Luxury timepieces from brands such as Rolex, Audemars Piguet, and Cartier have long transcended their role as elegant accessories to become legitimate investment assets. While the secondary market for luxury watches has consolidated since its peak in spring 2022, it still demonstrates an gain of 22.85 % over the past five years. These findings emerge from an analysis of the ChronoPulse Watch Index by Chrono24, the world’s leading online marketplace for luxury timepieces. Chrono24’s analysts specifically examined which brands and models have demonstrated the strongest long-term value appreciation.
Brands recording highest price appreciation
Among the 13 most coveted watch brands, ten have registered value increases over the past five years. Audemars Piguet leads this elite group, with secondary market prices surging by an average of 64.85 % between October 2019 and October 2024. For context: During the same period, Germany’s DAX index gained approximately 54 %, while shares in LVMH, the world’s largest luxury goods conglomerate, rose by around 55 %.
Another watchmaker achieved comparable performance: Timepieces from Vacheron Constantin appreciated by 52.27 % in value over the past five years. The top five brands showing the strongest value development over the last five years is completed by Cartier (+39.06 %), Patek Philippe (+33.59 %), and Omega (+27.81 %). Market leader Rolex follows in sixth position (+27.59 %).
Timepieces from Breitling (2.21 %) and IWC (1.45 %) remained virtually stable in price. Watches from Hublot (-2.99 %), Rolex’s sister brand Tudor (-9.54 %), and Panerai (-16.88 %) have actually depreciated over the past five years.
"Following the unprecedented surge during the COVID-19 pandemic, the secondary market for luxury watches has now returned to normalcy. While sudden value spikes for individual models have become rare, the market is now less influenced by speculators seeking quick profits. Instead, genuine watch enthusiasts have returned to prominence, appreciating what we call the 'double return' of a timepiece: On one hand, our analysis demonstrates that luxury watches can deliver solid returns over the long term despite current market fluctuations. On the other hand, at its best, a watch not only appreciates in value but also elevates its wearer's spirits with every glance at their wrist," explains Balazs Ferenczi, Head of Brand Engagement at Chrono24.
Most Profitable Watch Models: Cartier Claims Four Spots in Top Ten
When examining the most profitable watch models, one brand distinctly stands out: Cartier. The French luxury house appears four times in the top ten, securing positions one, two, and four. While Vacheron Constantin features three models and Audemars Piguet two models in the top ten, Patek Philippe doesn't appear until position 12, with Rolex following at position 17:
Market Expert Identifies Two Current Trends in Luxury Watch Secondary Market
Balazs Ferenczi elaborates: "The secondary market for luxury watches is currently characterized by two primary trends: First, there are the coveted steel sports watches, exemplified by the Audemars Piguet Royal Oak or the Patek Philippe Nautilus. During the Covid pandemic, these models experienced extraordinary value appreciation due to limited production capacity and soaring demand, and still command multiples of their retail prices. However, secondary market values for these models have softened somewhat over the past two years.
Conversely, design-oriented 'dress watches' with non-round cases have gained considerable momentum in recent years – notably the Cartier Santos or the Jaeger-LeCoultre Reverso. Previously undervalued in the secondary market, these models have attracted increasing numbers of collectors and enthusiasts seeking alternatives to the typically hyped sports watches. The emergence of 'Quiet Luxury' has further energized this segment. Consequently, models like the Cartier Santos now command more than double their value from five years ago.
The next five years will be particularly fascinating as we track the price development of the recently introduced Patek Philippe Cubitus – a model that bridges both aforementioned worlds. The timepiece has sparked considerable debate on social media. Time will tell whether the sceptics prevail or if the model demonstrates positive price development in the secondary market.”
Just a few weeks ago, Chrono24, the world’s largest online marketplace for luxury watches, conducted a representative survey to find out what motivates first-time buyers to make their first purchase and what they value most. The company has now analyzed its sales data to determine which watch models are purchased significantly more often by first-time buyers than by experienced collectors. The results show how much more frequently the respective model is chosen by newcomers (100% = twice as often). Chrono24 presents first-time buyers’ top ten watches.
"Brands like Seiko, Tissot, and Junghans manage to combine quality and prestige at an affordable price with their entry-level models. This makes them attractive to many people looking to buy their first luxury watch," explains Balazs Ferenczi, Head of Brand Engagement and a watch expert at Chrono24.
"While Swiss watch manufacturers generally dominate the market, first-time buyers are much more likely to choose models from brands based in other countries. With Nomos and Junghans, there are even two German companies among first-time buyers' top ten watches. However, looking at the average price paid by first-time buyers reveals why. On average, they spend €3,300 on their first luxury watch. This makes the models and brands listed here ideally suited to first-time buyers."
Kesselsdorf, September 17, 2024 – Chrono24 Direct GmbH, the renowned watch workshop of the world’s largest marketplace for luxury watches (Chrono24), has received an important seal of approval: Since August, the company has been officially recognized as a “Certified Master Watchmaker” by the German Association for Watches, Jewelry and Timekeeping (Federal Guild Association of the Watchmaking Trade). This certification serves as a brand-independent seal of quality for specialist watchmakers and confirms that repairs in Kesselsdorf are carried out by highly qualified watchmakers and master watchmakers using the latest technology and original spare parts.
Chrono24 Watch Workshop Certifies the Authenticity of Luxury Watches
Chrono24 Direct GmbH plays a central role within the Chrono24 family. Among other things, the company is responsible for Chrono24’s Certified service. Certified allows buyers to have their watches checked by a verified watchmaker for authenticity, functionality, and provenance after purchase. The service includes a theft check, an authenticity check, and a guarantee, and is indicated by the “Certified” icon on the Chrono24 marketplace. With over 60,000 certifiable watches on its platform, Chrono24 now has the largest selection of authenticatable watches in the world. Chrono24 Direct GmbH also handles the sale of watches on consignment, another important segment available to users of the marketplace.
Chrono24 Direct GmbH employs a total of 13 highly qualified watchmakers and eight other employees at its location near Dresden, not far from the German watchmaking mecca of Glashütte. The workshop is in the highly capable hands of Christopher Richter, who has nearly two decades of watchmaking experience. Patrick Schocher is Managing Director of Chrono24 Direct GmbH.
“The ‘Certified Master Watchmaker’ award is a special honor for us and a confirmation of our continuous efforts to achieve the highest quality and precision in the art of watchmaking,” says Schocher. “We’re now more motivated than ever to maintain and improve our high standards.”
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About Chrono24
“Chrono24 – The World’s Watch Market” has been the world’s leading online marketplace for luxury watches since 2003. With more than 560,000 watches from over 3,000 dealers and 30,000 private sellers in more than 120 countries, the portal reaches more than nine million unique visitors per month. Chrono24 offers a comprehensive service portfolio with a large combined worldwide range of new, used, and vintage watches. This allows buyers and sellers to complete transactions in a trusted environment. Chrono24 employs over 500 people in offices in Germany (Karlsruhe and Berlin), New York, Miami, Tokyo, Hong Kong, and other locations.
Just a few weeks ago, Chrono24, the world’s largest online marketplace for luxury watches, conducted a representative survey to find out what motivates first-time buyers to make their first purchase and what they value most. The company has now analyzed its sales data to determine which watch models are purchased significantly more often by first-time buyers than by experienced collectors. The results show how much more frequently the respective model is chosen by newcomers (100% = twice as often). Chrono24 presents first-time buyers’ top ten watches.
"Brands like Seiko, Tissot, and Junghans manage to combine quality and prestige at an affordable price with their entry-level models. This makes them attractive to many people looking to buy their first luxury watch," explains Balazs Ferenczi, Head of Brand Engagement and a watch expert at Chrono24.
"While Swiss watch manufacturers generally dominate the market, first-time buyers are much more likely to choose models from brands based in other countries. With Nomos and Junghans, there are even two German companies among first-time buyers' top ten watches. However, looking at the average price paid by first-time buyers reveals why. On average, they spend €3,300 on their first luxury watch. This makes the models and brands listed here ideally suited to first-time buyers."
Security and Trust Are Key
According to Chrono24's analysis, first-time buyers have different purchasing preferences than experienced collectors. First-time buyers are 12% more likely than experienced buyers to buy from a professional dealer.
"Perceived security plays an important role in deciding to buy," explains Balazs Ferenczi. "Newcomers often seek the expertise and reliability of established dealers to ensure that they're buying an authentic watch."
First-time buyers are also 21% more likely to buy in their own country than repeat buyers.
"This underscores the need for reassurance and ease of communication when purchasing a luxury watch for the first time," saysBalazs Ferenczi. "Local dealers can often offer more personalized service and are easier to reach with questions or problems."
"These findings are very valuable for us at Chrono24," summarizes Balazs Ferenczi. "They help us better meet the needs of watch buyers. For example, with our Chrono24 Certified service, launched in 2024, we offer an additional layer of security that creates more confidence, especially for newcomers to the world of luxury watches. Watches bearing the "Certified" seal have been checked for authenticity, functionality, and potential theft by a verified watchmaker. The range of Certified watches currently includes over 60,000 models. This is the largest selection of certified luxury watches in the world."
Luxury watches from Rolex, Patek Philippe, and other luxury watch manufacturers can be status symbols, investments, collector’s items, and more. But what really motivates people to buy a luxury watch? To answer this question, the world’s leading online marketplace for luxury watches, Chrono24, conducted a representative survey of 2,123 adults on this topic with the help of market research institute YouGov. For the first time, the survey results provide insights into what makes first-time buyers of luxury watches tick and what purchasing decisions they make. The differences between the various age groups were particularly surprising.
Many People Own or Want to Own a Luxury Watch
As the survey shows, the proportion of current and future luxury watch owners is relatively high. A total of 26% of respondents stated that they own a luxury watch or have considered buying one.
There's a clear difference between the sexes, which confirms the current predominantly male image of the industry: While 33% of men surveyed own or have considered buying a luxury watch, that number is only 19% among women. One group in particular stands out when comparing the age of respondents. At 36%, interest is especially high among people aged 18-24.
Luxury Watches Trending With Gen Z
The higher general interest in luxury watches among those surveyed in Gen Z is also reflected in specific intentions to buy. Overall, 20% of respondents between the ages of 18 and 24 said they were likely or very likely to purchase a luxury watch in the next 12 months. This figure is 11% for the population as a whole.
"Luxury watches have long had a pop cultural relevance, being sung about by hip-hop stars like Drake and Cardi B, and worn by popular actors, athletes, and musicians. In addition, the major watch brands are making a conscious effort to collaborate with trendy artists in order to appeal to the young target group. One example of this is the collaboration between Audemars Piguet and US rapper Travis Scott," explains Balazs Ferenczi, Head of Brand Engagement and a watch expert at Chrono24.
"So it's not surprising that younger people are particularly interested in luxury watches. This is yet another example of the versatility of many watch brands. Companies like Vacheron Constantin, Omega, and Patek Philippe have been around for well over 100 years and have managed to remain relevant to this day. This is unlikely to change in the future – if only because the look of many luxury watches is timeless."
What Drives Luxury Watch Buying
The question about the most important factors in the decision to buy a luxury watch supports the thesis that visual aesthetics, rather than financial considerations, play a major role in the purchase decision. For example, 50% of all respondents who own a luxury timepiece or are thinking about buying one stated that design is the most important factor for them when making a decision to buy. With 48% each, the quality of the movement and the brand were also among the most important factors. Price and value retention were among the less important factors for respondents, at 36% and 35%, respectively.
Brands Trending With First-Time Buyers
In order to gain an even better understanding of first-time buyers of luxury watches, Chrono24, the world's largest online marketplace in this segment, has also analyzed the purchasing behavior of first-time buyers on its platform. Market leader Rolex is the undisputed number one brand among first-time buyers. For example, 16.2% of men and 27.7% of women purchase a Rolex as their first watch. Among men, Omega trails with 13.7% and Seiko with 11%. Among women, Cartier (11.5%) and Omega (9.6%) are the second and third most popular choices for first-time purchases.
"Rolex watches are universally recognized as a symbol of prestige and are relatively stable in value. So it comes as no surprise that the traditional Swiss brand's models are particularly popular with first-time buyers. However, we can also say from experience that the more watch fans engage with the subject after their first purchase, the more individual their tastes become and the more diverse the brands and models they buy," adds Balazs Ferenczi, Head of Brand Engagement and a watch expert at Chrono24.
"Although we at Chrono24 are reminded every day just how many people around the world are interested in luxury watches, it was impressive – even for us – to see that more than a quarter of the adult population has already bought or is considered buying a luxury watch. Once again, this is a testament to how relevant this supposed niche market has become.
At the same time, we know that it can be particularly difficult for inexperienced first-time luxury watch buyers to distinguish a legitimate offer from a dubious one, especially since many popular models are almost impossible to buy on the primary market. At Chrono24, we not only connect luxury watch buyers with the world's largest selection of luxury watches, but we also offer authentication through the Certified service so that watch buyers can be sure they are getting their money's worth.
About the Survey
The data used is based on an online survey conducted by YouGov Deutschland GmbH, in which 2,123 people participated between July 30 and August 1, 2024. The results are weighted and representative of the German population aged 18 and over.
Karlsruhe, Germany (July 16, 2024): After signs of a possible recovery in the secondary market for luxury watches in the first quarter of 2024, Chrono24 details that overall performance fell slightly again in the second quarter. At -0.99%, the average loss in value on the secondary market is moderate, but in the same quarter of 2023, prices on the secondary market actually only fell by -0.81%, reported from a current analysis by the world’s leading online marketplace for luxury watches, Chrono24. To do this, the company evaluated its proprietary ChronoPulse watch index, the world’s only price index for luxury watches based on real sales data.
Value Fluctuations by Brand:
The slight negative trend on the secondary market for luxury watches is underlined by the fact that in the second quarter of the year only 2 brands were able to show record increases in value, while in the first quarter of 2024 and in the same quarter of the previous year this was still the case for 4 out of 13 brands within the ChronoPulse index. Between April and July of this year, only watches from Cartier (6.14%) and Breitling (1.71%) recorded an average increase in value. For TAG Heuer (-0.12%) and Omega (-0.78%), the loss in value was at least below that of the overall market.
In contrast, the prices of Vacheron Constantin (-6.31%), Panerei (-6.04%) and Hublot (3.51%) fell the most. This is followed by IWC (-2.94%), Jaeger-LeCoultre (-2.71%) and market leader Rolex (-1.74%). The value of watches from Patek Philippe (-1.47%), Tudor (-1.45%) and Audemars Piguet (-1.03%) also fell by more than one percent in the second quarter.
Watch expert: “Collectors and enthusiasts are once again the core of the market”
“Since prices within the secondary market for luxury watches have fallen continuously since March 2022 due to the changed interest rate environment and the economic uncertainties caused by the war in Ukraine, there were initial signs in the first quarter of 2024 that a bottom had been reached. While the European Central Bank recently lowered the key interest rate for the first time, this step has not yet been taken on the US market, which is extremely important for the secondary market for luxury watches. If this happens in the second half of the year, this decision should also have a positive effect on the luxury watch secondary market,” comments Balazs Ferenczi, Head of Brand Engagement at Chrono24, adding:
“In the hype phase between 2020 and 2022, the watch market was driven by opportunists who sensed a good business in buying and selling luxury watches. Passionate collectors and watch enthusiasts are now once again the core of the market. This means that at Chrono24, despite the price drop on the secondary market for luxury watches, we have not seen a decline in the transaction volume on our platform. Quite the opposite: passionate watch lovers are happy to be able to buy their favorite watches at cheaper prices and may even expect value gains in the long term. After all, the entire secondary market for luxury watches is still up more than 30% over a five-year period and is therefore performing just as well as well-known stock ETFs in the long term.”
The price development on the secondary market for luxury watches can be viewed using the ChronoPulse watch index based on real sales data at the following link: https://www.chrono24.com/chronopulse.htm
Chrono24 has been the global online marketplace for luxury watches since 2003. It is the #1 address for luxury watches for commercial watch dealers, private sellers and watch enthusiasts across 120 countries, supported by 22 languages. Users within the Chrono24 community track the value trajectories of their 3.7 million+ owned timepieces over time- regardless of whether they were purchased through Chrono24. The total value of all Watch Collections tracked within Chrono24 is more than $50 billion – which makes up 8% of the estimated $750 billion value of all the watches in the world.
About the ChronoPulse Watch Index:
The ChronoPulse Watch Index is the only watch index based on transaction data, not just supply data. Based on a points system and data from more than 600,000 transactions, ChronoPulse analyzes the performance of 14 watch brands – and over 140 watch models – with the highest transaction volume on the secondary market worldwide. As a result, ChronoPulse provides precise insights into the price development of watches since January 2019. The watch brands analyzed include Rolex, Audemars Piguet, Patek Philippe, Cartier, Hublot, IWC, Jaeger-LeCoultre, Omega, Panerai, TAG Heuer, Tudor and Vacheron Constantin. Grand Seiko watches are also included in the ChronoPulse Watch Index, although there is no separate brand index for Grand Seiko.
About Chrono24 GmbH:
“Chrono24 – The World’s Watch Market” is the world’s leading online marketplace for luxury watches. It offers the largest global selection of new, used and vintage watches combined with an extensive service portfolio, allowing buyers and sellers to complete their transactions in a trusted environment. In April 2024, the marketplace unveiled its new “Certified” Authentication Program, aiming to provide the most transparent authentication process to the luxury watch market through its global watchmaker network. Chrono24 was founded in 2003 and has offices in Karlsruhe, Berlin, New York, Miami, Tokyo and Hong Kong.
IG: @chrono24
Karlsruhe, Germany (June 4th, 2024): – Today Chrono24, the world’s leading online marketplace for luxury watches, announces that: Monaco’s Formula One racing driver, Charles Leclerc, has joined the company as investor. Leclerc who is second placed in this year’s Formula One championships and just won his home race at the prestigious Monte Carlo course now joins Chrono24 in its global expansion as both a young investor and passionate watch lover.
Charles Leclerc and his brother Lorenzo, who consults him in his entrepreneurial ventures and whom he founded a family office dedicated to athletes, All Time, together with join the likes of previous Chrono24 investors including international footballer superstar and luxury watch uber-collector, Cristiano Ronaldo (announced in July 2023), Bernard Arnault’s family investment company, Aglae Ventures, as well as General Atlantic, Insight Partners and Sprints Capital – who together led Chrono24’s Series C round in August 2021, worth 100M € – gaining marketplace with the biggest offering on luxury watches worldwide unicorn status with a valuation exceeding €1B USD. This followed Chrono24’s 2019 Series B financing of 43M € from Sprints Capital, former Richemont director Gianni Serazzi, and YOOX-NET-A-PORTER founder Alberto Grignolo, among others, as well as the company’s 37M € Series A from Insight Partners in 2015.
“We are extremely proud to welcome Charles and Lorenzo into our Chrono24 adventure,” comments Chrono24 CEO Carsten Keller. “These brothers are highly esteemed and share our passion for watches as well as our company’s drive for excellence. Their savvy is formidable, and together, we are poised to reach new heights.”
“The watch world has long captivated me as one of my many passions,” says the world-renowned driver, Charles Leclerc. “There’s a real unification between watch lovers around the world, and my brother and I are excited to be an even deeper part of that community through our investment involvement with Chrono24.”
“The idea of a sporting legend like Charles Leclerc joining Chrono24 as an investor is thrilling,” adds Chrono24 founder and Chairman of the Board, Tim Stracke, who fostered the Formula One driver’s investment when they began the conversation as avid watch enthusiasts in 2022. “He has achieved an incredible legacy already very early in his life, and his prowess as a young investor is a great example of his passion for performance.”
Chrono24 has been the global online marketplace for luxury watches since 2003. It is the #1 address for luxury watches for commercial watch dealers, private sellers and watch enthusiasts across 120 countries, supported by 22 languages. Users within the Chrono24 community track the value trajectories of their 3.7 million+ owned timepieces over time- regardless of whether they were purchased through Chrono24. The total value of all Watch Collections tracked within Chrono24 is more than $50 billion – which makes up 8% of the estimated $750 billion value of all the watches in the world.
About Chrono24 GmbH:
“Chrono24 – The World’s Watch Market” is the world’s leading online marketplace for luxury watches. It offers the largest global selection of new, used and vintage watches combined with an extensive service portfolio, allowing buyers and sellers to complete their transactions in a trusted environment. In April 2024, the marketplace unveiled its new “Certified” Authentication Program, aiming to provide the most transparent authentication process to the luxury watch market through its global watchmaker network. Chrono24 was founded in 2003 and has offices in Karlsruhe, Berlin, New York, Miami, Tokyo and Hong Kong.
About Charles Leclerc:
The Monégasque 26 year-old, Charles Leclerc, currently races for Scuderia Ferrari in Formula One, and was recognized globally for having won the GP3 Series championship in 2016 and the FIA Formula 2 Championship in 2017 before joining Formula One in 2018 with Sauber. A youthful sensation in the racing world, Leclerc went on to join the Ferrari team in 2019, and became the youngest driver to win Belgium’s Pole Trophy for the most pole positions in 2019, and the second youngest driver to qualify on pole position in Formula One at the 2019 Grand Prix.
Introducing the ChronoPulse – Watch Index Report: A look at the secondary market for luxury watches in Q1 2024
Karlsruhe, April 30, 2024. Many luxury watches are purchased not only for their looks and functionality, but also for their ability to hold their value over time. That’s why Chrono24, the world’s leading online marketplace for luxury watches, analyzes the performance of the secondary market for luxury watches on a quarterly basis. To do so, the company evaluates the developments of their in-house ChronoPulse watch index. It’s the world’s only luxury watch price index based on actual sales data. The secondary market for luxury watches showed some signs of recovery in the first quarter of 2024.
Is the secondary market for luxury watches stabilizing?
Overall, prices for luxury watches fell by 0.49% between January 1 and March 31, 2024. Looking at the previous quarter and the same period last year, this is a positive development, considering that luxury watch prices fell by 0.97% in Q4 2023 and by 2.23% in Q1 2023. Moreover, prices for watches from 4 of the 14 brands analyzed by Chrono24 actually rose in the first quarter of the year.
Timepieces from Jaeger-LeCoultre experienced the greatest increase in value (+3.97%). Patek Philippe (+0.41%), TAG Heuer (+0.34%), and Rolex (+0.26%) also showed positive performance across the first quarter of 2024.
Historically, this is also part of a positive trend. In the fourth quarter of 2023, the only watches to increase in value on the secondary market were those from Cartier (+2.31%), Omega (+1.41%), and Breitling (+1.39%). In Q1 2023, this could only be said for two brands, namely Jaeger-LeCoultre (+1.85%) and Omega (+0.52%).
Industry Experts: The Market May Have Bottomed Out
“Prices in the secondary market for luxury watches rose for about two years after the start of the coronavirus pandemic, before slowing in the spring of 2022 and falling since then. We may have now reached the lowest point, given the near stagnation of prices in Q1 2024, as seen in our ChronoPulse watch index,” explains Balazs Ferenczi, Head of Brand Engagement at Chrono24, adding, “It remains to be seen whether we’ll see an upward trend in coming weeks. There are already a few positive signs in this regard, as prices for more than 40% of popular models rose in the first quarter of this year. The watch market could also get a further boost if central banks in Europe and the US cut key interest rates. Chrono24 has recently seen increased demand for luxury watches on the platform. We even set a new record for transactions on our marketplace in Q1 2024. This could also be a sign that watch enthusiasts are speculating that prices will rise again, and thus are getting their dream watch at a potentially lower price.”
Breitling, Cartier, and Omega: Largest Drops in Value
While there were some positive price trends in the secondary market for luxury watches, by the end of the first quarter, the purchase prices of more than two-thirds of the watch brands analyzed were still down compared to January 2024. The greatest loss was seen by Breitling (-4.49 percent). However, watches from Cartier (-3.47%), Omega (-2.92%), Audemars Piguet (-2.24 percent), and Hublot (-2.13%) also decreased in value by over 2 percent in Q1 2024.
Prices for brands like Panerai (-0.91 percent), IWC (-0.38%), and Tudor (-0.16%) likewise fell, albeit only slightly. “We can’t rule out the possibility that price developments for these brands will turn positive again in the next two quarters. If so, this would be the first time since 2022 that more than half of all brands in the ChronoPulse Index would be in the black. We will of course be tracking to see whether this actually happens,”explains Balazs Ferenczi.
Watches With the Best Performance in Q1 2024
Among the watches that increased most in value on the secondary market are two Cartier models. The Cartier Panthère enjoyed a 19.51% jump in value in the first quarter of the year, while prices for the Cartier Santos rose by 18.25%.
Six other models also increased value by more than 15%. These include the Breitling Navitimer (+18%), Jaeger-LeCoultre Reverso Grande Taille (+17.57%), TAG Heuer Monaco Gulf (+16%), Panerai Luminor Marina 1950 3 Days (+15.92%), Hublot Big Bang (+15.9%), and Grand Seiko Heritage Collection (+15.54%). Market leader Rolex doesn’t appear on the list of watches with the highest increases in value on the secondary market until place 13: Prices for the GMT-Master II “Pepsi” rose by 9.94% in Q1 2024.
You can track price trends on the secondary luxury watch market using the ChronoPulse Watch Index, which is based on real sales data: https://www.chrono24.com/chronopulse.htm
About the ChronoPulse Watch Index
The ChronoPulse watch index is the only watch index based on actual sales data, not just listing data. Based on a points system and data drawn from more than 600,000 transactions, ChronoPulse analyzes the performance of more than 14 watch brands – and 140 individual models – with the highest transaction volume on the secondary market. As a result, ChronoPulse provides accurate insights into the price performance of watches since January 2019. In addition to Rolex, Audemars Piguet, and Patek Philippe, the index includes watches from Cartier, Hublot, IWC, Jaeger-LeCoultre, Omega, Panerai, TAG Heuer, Tudor, and Vacheron Constantin.
About Chrono24
“Chrono24 – The World’s Watch Market” has been a leading global online marketplace for luxury watches since 2003. With over 560,000 watches from over 3,000 dealers and 30,000 private sellers in more than 120 countries, the portal reaches more than nine million unique visitors per month. Chrono24 offers a comprehensive service portfolio with a wide and global range of new, used, and vintage watches. This allows buyers and sellers to complete transactions in a trusted environment. Chrono24 employs more than 500 people in its offices in Germany (Karlsruhe and Berlin), New York, Miami, Tokyo, Hong Kong, and other locations.
Karlsruhe, Germany (April 9th, 2024): Today, the world’s largest online marketplace for luxury watches, Chrono24, unveils its new “Certified” Authentication Program, aiming to provide the most transparent authentication process to the luxury watch market through its global watchmaker network. Chrono24 shoppers can now choose their dream watch from an unsurpassed selection of certified authentic pre-owned watches, trusting fully in the absolute promise that the watch they found will be the watch they receive. Every Chrono24 “Certified” watch will receive an evergreen digital Certificate of Authenticity, providing an invaluable, lasting footprint for these analog timepieces. Certified is now live across Europe, with its rollout in the United States scheduled for later in the second quarter.
Chrono24’s “Certified” program will be available for pre-owned watches priced above 1,000€, from both professional and private sellers. The certification includes a comprehensive authenticity check of a purchaser’s watch, box and papers, along with a certificate of authenticity bearing an authenticity guarantee. A green “C” icon is now visible on listings within Chrono24’s digital platform signifying a watch’s certification standing: whether it has already been officially certified, or if certification is available as an add-on option.
“Since 2003 Chrono24 has been dedicated to continuously building and improving the trust buyers feel when they shop on our platform. This has been a guiding priority across the past two decades, and we won’t ever slow down,” comments Chrono24 CEO, Dr. Carsten Keller. “We are proud to offer the world’s largest marketplace for luxury watches, now the largest selection of certified watches from professional and private sellers and the most transparent authentication service on the luxury watch market. To shop carefree and solely focused on the passion for watches is exactly what our new “Certified” program delivers.”
How it Works:
A timepiece can earn Chrono24’s “Certified” status in two ways. Primarily, the watch can be “certified included” by an experienced, vetted, and regularly audited watchmaker who is geographically close to the rigorously-vetted dealer and contracted by Chrono24, prior to its listing and at no charge to the purchaser. Alternatively, a timepiece sold by a private seller can be Certified by Chrono24 by a watchmaker in a certification center, before it arrives to the purchaser, fully protected. This optional service bears a convenience charge of 199€ and includes the insured postage charge with a 2-5 business day turnaround time.
Verified Watchmakers meticulously check the watch through a comprehensive checklist and a standardized authentication process including a Theft Check, where the serial number is checked against leading stolen watch databases; a Functionality Check including an overall check of complications, winding, chronograph, etc. which requires opening the case back; an Authenticity Check which ensures it meets the Chrono24 definition of authenticity*; and a review of its box and papers (if included in the sale) to validate they match the reference. (These vetted watchmakers are also given exclusive access to Chrono24’s renowned network of “fake experts” – an industry-leading global team with top knowledge and resources to aid in verification.) A Certificate of Authenticity is then generated which comments on the condition of the watch and any aftermarket parts, and if there are any differences between the listing and the watch itself, Chrono24 will reach out to the purchaser so that they may decide if they wish to proceed with the purchase.
*For a detailed description of Chrono24’s stringent conditions for authenticity, click here
For every single timepiece on Chrono24, regardless of additional Certified status, watch collectors can still be assured that their purchases are fully protected through the platform’s existing “Buyer Protection” program. This program allows users to trust that Chrono24 will keep them safe until they are satisfied. Watch listings on Chrono24 are checked by internal watch experts as part of the platform’s ongoing “Authentication Protection” commitment. Additionally, payment is held in escrow until the shopper confirms they are happy with the purchase, within 14 days if bought from a professional seller/dealer or 7 days if bought from a private individual. Should a watch arrive not as the seller described, the recipient has 14 days to initiate a return and receive their money back.
Chrono24 has been the global online marketplace for luxury watches since 2003. It is the #1 address for luxury watches for commercial watch dealers, private sellers and watch enthusiasts across 120 countries, supported by 22 languages. Users within the Chrono24 community track the value trajectories of their 3.7 million+ owned timepieces over time- regardless of whether they were purchased through Chrono24. The total value of all Watch Collections tracked within Chrono24 is more than $49.7 billion – which makes up almost 7% of the estimated $748 billion value of all the watches in the world.
About Chrono24 GmbH:
“Chrono24 – The World’s Watch Market” is the world’s leading online marketplace for luxury watches. The largest global offering of new, used and vintage watches combines Chrono24 with an extensive service portfolio, allowing buyers and sellers to complete their transactions in a trusted environment. Chrono24 was founded in 2003 and has offices in Karlsruhe, Berlin, New York, Miami, Tokyo and Hong Kong.
IG: @chrono24
New report is designed to amplify powerful female voices in the watch industry & draw analyses from the platform’s significant 25% female usership
Karlsruhe, Germany (March 8, 2024): Today, the world’s largest online marketplace for luxury watches, Chrono24, releases a new Insight Report featuring an in-depth look at the female market, timed with the global recognition of International Women’s Day on March 8th. Following an upward trend in recent years, Chrono24 now reports that more than 25% of its active users identify as female, with this growth signaling a positive shift within industry norms. Chrono24’s new Insight Report not only reflects of-the-moment consumer behavior trends from women watch enthusiasts; it also amplifies the voices of key female leaders within the watch community.
“Our dedication to the women in our community is a core part of Chrono24’s mission. We are focused on advancing our platform to better serve and represent women, as we continue to lead with innovative and progressive practices,” comments Chrono24 CMO,Vicky Hallbauer.
As female engagement within the marketplace continues to be championed and expanded, Chrono24 is particularly well-suited to analyze data-backed trends based on its reach of 9 million global users per month. With more than 560,000 watches from over 35,000 professional retailers and private sellers, Chrono24 has successfully facilitated over a million watch transactions since its inception in 2003. Current findings follow:
Brands Favored by Women
A deep dive into Chrono24’s data trove draws some notable comparisons between brands’ market shares among female buyers versus their market shares among male buyers. In this ranking of brand strength based on ability to attract female customers, Chanel takes the number one spot, followed by Chopard, Cartier and Bulgari. The preference for Cartier watches among women is strikingly higher, with its market share being more than triple that among male consumers. And within the consummate behemoth of Rolex, Chrono24’s foremost leader platform-wide and not specific to gender: for women, almost one in three watches purchased is a Rolex and more than half of the money spent is spent on a Rolex.
The Unisex Conversion Continues
Over the past five years, there has been a noticeable increase in the popularity of larger watches (40mm and above) among Chrono24’s female customers, indicating a shift towards styles traditionally dominated by men. This trend towards larger watches among women is reciprocated on the other side, with men increasingly favoring smaller case sizes. This embrace of gender-neutral fashion statements by celebrities are contributing to the blurring of lines between traditionally gender-specific styles, reflecting a broader move towards gender inclusivity in fashion. This trend is illustrated by the fact that 32% of female purchases on Chrono24 were for a 40mm watch, or larger, representing a significant 67% increase among women towards buying watches with case diameters 40mm and up.
More than a Movement
While quartz movements power half of the women’s watches in our inventory, a closer examination reveals a marked preference for automatic movements among female purchasers. This discrepancy raises questions about the alignment of product offerings with female consumer preferences or whether practical considerations, such as case size, influence this trend. Classic women’s watches, often powered by Quartz, will always maintain their relevance, especially within the mainstream, but it is essential to reassess product offerings to ensure they resonate with contemporary tastes and needs. As an illustration, Chrono24 reports that 68% of Cartier watches purchased by women are equipped with quartz movements. Additionally, women are nearly twice as likely to opt for watches powered by quartz movements on Chrono24. Yet, compared to other countries, women in the United States exhibit a markedly higher tendency to purchase watches with automatic movements.
Aesthetic Trends
The latter half of the 20th century saw stainless steel emerge as the dominant material in luxury watch manufacturing. However, Chrono24’s data indicates that women are over twice as likely to select watches encased in or embellished with precious metals compared to men. Furthermore, women display a greater openness to exploring non-traditional, angular case shapes, suggesting a more adventurous approach to watch aesthetics.
Chrono24 has been the global online marketplace for luxury watches since 2003. It is the #1 address for luxury watches for commercial watch dealers, private sellers and watch enthusiasts across 120 countries, supported by 22 languages. Users within the Chrono24 community track the value trajectories of their 3.7 million+ owned timepieces over time- regardless of whether they were purchased through Chrono24. The total value of all Watch Collections tracked within Chrono24 is more than $49.7 billion – which makes up almost 7% of the estimated $748 billion value of all the watches in the world.
About Chrono24 GmbH:
“Chrono24 – The World’s Watch Market” is the world’s leading online marketplace for luxury watches. The largest global offering of new, used and vintage watches combines Chrono24 with an extensive service portfolio, allowing buyers and sellers to complete their transactions in a trusted environment. Chrono24 was founded in 2003 and has offices in Karlsruhe, Berlin, New York, Miami, Tokyo and Hong Kong.
IG: @chrono24