Want a new luxury watch? Trade in the one on your wrist
Sellers of high-end watches say that they are seeing an explosion in the secondhand market
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Washington
LUXURY watch seller Danny Govberg is very busy these days with his Philadelphia-based company, even when he is selling fewer new timepieces than he used to.
That is because his 102-year-old emporium, Govberg Jewelers, is seeing an explosion in the secondhand market, where the wealthy owners of expensive wristwatches such as Patek Philippe and Rolex are increasingly trading their used ones for a different (but not necessarily brand-new) style. It is one of the biggest changes that Mr Govberg has seen in the industry's market landscape in the past two decades.
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