Why Rolex, Patek Philippe, and Audemars Piguet Lead the $26.6 Billion Pre-Owned Watch Market
The secondary watch market is estimated at 22 billion Swiss francs, or about $26.6 billion, and is growing 8 to 11 percent annually, driven in part by digital sales. Rolex, Audemars Piguet, and Patek Philippe account for 61 to 62 percent of its value, compared with 45.5 percent of primary-market retail value. Their dominance rests largely on a few highly sought-after models, including the Rolex Daytona and GMT-Master II, and Patek Philippe’s Nautilus and Aquanaut; some Rolex Daytona buyers still pay premiums of 40 to 60 percent over retail. Certified pre-owned programs strengthen buyer trust, with Rolex’s program expected to approach 1 billion Swiss francs in transactions by year-end and Audemars Piguet having recently launched its own. Younger buyers’ greater willingness to buy and resell watches may further expand the market, which could surpass primary sales between 2034 and 2038. Independent watchmakers remain a small share of secondary-market transactions, at roughly 1 billion francs out of 23 billion.
Buying Time Analysis: Rolex, Audemars Piguet, and Patek Philippe account for over 60% of secondary watch market value, showing how demand for a handful of coveted models and certified pre-owned programs is reshaping the industry.
