The announcement coincided with its full-year results, with growth driven by its jewelry brands.
TrueFacet Launches Brand-Certified Category
The online marketplace for pre-owned jewelry and watches is partnering with seven brands to guarantee the authenticity of their pieces.
New York—Online marketplace for pre-owned jewelry and watches TrueFacet is taking an extra step to ensure the authenticity of their pieces.
Launched this week, the company’s new brand-certified category will feature pre-owned pieces supplied directly by the brands that made them. Each item is inspected and refurbished by its respective manufacturer, which then verifies it with a certificate of authenticity and gives it a one-year warranty.
TrueFacet is the first online seller of jewelry and watches to provide brand-authorized items, the company said, in an effort to make the selling process as transparent as possible and to increase consumer confidence.
“Our brand certified pre-owned program continues TrueFacet’s core mission to bring transparency to a formerly opaque industry, ultimately benefiting both our partners and shoppers,” CEO and co-founder Tirath Kamdar said.
“Like never before, brands can regain control and maintain their exclusive brand positioning within the secondary market. On the consumer side, customers can shop for highly desirable, authentic pre-owned designer pieces that have been verified, refurbished and warrantied directly by their favorite brand and offered at an incredible value.”
The company is launching the category with seven partners that will sell pre-owned items exclusively through TrueFacet: Ernst Benz, Frederique Constant, Fabergé, Fendi Timepieces, Raymond Weil, Roberto Coin and Zenith.
TrueFacet said the partnership is beneficial for the manufacturers as it allows them to participate in another area of the market while maintaining brand integrity.
Thierry Collot, the U.S. brand director of Zenith, commented, “We at Zenith are happy to be part of the launch of TrueFacet’s brand certified pre-owned program. The innovative business approach is a very exciting concept where watch buyers will gain access to Zenith pre-owned timepieces in a safe, informative and respectable environment.”
TrueFacet will continue to inspect and valuate brand-certified items internally as well, making sure products are competitively priced. The company will also continue to provide its own purchase warranty, in addition to each brand’s warranty.
TrueFacet said it has been successful in targeting millennials thus far—its average customer is 35, and 28 percent of sales are to customers under 30—and its brand-certified category should continue to bolster consumer trust.
The Latest
Looking ahead, the retailer said it sees “enormous potential” in Roberto Coin’s ability to boost its branded jewelry business.
Jewelry trade show veterans share strategies for engaging buyers, managing your time effectively, and packing the right shoes.
Despite the rising prices, consumers continue to seek out the precious metal.
This little guy’s name is Ricky and he just sold for more than $200,000 at Sotheby’s Geneva jewelry auction.
Though its website has been down for a week, Christie’s proceeded with its jewelry and watch auctions on May 13-14, bringing in nearly $80 million.
Despite the absence of “The Allnatt,” Sotheby’s Geneva jewelry auction totaled $34 million, with 90 percent of lots sold.
Tradeshow risks are real. Get tips to protect yourself before, during and after and gain safety and security awareness for your business.
Lilian Raji gives advice to designers on how to make the most of great publicity opportunities.
The mining company wants to divest its 70 percent holding in the Mothae Diamond Mine in an effort to streamline its portfolio.
Why do so many jewelers keep lines that are not selling? Peter Smith thinks the answer lies in these two behavioral principles.
The “Argyle Phoenix” sold for more than $4 million at the auction house’s second jewels sale.
The annual list recognizes young professionals making an impact in jewelry retail.
Owner David Mann is heading into retirement.
While overall sales were sluggish, the retailer said its non-bridal fine jewelry was a popular choice for Valentine’s Day.
The mining giant also wants to offload its platinum business as part of an overhaul designed to “unlock significant value.”
Christie's is selling one of the diamonds, moving forward with its Geneva jewelry auction despite the cyberattack that took down its website.
The ad aims to position platinum jewelry as ideal for everyday wear.
Retailers can customize and print the appraisal brochures from their store.
The move follows a price-drop test run in Q4 and comes with the addition of a “quality assurance card” from GIA for some loose diamonds.
The site has been down since Thursday evening, just ahead of its spring auctions.
The late former U.S. Secretary’s collection went for quadruple the sale’s pre-sale estimate.
Three fifth graders’ winning designs were turned into custom jewelry pieces in time for Mother’s Day.
Kimberly Adams Russell is taking over the role from her father, David Adams, marking the third generation to hold the title.
As a token of womanhood, this necklace depicts when Venus was born from the sea.
The deal gives the retailer control over the distribution of Roberto Coin jewelry in the U.S., Canada, Caribbean, and Central America.
The company’s Easton location will remain open.