All watches tell you the time. However, luxury watches define status! Owning luxury watches has always been a crazy investment option among watch lovers.
First of all, it’s a solid investment and a beneficial one. You see millionaires, business tycoons, and influencers wear luxury brands on their wrists. It’s not only out of a hobby, rather it’s an investment they make in their status. There are more reasons why you should invest in luxury watches (discussed later in the blog).
So, if you’re on the same page, luxury brand watches are just for you! Wanna take your status to the next level? Let’s wait no further and binge on!
Key Takeaways On Luxury Watch Market
Each watch brand has its own style and history of providing something appealing to its wearers.
- Rolex has timeless designs
- Hublot comes with cutting-edge innovation
- Audemars Piguet is precise
- Cartier is always artistic
- Patek Philipe reflects on your class
None of these brands tells you the time; rather, they state how your time is—your status! These brands are not for watch collectors alone but for anyone who loves a good branded watch.
Know the Luxury Watch Market Size
In 2023, the luxury watch market took a massive turnover of $48.10 billion and a projected turnover of $3.69 billion by the end of 2024. According to researchers, this revenue can hype to $134.53 billion by 2032.
A luxury watch brand symbolizes status more than just timekeeping This is one of the major differences between a normal-grade watch and a luxury brand watch.
As we look at the current stats and data, we can surely predict that the luxury watch market is going to expand and excel. Although, COVID-19 disrupted the market growth for a short time, sooner again the market reached its hype.
Here’s a listicle of the market growth of luxury watches over the period.
|
Year |
Sales Growth ($) |
|
2022 |
41.41 billion |
|
2023 |
48.10 billion |
|
2024 |
53.69 billion (predicted) |
List of Luxury Watch Brands (Our Top 7 Selections)
Combining luxury with craftsmanship, watch brands are all about class. Rolex, Patek Philippe, Omega, and Hublot are all top dogs of watches.
Rolex
Rolex is, without question, one of the most famous luxury brands. Hans Wilsdorf founded Rolex in 1905 in London and came to Switzerland in 1919. The company has some really iconic designs.
One would be the Submariner, which came out in 1953, becoming the primary look of diver's watches. Or the Cosmograph Daytona, which captured the essence of auto racing like no other. If you ask me, I would suggest the Rolex Datejust, as it’s super classy and has the aesthetics that suit my personality.
Hublot
Hublot’s more like the newer kids on the watchmaking block, only starting out in 1980. However, the splash it made in the luxury watch world is phenomenal!
What's cool about this brand is their "Art of Fusion" mantra. It all began with their founder, Carlo Crocco, who got the spotlight with his first watches. They were made of gold but had rubber straps, blending luxury with sporty vibes.
This mash-up totally set the trend for the whole industry, and Hublot still rocks that unique style today. You should definitely give Hublot Big Bang a try. It’s quite comfy to wear and has appealing looks.
OMEGA
Omega has been quite a trendsetter in the luxury watch world. It took the concept of minute repeaters and tourbillons into a wristwatch and invented co-axial escapement into its calibers.
However, all of these amazing features seem little to what they are probably best known for—the Speedmaster Professional, aka the "Moonwatch."
It was the first watch worn on the moon when NASA astronaut Edwin "Buzz" Aldrin took it on the Apollo 11 mission in 1969.
If you're planning to get an Omega, I personally recommend the Speedmaster. It gives that professional look, which I believe would look perfect on your wrists.
Panerai
Panerai was founded in 1860. This is another interesting luxury brand that took everyone’s attention. Initially, Giovanni Panerai opened a watch shop and school in Florence. The Italian military soon decided to make watches, and things took off.
The first model was the Radiomir. They named it after the special “glow-in-the-dark” material they used on the dial. It was originally made for guns but is perfect for underwater visibility.
The Luminor was their next success, and they came up with even better luminescence and a clever crown protection system to keep water out.
However, nothing gets compared with the Panerai Radomir. In my opinion, it’s one of the best luxury watches when it comes to vintage looks.
Patek Philippe
Patek Philippe is one of the spearheads in high-end watchmaking, starting in 1839. The brand devised many of the elaborate features and designs that permeate watches today.
The Stern family bought Patek Philippe in 1939. They have been bringing luxury values to people since then. It's today one of the most respected Swiss luxury watch brands. That's why Patek Philippe watches are among the most craved-for items in auctions.
Piaget
George Piaget first came up with this brand in 1874. He started off as a watchmaker in La Cote-aux-Fées. Although it is more renowned today for its jewelry, it initially focused on watches.
In 1957, Piaget created a stir by introducing their historic Caliber 9P, a mere 2mm thick. Since then, they have become world-renowned for their slim and understated design of watches and movements.
Vacheron Constantin
Vacheron Constantin, one of the oldest brands, was established in 1755 by Jean-Marc Vacheron and François Constantin. Their motto is quite unique, too: "Do better if possible, and that is always possible."
In 2015, they unveiled something incredible: the Ref. 57260 pocket watch. It has 57 different complications, making it the most complicated watch ever made.
Why Luxury Watches Are a Good Investment? (3 Major Reasons)
There are many reasons why luxury watches can be a remarkable investment. Here are some of the solid reasons:
Portable Asset
Having a luxury watch means carrying more of a treasure of its own. This ain’t just a watch but rather a symbol of your elegance and personality. Now, whether you just wear it proudly on your wrist or kept safely at home, it’s always there to remind you of its worth.
Long-Term Profitable Hobby
Here is the real icing: some luxury watches are smart investments!
Unlike other fancy properties that lose value, certain brand watches become more valuable. It means you can make some dough just by wearing your favorite watch daily! It's like turning your passion for watches into a profitable hobby.
Comfort During Harsh Economic Crises
Luxury watches usually exhibit a very strong ability to retain value. The best part? They aren’t tied to any whims of the stock market or any other volatile investments.
Even during COVID, when the entire stock market took a huge hit, the value of luxury watches dropped only about 8%; that's a far cry from the almost 20% that stocks took.
So, when the economy is in a ditch, you can expect your luxury watch to be a solid and valuable asset.
What Impacts The Resell Values?
Now, there are certain factors you need to know to understand what impacts the luxury watch resell values.
Brand Reputation
Imagine you invest in one of the luxury watches—Rolex, Patek Philippe, or Omega. Such brands have been in existence for many decades and definitely are the best quality-wise.
Now, when you buy a watch from such brands, you are sure it will be something special. This is why watches from such brands have generally held their value well over the years.
Rarity and Exclusivity
Now, let's talk about the watches that are one in a handful. You know, the sort that only a few hundred people in the world have. These are the super-rare and exclusive ones, which are worth a lot more.
A unique design or special features may make such watches stand out. Whatever the reason, having one of these rarities will certainly attract a fair price on the resale market.
Condition
As in any other thing you are trying to sell, the condition of the watch matters a lot. If the watch is all scratched up or has become a mugshot of its years of torture, it will not make as much of a price. However, if the watch has maintained a pretty good state and is still looking almost new, you can expect to get way more. Buyers always find a reason to pay more for a well-cared-for watch.
Completeness of Accessories
As mentioned above, it is common for a luxury watch to come with a whole host of accessories. It is like getting all fancy about a gift, or a long-term investment.
This is why the accessories accompanying a watch are essential to resale value. People are usually well aware that they are getting the full monty when they buy a watch. If they end up with all of the original accessories that come with their watch, they can sell it for more.
Market Demand
That applies to luxury watches as well. If a particular watch model sells like hotcakes this year, it will probably retain its value very well as it will be in demand.
Conversely, if no one wants a particular style or brand anymore, it may not command much value. So, if you decide to sell your watch, keeping an eye on what sells well in the market is a good idea.
Service History
Would you be more confident buying a used car if you knew it had regular services and maintenance? In a way, the same will happen with luxury watches.
If you can prove that your watch has been serviced and maintained properly throughout its existence, buyers will be more confident in shelling out the big bucks.
Know why? It’s because your watch is a part of history. So, keep all of your service records handy while you decide to sell.
Historical Significance
Then again, you are not selling just a watch but a part of history. Perhaps your watch has been worn by a famous celebrity or has been involved in a significant event. Regardless of what, most buyers like the idea of owning something with a cool story attached to it.
Market Conditions
This last factor brings up market conditions. If the economy is doing well and the tap is running open, you might expect a higher price for your watch. However, if times are bad, and everyone is squeezing their purse strings, you will probably have to put up with less. Just the way the cookie crumbles sometimes.
Frequently Asked Questions
How big is the luxury watch market?
The luxury watches market can be seen as enormous, with world sales reaching billions. Estimates and figures put the value of this market at around between $40 billion and $50 billion annually. Compared to other industries, it's huge.
What is the future of the luxury watch market?
The future of the luxury watch industry is as bright as the sun. Trends are also going to be driven by E-commerce and digital marketing strategies; therefore, this would further push more customers hence more growth of the sales.
What is the market segmentation of luxury watches?
Market segmentation in luxury watches is entirely focused on the following:
- high-end mechanical watches
- luxury sports watches
- classic dress watches
- limited edition or collector's pieces
Brands, of course, target segments accordingly depending on consumers' lifestyles, preferences, and, to a certain extent, purchasing power.
What is the biggest market for watches?
The watch's biggest market depends on various factors: economic conditions, consumers' likes, and cultural influences.
In the long run, regions like Europe, North America, and Asia have experienced a very high market demand for luxury watches. Major players like Switzerland, the United States, and China in terms of sales and consumption.
What is the No 1 watch in the world?
The world's No. 1 watch depends mostly on the customers' preference. However, brands like Rolex are consistently among the top contenders due to their iconic status, enduring popularity, and strong market presence.
What are the big 4 watch brands?
The "big four" watch brands usually encompass Rolex, Patek Philippe, Audemars Piguet, and Omega. They are the brands of supreme craftsmanship, innovation, and heritage.
These brands are actually shaping the luxury watch market. Each brand's uniqueness draws in collectors and enthusiasts from all over the world.