Chrono24 Report: Market Trends Two Weeks After the Swatch x Audemars Piguet 'Royal Pop' Launch

Chrono24, one of the world's leading online marketplaces for luxury watches (headquartered in Karlsruhe, Germany; CEO: Holger Felgner), has released internal data regarding market prices and supply-demand balance two weeks after the launch of the Swatch x Audemars Piguet 'Royal Pop' collaboration.

Two weeks have passed since the launch, and the initial premium is gradually fading. According to Chrono24 data, the average resale price has fallen from the immediate post-launch figure of approximately €1,440 (~¥270,000). While most still trade above the retail price of €385–€400 (~¥57,200–¥61,600), the majority are now trading below €1,000 (~¥180,000).

"The highest trading volumes occurred during the first weekend when demand peaked. While the premium has thinned, it is still trading above retail price. For those who want to actually wear and enjoy the watch rather than resell it, this is a reasonable level," says Balazs Ferenczi, Head of Brand Engagement at Chrono24.

Demand passing its peak, yet interest remains higher than ever. Since the launch, purchase inquiries have been stabilizing. Daily inquiries peaked at 2.9 times the levels recorded during the launch of the MoonSwatch in March 2022, and have dropped to approximately 1.4 times after two weeks. While the initial frenzy has settled, interest in the Royal Pop remains high, reaching levels never seen in any previous Swatch collaboration.

Are new listings decreasing after two weeks? During the launch week, prices surged rapidly due to high demand against limited supply. However, as demand settled, prices followed suit, and the number of new listings has concurrently decreased. In the days following the launch, the Royal Pop was listed at nearly twice the pace of the 2022 MoonSwatch. Two weeks later, that volume has decreased by over 80% from its peak.

Following the same pattern: The first wave of resale-driven listings has passed. Previous Swatch collaborations have repeated similar patterns: after an initial surge, supply catches up, and the first wave of resales settles. The Royal Pop is following the same path. For color variants, the monochrome 'OCHO NEGRO' remains the leader in both purchase inquiries and successful transactions.

Another pattern observed in 2022 is repeating: while prices for many variants have decreased, the blue 'LAN BA' continues to trade at approximately €1,600 (~¥300,000). Similarly, with the MoonSwatch, the 'Mission to Neptune' maintained high prices long after launch.

Colorful watches are increasing in the market. The Royal Pop features eight color variations. Vivid colors have become a trend in the watch market over the last few years. In 2018, about one in six watches sold on Chrono24 had a colored dial. Today, that ratio is one in four, an increase of about 16% over the past five years. Blue is the most popular, while green and pink have seen several-fold growth since 2018.

This trend is most prominent in both high-end and entry-level segments. In the entry-level segment, popular models like the Royal Pop, Seiko Presage, Oris Aquis, and Doxa Sub often feature colorful dials. The trend is equally established in the high-end segment, seen in iconic models like the Patek Philippe Nautilus and Vacheron Constantin Overseas.

Additionally, on June 2, Audemars Piguet announced six colorful Royal Oak Offshore Chronograph models, featuring fresh summer colors like turquoise blue, yellow, orange, and pink.