Did you know that football star Cristiano Ronaldo is somewhat of an investor himself? Today we’re going to talk to a company that he has recently invested in – and that’s online luxury watch resale marketplace Chrono24. 

Founded in 2003, Chrono24 prides itself as the number one address for luxury watches for commercial watch dealers and private sellers from around the world. 

It currently has over 30,000 professional dealers and private sellers from over 120 countries offer more than 500,000 watches. The company’s website sees over half a million visitors everyday. 

In 2020, in particular, it saw watches worth about 2 billion euros transacted through the platform. But what is the demand for luxury watches right now with economies slowing down, interest rates going up, and with cryptocurrencies tumbling? 

Also – with prices of Swiss watches near the lowest in almost two years amid falling prices of Rolex, Patek Philippe and Audemars Piguet models, what does this mean for platforms like Chrono24 which charge a fee out of every transaction?

And how far can Rolex and AP’s move to certify pre-owned watches boost the secondary watch market?

On Under the Radar, Drive Time’s finance presenter Chua Tian Tian sat down with Tim Stracke, Co-CEO and Founder, Chrono24 for more.