As luxury watchmaking booms, Gen-Z buyers find time in second-hand timepieces

A 2019 file photo shows a model by Swiss watchmaker Richard Mille displayed on the opening day of the 29h International Fine Watchmaking Exhibition SIHH. Photo: AFP

Swiss watches are in high demand these days, but sales of second-hand timepieces are also booming, driven by Gen-Z buyers who want luxury goods but are also sustainability-minded.

The global second-hand watch market is estimated at nearly CHF20bil (RM91.8bil) and could reach CHF35bil (RM160bil) by 2030, according to a study out in October by the auditing and consulting giant Deloitte.