Secondary Watch Market Trends: Used Luxury Watch Prices Rise as Demand Stabilizes
The global secondary watch market is showing signs of a structural reset after several years of declining prices. According to data from Morgan Stanley and WatchCharts, used watch values rose modestly in the final quarter of 2025; this represents the first positive quarterly performance since the market correction began. While the used segment remains smaller than the primary retail channel, this shift suggests the market is transitioning from volatility toward a more sustainable equilibrium.
Rather than signaling a return to speculative excess, the recent improvement reflects a more deliberate and value driven buyer base. Collectors and first time buyers alike are approaching the market with greater price discipline; they are focusing on long term desirability and brand credibility rather than short term momentum.
Wide Ranging Recovery for Luxury Brands
The late 2025 rebound was not confined to a handful of elite manufacturers. A majority of tracked brands recorded quarterly price gains; this indicates a wide ranging recovery across the secondary watch market. Patek Philippe stood out as a top performer, supported by continued demand for its sports collections and heightened interest in newer product introductions. Several mid level brands also posted meaningful improvements; this reinforces the idea that buyer confidence is returning beyond the very top of the luxury hierarchy.
This turnaround effectively ended a multiyear streak of quarterly weakness. While overall price growth across 2025 was uneven and largely concentrated in the latter half of the year, the trend suggests renewed engagement from buyers who view secondary pricing as a reliable indicator of brand strength and market sentiment.
Value Retention and Price Stability
Despite recent gains, resale performance remains uneven across the industry. Only a small group of manufacturers, most notably Rolex, Patek Philippe, and Audemars Piguet, consistently trade above original retail prices in the secondary watch market. Outside of these names, many watches continue to sell at discounts of 30 percent or more relative to boutique pricing.
Rolex in particular showed stable pricing toward the end of the year; this reinforces its reputation as a dependable store of value rather than a speculative asset. For many mid level brands, rising secondary prices appear less about investment potential and more about buyers seeking price efficiency as primary retail prices continue to rise.
Global Retail Expansion and the 2026 Forecast
The evolution of where used watches are sold offers additional insight into market maturity. Established secondary dealers are expanding into high traffic physical retail environments; this includes international airports and travel hubs. Used Rolex concessions operated by trusted dealers have begun appearing in major locations such as New York, Las Vegas, and the Middle East; this places authenticated watches directly in front of a global, mobile consumer base.
These travel retail locations offer practical advantages for buyers; these include duty free pricing and reduced tax exposure for departing passengers. The growing presence of used luxury watches in such settings underscores a shift in perception; secondary watches are no longer niche or purely online purchases but are becoming a normalized part of the global luxury retail ecosystem.
External economic forces are also shaping market behavior. Entering 2026, many major brands implemented retail price increases driven by precious metal costs and the strength of the Swiss franc. As the cost of a new watch rises, the appeal of the secondary watch market naturally increases; this is especially true for gold models where raw material costs have raised the pricing floor across the industry. Looking ahead, analysts expect transaction volumes to continue growing, supported by wider retail access and a more informed, pragmatic buyer base. While the speculative frenzy of the post pandemic years has faded, the market now appears to be entering a more durable phase defined by transparency and intentional collecting.
