The Secondary Watch Market Continues to Slide — Even as Prices Rise on the Primary Side

Luxury watch prices on the secondary market have now declined for 12 consecutive quarters, with Q1 2025 showing a modest drop of 0.4%. Despite price hikes on the primary market—Swatch Group recently raised U.S. prices by 10%—watches from brands like Omega, Cartier, IWC, and Tudor are selling at steep discounts of 30–40% below retail. Only Rolex, Patek Philippe, and Audemars Piguet continue to hold value above retail, though their premiums are shrinking. Rising inventory levels, weak demand, and macroeconomic pressures—including high gold prices, a strong Swiss franc, and U.S. tariffs—are all contributing to pricing challenges across the industry.

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