Sunday, December 10, 2023

Chrono24 Unveils Unprecedented Watch Index Tool, ChronoPulse


The new tool, accessible for free on Chrono24’s website, leverages real sales data to provide what it says is an unparalleled view of the luxury watch market based on its two decades of historical analysis and actual selling prices. This data-driven index relies on Chrono24’s substantial first-party sales data, which it says surpasses the volume of data available from any other source. That includes a wider range of brands, models, and watches, minimizing data blind spots and enhancing its accuracy.

ChronoPulse was designed by a team of data scientists and industry experts focused on the top 14 brands by their trade volume (GMV contributions). This selection, which includes Rolex, Omega, Patek Philippe, Audemars Piguet, Breitling, Cartier, IWC, Panerai, TAG Heuer, Tudor, Jaeger LeCoultre, Grand Seiko, Hublot, and Vacheron Constantin, aimed to cover over 80 percent of the luxury watch market.

Chronopulse Index
The Chrono Pulse Index in action | Courtesy

The ChronoPulse indexes the ten highest-selling models from each of these manufacturers, resulting in a dataset of 140 models. This data combines both new and used watches, along with various variants for each reference, ensuring that it reflects real transaction prices rather than unrealistic list prices. In total, ChronoPulse relies on more than 4.6 million data points, stemming from one million sales over the past two decades, averaging approximately 30,000 sales per month.

One key feature of ChronoPulse is its daily data updates, providing real-time insights into the luxury watch market. The selection and weighting of manufacturers and watch models are adjusted every six months to maintain accuracy. Additionally, Chrono24 plans to introduce independent brand-specific indices in the near future, diversifying the index further.

“Chrono24 has long been the default resource for watch dealers, collectors, and enthusiasts seeking pricing information and value trajectories for individual references over time,” Chrono24 CEO Tim Stracke, said in a statement. “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.”

Chrono24 CEO Tim Stracke with Cristiano Ronaldo
Chrono24 CEO Tim Stracke with Cristiano Ronaldo | Courtesy

ChronoPulse is the latest addition to Chrono24’s platform, complementing the existing ‘Watch Collection’ tool, which boasts more than 1.3 million active users. To access price and performance data for a specific watch reference on Chrono24, users can add the reference to the free Watch Collection tool. This tool allows users to track the value trajectories of their 3.7 million+ owned timepieces over time, regardless of whether they were purchased through Chrono24. The total value of all Watch Collections tracked within Chrono24 exceeds $49.7 billion, contributing to almost seven percent of the estimated $748 billion value of all watches worldwide.

In July, soccer legend Christiano Rinaldo announced an investment into Chrono24 through his company, CR7 SA.

 “As a long-term watch collector and regular user of Chrono24, it’s a pleasure for me to become a shareholder in the company now,” Rinaldo said in a statement. “Chrono24 unites millions of watch lovers from all around the world to share in their passion, together – that global unification is something I know well and am thrilled to be a part of.”

Its not just secondhand watches garnering celebrity attention. Earlier this month, actor Leonardo DiCaprio invested in the sustainable Swiss watch company, ID Genève, as part of a $2 million Seed funding round.

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