WatchesMay 03, 2021
How eBay Is Making Luxury Watch Purchases SaferWatchesJun 21, 2021
Pre-Owned Luxury Watch Market Growing Quickly, Says McKinsey
A new report outlines the customers most likely to buy a secondhand watch, the most popular brands, and more.
The new Rolex Oyster Perpetual Datejust 36 with a green palm motif dial on an Oystersteel bracelet ($7,050). Research firm McKinsey, with the help of data from Chrono24, published its “State of Fashion, Jewellery and Watches” report, including statistics about the pre-owned luxury watch market.
Karlsruhe, Germany—Demand for pre-owned luxury watches is on the rise, according to a recent report from McKinsey.
In its “State of Fashion, Jewellery and Watches” report, the research firm said it expects sales of secondhand fine watches to reach $30 billion by 2025, making it one of the fastest- growing segments in the luxury industry.
“As brands forge closer relationships with their customers, they will also find opportunities to double-dip in the revenue pool by engaging in pre-owned sales,” said the report, with sales driven by younger consumers as well as collectors and cost-conscious shoppers.
The online share of the secondhand market is projected to reach 30 percent, six times larger than the firsthand market, which sits at 5 percent, with both categories expected to grow proportionally in the next few years.
Direct-to-consumer watch company Chrono24 shared its data with McKinsey for the report.
In 2020, Chrono24 saw transaction volume rise 30 percent year-over-year with pre-owned watches accounting for two-thirds of sales.
The site sees about 9 million unique visitors per month.
“There’s no longer any choice for watch brands but to adapt their businesses to be amenable to D2C,” said Chrono24 co-CEO Tim Stracke in a press release about the report.
The online shopping experience expands the market to welcome new and old buyers.
“The now even wider-spread embrace of the luxury pre-owned watch market creates a major paradigm shift,” said Stracke.
“Collectors can ‘trade up’ faster. Watch novices can enter the market more quickly. Impatient shoppers no longer have to put their lust on a near-endless waiting list due to watchmaker limited supply. And the most passionate watch market-watchers follow the ebb and flow of industry rumors, always on the lookout for an exceptional value or a grail watch.”
According to Chrono24’s data, men account for about 95 percent of requests for pre-owned watches.
Consumers are shifting away from the “more is more” behavior, said the company, opting for pre-owned luxury items instead. This is reflected in the shopping habits of younger consumers in particular.
Millennial and Gen Z shoppers, defined as ages 18-39, account for 61 percent of all pre-owned watch requests on Chrono24.
Customers under the age of 30 are 14 percent more likely to request a pre-owned watch over a new watch when compared with customers between the ages of 50-60.
“The luxury watch marketplace suggests this is a result of a younger-skewing, changing consumer ethos that celebrates not only value, but lifespan as well,” said the company.
Younger shoppers’ openness to pre-owned luxury items “exploded” during pandemic-related lockdowns in 2020.
In the 18-34 age group, requests for pre-owned watches grew 70 percent year-over-year in 2020. In the United States, buyer requests were up 81 percent.
Related stories will be right here …
In its “State of Fashion, Jewellery and Watches” report, the research firm said it expects sales of secondhand fine watches to reach $30 billion by 2025, making it one of the fastest- growing segments in the luxury industry.
“As brands forge closer relationships with their customers, they will also find opportunities to double-dip in the revenue pool by engaging in pre-owned sales,” said the report, with sales driven by younger consumers as well as collectors and cost-conscious shoppers.
The online share of the secondhand market is projected to reach 30 percent, six times larger than the firsthand market, which sits at 5 percent, with both categories expected to grow proportionally in the next few years.
Direct-to-consumer watch company Chrono24 shared its data with McKinsey for the report.
In 2020, Chrono24 saw transaction volume rise 30 percent year-over-year with pre-owned watches accounting for two-thirds of sales.
The site sees about 9 million unique visitors per month.
“There’s no longer any choice for watch brands but to adapt their businesses to be amenable to D2C,” said Chrono24 co-CEO Tim Stracke in a press release about the report.
The online shopping experience expands the market to welcome new and old buyers.
“The now even wider-spread embrace of the luxury pre-owned watch market creates a major paradigm shift,” said Stracke.
“Collectors can ‘trade up’ faster. Watch novices can enter the market more quickly. Impatient shoppers no longer have to put their lust on a near-endless waiting list due to watchmaker limited supply. And the most passionate watch market-watchers follow the ebb and flow of industry rumors, always on the lookout for an exceptional value or a grail watch.”
According to Chrono24’s data, men account for about 95 percent of requests for pre-owned watches.
Consumers are shifting away from the “more is more” behavior, said the company, opting for pre-owned luxury items instead. This is reflected in the shopping habits of younger consumers in particular.
Millennial and Gen Z shoppers, defined as ages 18-39, account for 61 percent of all pre-owned watch requests on Chrono24.
Customers under the age of 30 are 14 percent more likely to request a pre-owned watch over a new watch when compared with customers between the ages of 50-60.
“The luxury watch marketplace suggests this is a result of a younger-skewing, changing consumer ethos that celebrates not only value, but lifespan as well,” said the company.
Younger shoppers’ openness to pre-owned luxury items “exploded” during pandemic-related lockdowns in 2020.
In the 18-34 age group, requests for pre-owned watches grew 70 percent year-over-year in 2020. In the United States, buyer requests were up 81 percent.
By region, the United States comes in ninth when ranking the number of pre-owned watch requests on Chrono24, with about 62 percent of shoppers looking for secondhand watches.
The top five spots for the 2018-2020 period were: Denmark, Italy, Sweden, the Netherlands, and the United Kingdom.
By brand, Rolex watches are the most frequently asked for overall, accounting for 37 percent of all requests sent to Chrono24.
Of all Rolex requests, 71 percent of customers ask for pre-owned watches from the brand.
In second place is Omega, accounting for 11 percent of all requests. When customers ask for this brand, 68 percent look for secondhand watches.
Cartier saw the highest volume of pre-owned requests, with 82 percent of customers who want a Cartier watch looking for one that’s pre-owned.
The company noted a rise in popularity of the vintage Cartier models.
Editors' Picks
Sponsored by
More on Watches
The Latest
CrimeOct 20, 2026
Security Guard Charged With Murder in Shooting at Texas MallThe guard opened fire on a man who was smashing a jewelry display case at La Gran Plaza in Fort Worth last week, police said.
IndependentsOct 20, 2026
David Gardner’s Jewelers Unveils Newly Expanded, Revamped ShowroomThe Texas jeweler added 2,000 square feet to its reimagined showroom, complete with a new design studio and an event space.
SourcingOct 20, 2026
The $50M Victoria’s Secret ‘Fantasy Bra’ By The NumbersJacob & Co.'s diamond masterpiece is the most expensive Fantasy Bra ever worn on the Victoria’s Secret Fashion Show runway.
Brought to you by
Open an Account, Get $50 Off Your First Order. No Code Needed.Built on Relationships. Refined by Craft.
CollectionsOct 20, 2026
Mignon Faget’s Collection Chooses Handmade Over AIThe “Atelier” collection was inspired by the tools, rituals, and objects in an artist’s studio as a quiet rebuttal to an automated world.
Weekly QuizOct 15, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsOct 19, 2026
The Knot to Acquire Rival Wedding Planning Platform ZolaThe pending acquisition is an “exciting opportunity” for wedding vendors to grow their business, said The Knot Worldwide’s CEO.
SourcingOct 19, 2026
Jewelry Design Competition Show Airs in Thailand"The Secret Gems" features eight Thai jewelry brands paired with a team of young craftspeople who create jewelry together to win challenges.
Brought to you by
Meet Gemology’s Next Generation Microscope: GIA® Gemolite® NXT Professional EditionExperience gemstones with greater precision and comfort than ever before.
CollectionsOct 19, 2026
John Hardy Enters the Medallion Chat With Talisman Collection The brand’s “Modern Talisman” capsule collection introduces pendants inspired by the mythology, natural world, and spiritual ethos of Bali.
IndependentsOct 19, 2026
The Stories of 5 Jewelers Celebrating Their Centennials in 2026Independent jewelers from New Mexico to New Jersey answer the question: What has kept your store in business for 100 years?
SurveysOct 16, 2026
How Inflation, Gas Prices Will Affect Holiday Sales The NRF is expecting holiday sales to increase this year, but consumers and retailers alike are facing Grinch-like headwinds.
CollectionsOct 16, 2026
Christina Puchi’s Earrings Hold the UniverseOur Piece of the Week gathers the planets, represented by a variety of colored gemstones, in a pair of 14-karat yellow gold earrings.
IndependentsOct 16, 2026
Reeds Jewelers Expands, Relocates FlagshipThe New York-based jeweler is moving its Amherst flagship store to a larger location in nearby Snyder.
MajorsOct 16, 2026
Katy Chen Appointed Executive Vice President of Graff USA Chen, who worked at Cartier and Tiffany & Co., will lead retail sales and operations for the luxury jeweler’s 11 U.S. stores.
IndependentsOct 15, 2026
Retailer Hall of Fame 2026: Amy and Elise Greenberg For 40 years, sisters Amy and Elise Greenberg have helmed their 126-year-old family business, leading with appreciation and integrity.
ColumnistsOct 15, 2026
Peter Smith: What Is the Culture REP?It’s a term Smith coined and felt compelled to share following a bad experience with an aborted flight and an unfeeling flight attendant.
SourcingOct 15, 2026
Signet Jewelers, Richemont May Join Bidder for De Beers, Report SaysThe two companies are reportedly in talks to join the Global Diamond Consortium, led by former De Beers CEO Gareth Penny, as per Bloomberg.
CollectionsOct 15, 2026
Wolf x Marla Aaron's New Jewelry Box Is for Some (Not All) of Your ThingsThe “Some of the Things” box follows the two larger “Everything” box designs with the look and function of antique sewing and toolboxes.
IndependentsOct 14, 2026
Retailer Hall of Fame 2026: Coleman and Mitchell ClarkFourth-generation jewelers Coleman and Mitchell Clark exemplify the best qualities of their predecessors: humility, modesty, and confidence.
SourcingOct 14, 2026
Manuel Marcial de Gomar, ‘The Emerald Whisperer,’ Dies at 90The gem hunter, whose 70-year career was defined by adventure and exploration, is remembered for his steadfast faith and sense of wonder.
FinancialsOct 14, 2026
LVMH’s Jewelry Brands Turn in ‘Very Good’ Performance in Q3 Tiffany & Co. continued its full-scale store renovation project while Bulgari’s high jewelry collection generated “record-breaking revenue.”
Events & AwardsOct 14, 2026
Chicago Responsible Jewelry Conference Releases 2026 ProgramThis year’s sessions feature leading voices from human rights, legal, and conservation organizations.
MajorsOct 13, 2026
David Webb Owner Purchases Lugano JewelryThe high-end jewelry retailer was sold to private investment firm Middle West Partners and a group of longtime clients.
Lab-GrownOct 13, 2026
Stephanie Gottlieb Takes Lab-Grown Diamond Collection WholesaleThe jewelry designer has partnered with Sofer Jewelry to distribute her 85-piece lab-grown diamond collection.
IndependentsOct 13, 2026
Retailer Hall of Fame 2026: Sean DunnDunn, this year’s Single-Store Independent inductee, is passionate about innovation and telling the story of natural diamonds.
AuctionsOct 13, 2026
Christie's Geneva To Auction 'Bulgari Pink' DiamondThe 24-carat fancy intense pink diamond ring could fetch up to $18 million at the November sale.
IndependentsOct 13, 2026
Greenwich St. Jewelers’ New Candle Smells Like HomeThe “Island Jewel” candle honors New York City and Puerto Rico and raises money for the island’s water relief efforts.
