Prices for used and pre-owned watches rose during the fourth quarter, the first broad-based quarter-over-quarter increase in several years, as major groups, including Richemont, Swatch Group, and LVMH watch brands, enjoyed gains and the secondary watch market strengthened. Data compiled by WatchCharts and compiled in a report by investment bank Morgan Stanley shows that prices for used watches rose by 1.9% during the fourth quarter of 2025 compared to the previous quarter, with 21 out of 35 tracked brands posting gains.
The widespread increases across brands ranging from TAG Heuer to Vacheron Constantin, Longines, and Blancpain snap a three-year streak of broad quarterly weakness. However, the gains at the major publicly-listed group brands were relatively small, and the so-called ‘blue-chip’ privately held groups and brands, including Rolex, Patek Philippe, and Audemars Piguet, remained the primary drivers of secondary watch market strength. The used watch price rises also reflected “aggressive” retail price increases by the biggest brands, according to the Morgan Stanley report, and value retention remained weak for the vast majority of brands with only the ‘Big Three’ of Rolex, Patek and AP continuing to trade above retail on the secondary market while the majority of other brands and models are trading at a discount of 30% or more compared to retail prices.
Andy Hoffman
2026-01-21 20:00:00