You don’t need a Master of Economics to realize that people are having to get creative in order to ride out the ups and downs of this economy. Priorities are changing for a lot of people, and some are finding that the $5,000 purse or $20,000 watch they bought a little while back isn’t quite as important as say the mortgage or paying for college.
So what’s a former high-roller to do? They could go to a pawnshop, but beyond fulfilling some kind of Dickensian stereotype, the person looking to sell their high-end belongings will almost certainly get an offensively low price. They could try to go back to the store where they made the original purchase, but again the offer will probably just add insult to their financial injury.
Re-Thinking the Buyer / Seller Dichotomy
Hamilton Powell, founder of Crown & Caliber, is re-framing the historically “adversarial” relationship between the buyers and sellers of luxury goods. His startup specializes in helping clients consign high-end timepieces.
The switch is that instead of making a profit from buying a watch from a client at a low price (bad for the client but good for the company) Crown & Caliber has developed a model in which they help their clients sell their watches on various partnering platforms. Powell lets the market set the price of the watch and takes in revenue from a fixed percentage-based fee. This way both the company and the client benefit when someone buys the pre-owned timepiece at a fair market value.
The Crown and Caliber model may not be able to get their customers the amount that they originally paid for the watch, but will definitely leave them with a much higher final figure than the other traditional consignment services. Powell has essentially created an exchange for high-end watches by bringing clients together with a network of collectors and dealers.
How it’s done
It’s not just about providing a place for people to sell watches, Crown & Caliber is also focused on helping their clients sell their watches for the highest value possible (a goal that benefits the company and the client a like).
The Crown & Caliber 6 step process is as easy and painless as possible:
- Customers fill out an online quote form with the watches info and receive a quote within 3 days.
- C & C provides an estimate based on historical sales data.
- If the client accepts the offer the company sends an insured, prepaid mailing kit along with a contract to sign.
- The watch gets inspected and the offer is confirmed.
- The watch gets listed with in 5 days of the client accepting the final offer. If repairs are needed the client is notified.
- 14 days after the watch sells money gets sent to client. This covers the 14 day return policy for the new buyer.
These guys really know how to sell a watch. After receiving the goods they fluff and buff the watch and professionally photograph it, giving their customers a competitive edge in the consignment market place. It’s not everyday that you see a company selling luxury brands that finds a way of making a profit by ensuring their clients get the most from their investments. Check out Crown & Caliber now at CrownAndCaliber.com.