Blockchain authentication. Topwatch, South Africa’s premier pre-owned luxury watch specialist, has partnered with ORIGYN Luxury to issue digital authentication certificates. These NFTs are secured on the blockchain and can be used for every luxury product purchased in-store or online. These certificates are unique in that they provide a guarantee of authenticity and offer many options, including insurance and traceability.
ORIGYN Luxury has partnered with Topwatch to address the problem of counterfeit luxury goods being traded for genuine ones. The partnership monitors authenticity over the product’s entire life span. Topwatch, in partnership with ORIGYN Luxury is now capable of authenticating luxury watches using advanced computer visual, machine learning, and decentralised technology. Each watch receives a unique biometric fingerprint as a result. After this unique biometric fingerprint is created, an NFT with all the information is generated.
While most luxury watches are sold through authorized retailers and carefully selected dealers, counterfeits still plague the industry. The counterfeits that plague the Swiss watch industry cost $2 billion annually, and there are over 40 million fake watches being sold each year.
Johan Dreyer, CEO of Topwatch, says that the company has been fighting copied goods for years without any formal support. We are now able to support a pioneer in what is arguably the most important segment of the luxury goods industry. ORIGYN Luxury has joined forces to offer high-quality products and services that will enhance our customers’ journey to trust in CPO.
End-consumers demand transparency and proof that authenticity is being provided. Topwatch has introduced Authenticity Biometric Certificates.
“We have been in the watch business for many years and appreciate the rich traditions and heritage that it brings. Topwatch is proud to have witnessed and been a part in the integration of this technology with cutting-edge technology such as NFTs and Blockchain for global transparency. Our customers can now buy luxury watches and prove their authenticity by simply showing their NFT. Johan Dreyer says that this is a first in the world and that they are proud to have been an early adopter.
Topwatch will exceed R1Billion in revenue by 2022 -Topwatch officially announces that the company is on track for R 1 Billion in revenue by 2022. The independent certified pre-owned watch specialist has a 60% market share in South Africa. It is also expanding its global market share. Topwatch, an independently owned company, announces that it will expand aggressively using best-practice technology and trading principles. This is supported by more than a decade worth of reliable data.
Total AUM – Johan Dreyer speaks out about the business’s total Assets Under Management (AUM) which is more than R 3 billion. He says that “Investment in high-end watches has become a primary asset class within diversified portfolios. A thorough understanding of the market is a key driving force. This is being done by competent and reputable specialists who are certified Assets Under Management.
Access to qualified information is the key to determining your underlying value. This means knowing who your customer is, which watches they have (model-specific), and what price they should sell them. Johan Dreyer says that this is where Topwatch leads.
Topwatch is powered by sophisticated technology and algorithms. Topwatch has reliable access to global information thanks to an internal, highly developed pricing and data capturing system.
Twelve-Year anniversary Topwatch is proud to have been a leader in pre-owned luxury watches for the past 12 years. This has allowed Topwatch to offer ownership of a wide variety of luxury watches with minimal risk. Topwatch’s core values are innovation, sophisticated technology and world-class customer services. They will continue to do this for many decades to come.