September 14, 2023
Auction house Sotheby’s on Wednesday announced a partnership with Swiss watch and jewelry retailer Bucherer to sell luxury items at the latter’s boutique in Zurich.
Sotheby’s will open an exclusive area at Bucherer’s Zurich store where collectors will be able to browse and purchase pre-owned luxury items, from watches and jewelry to handbags, classic sneakers and luxury streetwear, Sotheby’s said in a news release.
Collectors will be able to purchase “items on display immediately” and will also have the opportunity to meet a Sotheby’s specialist to appraise their own items in a “welcoming” environment that will ensure a “discreet and private experience,” he added. Sotheby’s.
The Zurich shop-in-shop will also allow Sotheby’s to display rare items before auctioning them, such as a game jersey of American basketball legend Michael Jordan, estimated to be worth between $1 million and $2 million, which will be auctioned soon.
Sotheby’s 160-square-meter showcase in the Bucherer store on Bahnhofstrasse, Zurich’s main shopping street, features products that can also be ordered online and shipped to more than 70 countries, Sotheby’s said.
Currently, sales of second-hand products are booming in the luxury sector. Bucherer, which sells all major luxury watch brands, strengthened itself in this segment last year by signing a partnership agreement with Rolex, which will verify and certify Rolex watches whose owners are interested in reselling them.
Bucherer, which is also present in the luxury shopping districts of Paris and London, operates 36 stores worldwide, 15 of them in Switzerland, and will be acquired by Rolex, which announced its intention to buy the retailer at the end of August, without revealing any financial details.
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