US actor John Travolta shows off his new Breitling watch at the launch in 2012. picture alliance / ASSOCIATED PRESS | Wong Maye-E
The luxury watch market is showing early signs of stabilization, with minimal price declines in the first quarter of 2024.
Analysis by Chrono24 shows that prices fell on average by 0.49 percent, with some brands seeing slight price increases and others seeing significant price drops.
According to Balazs Ferenczi, Head of Brand Engagement at Chrono24, this could be an indicator that prices on the secondary market for luxury watches could soon start to rise again.
The luxury watch market is showing early signs of stabilization after prices fell only minimally in the first quarter of 2024. This suggests that the bottom may have been reached. But not all watch brands have developed equally: While some brands have recorded slight price increases, others have seen their prices fall significantly.
An analysis from Chrono24, the world‘s largest online marketplace for luxury watches, provides insights that should interest potential buyers.
On average, prices for luxury watches fell by 0.49 percent in the quarter under review. This development is positive compared to the fourth quarter of 2023, where the decline was 0.97 percent, and the first quarter of 2023, when prices fell by 2.23 percent. According to Balazs Ferenczi, Head of Brand Engagement at Chrono24, this could be an indicator that prices on the secondary market for luxury watches could soon start to rise again.
But which brands suffered losses in value in the first quarter? We’ll show you this here:
Breitling: Biggest loss in value among the brands analyzed with a decline of -4.49 percent
Watches on display during a “Passion With Purpose” event with ambassador Misty Copeland, hosted by Breitling Boutique. Craig Barritt/Getty Images
Cartier: Significant loss in value of -3.47 percent
A set of four elegant wristwatches from Cartier. Cartier
Omega: Significant price reduction of -2.92 percent
A unique Speedmaster watch designed by Swiss watch manufacturer Omega. Michael Campanella/Getty Images)
Audemars Piguet: decline of -2.24 percent
A Fashion Week guest seen wearing a white dress and a silver and gold Audemars Piguet watch.
Hublot: Depreciation of -2.13 percent
Hublot exhibits the “Fame v Fortune” series. Nicholas Hunt/Getty Images
Panerai: Slight decline of -0.91 percent
A Panerai Luminor Marina watch. South China Morning Post/Getty Images
IWC: decrease of -0.38 percent
A watch from the Swiss manufacturer IWC with a chestnut brown strap. Frazer Harrison/Getty Images
Tudor: Minor loss in value of -0.16 percent
An exhibition during a 2013 Tudor watch US launch event in New York City. Brian Oh/Getty Images