Unlike the consumer goods, beverages and retail sectors, no major consultancy firm publishes market share data for the Swiss watch sector, the memo continued. “This is due to the impracticality of conducting such an investigation and the sensitive nature of the Swiss watch industry,” the company said.
Perhaps no other brand is as inconspicuous and influential as Rolex, which continues to dominate the market. According to Morgan Stanley's 7th annual report released in February, sales in 2023 are estimated to have exceeded 10 billion Swiss francs, and Rolex's market share is said to have expanded to 30.3%. .
However, the brand is not included in Luxury Watch Barometer's monthly report because the company is said to prohibit authorized dealers from sharing point-of-sale information with third parties.
Used section
In a secondary market similarly dominated by Rolex, data-driven startup Everywatch is helping uncover the value of used watches and where you can buy them.
“Everywatch was born out of a need,” Giovanni Prigigalo, the company's co-founder, said by phone from Cagliari, Sardinia, Italy, where he lives and works. “We created this service with the idea that aggregators exist in many different sectors, such as art, automobiles, and wine. But the watch industry simply didn’t have that.”
The company publishes monthly reports containing sales statistics aggregated by artificial intelligence from over 300 auction houses and 180 marketplaces and dealers around the world. For example, a report released in February included the total value of watches on the secondary market ($9.4 billion), Cartier, which won the highest auction price that month (a Crush model, $277,200), and which experienced a major sell-off. It included details such as the model. Largest price increase compared to previous month's results (Omega Seamaster, over 107.2 percent).