@Robert-Jan, maybe not the right place to ask this, but I have always wondered : how does the Chrono24 'watch collection function' assign a current market value to a watch in one's collection? Based on (average of) what people are asking for such a watch via the platform? Or does it track and include in the statistic e.g. offers accepted? I have not tried this function out yet (a bit paranoid about big brother), but have known about it since you first wrote about it.

I guess this must be a very difficult function to implement, as not all watches of the same model produced in the same year are equal as you (and the Chrono24 team) are undoubtedly aware...a watch that looks like the dog ate it for breakfast or has wrong parts etc can't have the same value as a mint all original one.

If there is already some article published somewhere addressing this, please excuse me and kindly point it out...thanks.

 

Is that pp available somewhere? I'd be interested seeing it.

 

They told us they use statistics and they eliminate outliners (I am sure you know what this means). There is no perfect accuracy about that and the more samples they see, the more the trend is getting accurate. Also, they do not take in account the mkyear nor the condition but only the model reference, in order to have enough samples to get some data for the trend. If they filtered the information too close to your current watch, the number of samples in their data would be too low, and then once the outliners removed, it would be really insufficient.

For sure it will work better with a watch that has an own model number or reference, than a 145.022 Speedmaster

 

looks great. congrats.☕

 

Exactly @eugeneandresson and @kov . I also put my own collection in last Monday and it is quite OK. As long as there is enough data, the numbers look fairly well. I see only some odd things on a couple of my watches (gold Globemaster and my Seikos), which definitely has to do with either sample size or sellers with sausage fingers. Condition would be a great feature to narrow it down, but this would also need more data.

What I missed most is the absence of some reference numbers. Like my Apollo XIII or gold Apollo XI from 1980. I even bought the latter one from C24 (in 2014) but has no data. When I look at the total value, and the chart of the build-up, there us a weird hiccup where I almost went millionaire. I guess that also had to do with sausage fingers from a seller (on price).

 

I would like to add that tracking value isnt that important for me. I know what I paid and what some of the things are worth. For me, I would like to just record my collection somehwere. What I would like to see are an export function (to a PDF report for example) and some more fields on describing special things such as the condition of the watch and accessories, which accessories are there etc.

 

We've been talking about this here : https://omegaforums.net/threads/how-do-you-collate-your-watch-information.67463/page-2#post-847458

 

I would like to stay away from spreadsheets

 

Sounds like that they just use a normal (e.g. Gaussian) distribution function and take mean value (outliers being 'dog' on the left and 'NOS' on the right). So, eg, for an Ed white lets say 'dog' = $8k, 'NOS' = $25k, your watch is valued then at about $16k (depending on the sample set naturally, but it should be round that).

I agree, tracking value isn't important, but it is interesting. It sounds like the guy with the DOG collection will be 'wealthier' then the guy with the 'NOS' collection Better don't track it...

 

There are some good ideas besides my particular reply to the thread

 

This is exactly where the perception might differ from reality

Note for myself : don't be the guy with a DOG collection

 

Fantastic report and an honor to have participated!

 

Here's another report with LOTS of images:

https://www.chrono24.com/magazine/chrono24-gtg-report-p_25485/

 

And even a short video