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
PodcastsSep 16, 2026
Episode 9: Remembering Cindy EdelsteinTwo special guests join the podcast to commemorate the 10th anniversary of the designer advocate, mentor, and author’s untimely passing.
CollectionsSep 16, 2026
Jessica McCormack, L’Objet Collab on Homewares CollectionMcCormack brings sea-inspired motifs from her “Beaches” collection to L’Objet’s tableware, vanity pieces, and first-ever cutlery set.
CrimeSep 16, 2026
JSA Issues Warning to NJ Jewelers After Rash of Smash and GrabsNine New Jersey jewelers have been victims of smash-and-grab robberies this year, prompting JSA to circulate a list of recommendations.
Brought to you by
Meet Gemology’s Next Generation Microscope: GIA® Gemolite® NXT Professional EditionExperience gemstones with greater precision and comfort than ever before.
IndependentsSep 16, 2026
Bromberg & Co. Names New PresidentMarlin “Brian” Hood, who has been with the store for 20 years, will succeed Ricky Bromberg, who died earlier this month.
Weekly QuizSep 10, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsSep 16, 2026
Midas Chain Releases ‘House of Midas’ Bridal CatalogThe new bridal catalog features the latest jewelry collections and designs from timeless classics to modern silhouettes.
EditorsSep 15, 2026
2026 Emmys Jewelry: An Either/Or Proposition Stars wore either a necklace or earrings at 78th Primetime Emmy Awards but rarely both, Natalie Francisco notes.
Brought to you by
Your Piece Could Be the One Editors Talk AboutSubmit your pieces for a chance to win in this year's competition.
ColumnistsSep 15, 2026
The Levels Your Website Must Clear Before AI Recommends YouJennifer Shaheen compares this new era of AI-powered SEO to a video game: your website must clear one level before advancing to the next.
IndependentsSep 15, 2026
Armadani Launches Retail Support Program for Holiday SeasonThe program highlights “Made in Italy” fine jewelry with digital merchandising, sales education, and local marketing support.
EditorsSep 15, 2026
Q&A: Signet Jewelers’ Joan Hilson on Diamond Demand, the HolidaysHilson, Signet’s chief operating and financial officer, discussed Q2, resurgent natural diamond demand, and why Blue Nile is a standout.
ColumnistsSep 14, 2026
Sherry Smith: Stop Waiting for December to Save Your ChristmasThe stores that have a great December are the ones that made good decisions in August, September, and October, Sherry Smith writes.
AuctionsSep 14, 2026
22 Carats of ‘Sunshine’ Are Up for AuctionThe 22.09-carat fancy yellow “Pragnell Kimberley Sunshine Diamond” is part of the fall jewelry sale at Heritage Auctions.
IndependentsSep 14, 2026
Greenwich St. Jewelers to Unveil Photography Exhibition“Adornos: Jewelry, Memory & What We Pass Down” honors the jewelry’s importance to New York City’s Latine communities.
SourcingSep 14, 2026
Gemfields Sells All Lots at First Emerald Auction in 9 MonthsThe company’s managing director of sales said the results demonstrate “continued strong demand for commercial-quality emeralds.”
SourcingSep 14, 2026
Diamonds Do Good Pledges Support for Eye Care ProgramThe nonprofit awarded a grant to the Gift of Sight initiative spearheaded by South African musician Black Coffee.
CollectionsSep 11, 2026
A Sapphire ‘Stardust’ Ring From Greenwich St. Jewelers The Latine-owned New York jeweler is marking two milestones this year: its 50th anniversary and the 25th anniversary of the 9/11 attacks.
MajorsSep 11, 2026
The Wishing Place by JTV OpensThe jewelry retail broadcast network has sponsored a new space for Make-A-Wish East Tennessee on its campus in Knoxville.
Events & AwardsSep 11, 2026
The Edge Awards Scholarships to 2 Young Jewelry ProfessionalsThe recipients were recognized at the 24 Karat Club of the Southeastern United States’ annual banquet.
MajorsSep 10, 2026
Lagos Founder Steven Lagos Steps Down as CEO Keith Rolfe, CFO and COO of Lagos, is now at the jewelry brand’s helm while Steven takes on the role of executive chairman.
CrimeSep 10, 2026
FBI Offers $50K Reward for ‘Most Wanted’ Fugitive in $1M Jewelry HeistAlberto Perez-Elias is one of four men charged in the armed robbery of a Cape Coral, Florida, jewelry store and remains at large.
AuctionsSep 10, 2026
Massive Matched Pair of Paraíba Tourmalines Head to Sotheby’sThe “Kat Florence Luminas” will be offered together as one lot and could fetch up to $637,000.
SourcingSep 10, 2026
AGTA Announces 4 Newly Elected DirectorsFour directors were elected to the AGTA board and will serve three-year terms beginning in February.
AuctionsSep 10, 2026
Former Sotheby’s, Christie’s Exec Appointed CEO of Julien’s Auctions Ken Citron joins the celebrity memorabilia-focused auction house ahead of its first week-long series of events in Abu Dhabi.
FinancialsSep 09, 2026
Signet Jewelers to ‘Double Down’ on Blue Nile Amid Strong SalesThe jewelry retailer said it sees opportunity at higher price points, particularly in natural diamonds for bridal and fashion.
IndependentsSep 09, 2026
Sarah Leonard Fine Jewelers Closes After Nearly 80 YearsThe Los Angeles-based, family-owned jeweler was founded by Lenny and Sunny Friedman in 1946.
SourcingSep 09, 2026
Fura Gems Notes ‘Remarkable’ Interest in Larger Rubies at Latest SaleThe auction, held in Bangkok, was 96 percent sold by lot, with nearly 411,000 carats of Mozambiquan rubies sold.
