Selling $30,000 Watches Online Requires New Strategies

Pre-owned luxury watch dealer SwissWatchExpo has developed a novel approach to selling high-value timepieces online. The company hosted an Instagram Live event where viewers voted for their favorite watches, resulting in significant audience engagement and subsequent sales.

The event, held on August 26, featured 16 watches in a single-elimination bracket format. Participants ultimately selected a 1922 Cartier Tank Louis over a Rolex Day-Date in the final round. This format attracted a record number of comments, and a week later, two viewers contacted the company to make purchases.

Eugene Tutunikov, founder and CEO of SwissWatchExpo, notes that selling such high-value items online necessitates a different strategy than for low-cost, high-volume goods. Rather than creating artificial urgency with countdown timers, this method capitalizes on the uniqueness of the products and customer interaction.

"Each watch we have, it’s the only one available; so, it’s who acts first," Tutunikov stated. "Once somebody makes a move and buys that watch, it’s no longer available for you." This creates genuine urgency and encourages active audience participation in the discussion.