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16.12.2019 – 15:05

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A Year in Watches: Chrono24 Analyzes the Data for 2019

A Year in Watches: Chrono24 Analyzes the Data for 2019
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- Demand for pre-owned watches is growing
- Top performers: Rolex, Audemars Piguet, Patek Philippe
- The rise of smaller cases and blue dials 

A Year in Watches: Chrono24 Analyzes the Data for 2019

Karlsruhe, Germany, 12/16/2019 - There's no denying it: 2019 was a busy year for the luxury watch industry. Demand for pre-owned watches and the stories they carry grew markedly. Chrono24, the world's leading marketplace for luxury watches, has analyzed global demand for listings on their platform in 2019. With more than 450,000 watches from over 100 countries and a transaction volume of over 1.65 billion USD, Chrono24's insights offer a detailed view of trends in the watch industry.

Part of the allure of luxury watches is their association with strong brand images. The three most popular brands among Chrono24 users in 2019 were Rolex, Omega, and Breitling. In terms of popular models, Rolex swept the podium with the Rolex Submariner, Rolex Datejust and Rolex GMT-Master II.

Thanks to high demand and limited numbers, many models from family-run businesses like Rolex, Audemars Piguet, and Patek Philippe are rare sights at brick-and-mortar shops. This has had a clear influence on the performance of steel watches in particular. According to the free Chrono24 Watch Collection tool, the market value of the Rolex GMT-Master II "Pepsi" is now almost 100% above the manufacturer's suggested retail price. Another legendary watch, the Audemars Piguet Royal Oak, has also performed well. Today, it sells for around 60% more than its retail price. Finally, the iconic Patek Philippe Nautilus currently sells for around 100% above its list price on Chrono24.

There have also been some interesting developments in terms of price. Higher price ranges have seen remarkable growth. The $11,000 to $30,000 price segment has increased by 19%, while the $30,000+ segment has grown by 35%.

"We're seeing a renaissance of mechanical luxury watches," explains Tim Stracke, founder and CEO of Chrono24. "Many people have come to value the tradition and are now looking to wear a piece of history on their wrist. Entering the luxury watch market by purchasing a pre-owned - or as I like to say, "pre-loved" - watch is an attractive option. Rather than avoiding watches with a personal history, plenty of people prefer these truly one-of-a-kind timepieces. The performance of high-end watches from family-run businesses also makes these models a sound investment - if you can find one. We recommend starting your search on Chrono24."

Chrono24's numbers confirm the global trend toward pre-owned (or "pre-loved") watches: Around 65% of watch enthusiasts are interested in pre-owned models with a story to tell.

Trends in dial color have also undergone some interesting changes. The most popular color remains classic black, accounting for almost 48% of all requests. However, second place was a bit of a surprise, with shades of blue making up around 14% of requests. That's an increase of roughly 7%. Blue was followed closely by more traditional silver (12%) and white (10%) dials.

When it comes to case size, the trend toward smaller models continues. Around 70% of all requests on Chrono24 in 2019 were for watches between 36 and 42 mm in diameter. The most popular sizes are 40 mm (28%) and 42 mm (11%).

In addition to telling the time, mechanical timepieces also offer many extra functions, known as complications. The most popular luxury watch complication is by far the date display, representing 55% of all requests on Chrono24. The chronograph (or stopwatch) takes second place with 22%, followed by the GMT function at 8%. In 2019, the GMT display saw an increase in popularity of 3%. This is likely due to many manufacturers following Rolex and Tudor's lead by releasing popular models with a second time zone.

As a global marketplace, Chrono24 is home to listings from over 100 countries. Their Escrow Service enables secure transactions across borders and between currencies. Over 70% of customers end up buying a watch from a seller outside their own country. The uncomplicated purchasing process means there's no reason to hesitate when you find that rare Rolex Submariner produced in your birth year, even if it's oceans away.

About Chrono24 GmbH:

Chrono24 - The World's Watch Market is the number one online marketplace for luxury watches. Every month, around 8 million unique visitors have access to some 450,000 watches from over 3,000 dealers in more than 100 countries, as well as approximately 30,000 private sellers (as of October 2019). Chrono24 expects a transaction volume of 1.65 billion USD in 2019. Their platform combines the largest collection of new, pre-owned, and vintage watches with a comprehensive set of services that allows both buyers and sellers to process their transactions in a trustworthy environment. Their global support team offers assistance via email or telephone in 15 different languages. Chrono24 was founded in 2003 and has more than 250 employees in offices in Karlsruhe, Berlin, New York, and Hong Kong.

Daniel Feld
Senior PR & Communication Manager
daniel.feld@chrono24.com
Phone: +49(0)721/96693-813 
Chrono24 GmbH
Haid-und-Neu-Str. 18
D-76131 Karlsruhe
Germany
www.chrono24.com