From humble beginnings to a full-service ecosystem: How E50 winner redefines the pre-owned watch business

WHEN a pre-owned watch retailer earns a coveted spot among Singapore’s Enterprise 50 (E50) – a national accolade that honours the country’s top privately held enterprises for growth, innovation, and excellence – you know something is ticking differently.

For Watch Exchange, this milestone is more than a business award. It is a validation of how far the company has come in redefining what a professional, trustworthy and service-led watch business can be.

Few pre-owned watch resellers ever achieve enterprise-class recognition, and this win underscores how Watch Exchange has evolved from a boutique dealer into a full-fledged, integrated ecosystem that sets the benchmark for the industry.

“The E50 Award is not just a recognition of growth but a reflection of our journey built on integrity, professionalism, and innovation,” says Watch Exchange founder Wilfred Lok. “It reaffirms our commitment to raising standards and contributing to the continued growth of Singapore’s luxury watch industry.”

From boutique reseller to integrated ecosystem

Like many others in the trade, Watch Exchange started as a modest boutique specialising in pre-loved luxury timepieces.

But where most stopped at buying and selling, Watch Exchange saw a larger opportunity: To professionalise an industry that has traditionally been marked by inconsistency, information gaps and a lack of after-sales support.

Over the years, the company methodically and meticulously built a multi-layered ecosystem to meet every aspect of the collector’s journey. Central to this is Watch Exchange Singapore, the retail arm with over 800 authenticated timepieces in stock.

Supporting it is Watchlab Singapore, a Swiss-standard technical hub that handles everything from repair to servicing and restoration.

Completing the circle is Watchskins Singapore, which offers precision-cut protection films – an often-overlooked yet essential service for collectors who want to protect and care for their timepieces.

This intentional evolution reflects a deep understanding of market needs. As buyers grew more discerning and sought greater transparency, Watch Exchange doubled down on expertise and service quality.

Rather than competing on price, it chose to compete on trust, by building relationships grounded in reliability and consistency. The results speak for themselves: More than 20,000 watches sold; over 5,000 five-star reviews on Facebook and Google; and the largest inventory of authenticated pre-owned timepieces in Singapore.

Beyond its commercial endeavours, Watch Exchange also gives back to the community with its “Give Time, Share Hope” campaign. This initiative involves refurbishing and donating pre-loved timepieces, with proceeds from the sales of these watches going to the underprivileged and elderly communities, including residents of Geylang East Home for the Aged.

“It represents our belief that luxury and compassion can co-exist,” says Lok. “Through time and craftsmanship, we hope to give back to society.”

Redefining trust and professionalism

Every timepiece that Watch Exchange handles undergoes a meticulous 60-point Swiss Standard inspection, covering movement performance, case integrity and authentication checks. Each step is performed by trained watch specialists, whose expertise ensures that every timepiece meets exacting international standards before it is even offered to customers.

For the customer’s peace of mind, the company’s operations are CaseTrust-accredited, and it is fully licensed under the Ministry of Law for AML/CFT (anti-money laundering/countering the financing of terrorism) compliance and regulated by the Singapore Police Force – reflecting its dedication to ethical practices and consumer protection. It also offers a one-year in-house movement warranty – a rarity in the pre-owned market and a testament to its confidence in quality.

Equally important is the emphasis on discretion and customer experience. In an age where privacy is key, Watch Exchange’s approach combines digital efficiency with old-world customer service values. Every client interaction is handled with confidentiality, respect and the assurance that their trust is as valuable as the timepiece they hold.

Setting new benchmarks in the industry

With the E50 Award now in hand, Watch Exchange is looking ahead to a new phase of growth, one that’s defined by digital transformation and regional expansion.

“Winning the E50 Award motivates us to go even further in raising the standards of the pre-owned luxury watch industry,” says Lok. “Our next chapter focuses on digital advancement and regional expansion.”

On the digital front, the company is deepening its integration through an in-house ERP system that streamlines everything from authentication records to after-sales service. This unified platform allows the team to efficiently manage more than 800 luxury timepieces at any given time. With a single click, product listings are instantly synchronised across multiple channels, including the Watch Exchange website, Telegram, online marketplaces and the new Watch Exchange mobile app that is in the pipeline.

This new app will further extend this ecosystem, providing clients with digital inspection certificates, real-time updates and a seamless trading experience, enhancing the buying experience.

For greater convenience and peace of mind, Watch Exchange also has a Mobile Concierge Service for clients who wish to sell their luxury timepieces. To facilitate this, the mobile concierge team will pick up, inspect the watches and pay the seller on the spot. “This reflects our premium, customer-first approach and complements our digital ecosystem by extending our service beyond the boutique,” says Lok.

Regionally, the company is setting its sights set on markets such as Malaysia and Hong Kong, bringing its trusted, Swiss-standard model to a new generation of collectors across Asia. 

By deepening its capabilities and widening its reach, Watch Exchange is positioning itself not just for growth, but for leadership, with its ecosystem approach offering a glimpse of how the pre-owned watch sector can continue to advance.

Discover more at www.watchexchange.sg