The luxury watch market has passed through a period of turbulence in recent years, with a decline that began in 2022 and only partial signs of recovery in 2024. Below we examine the current state of the market, the brands most affected, the outlook ahead, and the key factors influencing the sector.

Is the luxury watch market recovering in 2024?

The luxury watch market is showing mixed signals. After a prolonged period of decline, September 2024 saw a slight general rise in prices, yet it is too early to speak of a consolidated recovery.

Which luxury watch brands have recorded an increase in value?

Brands such as Rolex and Patek Philippe have seen modest gains, driven by strong demand for iconic models such as the Day-Date and the Nautilus. However, the upturn has been limited and uneven.

Did Audemars Piguet suffer a decline in 2024?

Yes, Audemars Piguet recorded further falls, in contrast to other brands that benefited from a modest recovery.

Why is the luxury watch market struggling to recover?

One of the principal issues is the oversupply on the secondary market, a legacy of the speculative bubble of 2022. This has placed sustained downward pressure on prices and dampened demand.

How has the pre-owned luxury watch market evolved?

The time required to sell pre-owned watches has lengthened compared with previous years, signalling a cooling of buyer interest and a growing volume of unsold stock.

Will the luxury watch sector return to stability in the near term?

Despite modest progress in certain collections and among select brands, the overall picture remains uncertain. The overhang of inventory and the uneven performance across the industry suggest that lasting stability has not yet been achieved.

What is the outlook for the luxury watch market over the coming months?

The outlook remains cautious. The sector may evolve gradually, driven by a handful of successful models and a measured reassessment of the market as a whole.

Conclusion

The luxury watch market remains in a phase of adjustment, with limited signs of recovery and significant divergence across brands. For collectors and investors alike, monitoring trends closely and evaluating purchases with due diligence remains essential. Engaging an independent financial adviser allows one to make the most informed decision.