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New York—London Jewelers has announced a partnership with pre-owned luxury timepiece seller Crown & Caliber to give customers store credit or cash for their watches.

The retailer, which has six store locations across Long Island and New York City, will provide its clients sale estimates from Crown & Caliber for their pre-owned high-end watches, either online or in-store.

Upon receiving a quote, customers can opt to receive cash or a London Jewelers store credit, which will be 20 percent higher than the cash value and redeemable for all in-store and online purchases.

“Within a 20-mile radius of New York City, there are likely hundreds of millions in pre-owned watch inventory sitting on people’s dressers or wrists,” Crown & Caliber CMO Jason Allen said.

“Our partnership with London Jewelers gives customers an easy and enjoyable avenue to gain real value for what they own, whether that be in compensation, a new watch or a piece of jewelry after trading in.”

Some of the brands the partnership is targeting are Rolex, Omega, TAG Heuer, Breitling, Cartier, Panerai, IWC and Patek Philippe.

Crown & Caliber and London Jewelers said that their symbiotic partnership adds new revenue streams to their businesses, increasing both foot and online traffic for a truly omnichannel approach to the pre-owned watch market.

“We’re excited to partner with Crown & Caliber to reach our current customers and attract new ones, offering them a greater trade-in value than they’d otherwise receive and giving them the opportunity to trade up to one of our 35-plus luxury timepiece brands,” London Jewelers Vice President Scott Udell said.

More information on the watch trade-in program is available on Crown & Caliber’s website.

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