The news agency Bloomberg's "Subdial Watch Index", which follows the 50 most traded watches by transaction value, increased by 5.3 percent during the first half of 2025. The increase continues into the third quarter.
Among the top sellers are Rolex's gold watch Daytona 116508 and Patek Philippe's Aquanaut 5167A.
Asia backs down
The second-hand market is a bright spot in an otherwise fairly bleak landscape for exclusive watches. The sale of new watches is affected by American tariffs, including those on exports from Switzerland, as well as a steadily declining demand in Asia.
The second-hand market is also currently benefiting from the high gold price, which drives up the price of new watches. Some buyers are also turning to the second-hand market to avoid waiting for a new watch.
The demand for new models is often high in stores, which means that buyers may have to wait several months for delivery. In the second-hand market, on the other hand, immediate access to a wider range of models is offered, says Christy Davis at the London-based watch dealer Subdial, according to Bloomberg.
Strong franc
The difficulties of the first-hand market are shown, among other things, by the fact that Swiss watch exports decreased by 5.6 percent in June and had a downward trend for a year beforehand.
Watch manufacturers such as Rolex, Patek Philippe, and Audemars Piguet are also struggling with the consequences of a stronger Swiss franc and a general weakness in demand for luxury goods. Swatch Group, with brands such as Omega and Blancpain, reported a sales decrease of 7.1 percent during the first half of the year. According to the company, the decrease is entirely due to China, including Hong Kong and Macao.
