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Buying and selling luxury watches on Chrono24 is not rocket science. I’ll tell you how to safely find your dream watch online in this blog post. The testimonial: me. The dream watch: limited, very much in demand and hard to get. I have dared the self-experiment….
It can’t always be a new model…
…the limited or antiquated wristwatches are just too exciting for that. Often they were not produced for a long time and are accordingly rare. Mostly it is this combination that triggers the fascination in us. But buying a used luxury watch still deters many prospective buyers. The fear of acquiring a fake model or a timepiece with previously unknown signs of use at a price that is far too high is too great. To put it in a nutshell: people are afraid of being ripped off.
That this fear is unfounded is what I would like to write about in this text. Some time ago, I was attracted by a special treasure that was only available on the second-hand market. Chrono24 helped me on my way to my dream watch.The following lines will tell you which model it is, how the purchase process was handled and whether my expectations were met.
Before we dare to start the buying process…
It was love at first sight. The Tudor Black Bay 79220N has been the epitome of a dream watch for me for years. This is also due to its history and significance to Tudor.
With its launch in 2012, the watch has made Tudor what the brand is today, 10 years later. Now, a Tudor Black Bay is not exactly known for its rarity. Derisively called the “poor man’s Rolex,” the watch is in the entry-level luxury segment and can be purchased at any time. Reference 79220N isn’t just any Black Bay, though. It features the distinctive smiley face. The diver with the black dial has an ETA 2824 caliber and was only produced for about six months. In the meantime, the series has given way to the current generation with manufacture calibers.
So, if we had already characterized the desired watch. But now I want to talk about how I proceeded with the purchase of the 79220N via Chrono24.
The step-by-step instructions
Let’s take a first look at the website, which in my case is personalized. The registration with a free user account I can only warmly recommend to you. We will clarify which decisive advantages arise for you in the following.
First of all, it is certainly helpful if I briefly summarize the most important facts about Chrono24. The Karlsruhe, Germany-based company specializes in the online buying and selling of watches, so unlike eBay, it is not a confusing general store. In the meantime, the company can look back on 18 years of history, which is half an eternity in Internet times. Currently you can look at almost 500000 watch ads with a total value of about 4 billion euros – insane! In 2020 alone, watches worth about 2 billion euros were bought and sold. In addition, there are 9 million monthly website visitors, 6.55 million app users and 34,000 sellers from over 120 countries, to give you an idea of the dimensions in which we are moving here. Despite its German roots, Chrono24 has an international character and is available in all major languages.
Now let’s get down to the purchase of my Tudor Black Bay 79220N. The search for this model (or any other) is very easy. Just click on the search bar on the home page. Currently, when searching for “tudor 79220n”, you will find 35 listings. The search itself can be narrowed down very specifically on the website as well as in the app using filters such as location, model, price, brand or condition. Of course, the brand name is also sufficient if you want to browse and are not looking for a specific model. Under the filter settings you can also save the search. Attention: this function is only selectable if you are already registered on Chrono24.com. You can be notified by e-mail when a new advertisement from your search is available. After all, with sought-after models it is usually important to be quick.
Via my profile, where you can also access the private settings, I can view my purchases including all data.
There you can also find my Tudor Black Bay. I bought the watch at a price of 4.999,- Euro from a seller in Denmark. The history of the completed order is broken down very clearly in all steps (payment, shipping and payout). I can even read through the messages from my chat with the seller afterwards. In our case, there were a few more, since exporting a luxury item from Denmark is not an uncomplicated matter. So it’s good that the chat function exists. Afterwards I can also look at all the data of the advertisement that the seller has entered.
Secure payment processing via escrow service
The topic of payment processing is a sensitive matter for many. At Chrono24 this is done exclusively via a trustee service. This means I – the buyer – pay the money first to a trust account. This is communicated to the seller, who then sends me the watch. As soon as I have received the watch, I report this to Chrono24, and the seller receives his money. Trading on a basis of trust (questionable for luxury goods anyway) is no longer necessary through the third party, Chrono24. If one buys a wristwatch from a commercial dealer, there is also a 14-day right of withdrawal. When trading between two private individuals, this does not apply, of course. Shipping is insured.
Everything important at a glance: the Watch Collection
Back to my profile. There you also get to one of my favorite features, the Watch Collection. Here I have an overview of the watches now in my possession. Many luxury watches have a displayable history, from which especially the value development can be seen. While the successor Black Bay 79320N stays at a moderate 3620 Euro, the Black Bay with the smiley dial has made a remarkable price increase and is now so not the poor man’s Rolex anymore! Marked is the time of purchase at the price of 4,999 euros. Likewise, the profit can be read off. In the Watch Collection, you can also invest watches that you have not purchased, but whose price development you would like to keep an eye on.
The sale – how to advertise watches
Hypothetically (I don’t sell this watch anymore) I could sell the Black Bay 79220N now. Via the profile in the Watch Collection or the submenu of my profile you can initiate the sale. For example, directly to Chrono24. This is also possible, although the selling price would then logically be lower than the profit I could make if I sold the watch to a private person. So, let’s decide to advertise the timepiece on Chrono24 and offer it on the online marketplace.
Filling in the characteristics of many watches is already done automatically when you enter the reference number. Condition, scope of delivery and a description, however, must be added in any case itself. Chrono24 also suggests a price. At the same time a commission and my proceeds are calculated. The commission is currently 6.5% and thus significantly below the value that eBay currently collects (11%). Now select photos and the ad is as good as done.
How Chrono24 checks ads for authenticity
The only thing missing is the authenticity guarantee. All dealers on Chrono24 are obliged to advertise only originals. The proof of ownership is checked by means of photos. Randomly generated clock times must now be photographed on the dial. This is not so easy with digital watches, but Chrono24 offers a solution here as well. The required times are attached to the watch on a handwritten note and photographed. For me, this has always worked without problems in the past. After examination the release takes place.
In addition, Chrono24 offers enough possibilities to advertise the entry to show the watch to a larger number of interested parties and thus sell it faster. The advertisement drafts can be saved.
Buying (and selling) watches on the go – the Chrono24 App
Personally, I am perhaps a bit old-fashioned and still prefer to use the web for browsing. However, I also know that the majority now buys or advertises watches via smartphone – on the train, during lunch break or right after getting up. That’s where the free app comes in. As with the website, the search (here called ‘Discover’) can be filtered well and operated individually. Right next to it in the menu are the watch list called ‘Favorites’, the Watch Collection, sales with listings and designs, and the personal profile.
The app is also sensibly structured, logically laid out and easy to use. It is in no way inferior to the website.
My conclusion about Chrono24
I already predicted it to you in the introduction and can only reiterate it here. Selling a watch is neither time-consuming nor a shady affair. Chrono24 is a portal that specializes in buying and selling luxury watches. You notice this all the time when using the app and website. Placing an ad is quick and easy. Payment and processing are secure and easy to understand. Intelligent additional functions such as the Watch Collection including appreciation statistics round off the portal.
Also because of the huge marketplace, Chrono24 has become the number 1 website for me to buy and sell watches. I also use it to compare offers with other dealers. So I have no other choice but to congratulate the guys and gals of the Karlsruhe company!