We caught up with Executive Vice President Patrik Hoffmann, formerly CEO of Ulysse Nardin, in his Neuchâtel office to talk about the platform, which does a lot more than just sell watches online.
|Posted August 20, 2018 WatchBox: when a retailer successfully goes digital Europa Star - WatchBox’s goal is to put the successful trial carried out in the United States into practice in Europe and Asia via the new local offices. In the medium term, the platform aims to involve retailers in what it does. Retailers are a tremendous potential resource in the pre-owned watch sector and are currently under pressure to change their business model. In the long term, the objective is to forge partnerships directly with the brands.|
|Posted August 4, 2018 Justin Reis, co-founder and director of WatchBox, has changed careers but still brings the same of attention to detail to the job South China Morning Post - The concept, though, was not simply to create a marketplace. It was to buy and hold inventory, to restore and polish each timepiece with the help of experts trained in the Swiss watch industry, and to put them back on sale online in near-new condition - and with a warranty.|
|Posted July 23, 2018 Luxury Watch Veteran Upends Market With Pre-Owned Timepieces Forbes - WatchBox, meanwhile, isn’t standing still. Its management wants to expand beyond Asia and the U.S. A Swiss office opened this month to lead the European expansion, while a strategic tie-up with South Africa-based Topwatch will be its beachhead in Africa.|
|Posted July 11, 2018 WatchBox expands its reach in South African market move WatchPro - WatchBox, a global leader in pre-owned luxury watches, has announced its expansion into South Africa through a new strategic partnership with the country’s biggest supplier of pre-owned luxury watches, Topwatch.|
Posted July 6, 2018
Secondary Market is Driving the Price of New Watches
WatchPro - The biggest players in this market have come out of the shadows, and are now being taken extremely seriously by the major Swiss watchmakers....
Watchbox, which is part-owned by Philadelphia jeweler Govberg, just hired Swiss watch industry veteran Patrik Hoffmann as its executive vice president of the company’s Swiss division, Herbert Gautschi as vice president of business operations, and Susanne Hurni as the division’s vice president of marketing.
Posted June 13, 2018
Looking for a high-end watch? Buy old. Pay less. Make a killing
Wired - “I think pre-owned watches will be bigger than new watches in five to seven years,” says Danny Govberg, CEO of WatchBox, an online pre-owned marketplace and app launched in 2017.
Headquartered in the US, Hong Kong and Switzerland, it has $100 million in private equity to be invested over the next 18 months to strengthen its digital strategy. “My belief is that pre-owned is entering its golden age, because the technology and the transparency is here.”
Posted June 1, 2018
How the Internet Transformed the Secondary Watch Market into a Multi-Billion Dollar Industry
WatchTime - WatchBox, also accesses different data streams to determine and provide value and price development of mechanical wristwatches and aims to offer “secondary market pricing analysis, watch education, collection exploration and the latest news” in one central location.
WatchBox customers can either initiate a dialogue via the app, site, phone, email, social media or even visit the company in real life.
Posted May 25, 2018
An Investment on Your Wrist
New York Times - Websites like WatchBox and Hodinkee go beyond just selling watches and aim to create greater transparency for people who buy watches for thousands, not millions, of dollars. They want to increase visibility in a market that has often been opaque.
“We’re monetizing a wristwatch as if it’s an asset,” said Danny Govberg. “Watches have an underlying value, just like a diamond. You can take a diamond anywhere in the world and sell it. We’re creating a worldwide market for watches.”
|Posted April 18, 2018 The Expert’s Guide to Buying a Used Timepiece The Wall Street Journal - The more preowned watches there are available for sale from honest sellers, the more choice for consumers. The more choice for consumers, the lower prices for preowned and even, potentially, new watches. More choice, lower prices—that’s the best sort of disruption.|
Posted April 7, 2018
How to Make Money on Watch Investing
The Hollywood Reporter - As prices for vintage pieces reach "insane" levels, pre-owned watch dealers pick the hot 2018 models that could one day resell for a windfall.
Tim Mosso, media director of pre-owned seller WatchBox, sees a rosy future for Audemars' $34,800 Royal Oak Extra Thin (Ref. 15202IP), which is limited to 250 pieces and has a blue dial in a titanium and platinum case.
Posted March 23, 2018
Lights! Camera! Lots of Watch Action!
New York Times - WatchBox Studios, a video operation founded by the Philadelphia-based watch retailer Govberg, boasts even more impressive statistics: Combined views for the company’s three YouTube channels now average 1.1 million per month.
Mr. Govberg describes the video production team, WatchBox Studios, as “the CNBC of watches” — and an important part of the WatchBox website that Mr. Govberg and his partners introduced last year to change online sales of pre-owned luxury watches.
Posted March 23, 2018
The Watch Magazine Revolution Introduces Online Sales
New York Times - Watch publisher Revolution is sprouting an e-commerce arm, partnering with the new e-commerce platform WatchBox to sell pre-owned timepieces.
“People can buy, sell or trade on our digital platform,” Bruce Lee, Revolution’s co-owner, said in an interview. “WatchBox will make inventory available and we will provide the storytelling and videos. That’s why the marriage makes sense.”
|Posted March 16, 2018 A closer look at the value of the luxury watch market. CNBC - WatchBox Chairman Tay Liam Wee visited the set of "Squawk Box Asia" to talk about the Pre-Owned Luxury Watch market and explained how there are up to $500 billion worth of luxury watches available to enter the market.|
|Posted February 16, 2018 Trade In a Luxury Watch Like a BMW: It’s a Booming Business Bloomberg - WatchBox opened a new store in Hong Kong in September, which has seen sales of $3 million every month since opening, and is planning locations in the U.K., Germany, France, Italy, and Neuchâtel, Switzerland, this year. [WatchBox,] with an average transaction price of $10,000, has even begun to accept Bitcoin.|
Posted February 2, 2018
WatchBox starts accepting bitcoin payments for pre-owned watches
WatchPro - “Our buyers have evolved,” said Danny Govberg, co-founder of WatchBox. “They come to WatchBox from all over the globe, are tech-savvy, and are comfortable buying high-end luxury watches online."
Bitcoin payments will be handled by phone through WatchBox sales specialists and facilitated by BitPay, the largest bitcoin payment processor in the world.
Posted January 23, 2018
Hong Kong’s status as Asia’s ‘watch hub’ draws luxury pre-owned trading platform WatchBox
South China Morning Post - WatchBox has selected Hong Kong for its first foray outside the US, providing an online marketplace for the trade in second-hand luxury watches – with a warranty.
WatchBox debuted in Hong Kong six months ago, reflecting the first time the platform has extended itself physically outside the US, as part of a collective effort by four luxury watch industry veterans.
Posted January 19, 2018
In sign of times, luxury watchmaker Audemars embraces second-hand
Reuters - The United States, where sales of new watches have been falling for years, is the number one market for pre-owned watches, followed by Britain and Japan, said U.S. retailer Danny Govberg. His company said its second-hand sales had grown by 37-40 percent year-on-year over the past five years.
Govberg recently launched global e-commerce platform WatchBox for buying and selling pre-owned luxury watches.
Posted January 18, 2018
WatchBox Marks Swiss Expansion
Revolution - WatchBox, the world’s preeminent ecommerce platform for pre-owned luxury timepieces, is expanding into the heart of fine watchmaking: Switzerland.
Yes, once again the virtual world will be gaining a foothold in the real one. Our new neighbours – Revolution’s Swiss offices are in Geneva – will open for business in scenic Neuchatel in the first quarter of this year.
Posted January 15, 2018
Watch Brands Confront a Risky Business: The Secondhand Market
New York Times - In November, there was the debut of WatchBox, a global e-commerce platform for buying, selling and trading pre-owned luxury watches that is backed by CMIA Capital Partners, a Singapore-based private equity firm.
Equipped with sophisticated pricing algorithms and teams of in-house watchmakers, these e-tailers say it is only a matter of time before brands recognize the sites as allies in the pre-owned watch business.
|Posted January 9, 2018 WatchBox Adds Two New Executives to C-Suite JCK - The tech-savvy watch retailer has tapped Michael Manjos as chief revenue officer and Shri Ballal as chief technology officer.|
|Posted November 30, 2017 WatchBox Jockeys for Position in Pre-Owned Watch Market Worldwide With $100M in Seed Capital Robb Report - Through a combination of a web portal and a mobile app, customers are able to browse and purchase from a vast pre-owned inventory (1,448 pieces at time of publishing), as well as connect directly with a knowledgeable member of their team to assess the value of their own watch to then either sell or trade.|
|Posted November 28, 2017 WatchBox Takes The Way We Buy, Sell, and Trade Pre-owned Watches To The Next Level Haute Time - Today WatchBox officially launched globally, and buying, selling and trading pre-owned luxury watches will never be the same again. With a concept that has already proven its worth in the US market, the rest of the world can now also experience this new way of buying, selling, and trading pre-owned luxury watches, as WatchBox takes it to the next level with a global website – and offices in both Hong Kong and Philadelphia.|
Posted September 20, 2017
Danny Govberg Talks About New Headquarters And Becoming A Luxury Tech Company
Danny Govberg talks about his vision is to turn the watch business into a luxury technology company that buys, sells and trades in new and used watches to anybody, anywhere at any time.
“I think in the watch segment, ‘pre-owned’ will become the biggest brand. It will be bigger than any one individual brand,” he said.
Govberg Jewelers recently purchased the pre-owned watch website “Watchuwant,” and will change the name to Watchbox.
Posted August 8, 2017
The Watch Enthusiasts’ Ultimate Personal Assistant Rebrands as WatchBox
Govberg Watches’ Popular Watch App, Govberg OnTime, Relaunches with New Updates as WatchBox by Govberg.
Since its 2015 debut, Govberg Watches’ groundbreaking free watch app, Govberg OnTime, has been downloaded by more than 160,000 users. With this growing popularity, the app now enters a second stage of development as WatchBox, reaching a new level of sophistication with a redesign in functionality, user experience and aesthetic.