Cristiano Ronaldo is buying a stake in online watch trading platform Chrono24 GmbH, giving the football star financial exposure to the pre-owned market for luxury timepieces.
“It was important for us that it is a significant amount,” Co-Chief Executive Officer Tim Stracke said in an interview. Well known for a diverse personal luxury watch collection valued in the millions, Ronaldo has been spotted wearing brands ranging from Rolex to more blingy timepieces from Jacob & Co., Girard-Perregaux and Franck Muller.
After an unprecedented surge in 2021 and the first quarter of 2022, prices for the most in-demand luxury watches from Rolex, Patek Philippe and Audemars Piguet have fallen sharply and are close to two-year lows, according to data from Subdial, another online trading platform in the UK.