Hamza Masood is the Business Development Manager at WatchCharts.com, which has kindly allowed us to share their monthly Market Updates.

————————————————

Last month saw the reemergence of a more mixed picture of market performance, with the WatchCharts Overall Market Index falling by -0.2%. Out of the Big Three, Patek Philippe prices fell the most in both the past month and past year, down 0.8% and 6.5% respectively.

Patek Philippe prices fell the most in both the past month and past year. Audemars Piguet prices were effectively flat and Rolex prices rose very slightly

However, Audemars Piguet prices were effectively flat in February, and Rolex prices rose very slightly, by 0.2%. This is the first time since September 2024 that we saw a positive trend for one of the Big Three brands (albeit a small one).

Interestingly, this trend really only holds true for Rolex, while Patek Philippe and Audemars Piguet prices have not seen a similar historical uplift in February (as shown in the chart below)

How is Watches & Wonders affecting Rolex prices?

The lead-up to Watches & Wonders, the biggest watch event of the year, has historically spurred greater interest in watches and had an uplifting effect on pre-owned prices. We see this trend reflected seasonally in the first few months of the year, and reported on this our March 2023 and March 2024 watch market updates.

Last year, for example, the effect was particularly pronounced due to speculation the Rolex GMT-Master II “Pepsi” may get discontinued. (Interestingly, there is little buzz around this topic this year despite the likelihood of discontinuation increasing).

The chart below shows the five-year trend of the WatchCharts Rolex Market Index, with each February of the last three years highlighted in gray.

Interestingly, this trend really only holds true for Rolex, while Patek Philippe and Audemars Piguet prices have not seen a similar historical uplift in February (as shown in the chart below).

February 2025 Performance by Brand

For most brands with index values greater than $3,000 (as shown below), last month saw a further decline in prices while only Zenith, Omega and Rolex saw price appreciation. Zenith prices have risen now for two months in a row, led mainly by watches from the Defy collection.

TAG Heuer had another month where prices declined over 2%, leading to its index value dropping below $3,000 and resulting in its omission from the chart above. The worst performing brand index in February was Hublot, falling nearly 3%.

Some of the best and worst performing collections of February are listed below. The Air-King collection had another strong month of positive performance, accompanied by the Daytona collection from Rolex. Overall, 20% of collections across all brands remained flat or up in the past month, slightly more than the 15% of collections in the same category last month.

With less than a month left to go before Watches & Wonders and the potential announcement of new models and collections by Rolex and most other brands in the watch industry, there is plenty to look forward to for watch enthusiasts.

* Hamza Masood is the Business Development Manager at WatchCharts.com. You can check out previous Market Updates at https://watchcharts.com/articles/category/dispatch and there are more market insights and analysis on their YouTube channel at www.youtube.com/watchcharts

You might also enjoy:

WatchCharts February 2025 Secondary Watch Market Update

WatchCharts December and Full Year 2024 Watch Market Update

So, You Want to Buy a Rolex? Well, Daddy-O, I’m here to Talk you Out of It!

10 Affordable Alternatives to Iconic Watches including the Rolex Submariner and Omega Moonwatch: The Lightweight Heavyweights!