Bob's Watches is an online marketplace for the resale and trade of watches, with a focus on Rolexes. As of 2016 it was one the largest watch reselling websites in the United States.
The company was founded in the mid-1990s by Bob Thompson in North Carolina as a local seller of various watch brands and models. Thompson retired in 2010 and sold the business to Paul Altieri for $8,000. Alteiri relaunched the website, with a focus on reselling Rolex watches. From the beginning, its website listed the price that the company would be willing to pay for each watch alongside the price the company would sell the watch for. In 2014 it began offering buyers and sellers of Rolex watches the ability to post selling and buying prices, creating an exchange.
As of 2013 the company had a retail storefront in Westminster, California, and offices in a strip mall in Huntington Beach, California. Altieri's wife, Carol, is the company's chief operating officer.
By 2017 grey market sales of luxury watches were "upending the global watch industry," according to Barron's; exports of new watches from Switzerland fell 10% in 2016 and there was a glut of inventory of new watches, driving prices down.
Video Bob's Watches
See also
- Disintermediation
- Profit margin
Maps Bob's Watches
References
External links
- Official website
Further reading
- Murphy, Jr., Bill (February 14, 2014). "5 Things That Drive Away Customers". Inc.
Source of article : Wikipedia
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