The secondary market for luxury watches is estimated to be worth anything from $5 billion to $15 billion per year.
Chrono24's Big Data gives us a crystal ball to see how Coronavirus affects the behavior of consumers and dealers.
Secondary Market
Germany-based Chronext says it has secured a path to profitability with the additional venture capital cash injection.
Brand president Thierry Stern says he will act if retail partners are caught selling watches to known secondary market traders.
Wholesaler has been trading in pre-owned, authenticated luxury watches, and is growing its expanding its Global Affiliate Program.
What right do watchmakers have to punish people who resell their prized posessions?
Investment will be used to help secondary market platform "shape the future of the online luxury watch industry," CEO Tim Stracke says.
The Netherlands is a hotspot for pre-owned watch ecommerce sales, with annual turnover for businesses based there worth around $1 billion, Xupes research estimates.
Omega's 2019 Speedmaster Moonwatch Anniversary Limited Edition Series, with a production run of 6,969 pieces, is already being listed on Chrono24 for around $14,000 — 45% above recommended retail price.
A capsule collection of the world's hottest steel sports watch goes into a four-day sale starting this week.