The luxury watch market is undergoing a major transformation thanks to the emergence of innovative data analysis platforms. These revolutionary tools promise to revolutionize the way collectors evaluate and acquire their precious timepieces. Let's dive into this fascinating universe where technology meets prestigious watchmaking.
The meteoric rise of the second-hand watch market
The pre-owned watch sector is booming. The forecasts are impressive:
This spectacular growth is largely explained by the democratization of access to online price histories. Buyers and sellers can now transact transparently, with a clear view of the fair market value of coins.
The data revolution in the watchmaking world
The emergence of new data-driven analytics platforms promises to amplify this dynamic even further. These tools provide valuable insights into price developments, allowing collectors to:
Let's take a detailed look at three of these innovative platforms that are revolutionizing the market.
EveryWatch: artificial intelligence at the service of watchmaking
Launched last November during Dubai Watch Week, EveryWatch stands out for its extensive use of artificial intelligence. This platform offers:
Giovanni Prigigallo, co-founder of EveryWatch, explains: โOur goal is to bring more clarity to the market. With clarity comes stability and price consolidation, which is currently lacking. ยป
EveryWatch's database is impressive:
Artificial intelligence plays a crucial role in eliminating unusually high results, often from charity sales, which could skew the data.
WatchCharts: when passion meets technology
WatchCharts was born from its founder, Charles Tian's passion for watches. While working at IBM, he began tracking price movements in a simple spreadsheet. This personal initiative turned into a thriving business.
Hamza Masood, head of business development, emphasizes: โWe do not consider ourselves a traditional watch company. We are first and foremost a technology company. Our core service is to provide data and insights into the watch aftermarket. ยป
WatchCharts offers different packages:
The platform stands out for its ability to model prices based on multiple variables:
ChronoPulse: the power of Chrono24 data
ChronoPulse, launched last fall by the famous Chrono24 platform, is a free watch price analysis tool. It draws on the impressive database accumulated by Chrono24 over its 20 years of existence.
The ChronoPulse index is based on:
Tim Stracke, CEO of Chrono24, says: โChrono24 has long been the reference for dealers, collectors and enthusiasts looking for information on prices and changes in value of different references over time. Over 20 years, we have accumulated a treasure trove of reliable data that offers an unrivaled representation of the pre-owned watch market. ยป
The ChronoPulse index incorporates more than 4.6 million data points and is updated daily. The selection and weighting of specific brands and models is adjusted every six months.
The importance of condition and provenance
While these analysis tools provide valuable insight into market trends, it is crucial to keep in mind that every watch is unique. Condition and provenance can have a significant impact on the value of a piece, particularly for vintage and neo-vintage watches.
Several categories can be distinguished:
These variations can result in significant price deviations from market averages.
To conclude, these new watch market analysis tools offer collectors a wealth of valuable information. They allow you to make more informed buying and selling decisions, while keeping in mind that each watch has its own story and intrinsic value.
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