What are the different markets for buying and selling a watch?
The new watch market
In the new market we only find watches that are sold in shops.
The grey market
In the grey market, there are parts that are still marketed by the different brands but are resold after purchase. The peculiarity of this market is that some models are more expensive than the prices displayed in the shop.
How can we explain this price difference between the boutique price and the grey market price? Demand on some models is much higher than supply, which explains why the price is relatively high.
We can ask ourselves another question: why does this market exist? Why do the ratings of some models explode on resale?
Manufacturers don't want to overproduce their models. In marketing, making the decision to produce little allows for supply management. Indeed, a growing demand allows them to create a craze for the models concerned. A model that is complicated to procure makes people talk about it and makes a customer want it more. These techniques lead to an explosion of prices on the grey market, which also allows brands to revalue the price of new cars upwards, and some take advantage of this to increase their prices by 5.6 or even 10%.
Thus, they increase their profits without even increasing their quality. Inflation must also be taken into account in price increases, and many brands contribute to this phenomenon: Patek Philippe, Audemars Piguet, Richard Mille, Journe watches, some Omega, Rolex, etc...
Second-hand market
On this market, we find models that are no longer marketed, which have just been released from the catalog of the various brands.
Vintage market
In the vintage market, we find pieces that have a certain life experience, and which are considered for the most part as collector's watches. The second-hand market and the vintage market are the most interesting. It is in these two markets that we get the best deals. One can find models sold by private individuals or even by some professionals at relatively reasonable prices. It takes some knowledge to know how to find good deals at the right price.
According to our analysis, the brand that is bought the most is undoubtedly the Rolex brand.
Where can you buy a watch at a reasonable price?
To choose your model correctly, you must first define what you want. That is, whether you want to make an investment in the short term, medium term, or long term.
Should I choose Chrono24 to buy a second hand watch?
When you buy a watch on Chrono24, you still need to have some knowledge in the field. On Chrono24 you can find a lot of models, tampered watches, watches that are not totally original, or fake watches... So you have to be careful.
If you plan to buy your watch on this type of platform, what we advise you, once you receive your watch, is to have it certified in order to guarantee its authenticity. This is why our certificate, the Watch Certificate, will allow you to be reassured about the authenticity of your watch.
For someone who wants to treat themselves but is not a specialist in watches, buying a watch through a professional in the sector is a huge plus, as he or she will advise you, discuss with you, and guide you through the buying process.
You could also favor auctions, but don't forget to take into account the commission that the house will take when selling the watch.
The best advice for selling your watch
Of all the ways to buy and sell your watch, the most important is to have it certified, to be sure of its authenticity. You can even update this certificate.
