I don’t have to introduce you to Chrono24, world’s largest on-line market place for watches. Some watch brands might hate it, but most consumers love it. Other brands see the value of Chrono24 and the massive attraction it gets from millions of users each month, and started a cooperation with them by offering their watches via a special landing page on Chrono24. Frederique Constant, Linde Werdelin and Porsche Design for example, offer their watches directly via the Chrono24 Brand Boutique.
Tracking Your Watch Collection
Besides being a market place where you can buy and sell new and pre-owned watches, Chrono24 also offers a new feature called ‘Watch Collection’. This will keep track of the financial performance of your purchases, based on the +300.000 watches that are currently being offered on Chrono24. So, let’s say you’ve purchased a new Breitling Navitimer reference A13322 in 2000, Chrono24 will give you an estimate of today’s value (and bandwidth), show the growth (or decline) in percentages and the ‘performance’ of the watch, being positive or negative. By adding your entire collection for example, you will see the same information you get per watch individually, but totalized. So the estimated value of your collection basically, could be useful to remind you that you either need a safe, an extra insurance or to sell something ;-).
To be honest, besides the tracking of the total estimation of the value of your watch collection it isn’t of much interest for people that just bought a new watch last month. In the long term, it definitely is useful though. I have been purchasing watches since the 1990s and it is quite interesting to track certain pieces that I lost track of as they become a bit of safe queens. If you have only one watch, it is fairly easy to sort out manually as well, using the filters on the Chrono24 results.
How Does It Work?
It is actually rather simple. The Watch Collection feature uses the reference number of the watch to match it to current offers of that exact same watch on Chrono24. Based on the offers, it calculates the average price of today’s offers of all watches with that reference number. Of course, even though you have to enter whether it is a new or pre-owned watches, condition does have a lot of influence on the price, so that’s why it gives you an average. It also doesn’t ask about box and papers for example, or accessories. So it gives an estimate of the value. Because you also have to enter when you bought it and how much you paid, it also calculates the trend (increase or decrease in value) and the performance in valuta. I think that’s what most people are interested in anyway, the current value and whether you did good (or not).
The only thing you will need is a registration on Chrono24 to get access to the (private) MyChrono24 section of the website. This is your own personal page, to which no-one else has access. So no other users can access your ‘Watch Collection’, see the value of your entered collection etc. You can also add some details about the watch, in a free text field, to remind yourself that this watch was bought from a certain dealer or person, that you have it complete with box, extra bracelet etc. This doesn’t mean anything for the calculations though.
Sure, you can do this yourself. Put your watches in an Excel sheet and keep track of the original purchase date and price and keep track of current offers using the filters on Chrono24, but it is quite a bit of work if you have a bit of a collection of watches. You have to decide whether you can get used to the idea of putting this kind of information on a website (behind a password) or rather keep it to yourself in an Excel sheet. The nice thing about Chrono24 Watch Collection is that you can either add images yourself, and if you don’t, they grab an image of a watch with the same reference number. Also, doing the registrations on Chrono24 is very easy to do (it doesn’t even take a minute per watch) and gives you results immediately. Just make sure you are using a strong password (you should always do this). As soon as Chrono24 detects attempts or faulty logins, you will be asked for a validation code that has been sent to your mobile number. So Chrono24 takes security very seriously.
Just give it a try, you don’t have to enter your entire watch collection at once of course. You can delete or edit your entries at all time.
Go www.chrono24.com and login (or register) to get access to Watch Collection.