Chrono24 is challenging assertions by Chronext that premiums above authorized dealer retail prices for certain Patek Philippe and Rolex watches have been falling in the past month.
Both business are based in Germany, and avidly study their own and each others’ data for signs of movement in the market.
On Wednesday, Chronext‘s co-founder Philipp Man said that, even for the Pepsi, the premium above retail prices is narrowing. “The delta is decreasing pretty fast. It is still quite significantly above retail, but you can see that gap is going to change pretty quickly. Even though it will remain trading at a premium,” Mr Man said.
Now Tim Stracke, CEO of Chrono24, has joined the debate and provided data from his own platform to WatchPro.
“We see the current discussion on price decreasing on Rolex sport models with interest. Our data does not match this observation. From our point of view the price development for especially the Rolex Pepsi is quite flat, pending around €16,000 /$18,000 over the last months. As global marketplace we mirror the market of approximately 3,000 dealers and 30,000 private sellers offering over 400,000 watches from around the world. This gives us an excellent overview on global trends within the luxury watch market. We currently track approximately 180 new/unworn Rolex GMT Master II “Pepsi” (126710 BLRO) starting at approximately €15,500 in the EU on Chrono24 and we don’t see any price decreasing here.”