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If you’re looking to buy or sell a luxury watch, there’s a good chance you’re already familiar with the Bezel app. With over half a billion dollars in listings from the most in-demand brands, Bezel not only has the watches you’re after but also provides peace of mind with a rigorous in-house authentication process. Not sure what you’re after, or looking for a rare or unique piece? Bezel’s concierge team can help you find and source your watch. Earlier this month, Bezel was excited to release the Watch Market Insights report for H1 2024, showcasing the latest trends in the watch market.

What’s hot in 2024?

So, what are consumers looking for in 2024? Bezel keeps tabs on which watches are selling, of course, but also which watches Bezel members “want” (a feature similar to a bookmark or favorite on other platforms). Members’ want lists may include watches they’re tracking to find just the right example or aspirational pieces they’re hoping to someday buy. Either way, the wanted records provide a great indicator of which watches are on the minds of consumers.

Breaking down the numbers, Rolex comes out on top of the want list, followed by Omega and Tudor. Stainless steel remains the hottest material, making up 78% of wants, followed by two-tone (8%) and titanium (6%). As always, Black is the go-to dial color, making up 42% of wants, followed by blue at 15%. Green is still holding strong with 6% of wants, demonstrating that it’s more than just a passing trend.

Though smaller case diameters are in the spotlight these days, watches 40-42mm in diameter make up 71% of wants, with 41mm taking the lead. Recent models comprise most of the wants, with 2021 being the most in-demand year, potentially offering strong value for consumers.

What we want and what we purchase may not always align, but on Bezel, wants do tend to correlate with sales, as Rolex, Omega, and Tudor took the top spots in both wants and sales. An interesting departure from last year, however, is that the top brands in sales in 2023 were Rolex, Omega, and Cartier, with Tudor bumping Cartier out of the bronze medal position. Rolex also took a slight dip from 40% of sales in 2023 to 37% of sales in 2024. In contrast, Tag Heuer saw a major jump this year, moving from outside the top 10 to the fourth most purchased watch brand in 2024. Why Tag Heuer? Bezel’s concierge team was receiving many requests for Tag Heuer models, so the team sent out requests to their extensive network of sellers in an effort to get more listings on the site. More listings meant more sales, and it appears that Tag Heuer’s new offerings are resonating with Bezel’s members.

Who’s buying?

Now that we’ve covered what people are buying, let’s dive into who is buying watches. This year, 70% of Bezel’s sales came from Gen Z and Millenials, with Gen Z having the highest AOV. “We think this is because of Gen Z’s comfort with online shopping, inclination towards premium products, and desire for unique, high-quality items that reflect their personal values and style,” said Bezel co-founder and CEO Quaid Walker. “And similarly with Millennials, who have been well-established in their careers and have the disposable income to continue to drive sales volume through consistent purchases.”

Given that most of Bezel’s members are young and first-time watch buyers, it makes sense that most of the watches sold on the site were produced in the last decade. Dig a bit deeper though, and an interesting trend begins to emerge. Though buyers may begin by purchasing modern watches, follow-up purchases tend to be of older and older watches. This is a trend that Bezel expects to continue, especially as Bezel’s multi-layer authentication process gives buyers confidence that all the parts and components of the vintage watches are authentic and period correct and functioning as expected.

Authentication and Rejection Rates

One of the greatest concerns — and rightly so — that buyers have when purchasing a luxury watch is authenticity. We hear plenty of stories of fakes and frankenwatches, but just how prevalent is this problem? Given that each and every watch that’s purchased on Bezel receives in-house authentication, Bezel can tell you just that. Before a watch is listed, the watch goes through a visual inspection, and then after each watch is sold on the platform, the seller is required to ship the watch to the Bezel headquarters for a multi-point, industry-leading authentication process. Not only does the team of experts ensure authenticity, it also checks for period correctness and full functionality of each watch.

In H1 of 2024, Bezel rejected almost a quarter (24%) of the listings submitted to the site. Not surprisingly, nearly half of the rejected watches were Rolex, followed by Cartier and Tag Heuer. The reasons for rejection are numerous. For example, an inauthentic bezel insert on a Rolex GMT-Master II Pepsi Reference 16710 was caught during a pre-listing review. Head of Watch Operations, Ryan Chong, explains, “From the images, the authentication team noticed the aftermarket bezel insert on this GMT-Master II. This listing was rejected before listing, and never made it onto our platform.”

While some inauthentic watches are easy to spot visually, changes made below the surface can only be found once the watch is in hand and the caseback is removed. Bezel’s authentication team found a swapped movement in a Patek Philippe Ladies’ Nautilus Reference 4700/51. “Operationally, the watch was working fine, but because the watch no longer had the original Patek Philippe quartz module, it altered the value and authenticity of the watch,” according to Chong. “Watches like this do not pass Bezel’s authentication standards and cannot be sold on our platform.”

To demonstrate just how thorough the authentication team is, Bezel even inspects the box and papers. While a Two-Tone Rolex Datejust 41 Reference 126331-0010 attempting to be sold on the site was fully authentic, the seller had “wiped” the warranty card and added a more recent date. “This is done to increase the value and desirability of the watch on the secondary market,” said Chong. “Because the watch being advertised did not match the watch being sold, it cannot be sent to the member who bought it.”

Every watch must be authentic to be sold on Bezel, but it also needs to function properly. Each watch is run through a series of tests, including pressure and timing tests, and ensuring that all complications work as expected. For instance, if you purchase a splits-seconds chronograph, the splits-seconds needs to split. Unfortunately, a Hublot King Power Foudroyante had exactly this issue. “Often, many of these watchmaking fixes are reasonably quick and inexpensive,” says Chong. “But when watches are complicated like this one, we can save the client from the frustration of a costly, complicated, and prolonged repair.”

What’s next?

Though Bezel has only been in existence for a few short years, it’s already made a massive impact on the luxury watch landscape. The app has over 1,000 5-star reviews and a 4.9/5 star rating on third-party platforms, thanks in large part to its authenticity guarantee and best-in-class experience for professional sellers. With hundreds of thousands of buyers streaming to Bezel every month, a dynamic pricing engine to help advise sellers on pricing, and a time to sell that’s half as long as other platforms, it’s no surprise that Bezel has become the go-to platform for sellers and buyers of luxury watches. As Bezel looks toward the future, the team will continue to focus on finding ways to improve the overall experience of buying and selling watches.

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