After months of declining values, Rolex watches saw their first price increase since September 2024, suggesting a potential stabilization in the luxury watch market. According to WatchCharts, Rolex prices rose by 0.2% in February—a modest but notable shift that could indicate the end of a prolonged correction phase.
The broader luxury watch market, however, remains uneven. The WatchCharts Overall Market Index dipped by 0.2% last month, continuing a gradual decline, though at a slower pace than in previous years.
Diverging Trends Among Top Swiss Brands
Among the “Big Three” Swiss watchmakers, Rolex stood alone with positive growth. Patek Philippe prices fell by 0.8% in February, extending a year-long decline of 6.5%. Audemars Piguet, meanwhile, remained stable, hinting at possible market equilibrium.
Within Rolex’s lineup, the Air-King collection led gains with a 1.0% increase, followed by the Daytona, which rose by 0.8%. This selective performance suggests collectors are becoming more discerning in their purchases.
Watches & Wonders Influence on Market Sentiment
The uptick in Rolex prices aligns with historical trends ahead of Watches & Wonders, the industry’s premier event set for April. Analysts note that Rolex often sees a pre-event price boost, driven by speculation over potential model updates or discontinuations. Patek Philippe and Audemars Piguet, however, have not historically mirrored this pattern.
Mixed Performance Across the Industry
Omega and Zenith also posted gains, with Omega’s Seamaster collection rising by 0.7% and Zenith’s Defy line performing strongly. On the downside, Hublot faced a sharp 3% decline, while TAG Heuer’s index dipped below $3,000.
Despite secondary market fluctuations, Rolex maintains dominance in primary sales, holding a 30% share of the luxury watch sector, per Morgan Stanley and LuxeConsult. This enduring influence reinforces its role as an industry benchmark.
Implications for Global Collectors
For Chinese buyers—a key segment of the luxury watch market—the stabilization in Rolex prices may signal a re-entry point after years of cautious secondary market activity. While China-specific data was not detailed in the report, analysts note that collectors in the region have been hesitant since late 2022.
The February figures mark a psychological turning point for the secondary market, suggesting that prices may finally be adjusting after years of post-pandemic volatility.
