The price increase for luxury watches reached its peak between 2020 and 2022. Since then, prices have corrected significantly in some cases. At today's levels, attractive purchase options are once again available. For many watch enthusiasts and those who primarily wanted to make money with them, the challenge was not to decide on a watch, but to be able to buy it at all. Most watches from Patek Philippe, Rolex, Audemars Piguet, and Vacheron Constantin were almost impossible to obtain at the official retail price. This was especially true for sports models such as the Patek Philippe Nautilus or Aquanaut, Audemars Piguet Royak Oak, Vacheron Constantin Overseas, Rolex Daytona, Datejust, GMT-Master 2, and many more.
The waiting lists grew longer and longer, and many people asked themselves: “If only I had bought one of these watches earlier, when the hype wasn't so big and the prices were lower.”
Today, the watch market looks different and more attractive to collectors and new buyers. Many watches from the brands mentioned above are available again in boutiques and can even be purchased pre-owned at market prices below the official retail price. Those who were previously annoyed at having missed the opportunity now have many attractive options to buy a coveted luxury watch. Possibly even at a price below the retail price.
For decades, official retail prices for luxury watches have been rising steadily by an average of 3 to 5% per year, with even stronger increases in recent boom years. This long-term trend has not changed – official retail prices continue to rise year after year. If the situation surrounding US tariffs is not resolved quickly and the threatened tariffs of 39% are not reduced, it can be assumed that luxury brands will raise prices not only in the US market but globally.
Changes have primarily occurred in the secondary market, i.e., the trade of pre-owned watches at market prices. The price correction after 2022 currently presents attractive buying opportunities that have not been seen for years. For buyers, this means that they can now purchase watches from top brands at the official retail price in boutiques or even below retail prices pre-owned. Exactly the Opportunity that many buyers craved for three years ago.
If you purchase your next watch now and finance it, you effectively secure today's purchase price. If retail prices and market prices for watches rise in the future – which is to be expected from a historical perspective – you can be assured that you have purchased your watch at an attractive price. At the same time, you can enjoy owning the watch today and experience all the positive aspects that come with it.
In a recent interview with the Handelsblatt newspaper, Chrono24 emphasized that global demand for luxury watches is picking up again and prices are slowly rising. This suggests that the current attractive price level, and especially the supply of watches below the official retail price, may not last too long.
However, the value of a luxury watch is not just the rational factor that enthusiasts and buyers consider. Emotional appeal is often the main factor. Watches can have emotional value for their owners and are often prized for their aesthetics and craftsmanship. Buying a watch at today's price, especially if it is below the retail price, is not only an opportunity to acquire a piece of watchmaking artistry, but also a decision that may prove financially wise in the years to come.
The market for luxury watches has always been subject to fluctuations, just like the stock market and other investments. However, history clearly shows that retail sales prices and market prices rise in the long term. The current situation could therefore present an attractive opportunity to purchase many interesting watches from top brands at retail prices or even below at market prices. For anyone considering starting their watch journey or enthusiasts expanding their existing collection, now is certainly an attractive time.