TheWDN, IWJG to certify watches
December 12, 2007
Davie, Fla.—As the watch industry continues to battle counterfeiting issues, The Watch Dealers Network (TheWDN) and the International Watch and Jewelry Guild (IWJG) are pushing forward with plans for their highly anticipated watch certification and price sheet programs.
TheWDN said in a statement that as a result of the two programs, watches will be traded more efficiently and transparently among dealers, at the same time adding to consumer confidence when purchasing an officially certified item.
While grading laboratory locations, including an overseas presence, are currently still being considered, TheWDN and the IWJG announced recently that consumers will be able to send watches in for a 125-point inspection conducted by two experienced, certified watchmakers. Among the parts to be authenticated are the case, bracelet, movement and crystal.
Costs are expected to start at about $95 and will be based on the complication and value of the watch being certified. Details as to the layout of the certifications are being kept confidential for the moment.
In addition to receiving a hard copy, certifications and images will be available for viewing online.
As for the price sheet program, each sheet will list suggested watch valuations based on criteria such as supply, demand, current sales prices and overall global market conditions. Access to the monthly price sheets will require a subscription.
"We believe that this is the beginning of a new era in the buying and selling of watches," reads a statement issued by the IWJG. "As the demand for watches grows, so do the needs of the industry. The two components directly address the efforts being made to unite the international markets in bringing about an even more robust trading environment."
TheWDN and the IWJG are currently offering discounted pre-registration programs to members and frequent users. For more information, contact [email protected].
December 12, 2007
Davie, Fla.—As the watch industry continues to battle counterfeiting issues, The Watch Dealers Network (TheWDN) and the International Watch and Jewelry Guild (IWJG) are pushing forward with plans for their highly anticipated watch certification and price sheet programs.
TheWDN said in a statement that as a result of the two programs, watches will be traded more efficiently and transparently among dealers, at the same time adding to consumer confidence when purchasing an officially certified item.
While grading laboratory locations, including an overseas presence, are currently still being considered, TheWDN and the IWJG announced recently that consumers will be able to send watches in for a 125-point inspection conducted by two experienced, certified watchmakers. Among the parts to be authenticated are the case, bracelet, movement and crystal.
Costs are expected to start at about $95 and will be based on the complication and value of the watch being certified. Details as to the layout of the certifications are being kept confidential for the moment.
In addition to receiving a hard copy, certifications and images will be available for viewing online.
As for the price sheet program, each sheet will list suggested watch valuations based on criteria such as supply, demand, current sales prices and overall global market conditions. Access to the monthly price sheets will require a subscription.
"We believe that this is the beginning of a new era in the buying and selling of watches," reads a statement issued by the IWJG. "As the demand for watches grows, so do the needs of the industry. The two components directly address the efforts being made to unite the international markets in bringing about an even more robust trading environment."
TheWDN and the IWJG are currently offering discounted pre-registration programs to members and frequent users. For more information, contact [email protected].
