How You Can Use the Luxury Watch Data from Watchsignals (via API or Blockchain)

Introduction to Watchsignals

Watchsignals is a luxury watch comparison platform powered by artificial intelligence (AI). It provides luxury watch data that allows users to compare prices for luxury watches by predicting the price of listed pieces, or comparing different dealers, shops or marketplace prices. Watchsignals provides luxury watch price data by sourcing it from around the world and across various mediums, as well as using machine learning to predict the fairest prices.

Watchsignals Use Cases

The luxury watch market is highly driven by product premiumization and innovation, something that Watchsignals is very keen on. The luxury watch data by Watchsignals will allow developers to create smart contracts on the blockchain to serve different uses. These include:

I. Appraisal and insurance for blockchain apps

Data from Watchsignals is gotten from trusted marketplaces, dealers, shops and sites from across the world. The technology used also reconciles the prices depending on the current market fluctuations. Blockchain apps or solutions can therefore have an appraisal platform for luxury watches and insure their stock based on this data. The appraisal is possible because Watchsignals provides all data for each luxury watch in its catalogue such as serial numbers and collector database information, long-term appraisal data, and certificates of authenticity.

II. Creation of nonfungible tokens (NFTs)

Watchsignals has created a bridge between blockchain systems and the high end watch marketplace. Therefore, new types of products can emerge based on tokenization of these luxury items, on-chain verification of their authenticity, and their usage within financial products. For example, rare watches that are only owned by a select few in the world can be digitally tokenized into NFTs and their value rated based on their uniqueness and demand. Their owners can benefit by selling them to willing buyers on marketplaces. Luxury watch market data from Watchsignals can indicate the correct number of luxury pieces in these marketplaces, and help the valuation process and decision making process of tokenization.

III. Collateral in DeFi

Launching of the Chainlink node on mainnet will open many blockchain based opportunities for Watchsignals and its users. At the moment, real world collectibles have become tradable assets on blockchains. For example, the DeFi market allows users to access loans, with the value of the loan based on the collateral. Luxury market data from Watchsignals will allow for predictive benchmarks and offer information about the value of certain watches. This data can verify the authenticity and rarity of specific items offered as collateral in DeFi platforms. The luxury watches can therefore serve as collateral in DeFi protocols allowing o to access loans easily and also access a marketplace in case they are willing to sell.

IV. Reference point for luxury watch prices

Watchsignals will have its data on the blockchain, meaning that it is permanent and cannot be easily changed or tampered with. Luxury watches experience significant price fluctuations, which can be difficult for investors to ascertain the real value of these watches at a given time. However, Watchsignals uses AI-driven valuation tools that show the correct luxury watch data at any time. Having this data on the blockchain empowers investors with the knowledge that the luxury watch price data indicated is correct. Therefore, making investment decisions easier.

V. Synthetic assets

Watchsignals luxury watch data can also be used to make smart contracts such as synthetic assets that track the global market price of unique or rare watches. Blockchain based synthetic assets provide users exposure to different assets without the need to hold the underlying asset. By using these unique synthetic assets, investors can still hold tokens that track the value of some luxury watches.

Conclusion

Without benchmarks to correctly value luxury watch prices, it is risky for investors to trust the market price, especially since the value of luxury watches can fluctuate. The launch of Watchsignals node on Chainlink will supply developers across leading blockchains with unique and well sourced data about the luxury watch industry, which can be used to build many innovative new smart contracts use cases.

Quick Start

The WatchSignals API is organized around REST. Our API has predictable resource-oriented URLs, accepts entities as JSON request bodies, returns JSON-encoded responses, and uses standard HTTP response codes, authentication, and verbs.

Get up and running with our client libraries and start developing your WatchSignals integration.

Integrating WatchSignals into your app or website can begin as soon as you create a WatchSignals account, and requires two steps:

1. Obtain your API Key

WatchSignals authenticates your API requests using your account’s API Key. If you don’t include your API Key when making an API request, or use one that is incorrect or outdated, WatchSignals returns an error.

2. Make a test API request

To check that your integration is working correctly, make a test API request using your API Key to get all watch brands. We’ve pre-filled this code example with your API Key—only you can see this value.

$ curl -GET --header "X-API-KEY: {YOUR-API-KEY}" https://api.watchsignals.com/exchangeRates

WatchSignals returns a Brand object in response to your API request.

{
 "status": "success",
 "data": [
 {
 "id": "5",
 "name": "Aerowatch",
 "total": "1"
 },
 {
 "id": "8",
 "name": "Alain Silberstein",
 "total": "1"
 },
 {
 "id": "1",
 "name": "A. Lange & Sohne",
 "total": "168"
 },...
 ],
 "message": null
}

Authentication

The WatchSignals API uses API Key to authenticate requests. Contact our Support Team to obtain API Key. Then you should put API Key to HTTP X-API-KEY header.

Your API Key carry many privileges, so be sure to keep them secure! Do not share your API Key in publicly accessible areas such as GitHub, client-side code, and so forth.

All API requests must be made over HTTPS and HTTP. API requests without authentication will also fail.

Response data

Properties Description
status 200 The request has succeeded
4xx Codes in the 4xx range indicate an error that failed given the information provided
data Application-specific data would go here
message An error message alerts users of a problem that has already occurred

API Reference

Use WatchSignals APIs to build more complex custom applications and integrations.

Endpoint Method Description
/usageLimits GET Get API Usage Limits.
/exchangeRates GET Return exchange rates.
/search/brand POST Retrieve the uuid for a brand in our catalog

JSON body parameters:

Name Type Description
term String

A word or combination of words or characters entered into a search engine

Example Request: HTTP request

POST /search/brand HTTP/1.1
X-API-KEY: {YOUR-API-KEY}
Content-Type: application/json
Accept: application/json
Host: api.watchsignals.com
{
"term": "rolex",
}

Example Response

{
 "status":"success",
 "data":[
 {
 "brand":"Rolex",
 "uuid":"T3J5eSAmIEsaBADT",
 }
 ]
}
/search/watch POST Retrieve the uuid for a watch in our catalog

JSON body parameters:

Name Type Description
brand_uuid String

uuid of the brand to search within
ref_number String

reference number
/watch/info POST Retrieves basic information about a watch

JSON body parameters:

Name Type Description
watch_uuid String

uuid of the watch to search within
/watch/specs POST Retrieves model specifications for a watch

JSON body parameters:

Name Type Description
watch_uuid String

uuid of the watch to search within
/watch/listings POST Retrieves up to 10 recent listings for this watch from private sales sources

JSON body parameters:

Name Type Description
watch_uuid String

uuid of the watch to search within
/watch/price_1m POST Retrieves the daily price history for a watch over the last 1 month

JSON body parameters:

Name Type Description
watch_uuid String

uuid of the watch to search within
/watch/price_3m POST Retrieves the daily price history for a watch over the last 3 months

JSON body parameters:

Name Type Description
watch_uuid String

uuid of the watch to search within
/watch/price_6m POST Retrieves the daily price history for a watch over the last 6 months

JSON body parameters:

Name Type Description
watch_uuid String

uuid of the watch to search within
/watch/price_1y POST Retrieves the daily price history for a watch over the last 1 year

JSON body parameters:

Name Type Description
watch_uuid String

uuid of the watch to search within
/dealer POST List or search watch dealer

JSON body parameters:

Name Type Description
searchterm String

A word or combination of words or characters entered into a search engine

limit Int

The maximum number of search results to be returned by a request

page Int

This parameter is used to get the next 'page' of results.

Example Request: HTTP request

POST /dealer HTTP/1.1
X-API-KEY: {YOUR-API-KEY}
Content-Type: application/json
Accept: application/json
Host: api.watchsignals.com
{
"searchterm": "watch",
"limit": 60,
"page": 1
}

Example Response

{
 "status":"success",
 "data":[
 {
 "id":"1077",
 "business_name":"ABC Company",
 "country":"Hong Kong",
 "address":"This is an address",
 "phone":"0123456789",
 "email":"abc@email.com",
 "website":"https:\/\/website[.]com",
 "logo":"logo",
 "total":"6"
 },...
 }
],
 "pages":1,
 "message":null
}