Week in Review: Talking watches with guest co-host Quaid Walker of Bezel
Dec 8, 2023
auto_awesome
Quaid Walker, co-founder and CEO of Bezel, joins the podcast to talk about the watch industry. They discuss falling luxury watch prices, watch brands embracing brick-and-mortar retail, and the future of the primary and secondary watch markets.
Fluctuation in luxury watch prices is attributed to the growing interest in watch collecting and factors like COVID, making watches popular collectibles.
Watch brands are increasingly embracing brick-and-mortar retail to provide an immersive brand experience while considering the need for a seamless digital purchase experience.
Deep dives
Fluctuating Watch Prices
The podcast explores how watch prices have fluctuated over the past year. It highlights the high prices in 2022 when Bezel, an authenticated watch marketplace, launched, followed by a subsequent drop in prices. The discussion suggests that despite the market drop, the growing interest in watch collecting has led to increased demand. The speaker speculates that factors such as collectibles' popularity during COVID times and the allure and mystique of watches contribute to the fluctuation in prices.
Brick and Mortar Retail for Watches
The episode discusses the increasing interest in brick and mortar retail for watches. Several brands and retailers, including Citizen and Bucherer, have been expanding their physical presence. The speaker emphasizes the experiential aspect and the ability of brick and mortar stores to immerse customers in the brand and its history. However, the speaker also acknowledges the importance of providing a seamless and efficient experience for customers who want a straightforward purchase. Bezel, primarily an online marketplace, aims to provide a high-touch digital experience while considering the potential benefits of a brick and mortar presence in the future.
The Future of Watch Resale
The podcast delves into the future of watch resale, exploring the convergence of the primary and secondary watch markets. It mentions Rolex's certified pre-owned program and the merging of watch box with jewelers to form the 1916 company. The discussion highlights the increasing acceptance and participation of primary brands in the secondary market. Bezel, as a secondhand watch marketplace, has noticed an influx of interest following Rolex's entry into the certified pre-owned market. The speaker also mentions the challenges of pricing and brand-dealer relationships within the convergence of primary and secondary markets.
On the Glossy Week in Review podcast, senior fashion reporter Danny Parisi breaks down some of the biggest fashion news of the week. This week, he's joined by special guest co-host Quaid Walker, co-founder and CEO of the online watch marketplace Bezel to talk about the tumultuous watch industry.
Parisi and Walker discuss why luxury watch prices keep falling, even amid apparent high demand. They also talk about the watch brands embracing brick-and-mortar retail and the future of the primary and secondary watch markets.
Get the Snipd podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered podcast player
Listen to all your favourite podcasts with AI-powered features
Discover highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share & Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered podcast player
Listen to all your favourite podcasts with AI-powered features
Discover highlights
Listen to the best highlights from the podcasts you love and dive into the full episode