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☆ How to buy your first luxury watch
▼ + stars: | 2024-05-03 | by ( Christy Choi | ) edition.cnn.com time to read: +9 min

Learn the lingoJust like buying a car, there are some technical terms prospective watch buyers can benefit from knowing. Parts of the watchCrown: Small knob found on the side of the watch used to change the date and time. Automatic movement: A mechanical watch that does not need a battery to move, it relies on movement from the wearer to wind. Buy a watch for the right reasons and consider what you need from itDon’t get sucked into hype around a watch. See if the designer made any othersWhile on the lookout for a watch to wear to his wedding, Pang saw a six-figure Audemars Piguet watch.

Persons: you’ve, it’s, Patek Philippe, Cartier, Vacheron Constantin, Sotheby Asia’s, Joey Luk, Charles Frodsham, “, ”, Johnathan Chan, you’re, Helbert Tsang, Tim Stracke, don’t, Luk, Carlos Pang, Pang, Gerald Genta, Chan, … Organizations: CNN, Rolex, Horology, Facebook, IWC, ” Locations: haute, Hong Kong, Geneva

☆ The pre-owned luxury watch market is thriving
▼ + stars: | 2024-04-24 | by ( Fawnia Soo Hoo | ) edition.cnn.com time to read: +11 min

Granted, the pandemic-induced second hand luxury watch boom peaked back in March 2022, but the market is still going strong, and price levels remain higher than pre-Covid times. “(They’re) a crucial demographic for the growth and evolution of the pre-owned and vintage luxury watch industry,” added Paul Altieri, founder & CEO of multi-brand online luxury marketplace Bob’s Watches. Don't be shy," said Dimepiece's Brynn Wallner of new buyers' potential nerves when it comes to luxury watch stores. How can you tell if a luxury pre-owned watch is the real deal? “Luxury watches of this caliber will go from one generation to the next to the next to the next,” he explained.

☆ An 11-year-old girl is going viral on TikTok after showing off her luxury outfits including a $124,000 watch and a $31,000 handbag
▼ + stars: | 2023-12-03 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +5 min

11-year-old Moo Abraham went viral on TikTok this year after showing off her lavish lifestyle. Videos on the account of Love Luxury, a store owned by her parents, show her modelling clothes and jewelry worth thousands. AdvertisementAn 11-year-old girl has caused a stir on TikTok and divided users' opinions as videos of her showing off her luxury items including a $124,000 watch and a $31,000 Hermés handbag have gone viral. The Patek Philippe Nautilus 5711 , which was discontinued by the brand, is being resold for anywhere between £70,000 ($87,000) to £266,798 ($333,000) on the luxury watch marketplace Chrono24. Business Insider couldn't independently verify whether Moo Abraham owns the items she models, or whether they are stock in her parents' store.

Persons: Moo Abraham, —, Emily, Adam Abraham, Louis Vuitton, Dior, Gucci, billionairesdaughter, She's, Emily Abraham, she's, Philippe, Kelly, Philippe Nautilus, couldn't, Moo, Royce Cullinan, item's Organizations: Service, Love, Philippe Nautilus, Fashion Locations: London, TikTok, Knightsbridge , London, Dubai

A tray of Rolex watches are seen on a dealer's stand at the London Watch Show on March 19, 2022 in London, England. Prices for luxury watches are near a two-year low on the secondhand market, reversing a rally that brought timepieces like Rolex, Patek Philippe and Audemars Piguet to record highs during the pandemic. The average price of a watch sold secondhand has fallen 31% since March 2022, according to WatchCharts, a luxury watch price tracker. At the market's peak, the average price of a luxury watch sold secondhand soared to $45,108, with buyers paying up to five times the retail value for in-demand watches. "It was interesting that the price hike mainly happened among three family-owned brands: Rolex, Patek Philippe and Audemars Piguet.

Persons: Patek Philippe, Audemars Piguet, Paul Altieri, Audemars, Tim Stracke Organizations: London, Rolex Locations: London, England, German

☆ Soccer superstar Cristiano Ronaldo pumps money into luxury watch resale marketplace Chrono24
▼ + stars: | 2023-07-12 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +5 min

Cristiano Ronaldo has become an investor in Chrono24, the global luxury watch resale marketplace. International soccer superstar Cristiano Ronaldo has become an investor in Chrono24, CEO Tim Stracke told Insider in an exclusive interview. Luxury watch resale prices have declined for more than a year. The investment comes at a rocky time for the luxury watch resale market, which has seen more than a year of price declines following the tightening of interest rates and the implosion of crypto. Stracke says he and Ronaldo both believe in the long-term prospects of the watch resale market.

Persons: Cristiano Ronaldo, Ronaldo, Tim Stracke, Forbes, Stracke, Chrono24, Bernard Arnault, Al Nassr, – Stracke, Jacob &, Franck Muller Cintree Curvex, Georgina Rodríguez Organizations: Aglae Ventures, Service, International, Manchester United, Portuguese national team, Nike, Rolex, Excel, Rodríguez's Rolex Locations: Chrono24, Wall, Silicon, Saudi, Dubai

☆ Demand for luxury watches shows no sign of fading, says Audemars Piguet CEO
▼ + stars: | 2023-04-13 | by ( Robert Frank | ) www.cnbc.com time to read: +7 min

watch nowThe luxury watch market is well-positioned to avoid a crash as tight supply and a new generation of young collectors drive demand, according to the CEO of Audemars Piguet. With demand for watches outpacing supply of new inventory, prices for pre-owned watches have skyrocketed, along with online sites like Chrono24, Watchfinder and Watchbox that buy and sell pre-owned watches. A pre-owned Audemars Piguet Royal Oak "Jumbo" that retails new for $35,000 is currently listed on Chrono24 for $115,000. Audemars Piguet produced only 50,000 watches last year and is expected to produce about 51,000 this year, Bennahmias said. Source: Audemars PiguetAudemars is now celebrating the 30th anniversary of its popular Royal Oak Offshore model, a larger version of its signature Royal Oak.

☆ Rolex is discontinuing its $9,300 'mad scientist' Milgauss watch — and now some resellers are listing it for over $13,000
▼ + stars: | 2023-03-28 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +4 min

Rolex has quietly discontinued one of its professional watches, the magnetic field-resistant Milgauss. Bob's Watches CEO Paul Altieri told Insider he's holding off selling until prices find a new steady state. The original version was worn by the scientists at CERN, the European Organization for Nuclear Research, in Geneva, Rolex says. It even ranks near last place among the 16 Rolex models tracked on the site. Of course, Rolex could resurrect the Milgauss in a few years, but until it does, mad scientists will have to content themselves with a pre-owned model.

☆ Rolex watches have outperformed gold, real estate, and stocks over the past 10 years, and sellers believe their future value will continue to deliver
▼ + stars: | 2022-12-21 | by ( Dominick Reuter | Lakshmi Varanasi | ) www.businessinsider.com time to read: +4 min

Prices for luxury watches like Rolex, Patek Philippe, and Audemars Piguet skyrocketed in 2022. Demand for second-hand luxury watches will likely stay high next year, according to Chrono24 founder Tim Stracke. Around 14% of the platform's sales come from Rolex watches, and 80% of those are pre-owned. "The new programme makes it possible to purchase pre-owned watches that the brand itself has certified and guaranteed. Its aim is to bring added value to the existing supply of pre-owned Rolex watches.

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