Watchfinder

Watchfinder & Co. is an online retailer of second-hand watches based in Maidstone, UK. The company was described by the Financial Times as the "leading pre-owned e-tailer" for watches; its annual turnover was £60m in 2015 and is forecast to hit £70m by 2016, and the total value of the watches it has sold was £165 million as of 2015. The website receives 7.4m unique visitors per year, one of the highest numbers for any website about watches. It has a stock of over 2,500 watches across more than 50 brands, making it the UK's largest second-hand seller.
As well as this market-leading position, Watchfinder has also been notable for many original practices in the world of used watch sales: it was the first UK website dedicated to the online sale of second-hand watches when it started in 2002; it was the first such company to introduce a buy-back guarantee in 2011; it has an in-house servicing department, which employs expert watchmakers to service and repair watches from a wide array of manufacturers; and it is one of the only watch retailers to publish a mainstream online magazine, The Watch Magazine.
Watchfinder has won several awards for business success. It was named the Watch Retailer of the Year at the UK Jewellery Awards in 2014 and 2015, E-commerce Business of the Year at the 2014 Digital Entrepreneur Awards, and Retail Hero at the Growing Business of the Year Awards. The brand was one of only 10 UK companies among the 2014 Sunday Times Virgin Fast Track Hot 100 "ones to watch". Watchfinder is a finalist in the 2015 National Business Awards, while the company founders were shortlisted for the EY Entrepreneur of the Year Awards and head watchmaker Tony Williams was one of WatchPro's Top 100.
History
Watchfinder was founded in 2002 as a means of using the Internet to facilitate the sale of pre-owned luxury watches. The company moved to its office to Maidstone in 2003, following the sale of a Paul Newman Daytona for £13,000 - an unprecedented sum for an online sale at the time. Interest generated by this and early press coverage drove sales to an average of 55 watches per week by 2005; over 10,000 customers had been served by 2006. By 2009, the site had over 25 million pageviews per year, having introduced commission-based sales and a dedicated photography department. In 2011, Watchfinder launched the WF&Co Group - this comprised other projects beyond the site itself, including The Watch Magazine and the WF&Co Boutique, a shop in the Royal Exchange that opened in 2013. Turnover grew 56% in 2013. and HSBC loaned a further £6.6m in 2015. Today, the company employs more than 80 people and continues to operate out of Maidstone.
Retail
Watchfinder has been noted for its reputation for high quality products and reliable transactions. Customers can buy and sell pre-owned watches either directly or via commission, with all watches checked and guaranteed by Watchfinder. According to ', "Its massive database of buyers and sellers means it can find virtually any pre-owned...watch in existence". More than 15 watches are currently sold per day, with the average sale at about £4,000.
Watchfinder & Co. Boutiques
A Royal Exchange store opened in 2013, and the company plans to open more in London and beyond. The store is styled as a boutique showroom and recorded sales of £660,000 in the month of December 2013. It follows the opening of a Mayfair office where the company can meet private clients.
In 2015, further stores opened in Bluewater shopping centre, Kent, and the Victoria Quarter, Leeds.
Buy Back Guarantee
In 2011, Watchfinder trialled a rental system, called "try before you buy", to help customers make purchase decisions. It was the first second-hand retailer to offer this option. Watchfinder offers servicing and repair on all its pre-owned watches as part of their comprehensive warranty. The servicing is carried out in an in-house workshop, and is accredited to service major watch brands including Cartier, IWC Schaffhausen, Officine Panerai, Audemars Piguet, as well as the Swatch Group and LVMH. As of 2014, the workshop has 30 staff and services around 600 watches per month,
In 2015, director Matthew Bowling announced that Watchfinder would create an industry-led apprenticeship scheme to train new watchmakers and technicians for its service centre and other roles. The scheme, part of the government's Trailblazer program, is led by Bowling
The Watch Magazine
Watchfinder's quarterly publication, The Watch Magazine, is separate from the retail part of the company. The magazine publishes news, reviews and features pieces on a range of watch-related subjects. It has received over 100,000 downloads as of early 2014 is available online or as tablet and smartphone apps, and is notable for its interactivity - most UK watch magazines are published only in a physical format.

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