Chrono24 is reporting extreme volatility for watches fueled by concurrent announcements and rampant rumours of model discontinuations.
Ms Hayek refuses to blame management mistakes for a fall in sales from CHF 8.2 billion to CHF 5.6 billion in 2020.
By the end of 2019, eight watch brands had sold watches worth over $1 billion in calendar year and two more were knocking on the door. Covid-19 has shrunk the billionaire club to six.
Swatch Group watch sales fell faster than those for Rolex and Tudor, leaving Rolex AG the largest watchmaking group in 2020.
Turnover for Rolex dropped by 14% to CHF 4.42 billion, according to a Morgan Stanley research paper on the Swiss watch industry in 2020.
Explosion of online auctions fails to compensate for loss of saleroom events during the pandemic.
Exclusive data from Chrono24 shows the power of internet rumors drove a massive spike in prices.
Analysis of the most popular watch brands and collections by two of Europe’s leading secondary market specialists, CHRONEXT and Watchfinder & Co., reveals interesting variations between countries that authorised dealers and pre-owned operations can learn from.
Swiss watch exports to the United States are 20.9% lower for the first 10 months of 2020, after recovering from drops of 86% drop in April and 79% in May.
Panerai, A. Lange & Sohne and Harry Winston timepieces take the the top three slots in auction platform's rich list