April 2025 WatchCharts Market Update: Demand for the Most Desirable Brands Remains Strong
by Hamza Masood
Hamza Masood is the Business Development Manager at WatchCharts.com, which has kindly allowed us to share their monthly Market Updates.
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What Happened in March 2025?
Secondary watch market prices saw a slight improvement in March, offering a respite from five months of steady price declines between October 2024 and February 2025. The WatchCharts Overall Market Index improved by +0.5%, Rolex prices improved by +1.0%, and Audemars Piguet prices improved by less than one half of one percent. Meanwhile, Patek Philippe prices dropped by less than -0.1%.
The improvement in market conditions in March does not come as a complete surprise, as we saw similar periods of temporary stabilization in the first quarters of 2024 and 2023 (largely fueled by buzz around new releases and discontinuations at the biggest watch industry event of the year, Watches & Wonders).
Mixed Performance by Brand in March 2025
We also saw more of a mixed picture in terms of performance by brand, although more brands saw prices fall than rise (those with index values exceeding $3,000 are shown below).
Breitling was the best performer, appreciating by +1.5% while Chopard prices also rose by more than +1%. The worst performers in March were Piaget and Blancpain, both dropping by more than 2%.
A Shift in Market Dynamics in 2025 so far
Despite mixed results in March, secondary prices of all brands priced above $3,000 – except Rolex – fell in the first quarter of 2025. Rounding out the Big Three, Audemars Piguet (ranked second) and Patek Philippe (ranked in the top half) also performed relatively well, while many other brands saw prices fall significantly.
This is a clear shift in market dynamics from 2024 (where the Big Three were more in the middle of the pack) and 2022-2023 (where the Big Three led the decline of secondary watch prices).
So far in 2025, we’re seeing that the demand for the most desirable brands remains strong, particularly as secondary prices fall towards (and in some instances, below) retail and primary market availability improves. However, this is likely coming at the expense of the other brands.
The good news is that if you’re in the market for a pre-owned watch from a manufacturer that’s not Rolex, Patek, or AP, you’re probably getting a better deal today than at any point in the past five years (especially when you account for inflation).
So far in April, Prices are Falling Again
As we approach the end of the month, we can see the return of a gradual decline in prices that has generally characterized the secondary watch market over the past few years. In the first 20 days of April, the overall market is down -0.2%, with prices of most brands continuing to fall (although notably Patek is up +0.5%).
Stay tuned for the full picture of the watch market performance in April in next month’s update.
* 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
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