EGN NEWS DESK
Unlike the buyer items, beverage or retail sectors, the word continued, there aren’t any giant consultancies publishing market share knowledge on the Swiss watch sector. “This is as a result of impracticality of conducting such surveys and the discreet nature of the Swiss watch trade,” it stated.
Perhaps no model is extra discreet, nor influential, than Rolex, which continues to dominate the market. According to Morgan Stanley’s seventh annual report, launched in February, Rolex’s share is claimed to have grown — to 30.3 p.c — on the energy of its 2023 gross sales, estimated to have topped 10 billion Swiss francs.
Yet, as a result of the corporate is claimed to forbid its approved sellers from sharing point-of-sale knowledge with third events, Luxury Watch Barometer’s month-to-month experiences don’t embrace the model.
The Pre-Owned Sector
On the secondary market, the place Rolex is equally dominant, EachWatch, a brand new data-driven firm, helps make clear what pre-owned watches are value and the place to purchase them.
“EachWatch was born from a necessity,” Giovanni Prigigallo, the enterprise’s co-founder, stated by cellphone 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 many others. But it was fully lacking within the watch trade.”
The firm publishes month-to-month experiences 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 comparable to the whole worth of watches within the secondary market ($9.4 billion), the Cartier that drew the biggest public sale value that month (a Crash mannequin, for $277,200) and the mannequin that skilled the biggest value improve in contrast with the earlier month’s outcomes (an Omega Seamaster, at greater than 107.2 p.c).
