Inflation Is a Good Thing for Seller of Used Rolexes Eyeing IPO
- Chrono24’s transaction value grew more than 40% last quarter
- Secondary watch market outpaces sales of new timepieces
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Chrono24, the biggest platform for selling secondhand luxury watches, says the resale market is surging as investors seek a shelter from inflation, buoying prospects for a potential initial public offering.
The platform, whose financial backers include the tech-focused investment arm of LVMH founder Bernard Arnault’s family, grew more than 40% by transaction value in the first quarter, co-Chief Executive Officer Tim Stracke said in an interview.