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.
More on Watches
The Latest
GradingMar 06, 2026
Tom Moses Leaving GIA After Nearly 50 YearsMoses, who started at GIA’s Santa Monica lab in 1976, will leave the Gemological Institute of America in May.
SourcingMar 06, 2026
Charles & Colvard Files for Bankruptcy, Citing Price PressuresIncreased competition, falling lab-grown diamond and moissanite prices, and the rising cost of gold took a toll on the moissanite maker.
CollectionsMar 06, 2026
Zome’s ‘Solara’ Earrings Embody Celestial BeautyThe earrings, our Piece of the Week, feature pink tourmalines as planets orbiting around an aquamarine center set in 18-karat rose gold.
Brought to you by
Is This You? Every Jeweler Has This Problem; We Have the Solution.Every jeweler faces the same challenge: helping customers protect what they love. Here’s the solution designed for today’s jewelry business.
MajorsMar 06, 2026
Pomellato’s 2026 IWD Campaign Spotlights Economic Abuse“The Price of Freedom” campaign video for International Women’s Day confronts the quiet violence of financial control.
Weekly QuizMar 05, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Policies & IssuesMar 05, 2026
Tariffs to Increase to 15% This Week, Treasury Secretary Says Also, a federal judge has ordered that companies that paid tariffs implemented under the IEEPA are entitled to refunds.
CollectionsMar 05, 2026
Common Era Honors ‘Difficult Women’ in CollectionThe ever-growing collection, which just expanded with the addition of Olga of Kyiv, features cameos of 12 women from history.
Brought to you by
DCA Enters a New Chapter in Jewelry EducationWith refreshed branding, a new website, updated courses, and a pathway for growth, DCA is dedicated to supporting retail staff development.
TrendsMar 05, 2026
Engagement Ring Trends 2026: What’s In, and WhyWe asked a jewelry historian, designer, bridal director, and wedding expert what’s trending in engagement rings. Here’s what they said.
Events & AwardsMar 05, 2026
AGS Announces Conclave 2026 Speaker LineupThe annual event will be held in Orlando, Florida, from Sept. 14-17.
TrendsMar 05, 2026
Caitríona Balfe Fronts Only Natural Diamonds CoverThe “Outlander” star modeled for the digital cover of the magazine’s spring issue, which features a story on her relationship with jewelry.
MajorsMar 05, 2026
Registration Opens for CIBJO Centenary CongressThis year’s annual congress, which will mark the confederation’s 100th anniversary, will take place this fall in Italy.
MajorsMar 04, 2026
Michael M Opens First StoreBeverly Hills was chosen as the location for the brand’s first store, designed as a “private residence for modern monarchs.”
Policies & IssuesMar 04, 2026
Luxury Brands Temporarily Shutter Middle East StoresKering, Apple, and other retailers have reportedly temporarily closed stores in the Middle East region in light of the recent conflicts.
EditorsMar 04, 2026
Q&A: Brilliant Earth’s CEO on the New Beverly Hills StoreBeth Gerstein discusses the vibe of the new store, what customers want when fine jewelry shopping today, and the details of “Date Night.”
Events & AwardsMar 04, 2026
JIS Miami Spring Show to Feature New Gifts Pavilion, Pop-Up Trends TalksNearly half of buyers are prioritizing silver and fashion collections this season, organizers said.
TrendsMar 04, 2026
Spinelli Kilcollin Rides Free In Year of the Horse CampaignThe “Live Now. Polish Later.” campaign features equestrians wearing the brand’s jewels while galloping across the icy plains of Kazakhstan.
MajorsMar 04, 2026
LeachGarner Names New Brand DirectorThe precious metals provider has promoted Jennifer Ashworth to the role.
Events & AwardsMar 03, 2026
Johnny Nelson Wins David Yurman Gem Awards GrantNelson will be honored as the inaugural grant winner at the Gem Awards gala on March 13.
SourcingMar 03, 2026
7 Trends That Could Define the Diamond Industry’s FutureExperts from India weigh in the politics, policies, and market dynamics for diamantaires to monitor in 2026 and beyond.
MajorsMar 03, 2026
Swiss Refiner Completes Acquisition of Gannon & ScottThe American precious metals refiner’s day-to-day operations remain the same post-acquisition.
TrendsMar 03, 2026
Amanda’s Style File: AquatopiaThese aquamarine jewels channel the calming energy of the March birthstone.
Events & AwardsMar 03, 2026
AGTA Adds Another New Category for SpectrumThe “Innovative Design” category and award will debut in the Spectrum division of this year’s AGTA Spectrum & Cutting Edge Awards.
EditorsMar 02, 2026
Jewelry at the Actor Awards: Reimagining Hollywood GlamourDiamond jewelry was the star of the event formerly known as the SAG Awards.
SurveysMar 02, 2026
Consumer Confidence Edges Up in FebruaryConsumers were somewhat less worried about the future, though concerns about rising prices and politics remained.
Events & AwardsMar 02, 2026
JVC to Honor Rebecca Foerster at Annual LuncheonFoerster is this year’s Stanley Schechter Award recipient.
Events & AwardsMar 02, 2026
JFC Names 2026 ‘Facets’ Honorees Sponsorships and tickets to the annual fundraising event, set for May 31, are available now.
