Chrono24 Launches ChronoPulse: The First Luxury Watch Market Index Founded On Real Transaction Data
What better way to celebrate your 20th anniversary or birthday than by buying yourself a new watch? In the case of Chrono24 turning 20, the company decided to mark the occasion by launching the first luxury watch market index founded on real transaction data. Today, Chrono24 launches ChronoPulse. With two decades of historical analysis under its belt and the implementation of actual selling prices, Chrono24 created an index that can depict sales trends and market developments. Better yet, this data resource is free and accessible through the Chrono24 website. So if you’re shopping for a new, pre-owned, or vintage (celebratory) watch, have a look at what other people are buying, then buy what you like.
Since Chrono24 was founded 20 years ago, it has grown to become the world’s leading online marketplace for luxury watches. On the site, you will find the largest global offering of new, used, and vintage timepieces. But I don’t have to tell you that, do I? You’re already aware and have probably bought a watch or two on Chrono24. What the company has gained over the last two decades is not only experience but also valuable data. Now Chrono24 is using its anonymous first-party sales data to drive the indexing on ChronoPulse. As you would imagine, being the largest online seller, the volume of sales data available is unrivaled by any other provider.
Chrono24 launches ChronoPulse
ChronoPulse incorporates more brands, more models per brand, and more watches in general than any existing service. The advantage of having so much data is that it reduces the number of possible blind spots. This makes the ChronoPulse model less vulnerable to bubbles/crashes and, therefore, most reflective of the actual market. When building ChronoPulse, Chrono24’s team of specialists began by looking at the top 14 most important brands by their GMV (Gross Merchandise Value) contributions. The goal was to cover over 80% of the luxury watch market. Therefore, ChronoPulse looks at Rolex, Omega, Patek Philippe, Audemars Piguet, Breitling, Cartier, IWC, Panerai, TAG Heuer, Jaeger-LeCoultre, Grand Seiko, Hublot, Vacheron Constantin, and Zenith. After that, the 10 highest-selling and most important models from these manufacturers are included in the ChronoPulse index. Simple math leads to 140 models in total to start with.
The price index also uses a mix of new and used watches and different variants for each reference. This results in the most accurate and representative data set possible, reflecting actual transaction prices. Crucially, unlike other indices that often focus on unrealistic list prices, the ChronoPulse index is based on final selling prices.
Daily updates
The watch world may be old, but it moves fast nowadays. That’s why ChronoPulse’s index data will updated daily, and the selection and weighting of the individual manufacturers and watch models will be updated and adjusted every six months. Furthermore, the index will be diversified, with Chrono24 set to roll out independent, brand-specific indices (for Rolex, Audemars Piguet, and others) 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,” says 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, a new tool to watch and use
The ChronoPulse index is a new tool that you can use on the Chrono24 website. The index complements the proprietary Watch Collection tool that already boasts more than 1.3 million active users. Using ChronoPulse is easy and intuitive too. 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. And that’s regardless of whether they were purchased through Chrono24. The total value of all Watch Collections tracked within Chrono24 is more than US$49.7 billion. That number makes up almost 7% of the estimated US$748 billion value of all the watches in the world.
Do these numbers dazzle you? Maybe it’s best to visit Chrono24 and find out what ChronoPulse can do for you.
