Surge for pre-owned watches

Sales of second-hand luxury watches will overtake the market for new models within a decade as buyers seek out scarce timepieces, according to Swiss-based industry analyst LuxeConsult


Market growth (US$ billions)

Rolex, Patek Philippe and Audemars Piguet account for more than 55% of value of pre-owned watches

100 
90 
80 						$85.25
70 						$84.00
60 
50 $50.14
40 
30 
20 $22.52
10 
0
   21		22 23 24 25 26 27 28 29 30 31 32 33


                                                
New luxury watches 
4% average growth rate

Pre-owned watches 
12% average growth rate

Rolex Cosmograph Daytona steel model 116500
Retail price (Jan 2023) $14,80
PRE-OWNED PRICE: $28,30


Sources: Bloomberg, Hodinkee, LuxeConsult 
Picture: WatchFinder & Co. 
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