Crown & Caliber is the web’s first ever exclusive buyer and consignor of high-end luxury watches. We exist because selling a luxury watch is a tough thing to do – and most people have to resort to going to an auction house (30-35% fees), Ebay (tough if you arent a power seller), Craigslist (dangerous), or their local retail jeweler (lowball offers + high sleaze factor).
Before Crown & Caliber, there was no convenient and easy way to sell a luxury watch. If you’ve ever tried to sell your watch, you know the only real options are Craigslist, Ebay or the “dealer” with a pinkie ring, comb-over and bad attitude – now there is a better way! For individuals looking to sell their watch, they simply go to our site and fill out our online quote form. Once we receive this information, our expert valuation team reviews the request. We then call the customer and present two offers:
1) a Cash offer, and
2) a 60-Day Guaranteed Consignment Offer. If the customer simply wants cash, then they can elect to accept the cash offer. But if the customer can be patient and wait 60 days, we will sell the watch for them and guarantee the low end of the estimate.
BusinessInterviews.com: Can you elaborate on how Crown & Caliber is modernizing the concept of selling luxury watches?
Hamilton: Our process is completely different from any other alternative. Our online service makes it possible for customers to send their watch from anywhere in the world. We give our customers a white-glove service and strive to get them the best value for their watch. In an industry that is known for ripping customers off, we are trying to change the luxury watch buying industry. It is extremely easy for our customers to use our service – just 5 steps:
1) You fill out the quote request form on our site.
2) Our valuation team then provides you with 1) a Cash Offer and 2) a 60-Day Guaranteed Consignment Offer.
3) If you like either, we will then send you a pre-paid and pre-insured shipping materials for you to use to ship your watch to our facilities.
4) Once we receive the watch, our watchmaker verifies and authenticates it and verify our offer.
5) If you choose the cash option, payment is then made within one day. If you chose the consignment option, we sell your watch within 60 days and will guarantee an offer within the original consignment offer.
There really aren’t any other companies out there that offer the services that we provide. We are strictly online, and therefore we don’t have the overhead costs of a retail jeweler. Therefore we tend to be able to offer more money for a watch.
Also, because we offer a Cash offer AND a Consignment Offer, we arent hiding behind our margins like the competition does. We tell you the price we will sell the watch for, and you can decide which option best fits your needs. We will even show you actual sales data so you can make an informed decision. In this day and age, customers are smart, and want transparency. We give them that – and the peace of mind that they arent getting ripped off.
BusinessInterviews.com: Often with a luxury purchase, a customer wants to have a personal experience with the product before making a final decision. How are you overcoming this potential obstacle?
Hamilton: To establish a personal experience and relationship with each customer, our sales representatives deliver each individual quote by telephone, rather than just an email. During the phone call, our team shares our quote with the customer and is able to share the data that backs up this number. Customers are able to ask any questions and we do our best to ease any concerns they may have about selling their watch. Our sales representatives do a great job of representing our company and of assuring our customers that our goal is to serve them. By speaking with customers on the phone, we are able to learn about each individual customer. Each watch has a story and we are interested to learn it.
I will go out on a limb and say that our white glove approach provides a more enjoyable and professional experience than any other alternative out there. We have hired the best people in the business. Don’t take our word for it – check out our reviews
BusinessInterviews.com: What’s one marketing strategy that’s worked well for you so far?
Hamilton: We have enjoyed interacting with thought and industry leaders as well as current and potential customers through social media – mainly Facebook, Twitter and Instagram. Our social media efforts have helped us to create a brand image as a helpful and trustworthy company that is passionate about watches. Interacting with others on social media helps us to be more transparent and to create relationships with other watch enthusiasts. Our followers on social media click on links that take them to our blog and help them learn more about us as a company and the services that we
BTW – if you have a cool watch, you should participate in our weekly Photo Friday contest!
BusinessInterviews.com: Can you talk about the inspiration behind your new Consignment Service?
Hamilton: A while ago, I sold my car to a dealer. I think I got a fair price, but once I got home, I had a nagging feeling in my gut. “How much will they end up selling it for?” My nagging feeling turned to frustration: “Did I just get ripped off?” We never want our customers to feel this way, which is why we created our Consignment Service.
Our goal is to get customers the most for their luxury watch. Through this Consignment Program, we will sell the watch on behalf of the customer. Before we begin, we will provide the customer with actual sales date and an estimate for what the watch should sell for. We guarantee the customer that the watch will sell for the low end of the estimate. Using this service, we will clean, perform basic service, and professionally photograph the watch. We will then list it on our site as well as other third party sites. In addition, it will be included in our monthly viewing which goes to over 40,000 watch enthusiasts world-wide.
We list the watch for 60 days and guarantee that their watch will receive an offer of our quoted amount or higher at the end of that period. This program offers our customers a way to sell their watch with the chance of a high reward without really having any risk. It allows us to get our customers the most for their watch while making the process as easy, safe, and convenient for them as possible.
Its like an auction house, but with lower fees and a guaranteed price!
BusinessInterviews.com: I enjoyed discovering that you have donated enough funds to MAP International to provide 100,000 Z-Paks to children around the world who are in need of medical treatment. What inspired you to support this cause in particular?
Hamilton: Our goal is simple: We want to leave a legacy. We want to build something that is more than just a business, but rather, create something that will live beyond our own lives. By donating funds to MAP International, we are able to use the thing that tells time, watches, to give time to those in need. MAP International is an incredible organization and we are honored to be able to help them make a difference. Because MAP is based in Atlanta, we have been able to get to know the members of that organization on a personal level and can be kept up to date with the impact that are donations are making in the lives of these children. It helps to add even more purpose to the work that we are doing every day.
BusinessInterviews.com: How do you plan to keep the momentum going?
Hamilton: Our goal is to get our customers the most money for their watch. In an effort to achieve this, we are always coming up with new ideas and ways to get our customers the highest value. We are not content with remaining stagnant and will continue to improve our techniques and processes to make it easier and more rewarding for our customers.
Ultimately, our goal is to become the largest pre-owned watch company in the country. We are certainly moving in that direction – and I feel that given our track record, there is no reason we wont get there soon.
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