Interview with Hamilton Powell (Crown and Caliber)
Crown and Caliber is a dedicated luxury watch consignment service.
I interviewed Hamilton Powell, Crown and Caliber founder to find out more. This is the two hundred and fifteenth in a series of DW interviews. Big thank you to Hamilton!
How would you describe Crown and Caliber in under 50 words?
Crown & Caliber is the preferred way for watch owners to sell their luxury watch. Our safe and convenient consignment process allows us to sell a watch on the owner’s behalf, ensuring that they receive the highest possible value.
What gap in the market did you discover that persuaded you to launch Crown and Caliber in 2012?
The internet can be used to sell many items, however it is nearly impossible for an individual to safely and profitably sell a high end luxury watch. This is the reason we created our service.
You employee 13 people, have you had any difficulties in finding talented employees and managers?
When hiring new team members at Crown & Caliber, not only do we look for a knowledgeable and talented individual, but it is also important for us to find someone who matches our company culture. As we look for new team members, we strive to find someone of the highest character, no matter how long that process may take.
Who do you see as your target audience? How are you reaching them?
Our target audience seems to be the watch enthusiast who is ready to turn in his/her old watch for another new or pre-owned watch. Most of these enthusiasts will search for a way to sell online. We have filled our site with helpful and interesting content, in the hopes that watch enthusiasts will visit our site to learn more about his or her favorite watch, as well as to take part in our Consignment Process.
On your website you show figures displaying incredible growth since you started up. Do you attribute much of your growth to the economic downturn?
While I am sure the downturn of the economy contributed to our success, I believe that the most significant reason for our success is the fact that we offer the best solution for people looking for a way to sell their watch. Our consignment process and white glove treatment is unparalleled and cannot be found anywhere else in this market.
How have you ensured your customers can trust you with such expensive and cherished items?
Ultimately our reputation is what conveys trust. In addition, our high-touch interaction with our customers develops these required trust bonds. Through our conversations with our customers, we are able to form personal connections and relationships with our customers, which gives them the assurance that the people handling their watch are trustworthy people. We also insure every package for the price we have quoted for their watch. This helps to give customers a sense of trust and ease.
How do you differentiate yourselves from your competitors?
Through our consignment service, we have created a new market instead of competing with all of the “watch buyers” out there. The problem with selling to a watch buyer is that they are going to buy it for x and then sell it for y. So in the back of a seller’s mind is always the question: ‘what are these guys going to end up selling my watch for?’ We decided to create a service where we work with the seller instead of against. In this age of technology, customers demand transparency. Watch buyers can no longer get away with hiding behind their margins. For this reason, we decided to focus on selling the watch for the owner as opposed to buying the watch from the owner.
Has it been difficult to find buyers for your watches?
It has not been too difficult to find buyers in this market. We have several ways of distributing our watch listings, such as our network of over 50,000 collectors/enthusiasts who have subscribed to our email list, our relationships with hundreds of international and domestic watch retailers, our listings on our website, as well as several other websites. With all of these different selling avenues, we are able to get our customers’ watches in front of thousands of eyes, ensuring that we get the highest possible value for each watch.
Where do you see Crown and Caliber in 5 years time?
Crown & Caliber will have become the nation’s number one preferred way to sell a luxury watch.
What are you most excited about at the moment?
Because of our success, we are in the process of hiring several new team members. We are excited to bring on new talent and to continue to be able to provide watch owners with a great service.
Can you convince the reader to start using Crown and Caliber in under 50 words?
Don’t let a watch buyer determine the value of your watch – let the market do that. Our consignment service ensures you will receive the highest amount for your watch. Visit our site for a complimentary estimate.
Finished reading? Check out Crown and Caliber!