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Chrono24 adds 7.5% buyer’s surcharge on all purchases

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Chrono24 has introduced a temporary surcharge of 7.5% on all purchases made in the United States.

The surcharge is effective immediately.

In a message to individuals and businesses selling watches on the Chrono24 platform, the company says that there have been unexpected increases in its cost base and the surcharge is needed to “run Chrono24 in a profitable manner that is sustainable in the long term”.

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“Unfortunately, we have been confronted with some major changes on very short notice, including increased payment fees, changes to our US tax structure, and an increase in warranty-related refunds,” the statement continues.

The surcharge will be paid by the buyer, and Chrono24 appears to concede this could make prices less competitive unless sellers absorb the cost or use other paid-for services.

“To keep market prices competitive, we will be waiving the sales fee for all Trusted Checkout transactions that already include sales tax and bear the costs on our end. We are working hard to maintain competitive prices for our users and dealers and will continue to do so in the future,” Chrono24 says.

19 Comments

  1. I’ll predict this surcharge will make Chrono24 uncompetitive in the USA and they will have to change their decision. This decision will compromise their sales in the US. Americans don’t like being singled out. Chrono24 I believe doesn’t understand Americans and sellers will bear this cost on everything but the most desired. They should have put a small fee for every sale everywhere to make this palatable and understandable.

  2. Wait, so let’s say I’m selling a watch, i no longer pay the 6.5% sales fees? And the buyer pays 7.5%? I’m confused. Why arent’ these so clear?

  3. I have purchased several pieces thru Chrono24 and was prepared to do it again until I saw this new added charge so I purchased from another supplier, they will lose my business as long as they have this charge.

    1. What a bunch of crap. They just shof themselves in the foot with this buyer. So long Chrono until you remove this.

  4. They clearly do not know their audience. People go to Chrono24 for deals and those people ARE NOT going to pay and additional 7.5 percent.

  5. Many Chrono24 sellers have their own web sites where they list the same watches as those on Chrono24 at about the same price as on Chrono24, but without the 7.5% fee.

  6. They charge the seller 6.5%. Also now charger the buyer 7.5%. That is 14% they collectfor just being a middle man. I’m out! Not looking to get F’d!

  7. So Chrono is now taking a commission on both sides of the sale!! They won’t have my business ever again doing that. Why on earth would they screw up the great business model they had. After all, the 6.5% sellers fee was reasonable and made them as successful as they are today. This new change is going to hurt their sales big time. I think its time for a competitor to enter the market now with a 5.5% selling fee and no fee to the buyer. That is just crazy!!

  8. I’m afraid I won’t buy on Chrono24 until this is lifted. 1. Unfair advantage to non-US and 2 if Chrono24 does not know how to manage and run its business, it should fold.

  9. Went to buy a watch until I noticed this extra fee – what a rip off. Won’t shop at Chrono until this is lifted. Even eBay doesn’t charge buyer fees and eBay is shady AF!

  10. Any buyer or seller can crunch the numbers for themselves and decide which platform is most advantageous for them. It make be Chrono24, it may be eBay, or the choice may be to continue to own the watch.

  11. Wow – just made an offer on a watch and found this crap. I took back the offer based on the additional 7.5%. I hate it for the seller but its made it uncompetitive with an internet retailer I use.

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Tags : Chrono24
Rob Corder

The author Rob Corder