Zenith, founded in Le Locle in 1865, is best known for creating the El Primero in 1969 — the world's first integrated automatic chronograph movement. The El Primero operates at 36,000 vibrations per hour, enabling 1/10th of a second precision, and has been used by Rolex in the Daytona from 1988-2000. When Zenith management ordered the El Primero tooling destroyed during the quartz crisis, watchmaker Charles Vermot secretly preserved it — saving one of horology's great calibres.
Available below retail on the secondary market at 22% discount, this model offers exceptional value for buyers willing to purchase pre-owned. This pricing makes it one of the better value propositions in the chronograph watch category.
The WVS Value Score of 65/100 reflects the balance between this watch's specifications, brand positioning, and market dynamics. While not the highest-scoring watch in its category, it may offer advantages in other areas such as design, availability, or raw specification value.
The estimated annual cost of ownership is $680 per year, accounting for depreciation, servicing, and insurance. While this is higher than some alternatives, it should be weighed against the wearing pleasure and prestige the watch provides daily.
Understanding the true cost of owning a luxury watch requires looking beyond the purchase price. Our cost-of-ownership model calculates the annual net expense of keeping the Zenith Chronomaster 03.3200.3600/21.M3200 on your wrist, factoring in three key components.
First, depreciation: based on historical pricing data for this reference and similar Zenith models, we estimate annual value change at 6%. This depreciation rate is typical for this price segment and brand positioning. Second, servicing: Zenith recommends periodic maintenance to ensure accuracy and water resistance. We amortize the estimated service cost across the recommended interval, arriving at $80 per year. Third, insurance: at approximately 1.5% of market value, annual insurance costs $120 to protect against theft, loss, or accidental damage.
Combining these factors yields a net annual cost of $680. That's roughly $1.86 per day — comparable to a daily coffee habit.
Estimated market price trend based on aggregated public listing data. Prices reflect average asking prices for complete sets in excellent condition. Updated monthly.
Our proprietary score rates every luxury watch on a 0-100 scale across five dimensions. Scores above 85 indicate exceptional value retention and market positioning. The formula is transparent and weight-based.
When considering the Zenith Chronomaster 03.3200.3600/21.M3200, it helps to understand how it compares to alternatives in the chronograph watch category. The most affordable alternative is the Omega Speedmaster Professional Moonwatch at $6,000 — saving you approximately 25% compared to the 03.3200.3600/21.M3200. However, the 03.3200.3600/21.M3200 justifies its premium through stronger brand recognition and resale performance. The highest-scoring alternative is the Omega Speedmaster Professional Moonwatch with a Value Score of 76/100, slightly above the 03.3200.3600/21.M3200's 65/100. The comparison table below provides a detailed side-by-side analysis of all key metrics.
| Watch | Market Price | Size | WR | Own/Yr | Score |
|---|---|---|---|---|---|
| Zenith Chronomaster 03.3200.3600/21.M3200 | $7,000–$9,000 | 41mm | 50m | $680/yr | 65 |
| Omega Speedmaster Professional Moonwatch 310.30.42.50.01.001 | $5,500–$7,000 | 42mm | 50m | $549/yr | 76 |
| Omega Speedmaster Professional Moonwatch 310.32.42.50.01.002 | $5,200–$6,800 | 42mm | 50m | $530/yr | 76 |
| Omega Speedmaster Professional Moonwatch 310.30.42.50.01.002 | $6,000–$7,500 | 42mm | 50m | $586/yr | 75 |
| Breitling Navitimer AB0137211B1A1 | $7,000–$9,000 | 41mm | 30m | $680/yr | 70 |
| Breitling Navitimer AB0139211B1P1 | $6,500–$8,500 | 41mm | 30m | $643/yr | 70 |
A chronograph is a watch with a built-in stopwatch function, activated by pushers on the case side. Originally developed for timing horse races and scientific experiments, modern chronograph watches appeal to those who appreciate mechanical complexity and sporty aesthetics.
Important chronograph features include the type of movement (integrated vs modular), number of sub-dials (typically 2 or 3), column wheel vs cam-actuated mechanism, flyback capability, and chronograph running time. Column wheel chronographs are generally more refined but more expensive to service.
Chronographs range from dress-appropriate (thin case chronographs like the JLC Master Chronograph) to sporty and bold (Breitling Navitimer, Hublot Big Bang). Case thickness is a key consideration — chronograph movements add 2-4mm compared to time-only calibres.
Zenith watches offer outstanding mechanical substance at competitive prices. Availability is good through authorized dealers, and discounts of 15-25% are achievable. The Chronomaster Sport (Rolex Daytona's spiritual sibling) and Defy Skyline represent the best current values in the lineup.
The El Primero remains Zenith's signature movement after 55+ years of continuous production. Modern iterations include the El Primero 3600 with 1/10th second display and the Defy 21 with 1/100th second chronograph. All Zenith movements are manufactured in-house with a focus on high-frequency precision.
Service intervals are every 4-6 years with costs of $500-$900 for El Primero chronographs. Zenith's service is handled through LVMH group infrastructure. The high-frequency El Primero movement requires specialized service but the manufacturer has decades of experience with the calibre.
Zenith watches depreciate 25-40% from retail. The Chronomaster and Defy lines hold value best. Zenith represents one of the best values in pre-owned chronographs — you get one of the most historically significant movements in watchmaking at very accessible secondary market prices.
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| Ref | Variant | Retail | Score | Own/Yr | Market |
|---|---|---|---|---|---|
| 03.3200.3600/21.M3200 | Sport Steel/Black ◂ | $10,300 | 65 | $680/yr | $7,000–$9,000 |
Value Score 65/100 · $680/year to own · 94% retention