Michael Jordan-Backed WatchBox Sees Sales Boost From Rarer Timepieces
- WatchBox sales to exceed $400 million on interest in vintage
- CEO says average selling price has increased as buyers move up
WatchBox, the pre-owned luxury watch dealer backed by a squad of NBA greats and Wall Street investor Bill Ackman, forecast sales will increase to more than $400 million this year as collectors buy pricier and rarer timepieces.
Revenue will rise by about 33% in 2022 despite a pullback in prices for the most sought-after models from Rolex, Patek Philippe and Audemars Piguet, according to WatchBox Chief Executive Officer Justin Reis.