The pre-owned jewelry and watches market is highly unorganized and does not offer much scope for secure, online transactions. This paper presents a business model for used precious jewelry resale to meet the recent rise in demand globally, while ensuring high quality standards and transparent and secure transactions. Implementing this model would enable the creation of a robust market for used jewelry, ensuring profitable outcomes for customers and sellers alike, and promoting sustainable jewelry.
Benefits of the New Model:
- Creation of new markets for pre-owned jewelry
- Lower prices
- Ensuring trust between buyer and seller
- Reduced fraud
- Transparent and secure payment processes
- User friendly interface
- Right item delivery guaranteed
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