A JOURNEY THROUGH TIME...
Foundation and Early Development – 2002
Zeitauktion was established in 2002 as a sole proprietorship. In 2008, the company transitioned into Zeitauktion GmbH. Over the years, this family-run business grew steadily, reaching 25 employees by 2019.
Strategic Partnership – 2019
In 2019, Zeitauktion GmbH entered into a significant partnership by selling 67% of its shares to Chrono24—a subsidiary of MPN GmbH and the world’s largest trading platform for luxury watches. This strategic move aimed to foster rapid growth and leverage synergy effects. Through integration into Chrono24’s corporate structures, Zeitauktion benefited from more professional processes and an expanded management approach.
Startup-Like Growth Phase (2019–2022)
Between 2019 and 2022, Zeitauktion experienced a period of extensive expansion, with the workforce quadrupling from 25 to 110 employees. During the same timeframe, annual revenue rose from EUR 6.7 million to an impressive EUR 49.5 million in 2022. In addition, the company’s facilities grew to three locations, spanning over 2,700 m² of office and workshop space.
Industry Expertise and Experience
The collaboration with Chrono24 enabled Zeitauktion GmbH to develop professional structures and optimized processes. A clear organizational structure was established, covering key departments such as Purchasing, Watchmaker Workshop, Photography and Marketing, Customer Relations, Logistics, IT/Software Development, and Accounting. Advanced data analysis methods and models provided critical insights that substantially enhanced our strategies and business operations.
Realignment Starting in 2023
Changing market conditions—and Chrono24’s consequent strategic realignment—created an opportunity to continue developing Zeitauktion GmbH as an owner-operated business. While Chrono24 took over the Dresden site, the Chemnitz locations remained under the leadership of Zeitauktion GmbH.
Outlook
With 23 years of industry experience, a steadily growing watch market, and a highly qualified team, Zeitauktion is fully prepared to face the future with confidence.