Jul. Hügler: Vienna’s Second-Hand Jewelry and Watch Specialists

2023-06-09 16:17:33

Five to six people come to the shop at Habsburgergasse 9 every day to sell jewelry. Mostly inherited pieces or jewelry that are no longer needed following a divorce. “Then people are no longer emotionally attached to it,” says jeweler Franziskus Kriegs-Au.

Together with his co-owner Reinhard Stark, he founded the company “Jul. Hügler” reopened in 2009. The name will already say something to those familiar with the scene: the jeweler existed even before the reopening. For four generations, until the company collapsed in 2005 due to inheritance disputes.

After the reopening, Kriegs-Au and Stark have specialized in second hand. They buy and sell used jewelry and watches. That’s not unusual. On the contrary: “It’s a new market,” says Kriegs-Au. In the past, families would have bought from the same jeweler for generations. Today it is different: “Young people in particular are breaking away from the classic jewelry market.” Among other things, because the retro trend has also reached the luxury goods market. “Old jewelry and old cuts are extremely popular.”

fewer heads

That’s why more and more jewelers are jumping on the second-hand bandwagon, says Kriegs-Au. This is also confirmed by the Vienna Chamber of Commerce (WKW). As a result, demand has increased, especially for luxury watches and valuable second-hand jewelry. In addition to new goods, Viennese jewelers are also increasingly offering used goods, they say.

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And that comes with the customers – at least those of “Jul. Hügler” – well received. And not just because of the vintage look: second-hand jewelery is also significantly cheaper in most cases. “We only offer what comes in. “We don’t need a goldsmith, a diamond dealer or a middleman.” Less minds who have to earn money, that is.

At the same time, however, the piece of jewelery experiences a reduction in value for the person who sells it to the jeweler. In other words, you get less money when you sell than you spent when you bought it. And by 80 to 90 percent less, says Krieg-Au. Many people who want to sell their jewelry are shocked at first. “But when it comes to purchasing, no one can pay for someone else’s work.”

In principle, the chairman of the Viennese watch and jewel dealer Frank-Thomas Moch also agrees. Average high-quality goods do not experience a comparable increase in value as, for example, very high-priced jewellery. “The customer does not get the 20 percent VAT refunded if they are resold,” says Moch. However, he puts the loss in value a little lower: between 50 and 60 percent. Pure gold, on the other hand, is an exception due to the rise in the price of gold. Otherwise, the following applies: “Anyone who really speculates on an increase in value should rely on special pieces and need the necessary change,” says Moch.

Tight offer

The situation with luxury watches is even more special: not only small change is required here, but also patience. Customers sometimes have to wait between six months and two years for new watches from certain brands, says Moch. The reason: the demand is higher than the supply. “This also increases the price on the second-hand market,” adds Franziskus Kriegs-Au.

Due to the high demand, the watches – even second-hand ones – are also significantly more stable in value than jewellery. “And they are also more transparent,” says Kriegs-Au. In other words, you can find out more regarding the specific model on the Internet and find out the price at which they are being traded. This makes the comparison easier than with rings or necklaces.

The pieces of jewelery are sold by “Jul. Hügler” 80 percent via the Internet. A picture for Instagram, the price and that’s it. “We sell most of them within a day.” And 70 percent to Germany. To young people aged 20 and over. “To women who buy jewelry for themselves and watches to men.” But it is unlikely that the pieces will find a permanent home there. “In these fast-moving times, a lot is sold once more,” says Kriegs-Au. Third and fourth hand.

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