Market Wrap: The Watch Industry in 2024 – Openwork Episode 28

Is the Watch Industry Starting to Turn the Corner?

The watch industry has been experiencing a period of volatility in recent years. In an effort to better understand the current state of the market, we recently sat down with Hamza Masood of WatchCharts, a service that provides comprehensive and transparent watch market data.

Hamza shares the sources of data that WatchCharts uses to form its perspective on the market, explaining that WatchCharts tracks over two dozen publicly available data sources, including marketplace platforms like eBay and collector forums like Rolex Forums. He also emphasizes that WatchCharts normalizes all of its prices for condition, completeness of delivery contents, region, and whether the watch is being sold by a private party or a dealer.

Hamza then gives his take on the current state of the watch market, attributing declining revenues to a number of factors, including customer fatigue with luxury brands and the high prices of watches.

Of course, we ask Hamza about his thoughts on the future of the watch market. And while it's difficult to predict where the market is going, he shares a number of key indicators we can all keep our eyes on.