Changing Times:Turmoil in the Watch Industry and the Opportunity of Pre-Owned ( #ijl2018 day 2)

Changing times: Turmoil in the Watch Industry and the Opportunity of Pre-Owned with Adrian Hailwood of Dreweatts (Est 1759) by Maya MK.

Watch maven Adrian Hailwood gave an interesting talk at #IJL2018 day 2. By exploring the opportunities within the pre-owned watch market.

Hailwood opened his talk by saying emphatically, “we are in a crisis […]the product has changed, people who don’t move with it, get left behind.”

He went to elaborate on the numerous crises that are at play…
+ mass production
+ the quartz crisis
+ currency crises
+ smart watches/no watches

Adrian shared a personal account:

“As a collector of watches, I will always leave [home] with the watch on yet it will get to 4 o’clock in the afternoon until I realise I haven’t wound it.”

The Senior Watch Specialist asked a crucial question: What’s the role of direct online retail?

+global reach
+ open 24/7
+ highly profitable
+ the role of social media and campaigns such as “Speedy Tuesday”. A marketing campaign by Omega for Speedmaster on Instagram. This trend is also seen in publications such as Revolution Magazine, Hodinkee – limited editions that’re available online only. Apt reminder, Social Media is POWERFUL.

Hailwood summarised beautifully, “Authenticity and originality are not the same thing. Something is either fake or it is not.”

Any questions? Of course I had to ask about how to buy an engagement watch (similar to an engagement ring sentiment). He replied with:

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