#Germany #luxury watches #Chrono24 #Karlsruhe #ChronoPulse

Chrono24 Reports: May 2023 Watch Price Index

The latest report from Chrono24, one of the world's largest online luxury watch marketplaces, reveals a notable increase in the ChronoPulse watch price index for May 2023. Following a decline in April, the index recovered impressively with a rise of 1.5%. This growth is a positive indicator for the luxury watch market, as nearly all brands demonstrated price improvements.

In what represents a significant comeback, luxury brands like Cartier, which recorded a decrease of 5.8% in April, rebounded with a 2.8% increase in May. Similarly, Vacheron Constantin transformed a drop of 5.4% into a 3.3% increase, while Panerai shifted from a 6.4% decline to a positive growth of 2.0%. Notably, Breitling led the pack with an impressive increase of 5.1%, while only Omega and Jaeger-LeCoultre experienced slight declines in their pricing.

Stability Over Six Months

Over the past six months, the overall trend has been stable, with the index climbing by 4.7%. Almost all brands, except for one, have shown positive growth. Cartier and TAG Heuer took the lead with increases of 6.6% and 6.3%, respectively. This reflects a consistent demand in the market, largely driven by rising retail prices in the primary market for new watches, which subsequently impacts the secondary market.

Moreover, recent changes in import tariffs on Swiss imports by the US—reducing from 39% to 15% effective November 2025—further encourages this trend. With the final prices of new Swiss watches in the US remaining high, the appeal of the second-hand market endures.

Market Dynamics in May

Several factors contributed to the fluctuations seen in May. Cartier's strong performance stands out with a significant increase, responding positively after a previous decline. Tudor is also becoming recognized as a cost-effective alternative to Rolex, while Vacheron Constantin is posing a challenge to established high-end players like Patek Philippe and Audemars Piguet.

TAG Heuer follows closely with a solid growth trajectory over the past six months, despite no recent price hikes in retail. The success of its anniversary edition of the Carrera and the Monaco line continues to drive demand.

Patek Philippe remains robust with a 5.4% increase over the last six months, helped by a scarcity of models like the Nautilus and Aquanaut that support prices across their lineup. Rolex has sustained a 4.5% increase, buoyed by heightened collector interest following the announcement of the production halt for the Pepsi GMT Master II at the 2026 Watches & Wonders event.

Overall Brand Performance

The past half-year period has been favorable for nearly all brands. Even those that were underperforming, such as IWC, Panerai, and Hublot, have shown signs of recovery, with Hublot leading the way with a notable 4.2% increase in May.

Breitling's 5.1% rise indicates that the prolonged adjustment phase may be nearing its end, but one month’s trend alone shouldn't be mistaken as a definitive turnaround.

"April’s decline didn’t last long," states Balazs Ferenczi, leader of the brand engagement team at Chrono24. “We are observing that nearly all brands have rebounded in May, and the overall six-month index highlights a positive downward trend. The widespread increase across brands is not just a localized phenomenon but signifies a broad-based demand in the market.”

About ChronoPulse

The ChronoPulse watch price index tracks price trends for luxury watches based on actual transaction data from Chrono24's marketplace, covering 14 major watch brands and over 140 models. The rate of change is calculated dynamically, converted to Euros using real-time exchange rates. Brands with lower transaction volumes can experience greater short-term fluctuations in their data. For further details, visit the ChronoPulse page.

About Chrono24

Founded in 2003, Chrono24 is the world's largest online luxury watch marketplace, connecting buyers and sellers across over 150 countries. Featuring more than 600,000 watches from 3,000+ sellers and a monthly visitor count of around 9 million, Chrono24 provides a wide array of luxury timepieces, including new, pre-owned, and vintage watches. The company’s headquarters are in Karlsruhe, Germany, with offices in Berlin, Miami, Tokyo, and Hong Kong, employing over 350 staff worldwide.

For more updates and insights, follow Chrono24 on Instagram and explore their official app for seamless transactions.