WatchCharts Executives Discuss Market Trends and Future Price Movements

This week on 'The Business of Watches' podcast, we feature an extended conversation with Charles Tian, founder and CEO of WatchCharts.com, and Hamza Masood, the company's Head of Business Partnerships. Both seasoned technology executives, they've channeled their passion for horology into WatchCharts, a platform dedicated to collecting and analyzing secondary market watch data. This invaluable resource offers insights into demand fluctuations, price shifts, and the overall health of various luxury watch brands and groups. Retailers, dealers, collectors, and brands alike utilize their comprehensive market intelligence.

Understanding Market Dynamics and Recovery Trends

WatchCharts, in collaboration with U.S. investment bank Morgan Stanley, publishes quarterly reports on the secondary watch market. The recent third-quarter report, released in mid-October, indicates a fifth consecutive quarter of market growth exceeding 1%. This suggests a period of stability and recovery, although the pace of growth has decelerated to its lowest point since mid-2025. While price increases are observed across a broader range of watchmakers, with 28 out of 35 tracked brands showing quarter-over-quarter gains, the overall WatchCharts index remains approximately 28% below its all-time peak. This record high was established in April 2022, fueled by post-pandemic market exuberance.

The latest report from WatchCharts, produced in partnership with Morgan Stanley, highlights a consistent upward trajectory in the secondary watch market. Despite this sustained growth, a noticeable slowdown in recovery has been identified, marking the weakest quarter-over-quarter increase since the middle of 2025. This moderation comes as the market grapples with the aftermath of an unprecedented surge in demand during the post-pandemic era, which saw the WatchCharts index reach an all-time high in April 2022, followed by a subsequent decline. The current data, while positive, suggests a more measured and potentially more sustainable recovery phase.

Top Performers and Market Vulnerabilities

Certain brands consistently lead the market in performance. Patek Philippe, Audemars Piguet, and Cartier continue to dominate, with A. Lange & Söhne, Tudor, and Vacheron Constantin also showing impressive recent gains. Rolex, despite exhibiting signs of demand stabilization and accumulating record-high inventory, remains the most significant player in the secondary market. As global geopolitical uncertainties persist, the question arises whether these gains can continue, and which brands might be most susceptible to a downturn in demand. The discussion explores the potential vulnerabilities within the market, considering factors such as brand perception, exclusivity, and overall economic sentiment.

In the luxury watch market, perennial favorites such as Patek Philippe, Audemars Piguet, and Cartier consistently demonstrate robust performance, indicating strong and enduring demand for their exquisite timepieces. Emerging as recent strong performers are A. Lange & Söhne, Tudor, and Vacheron Constantin, whose market values have shown notable appreciation, reflecting increased collector interest and brand prestige. Rolex, while still holding the largest share of the secondary market, is experiencing a period of demand normalization, with its inventory levels reaching unprecedented highs. This shift prompts a critical examination of market sustainability. The podcast delves into the potential for continued growth across the board, alongside identifying brands that might face challenges if market demand contracts due to broader economic or geopolitical shifts. The conversation underscores the intricate balance between brand power, market sentiment, and external factors in determining the future trajectory of watch values.