Getty Images/Alex Segre/UCG/Universal Images Group 

The luxury watch market saw a massive boom in early 2022, collectors and investors racing for resale as the market hit record-breaking heights in March and April. But as all bubbles must pop, so too did the luxury watch market. The rise was quick– spurred by decreased supply and availability, and fueled by FOMO. The fall was quicker– between stagnating supplies and increased resale prices, investing in luxury watches lost its appeal to those who were in it for the money, and thus prices fell back down as resellers tried to clear their inventory and move on to the next big thing. This downward trend didn't stop, making it a great time to be a collector. It wasn’t until 3 years after the spike, in early 2025, that any sort of upward trend in the market occurred. 

While the record-breaking peak of 2022 is unlikely to ever be seen again, there seems to be a steadily growing market now, especially among Rolex, Audemars Piguet, and Patek Philippe. Even during the lowest points of luxury watch sales, these 3 brands maintained their positions as top-sellers, and now that the secondhand market is rising once more, they remain at the top.

Getty Images/Stefanie Keenan  Getty Images/Adrian Gaut

WatchCharts Overall Market Index - 5 Year

The WatchCharts Overall Market Index is a gauge of secondhand watch market price trends. It shows the average secondhand market price (in USD) over time. There are significant variations in the prices of luxury watches, with the most expensive from their dataset passing $340,000 USD ($465,000 CAD), and their cheapest sitting just under $2000 USD ($2700 CAD). 300 watches across 10 brands (30 per brand) are weighted based on their actual transaction value, not just which ones are listed, but which ones sell. Rolex sweeps that category; the top 15 highest weighted watches are all Rolex models, interrupted by 1 from Patek Philippe, then another 15 from Rolex. So, of the 30 Rolex models on the list, they can all be found at the very top of the best-sellers list. (If you’re curious about the highest weighted watch on the list, that would be Rolex’s Datejust 41.)

Rolex

After Rolex’s sweep, the following 22 models in the list are from Patek Philippe. At this point, we’re past the top 50, and brands begin to vary more. The first watch from Audemars Piguet on this list is in spot 64, and every one of their 30 models is from the Royal Oak or Royal Oak Offshore series. Even though they are lower in the overall rankings for their units sold, the cheapest model still goes for nearly $29,000 USD ($40,000 CAD). 

A significant amount of the secondhand watch market is sustained by collectors and investors; models that are no longer being produced are in higher demand on the secondhand market since there is no way to buy them new. Rare and vintage pieces are generally going to sell for the highest amounts, but just because a watch is old doesn’t automatically make it valuable. A mass-produced watch from a department store isn’t going to sell for more than a current model from a luxury brand. Knowing the value of your watch, or having a way to find out, is key for collectors or those trying to get into selling/buying secondhand watches.

In the past year, there has been a steady increase in the secondary watch market value. With the US Administration placing a 39% tariff on Swiss goods, including luxury watches, in the USA, there is a huge incentive to buy secondhand. Increased US prices will eventually filter into the secondary market, but for now, the easiest way for Americans to avoid paying tariffs is to keep it local. Or– at least as local as you can get.

WatchCharts Overall Market Index - 1 Year

For most, buying secondhand is a great way to invest in a timeless piece for a lower price point, and it seems that people are currently leaning towards classic pieces from notable brands. A quiet display of luxury and status. So while the luxury watch market was volatile for quite some time, it seems to be levelling out now, and collectors can breathe easier knowing they will (probably) never have to experience another insane rise-and-fall again.