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Exploring the World of Watch Collections on Chrono 24
Time is money and in the world of watches, the plot is always ticking and money is always moving. With over 1.3 million users and more than 3.7 million watches registered, Chrono 24 has an extensive watch collection dataset, comprising approximately six percent of watches worldwide by value, with a watch collection value of roughly 42 billion euros. In this article, we will take an in-depth look at our extensive watch collection data set and uncover three signs of the times for March 2023.
Changing Watch Collection Values in a Country by Country Comparison
We will start our analysis with a look at changing watch collection values in a country by country comparison. We analyzed watch collection values around the world to uncover which country’s collectors have fared the best financially. Hong Kong collectors on Chrono 24 have the highest median watch value, at 77 and a half thousand Euros, of any country. However, they have lost 9.2 percent in market value over the last year but gained 38 percent on average from the time of purchase to the present. This follows the general trend for high-priced watch collections, whether you’re in Dubai, Tokyo, or the United Arab Emirates (UAE), which comes in at number two for average individual collection value.
Expensive watches shot up the most in price but also have the most to lose at this moment. Those collectors still have good reason to celebrate with 30 to 40 lifetime profits on average. American collectors on Chrono 24 own 6.2 watches per person. They are 4.2 percent in the red compared to March of 2022 but in the Black by 31 in lifetime value. This is a fairly sunny picture when compared to stock market values during the same period.
Most Collected Watches by Chrono 24 Users
If you want to know which are the top 10 watch brands that are the most collected by Chrono 24 users, we have that information for you too. This is great information if you’re looking to resell easily or if you want a watch that stands out from the crowd.
Real Watch Brand Preferences by Country and Cultural Factors Influencing Them
Finally, you may think Italians buy Panerai, the French buy Cartier, and the Japanese love Grand Seiko, but the data tells us otherwise. Stick around to find out the real watch brand preferences by country and what cultural factors may influence brand preference.
Expert Opinion on the Watch Market
For some outside expertise on the topic of watch collections, we brought in special guest Dr. Brendan Cunningham, a professor of Economics at Eastern Connecticut State University. He has been teaching and publishing in the field of Economics for over 10 years and has been writing about the watch industry in recent years.
Dr. Cunningham is a unique position to discuss how the watch market fits into the global economic picture. Watches have become commodities over the last few years, and there have been a lot of ups and downs in the markets. In recent years, watches have been seen as a safe place to store value. During recessions and turbulent times in the economy, there is a flight to assets that have low or minimum default risk. Watches are a stable store of value, although there is momentum both upwards and downwards in the market.
Dr. Cunningham also discusses Rolex, a brand that has had an incredible amount of success over the past 80 years or longer. Recent announcements indicate that Rolex is putting online new factories and capacity to expand production, which could be an indicator of where the watch market is headed.
Chrono 24 has an extensive watch collection dataset that provides valuable insights into the watch market. We have explored changing watch collection values in a country by country comparison, the most collected watches by Chrono 24 users, and real watch brand preferences by country and cultural factors influencing them. Finally, we have gained expert insight into how the watch market fits into the global economic picture, and where it might be headed in the future.