Swiss luxury watchmakers are quietly setting off a price revolution. As global giants like Rolex, Patek Philippe, Cartier, and Omega hike retail prices in the U.S., more buyers—many of whom once swore by brand-new timepieces—are pivoting toward the pre-owned market. According to analysts at Morgan Stanley, this shift is not only reshaping how consumers approach luxury but is also breathing new life into a secondhand watch industry that had been languishing in decline.
At the heart of this price shift is the United States' recent decision to impose a 31% tariff on imported Swiss goods. As Switzerland remains the epicenter of haute horology, this policy has hit nearly every major luxury watch brand. To offset the additional costs, most brands began raising U.S. retail prices in Q2 2025, effectively increasing the barrier to entry for collectors and everyday buyers alike. A base-model Omega Seamaster that once sold for around $7,000 is now approaching $9,000, and even entry-level Patek Philippe or Cartier watches have surged into the five-figure range.
Yet the market is adapting swiftly. Data from WatchCharts indicates that the pre-owned watch market experienced only a marginal decline of 0.3% in Q2—marking the smallest drop in over three years. Behind this stabilization are four blue-chip brands: Rolex, Patek Philippe, Omega, and Cartier. These time-tested names continue to command consumer trust, drawing savvy buyers toward the pre-owned segment, where prices remain more accessible and many models offer strong investment potential.
More than ever, affluent individuals are incorporating luxury watches into their asset portfolios. These watches are no longer mere fashion statements—they’ve become inflation-resistant, globally recognized value stores. Actor Ryan Reynolds, for instance, famously bought a Rolex GMT-Master II “Pepsi” in 2020 for around $13,000. By the 2023 market peak, that same model was fetching north of $24,000 in the secondary market. Even after recent corrections, it still holds strong around $18,000 to $20,000—a testament to the enduring power of iconic models.
Secondary platforms are riding this wave with enthusiasm. Bob’s Watches, a major player in the U.S. resale space, reported a 20% surge in sales between March and May 2025. CEO Paul Altieri likened the experience to “running a candy store,” explaining that Rolex watches, when available in inventory, are snapped up almost instantly. Today’s consumers, he noted, are becoming more strategic, gravitating toward proven models with documented resale value rather than blindly chasing the newest releases.
However, this rebound is far from universal. Brands without strong market recognition or historical value—such as Hublot, Panerai, or TAG Heuer—are still seeing noticeable price declines on the secondary market. What’s emerging is a clear tiered structure: at the top are ultra-blue-chip names like Rolex and Patek Philippe; mid-tier brands like Omega and Cartier enjoy solid performance for specific models; while niche or design-driven brands without resale credibility are struggling to maintain their value.
The 31% import tariff, while challenging for retailers, may in fact accelerate the recovery of the secondary market. Morgan Stanley analysts suggest that rising retail prices will push more consumers toward the pre-owned space—not only collectors and enthusiasts, but also younger professionals seeking smart, long-term purchases. A gently worn Rolex Explorer, for example, might cost 30–40% less than its new counterpart, offering an appealing entry point into the world of luxury timepieces.
Outside of the U.S., similar momentum is building. London and Paris auctions continue to report high sell-through rates for Rolex and Patek Philippe, with over 90% of lots finding buyers. Although not all models are achieving 2022 peak prices, demand for iconic pieces remains robust, signaling that the luxury watch market—though volatile—is still deeply liquid for the right brands.
This shift in consumer behavior also reflects a broader evolution in how luxury is defined. Today’s buyers aren’t simply seeking aesthetic satisfaction—they’re considering value retention, liquidity, and long-term utility. Especially for those in high-tax jurisdictions or managing substantial portfolios, a Rolex or Patek Philippe can be more than just a watch; it’s a wearable asset with global marketability and historical credibility.
Auction houses and luxury consultants now widely agree that the market is entering a new era of stratification. For smart investors and collectors, the key is understanding this hierarchy and aligning purchases with brands and models that offer enduring value. Buying the wrong watch could mean sinking money into a depreciating accessory; buying the right one could mean quietly outperforming the stock market over time.
In this climate of rising prices, tariff pressures, and shifting demand, the wristwatch has become more than a symbol of taste—it’s a financial instrument. Those who take the time to study the market, understand the tiers, and make informed acquisitions are finding themselves ahead of the curve. For newcomers and veterans alike, now may be one of the most opportune moments to invest—not just in a watch, but in an asset that tells time and holds it.
So the next time you pause in front of a boutique display, wondering whether a $12,000 Rolex is worth it, consider this: that same watch, properly cared for, may outlive every tech stock in your portfolio—and still look good doing it.