Chopard has a high-watch division and a luxury jewellery division. The L.U.C line and Alpine Eagle sit closer to the high-watch side; Happy Sport sits closer to jewellery. Mille Miglia somewhere in between. That structural reality shapes the pre-owned market more than any other variable. The buyer for a L.U.C...

Karl-Friedrich Scheufele still runs Chopard's watch division. That family ownership matters more than it sounds. The brand operates with a longer-term view than most luxury watch businesses, and the L.U.C line, in particular, has been built to compete technically with Patek and Vacheron rather than commercially with broader luxury brands....

Bvlgari watches sit in a strange in-between. Italian design from Rome, Swiss manufacture from Neuchâtel, and a brand identity that splits cleanly between watch collectors who care about the Octo Finissimo and jewellery buyers who shop the Serpenti line. The two groups don't usually overlap. For anyone planning to sell...