Karlsruhe, Germany (October 20, 2023): Today, the world’s largest online marketplace for luxury watches, Chrono24, unveils its proprietary new Watch Index tool built on the hallmark of real sales data, called ChronoPulse. Access to this unparalleled data resource is free and now accessible through Chrono24’s website. The announcement of ChronoPulse comes as the company celebrates its 20 year anniversary, utilizing its two decades of historical analysis and actual selling prices to create an Index depicting sales trends and market development unlike any other.
Chrono24 uses its own anonymous 1st party sales data to drive this indexing, far surpassing the volume of sales data available from any other provider. ChronoPulse incorporates more brands, more models per brands, and more watches in general than any existing competitive service. This reduces the number of blindspots possible in a massive data set and makes the ChronoPulse model less vulnerable to bubbles/crashes, and therefore most reflective of the actual market.
When building ChronoPulse, Chrono24’s team of data scientists and industry veterans began by looking at the top 14 most important brands by their GMV contributions, also known as their trade volume. With a goal to cover upwards of 80% of the luxury watch market, ChronoPulse looks at Rolex, Omega, Patek Philippe, Audemars Piguet, Breitling, Cartier, IWC, Panerai, TAG Heuer, Tudor, Jaeger LeCoultre, Grand Seiko, Hublot and Vacheron Constantin. The 10 highest-selling and most important models from each manufacturer are included in the ChronoPulse index, 140 models in total, to start. The price index also uses a mix of new and used watches and different variants for each reference. The result is the most accurate and representative data set possible reflecting actual transaction prices – unlike other indices which focus on often unrealistic list prices, rather than the final selling prices. Over 4.6M data points influence Chrono24, the result of over 1M sales in the past 20 years, now averaging approximately 30K sales per month.
The ChronoPulse index data is updated daily, and the selection and weighting of the individual manufacturers and watch models is updated and adjusted every 6 months. Apart from a reflection of the overall market ChronoPulse launches 14 additional indices of the included brands. Furthermore, the Index will be diversified with Chrono24 set to roll out independent brand-specific indices in the coming months.
“Chrono24 has long been the default resource for watch dealers, collectors and enthusiasts seeking pricing information and value trajectories for individual references over time,” comments Chrono24 CEO, Tim Stracke. “In our 20 year history we’ve amassed a treasure trove of trusted, real data that offers an unbeatable representation of the pre-owned watch market. It’s an honor to be able to share it as a service to the entire watch industry.”
ChronoPulse joins the Chrono24 marketplace as a new tool to complement the platform’s existing and also-proprietary ‘Watch Collection’ tool that boasts more than 1.3M active users. To see the price/performance of a particular reference on Chrono24, the reference must be added to the free Watch Collection tool. There, users 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.
Chrono24 has been the global online marketplace for luxury watches since 2003. They are the #1 address for luxury watches for commercial watch dealers, private sellers and watch enthusiasts from around the world. With approximately 540,000 watches from more than 3,000 dealers and more than 40,000 private sellers, the platform boasts an average 25M users per month across 120 countries and supported by 22 languages.
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