The Calm Before the Storm? Here's the Latest Data on the Pre-Owned Luxury Watch Market

After months of steep declines, the pre-owned luxury watch market is finally catching its breath. Prices have stabilized, and the WatchCharts Index has recorded a token increase. Is this the calm before another storm?

According to WatchPro, the pre-owned luxury watch market has calmed down. After months of rapid declines, prices have finally plateaued. Furthermore, the WatchCharts Overall Market Index recorded a symbolic 0.2% increase. While this isn't much, in a world teetering on the brink of a major crisis, we can speak of the first signs of stabilization. But is it really so?

Pre-owned Swiss watch - Rolex Oyster License: Laurenz Heymann / Unsplash

Not long ago, the secondary market resembled a rollercoaster ride. After the pandemic boom and record-breaking 2021-2022 sales, a sharp decline followed. Now, however, the downward trend is flattening. Rolex and Patek Philippe , brands that have dictated the "watch investment" scene for decades, are starting to take the lead.

In the last six months, Patek has gained 2.7 percent and Rolex +2.0 percent.

Patek Philippe is clearly driving the market higher with its Aquanaut and Nautilus collections. The discontinuation of steel models like the Nautilus 5712/1A is driving up prices on the secondary market. Collectors know this is their last chance to get their hands on these world-famous watches.

Not all legends are performing equally well. Despite its iconic Royal Oak collection, Audemars Piguet saw a 4.9% decline. Vacheron Constantin's situation is even worse. The oldest and still operating manufacturer is losing the most – a staggering 11.3% in a single year. Even collections as elegant as the Overseas and Patrimony haven't escaped the declines.

Geopolitics is increasingly influencing the luxury watch market . Starting in August 2025 , Swiss watches will be subject to a 39% tariff imposed by Donald Trump . If the tariff isn't lowered, new watch models will likely become more expensive, and customers will likely turn to the second-hand market. In short, pre-owned watch prices could rise further, becoming an attractive alternative to increasingly expensive new watches. The question remains: for how long?