Despite the Watch World’s Secrecy, Data Services Expand

Not like the patron items, beverage or retail sectors, the observe continued, there aren’t any massive consultancies publishing market share knowledge on the Swiss watch sector. “That is as a result of impracticality of conducting such surveys and the discreet nature of the Swiss watch trade,” it stated.

Maybe no model is extra discreet, nor influential, than Rolex, which continues to dominate the market. In response to Morgan Stanley’s seventh annual report, launched in February, Rolex’s share is alleged to have grown — to 30.3 p.c — 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 approved sellers from sharing point-of-sale knowledge with third events, Luxurious Watch Barometer’s month-to-month studies don’t embrace 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 price and the place to purchase them.

“EveryWatch was born from a necessity,” Giovanni Prigigallo, the enterprise’s co-founder, stated 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, vehicles, wine, and many others. But it surely was utterly lacking within the watch trade.”

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