Despite the Watch World’s Secrecy, Data Services Expand

Not like the patron items, beverage or retail sectors, the observe continued, there are not any massive consultancies publishing market share information on the Swiss watch sector. “That is because of the impracticality of conducting such surveys and the discreet nature of the Swiss watch trade,” it mentioned.

Maybe no model is extra discreet, nor influential, than Rolex, which continues to dominate the market. In line with Morgan Stanley’s seventh annual report, launched in February, Rolex’s share is alleged to have grown — to 30.3 % — on the power of its 2023 gross sales, estimated to have topped 10 billion Swiss francs.

But, as a result of the corporate is alleged to forbid its licensed sellers from sharing point-of-sale information with third events, Luxurious Watch Barometer’s month-to-month reviews don’t embody the model.

The Pre-Owned Sector

On the secondary market, the place Rolex is equally dominant, EveryWatch, a brand new data-driven firm, helps make clear what pre-owned watches are value and the place to purchase them.

“EveryWatch was born from a necessity,” Giovanni Prigigallo, the enterprise’s co-founder, mentioned by telephone from Cagliari, on the Italian island of Sardinia, the place he lives and works. “We created this service with the concept that there are aggregators in numerous fields like artwork, automobiles, wine, and so forth. However it was fully lacking within the watch trade.”

The corporate publishes month-to-month reviews with statistics about gross sales, aggregated by synthetic intelligence from greater than 300 public sale homes and greater than 180 marketplaces and sellers world wide. For instance, the report launched in February included particulars corresponding to the entire worth of watches within the secondary market ($9.4 billion), the Cartier that drew the biggest public sale worth that month (a Crash mannequin, for $277,200) and the mannequin that skilled the biggest worth enhance in contrast with the earlier month’s outcomes (an Omega Seamaster, at greater than 107.2 %).