The pre-owned watch market just hit a milestone.
Even though average prices for used timepieces fell by 0.3 percent from April 1 to June 30, that figure marks the slowest rate of decline since the market’s May 2022 peak, according to a recent Morgan Stanely report that used data from WatchCharts. To compare, Q1 of 2025 had a drop of 0.4 percent, Hodinkee reported.
The findings showed that Rolex, Cartier, Omega, and Patek Philippe fared better than other watchmakers on the overall market, since customers are often willing to splash down more cash on coveted timepieces from that group. In general, secondary market watch prices act as a bellwether for brands’ desirability. The Crown, for one, saw prices for its pre-owned timepieces drop slightly by 0.2 percent, essentially remaining flat. Cartier, meanwhile, got some help from a strong demand for pre-owned Tanks and Santos timepiece, among others: The brand saw its used watches rise by 0.9 percent in price over the period, according to Morgan Stanley. The average price of Patek’s used watches rose 1.1 percent in Q2, as demand for its Aquanaut stayed firm and Nautilus prices saw a boost. As for Omega, it saw just a slight price downturn of 0.1 percent, with the Speedmaster popularity remaining strong.
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Other watchmakers experienced more of a decline in Q2. Hublot saw its prices slide downward by 4 percent during the period. Pre-owned watch prices of Audemars Piaget models dropped by 1.3 percent; while the price of Royal Oak timepieces stayed strong, other watches such as the Offshore and the Code 11.59 faltered, according to Hodinkee. Other brands, such as Vacheron Constantini and Panerai, saw pre-owned prices drop by over 2 percent. Since that post-pandemic boom back in 2022, pre-owned Swiss watch prices have been trending downward ever since—for a total of 13 quarters.
Meanwhile, sales of pre-owned watches were up at the end of this past May, with transactions spiking by 160 percent ahead Trump’s potential tariffs. That played out similarly to what Chrono24 founder Tim Stracke predicted would occur on the market. “In the immediate term, I expect a rush of purchases at current prices, as undecided buyers act before increases take effect,” he told us when speaking of the impact of the levy announcement. After the tariffs come into effect, though (the new deadline has been set for August 1), Stracke explains that a “cooling-off period is likely.” Only time will tell if he’s on the money once again.
