The cost of collecting watches may be high. Even if you focus on low-cost, entry-level watches, purchasing a handful of them costs money upfront.
If you’re like most watch collectors, you’re searching for a fantastic deal to protect your investment while also saving money.
In your search for watches, you’ve undoubtedly encountered Chrono24. On this website, authorized dealers and watch enthusiasts may come together to purchase and sell watches at competitive prices.
But is Chrono24 the best watch marketplace, and is it legit?
What Is Chrono24?
Chrono24 is known as “The World’s Best Watch Market,” which is a fair description. The company has been operating since 2003. They offer a platform where watch buyers and sellers can connect and negotiate deals on a huge selection of watches, including authorized dealers.
Although the platform has its headquarters in Karlsruhe, Germany, it operates globally. They have an office in Hong Kong, New York, and Berlin. They also provide support to watch enthusiasts in more than 100 countries.
Private individuals and dealers can purchase or list watches for sale via the platform. A watch listing may reach over nine million purchasers in a month. Chrono24 does charge a fee when a watch sells, even though listing one is free.
Buying a Watch
The Chrono24 website does not charge any additional fees for watch purchases. However, using Affirm to set up a payment plan may result in some interest fees.
Both watch buyers and sellers are not charged anything to set up a Trusted Checkout Transaction. Chrono24 uses this to offer some additional insurance in an effort to improve the likelihood that you’ll make a purchase on its website.
However, if you’re paying with an AmEx card, you might face additional expenses to counterbalance Chrono24’s higher transaction fee.
Selling a Watch
Chrono24 receives a 6.5% fee on each watch sold through its website. Therefore, if you sell a watch for $1,000, $65 of it will go to Chrono24.
Chrono24 provides all the services, warranties, and insurances that make these purchases so attractive in exchange for these commissions.
Chrono24 As A Seller
Selling watches may be a difficult task.
As a seller, you must observe the platform’s guidelines, learn how to craft a compelling description, take photos that showcase the watch’s beauty, and have faith that buyers will ultimately see and relate to the watch you’re selling.
On Chrono24, used watch sellers fall into two groups. The majority of the platform’s sellers are private people. They could be trying to sell their own watch or use the money they make from trading these items to boost their income.
The other sellers here work as dealers full-time. These might be approved dealers who accept exchanges and buy used watches or jewelers who offer pre-owned watches. As a smart business that is aware of how both groups function, Chrono24 is aware that each vendor categorization has a unique set of criteria.
Selling as an individual.
Although users sell in several places in the modern digital era, the fees help support the Chrono24 service. Here is where it could start to annoy you a little. If you decide to remove your advertisement from the platform, they could ask for evidence that you still own the watch.
The use of Chrono24 is free of listing fees. Both the account and the listing are free. Individual sellers must pay a fee of 6.5% of the total sale amount. For example, if you sell a Rolex for $10,000, the selling fee is $650.
Selling as a dealer
In order to become a dealer, you must apply to Chrono24. You need to provide identification, EIN number, and other company credentials as well as the application to demonstrate that you are a watch business.
You need to select one of three subscriptions when the account is approved. The seller’s fee for the LIGHT subscription ranges from 4.5-8.5% and is around $84 per month. The monthly price for the PRO subscription is $120, while the seller’s fee is between 3.5-7.5%.
Chrono24 As A Buyer
Purchasing watches on Chrono24 is not a difficult process. You may explore by brand or even model using the simple menus or by search.
One of the issues might come from retailers who would list watches that are not in stock. It is also possible for dealers to sell the watch that is listed since they are not held to the exclusivity clause that individual sellers are.
Since you are allowed to examine the dealer’s contact information and close a deal directly, this might also be beneficial to you. Due to the removal of fees, the dealer could be willing to negotiate.
Is Chrono24 Legit?
No matter if you are a buyer or seller or just want to browse watches, Chrono24 is a great site. This platform has been around for a long time and has the resources and expertise to enhance the already successful concept.
Chrono24 is a well-designed and user-friendly platform. It has high fees. However, the platform offers fantastic traffic for both sellers and buyers.
You can visit here and check the best prices from Chrono24.