The new price analysis section in the Marketplace Manager: More data for more precise sales strategies
Your valuable feedback from surveys, interviews, and workshops made clear that you wanted deeper insights into market data that would let you effectively adapt your sales strategies. With our more than 20 years of experience, and data from almost two million sales, we’re pleased to introduce you to the new price analysis section as we support you with valuable data in the future.
We’ve also renamed the previous statistics section in your Marketplace Manager to “Analytics” and added the new “Price analysis” section. Your total listing views and number of inquiries can of course still be found there.
How the Chrono24 market price helps you sell more effectively
Compare your prices with the current Chrono24 market price and gain clarity about your pricing. You’ll find the following information in the “Price analysis” section:
Your price
The current price of your listing on Chrono24.
Chrono24 market price
The price at which this item was last sold on Chrono24. The calculation of the market price is based on recent sales prices, and supplemented by current listing prices for comparable items.
The data for the calculation comes exclusively from Chrono24. The calculations are carried out regularly and take into account the data from the last eight weeks. Older data is also used for the calculation in individual cases.
To calculate the market prices, we analyze our sales and offer data from the last eight weeks while taking into account the characteristics of each watch to ensure that the prices are comparable. The market prices are updated weekly and provide you with reliable information about the prices currently being paid on Chrono24. What data is included?
- Sales prices
- Offer prices
- Previous market prices
What is taken into account when comparing with other offers?
- Scope of delivery
- The difference between sales prices from private sellers vs. dealers
- The condition of the watch
- The age of the watch
- Case material
- Dial color
- The reference number
What is not taken into account?
- Visual condition in pictures
- Information contained in the description text
- Differences between various countries and regions and the resulting potential taxation differences
Chrono24 sales
This value shows you how often comparable items have been sold on Chrono24 in the last eight weeks. This data is also used to determine the Chrono24 market price.
Views
This number shows how often your listings have been viewed in the last eight weeks.
Requests
This value indicates how often your listing has been requested in the last eight weeks. Listings that have not received any requests during this time are marked with a red exclamation mark.
Price analysis FAQs
Chrono24 does not currently offer any specific market price differentiation by country or market. However, we are aware that this is a sought-after feature and are therefore looking into ways of integrating it into future developments.
We calculate the market price based on data from the last eight weeks. We take into account both sales and offer prices. If there is insufficient current data, the last calculated market price is factored more heavily into the calculation. This means that older data is also taken into account. If there are no new sales or offer prices, we will continue to use the last calculated market price.
If your listing is marked with a red exclamation mark because it has not received any inquiries in the last eight weeks, this could possibly be due to pricing that is not consistent with the market. We have developed the Chrono24 market price to help you find a realistic selling price. If necessary, adjust your pricing or marketing strategies to increase the attractiveness of your offer and thus the likelihood of a sale. Checking the listing details and photos can also help to grab the interest of potential buyers.
The new data in the analytics area offers you a wide range of opportunities to optimize your sales strategy. By comparing your listing’s price with the Chrono24 market price, you will gain valuable insights into the current market situation. This information is particularly useful for reacting to changes in the market. Whether prices are trending up or down, the data allows you to promptly adjust your prices consistent with the market to increase your competitiveness while also better responding to buyer needs.
We want to help you find the optimal price for your listings with the new price analysis section. Explore the new functions, refine your pricing strategy, and strengthen your competitiveness.
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