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
CollectionsJul 17, 2026
HOWL Taps Shailene Woodley for ‘Home Sweet Home’ CampaignWoodley is seen in the campaign wearing our Piece of the Week, the “Frida” collar featuring 13 pieces of hand-carved Venetian glass.
SourcingJul 17, 2026
U.K. Woman Pays £5 for £15K Diamond Ring at Car Boot SaleA WeBuyVintage jewelry expert uncovered how much the flea market find was actually worth.
SourcingJul 17, 2026
Diamond Dealer Jeff Pancis Pens MemoirThe founder of natural colored diamond wholesaler Pancis Gems shares stories from his five decades in the industry.
Brought to you by
Wedding Band Trends 2026: Personalization Takes Center StageColored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.
Events & AwardsJul 17, 2026
Gem Awards Opens 2027 Nomination PeriodSubmissions for the milestone 25th annual Gem Awards will be accepted across three categories from now through July 31.
Weekly QuizJul 17, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
EditorsJul 16, 2026
Q&A: Guzema’s Co-Owners On Its US Expansion, 10-Year AnniversaryValeriya Guzema and Mariana Lenha look back on the last decade and discuss the Ukrainian brand’s first U.S. store.
SourcingJul 16, 2026
Ekati to Close, Leaving Canada With One Diamond Mine The diamond mine, which opened nearly 30 years ago in Canada’s Northwest Territories, is expected to shut down by mid-August.
Brought to you by
Building the Future of Jewelry Retail: DCA Expands Education, Leadership Development, and Workforce SolutionsDCA is preparing the next generation of professionals by supporting workforce development, leadership growth, and career advancement.
FinancialsJul 16, 2026
Richemont’s Jewelry Sales Soar for the Seventh Quarter in a RowJewelry sales for the company, which owns Cartier, Van Cleef & Arpels, Vhernier, and Buccellati, rose 21 percent in the first quarter.
Events & AwardsJul 16, 2026
MJSA Mentor & Apprenticeship Program Certifies First Advanced Apprentice GraduateThe graduate, Grace Barden, credited the program with helping her secure a job as a bench jeweler.
Events & AwardsJul 16, 2026
Jewelers of Louisiana to Host 80th ConventionThe event, scheduled for next month in New Orleans, will include dinner, a custom jewelry design contest, and education sessions.
SourcingJul 15, 2026
1,305-Carat Diamond Recovered from Mine in BotswanaThe yet-to-be named stone is the 10th diamond weighing more than 1,000 carats to come out of Lucara’s Karowe mine.
IndependentsJul 15, 2026
New Jersey Jeweler Barry Berman Dies at 81The founder of Fords Jewelers, Berman is remembered for his love of connecting with his community.
FinancialsJul 15, 2026
Watches of Switzerland’s US Sales Jump 18%, Declines to Comment on Sale Report The watch and jewelry retailer had a strong fiscal year despite what its CEO described as a “complex operating backdrop.”
Events & AwardsJul 15, 2026
Hamptons Jewelry Show to Return in JulyThe open-to-the-public luxury jewelry and timepiece show, in its second year, is slated for July 23-26.
CollectionsJul 15, 2026
Pomellato’s New High Jewelry Is LiberatingBold color, expressive gem-setting, and sculptural form define the three chapters that make up “Stile Libero.”
IndependentsJul 14, 2026
Foundrae Opens First Standalone Store Outside USThe New York-based jewelry brand has expanded overseas, opening a store in London’s Mayfair district.
ColumnistsJul 14, 2026
Sherry Smith: What Today’s Jewelry Consumer Is Telling Us Rising revenue does not automatically mean a healthy business, particularly in the current economic landscape, Smith writes.
TrendsJul 14, 2026
Amanda’s Style File: Shoulder Dusters These long, fluid drop earrings are sure to catch the eye.
CrimeJul 14, 2026
Man Charged in $1M Jewelry Store Heist Lands on FBI Most Wanted ListAlberto Perez-Elias is one of four men charged with robbing a Cape Coral, Florida, jewelry store and is the only one still at large.
Events & AwardsJul 14, 2026
Conference on Mining, Sustainability Kicks Off in NYCInitiatives in Art and Culture is hosting its 16th annual Gold and Diamond Conference, with the theme of “Resilience.”
Lab-GrownJul 13, 2026
Stephanie Gottlieb Changes Her Mind on Lab-Grown DiamondsThe designer, who once said she’d never sell lab-grown diamonds, debuted two capsule collections designed to be fun and easy to wear.
SourcingJul 13, 2026
De Beers Announces Potential Layoffs, 2-Year Production Pause at VenetiaThe diamond miner and marketer is undergoing another round of cost-cutting measures ahead of its sale by Anglo American.
Events & AwardsJul 13, 2026
Registration Opens for JIS Fall 2026 ShowThe annual trade-only buying event is slated for Oct. 16-19 in Miami Beach, Florida.
Events & AwardsJul 13, 2026
AGTA Accepting Entries for Spectrum 2026AGTA also has announced the lineup of judges for the colored gemstone cutting and jewelry design contest’s various categories.
TechnologyJul 10, 2026
There’s a New Blind Box for Luxury Watches Collectibles platform Arena Club’s new Time Boxes could contain a Rolex or Patek Philippe watch.
TrendsJul 10, 2026
Jade Trau Creates a Constellation of DiamondsThe “Constellation Plié” collar, our Piece of the Week, features diamonds arranged in a constellation of shining stars.
