Luxury watch resale platform Chrono24 to continue "surfing" on the success of the second-hand market

"The growth potential of this market is enormous," said Karine Szegedi, head of consumer, fashion and luxury at Deloitte Switzerland, speaking to Bloomberg.

According to the latest report published by Deloitte, generations Y and Z are set to underpin the dynamism of the pre-owned luxury watch market, which will involve an ever-expanding range of brands. Driven by major players such as Chrono24, this market is set to grow by 75% by the end of the decade, eventually accounting for almost half of the overall luxury watch market. Annual sales of pre-owned watches are expected to rise from 20 billion Swiss francs today to 35 billion Swiss francs by 2030, according to a Deloitte survey of consumers and watch brand managers.