Imagine your collection of watches. Your favorite pieces are likely sitting in a watch box or somewhere more secure but even less accessible, like a safe. You probably know the technical details of every watch like the back of your hand and can still remember when and where you purchased them. But do you know the current market value of your collection or how it has developed over time? Do you know which of your watches has appreciated in value since you bought it?
Now you and tens of thousands of other watch enthusiasts like you can keep an eye on the value of your watches with the help of the Chrono24 Watch Collection. Plus, with a smartphone, your collection can now travel with you wherever you go.
The Idea Behind the Watch Collection
It’s no secret that the luxury watch industry is making a transition into the digital age. Buying luxury watches online has never been easier or more prevalent. However, it has always been impossible to meet every demand of watch connoisseurs digitally – until now. It is especially exciting to track the historical value progression and current market value of pre-owned watches and vintage treasures.
It’s not just “watch nerds” who can appreciate the fact that models from major brands like Rolex, Patek Philippe, or Omega are often regarded as safe investments. Of course, profit is not the primary motivation for most passionate collectors. But don’t you also regularly check what price your watch is going for on Chrono24?
The Watch Collection takes comprehensive market data and makes it tangible and useful for watch enthusiasts. See if selling a watch would be an economically sound decision, which watch would be worth selling, and if it would perhaps be better to relocate your precious collection of watches to a safe deposit box, all at a glance. Using the Watch Collection, you can monitor the value of each individual timepiece as well as of your entire watch portfolio.
How does the Watch Collection work?
If you already have a Chrono24 account, you can find the Watch Collection here. If not, register for free here: myChrono24
Once you’re ready to add a watch to your Watch Collection, all you need to do is enter the corresponding reference number or the model. For example, if you have a Rolex Submariner 16610, click on “Add a watch” and then enter either the reference number (in this case, “16610”) or the watch’s exact name. You will instantly be presented with matching suggestions from a database of over 30,000 models.
The database is constantly being updated and is comprised of offers from the Chrono24 marketplace. Unlike other similar services, the Watch Collection covers more than just the most popular models.
As soon as you find your watch, you’ll notice that our assistant will automatically fill in its basic information in addition to adding an image of the watch. However, that’s not the whole story: To calculate the most exact estimated value possible, our assistant still needs the purchase price, year of purchase, and the watch’s condition (unworn or used/pre-owned), all of which can only be added by you! Any information that isn’t filled in automatically can be entered manually. This may include the winding mechanism, case material, etc. Once all the details are ready, it takes only a click for the algorithm to start working its magic, generating your watch’s current market value in a matter of seconds.
A Special Feature – Performance Monitoring
Since the database includes information about past offers, you will also be able to view your watches’ historical market values. You can analyze the performance of many models dating back to 2009. This can be a particularly thrilling experience for fans and collectors of pre-owned watches and vintage pieces. Travel through the past and marvel at the performance of your watch portfolio with all its highs and lows. Similar to stocks, the progress is displayed in diagrams. However, you don’t have to be interested in the stock market to enjoy this feature.
How is the value calculated?
Our comprehensive data makes all the difference. Calculating market value requires three types of data points, each with descending priority. Two points that are always involved in the appraisal are a model’s actual retail price and the prices of all the offers currently listed on our marketplace. Should this not suffice, additional models from the last 12 months are also taken into consideration. This calculation is refreshed daily to provide a representation of a watch’s performance over time. What’s more, our algorithm ignores any extraordinarily high or low sales prices to avoid inaccurate estimated values.
Personalizing Your Watch Collection
You can craft your collection into something personal and emotional with the note feature. For example, was your Daytona bought as an investment? You can enter this information as a note so you don’t forget to sell it once its value increases. Or perhaps you want to remember that you bought your watch while in Italy at a small vintage shop on the Ponte Vecchio. Add this to your notes along with a picture of your watch from your vacation to commemorate this moment in your Watch Collection. It’s a simple way to transform your Watch Collection into something more personal.
Share Your Passion
Collecting watches is a passion that connects more people than you might think. This is why you’re given the option to share your Watch Collection with others. However, you have full control over who can see your collection. Your password-protected myChrono24 account ensures no one but those you select can view your Watch Collection.
What are you waiting for? Test the Watch Collection now for free. You can delete or update your entries at any time. This tool will strengthen your bond to your own personal collection of watches.
If you already have a Chrono24 account, you can find the Watch Collection here:
If not, register for free here:
