The short answer is we base our offers and list prices on the current pre-owned watch market relying on supply and demand. We’ve spent the last several years gathering data from across the industry using offline and online resources to arrive at our watch values. Because there is not a “Kelly Blue Book” for watches, we have also built systems that help us to monitor the pre-owned watch market to ensure that our prices are always market-based. We cross-reference current market happenings with our own sales data of tens of thousands of transactions ensuring that we have a real-time pulse on the secondhand watch market. Doing this allows us to determine the fairest price for any watch at any time. In short, we use data not our gut feeling.