Bob's Watches is an online marketplace for the resale of Rolex watches based in Huntington Beach, California. The company is the first to introduce and offer used watches through a process called the Rolex Exchange in which they list the buy and sell price of each timepiece. They have a patent filed in the United States as the only e-commerce company to utilize the exchange concept.
Video Bob's Watches
Rolex Exchange
Bob's Watches was founded in 1999 as a seller of various watch brands and models. The company was purchased in 2010 and relaunched as an exclusive reseller of Rolex,. Bob's Watches lists several models of Rolex that they have in stock on the site and potential buyers can see the amount that the company pays for each model alongside the cost of the watch in order to gauge the value of a purchase; the Exchange relies on financial transparency in order to gain consumer trust. Founder Paul Altieri was quoted as saying "People had no place to find Rolexes and see their real value. They didn't have a safe place to sell their watches."
The Internet has allowed for a growing market of luxury watch sellers, due to the investment holding value. Since its acquisition and repurposing as an exclusive Rolex reseller, the company has been listed on the Inc. 500 and profiled by lifestyle and men's magazines such as Maxim, The Wall Street Journal, and Forbes.
Maps Bob's Watches
See also
- Disintermediation
- Profit margin
Further reading
- Altieri, Paul (January 31, 2014), The Pre-Owned Rolex Exchange: The Official Price Guide, Createspace Independent Pub, ISBN 1494962705 . A self-published manual by Bob's Watches CEO Paul Altieri explaining his perspective on how to shop for used luxury watches.
References
External links
- Official website
- In Defense of Rolex Watches, written by Altieri and published by AskMen
- Patent application #20120233038 for a Watch Exchange
Source of the article : Wikipedia
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