Portuguese football legend Cristiano Ronaldo has bought a stake in luxury timepiece marketplace Chrono24, joining LVMH boss Bernard Arnaut as a stakeholder in the company.
“As a long-term watch collector and regular user of Chrono24, it’s a pleasure for me to become a shareholder in the company now,” said the former Real Madrid and Manchester United striker in a press release.
“Chrono24 unites millions of watch lovers from all around the world to share in their passion, together – that global unification is something I know well and am thrilled to be a part of.”
The size of Ronaldo’s investment is not known, but in a Bloomberg interview, Chrono24’s co-chief executive Tim Stracke called it “a significant amount”.
Stracke also stressed that it wasn’t an endorsement or marketing deal.
“He gave money to us, not us giving money to him,” Stracke plainly stated.
Stracke said the CR7’s “proven passion for watch collecting makes him the perfect teammate as our company moves further into global expansion and our next chapter”.
Germany-based Chrono24, which reached more than nine million unique visitors per month, was valued at US$1bn following a 2021 investment round led by Arnault and a group of private equity investors.
Ronaldo’s watch collection
Ronaldo’s penchant for luxury timepieces is well known. He has promoted super high-end brand Jacob & Co. in the past.
Founded by American-Uzbeki designed Jacob Arabo (aka Jacob the Jeweler), Jacob & Co. watches can sell for hundreds of thousands of dollars.
CR7 wearing Jacob & Co timepiece – Credit: Ronaldo on Instagram
Ronaldo has also been seen wearing exclusive Rolex, Hublot and Bvlgari pieces.
His Bvlgari Octo L’Originale Tourbillion Blue piece, one of only eight ever made, retailed for US$708,000.
His Franck Muller Invisible Baguette Diamonds Imperial Tourbillon, which is set with 424 baguette diamonds and rubies, is estimated to be worth a whopping US$2mln.
Ronaldo’s whole collection is estimated to be worth over US$5mln.
Secondhand watch market dips
Prices for luxury watches on the secondary market are at their lowest point in over two years, according to the Bloomberg Subdial Watch Index.
Timepieces from Rolex, Audemars Piquet and Patek Phillipe, Breitling and others fell steadily throughout 2022 and 2023.
Luxury watch prices on the secondary market hit record highs in February 2022, due to a groundswell in alternative investment products such as watches and cryptocurrency amid a low interest rate environment and an abundance of Covid-era stimulus cheques.