Key figures for the second-hand market in 2024

From our 2024 Pre-Owned Jewelry Trends Report, here are our takeaways on this year’s jewelry purchases and searches.

The global second-hand luxury market 

The market of thesecond-hand applied to luxury represents 35 billion USD in 2024, of which 50% are watches and jewelry.

It is expected to experience an annual growth rate of +15% over the next ten years to reach 140 billion USD in 2034.

Digital platforms in the second-hand luxury market:

• Share: 30% of the market.
• Sector growth: 20 to 30% per year (2x faster than the market).
• Luxury : 2nd category best selling after fashion and accessories (No. 1 in the US) on the second-hand market.

The growth potential of the second-hand market

76% second-hand buyers report buying or selling luxury goods.

Still, more than half of consumers worldwide buy exclusively new items. With a new relationship to investment, sustainability, and rarity, these are all potential customers who would be tempted by second-hand items.

In 2024, 46% of European consumers had purchased a second-hand product in the last 12 months. Among these, it was a luxury product in 76% of cases.

75% of French people say they are ready to buy second-hand luxury products. This interest is even greater for women aged 18-34, 83% of whom are ready to buy these luxury products.

Indeed, the look at the purchase second-hand has changed positively. For a brand purchased second-hand :

• 54% have a positive outlook,
• 41% have a neutral judgment,
• and only 5% have a negative perception.

Who are the buyers? second-hand ?

With the widest range on the jewelry market second-hand, 58 Facettes identified three major profiles among its European clients.

The collector 

• Gen X / Baby Boomers (45-75 years old)
• Envy : find the rare pearl, a favorite or a piece of jewelry that will complete a collection.
• Personality : knowledge of the market and the value of a jewel.
• Type of jewelry : exceptional pieces.

The informed amateur

• Gen X (45-60 years old)
• Desire: to treat yourself with beautiful objects and Excellent value for money.
• Personality: desire for choice, and interest in both buying and selling jewelry.
• Type of jewelry: iconic branded pieces with beautiful stones.

The eco-responsible generation

• Millennials (28-44 years old) / Gen Z (12-27 years old)
• Desire: a jewel symbolizing an important event (marriage, birth, etc.).
• Personality: eco-responsible approach, interest in the quality and history of jewelry. Sensitive to innovation.
• Type of jewelry: first jewelry, beautiful stones

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