The Swiss watch industry can trace its history back to the mid-16th century and, it is reasonable to say, its opacity has been a fundamental pillar of operations in all but the past few years.
Until very recently, you could not even find out the price of any new Rolex or Patek Philippe online, and that is still the case in some markets.
The web-based secondary market has brought much-needed transparency into supply (monitor the rise and fall of volumes on marketplaces) and demand (the speed watches sell is an indicator); and the immutable impact on prices of these market forces.
A new player, EveryWatch, launched last year with a promise to provide the market price of any watch reference, vintage or contemporary, by using using artificial intelligence to mine and analyse data from more than 250 auction houses and 150 online marketplaces and dealers.
The company said it could help watch lovers find prices for more than 500,000 watch references that have been sold or advertised.
More data feeding into a single source improves the accuracy and breadth of that information, which may be the reason behind EveryWatch acquiring its main rival in the auction data space, WatchAuctionHQ.com.
“This strategic merger represents a significant milestone for both companies, aligning their shared vision of transparency and empowerment within the watch collecting community,” a spokesperson for EveryWatch says.
Although EveryWatch instigated the deal, it is being championed from both sides, particularly by Marc Montagne, founder of WatchAuctionHQ.
“When I met the EveryWatch team, I was instantly impressed by their product,” says Mr Montagne. “What has been achieved is truly remarkable and I have no doubt that EveryWatch will very quickly establish itself as an indispensable resource for watch industry professionals and collectors alike.”
