Celebrities Can't Stop Betting on the Secondary Market
Super‑rich celebrities are increasingly channeling their wealth into the secondary market for luxury watches, often backing pre‑owned watch platforms that have struggled to achieve profitability. Investments have ranged from Roger Federer’s rumored stake in Chronext, which faced layoffs and a near‑collapse before surviving, to high‑profile backers such as Tom Brady, John Mayer, and Cristiano Ronaldo supporting Hodinkee and Chrono24. While Hodinkee was sold for a fraction of its earlier valuation and suffered significant staff cuts, Chrono24 managed to avoid inventory risk but still reduced its workforce dramatically after a market downturn. Newer ventures continue to attract star investors despite ongoing losses. Los‑Angeles‑based Bezel has drawn funding from Kevin Hart, John Legend, J Balvin, and others, with its co‑founder asserting that profitability is now within reach as the company scales and improves efficiency. Established players like WatchBox and WristCheck have also benefited from celebrity backing, with investors such as Michael Jordan and Jay‑Z seeing more promising returns as these platforms consolidate and expand their presence in the luxury watch resale market.
Buying Time Analysis: The story highlights how high‑profile celebrities are pouring money into the volatile secondary watch market, underscoring the financial risks and broader industry implications of celebrity‑driven investments in luxury resale businesses.
