MARKET ANALYSIS | Q1 2025
Luxury Watch Secondary Market 2025: Cooling or Correction?
WatchCharts Data — Real transaction prices for Rolex, Patek Philippe, AP & Richard Mille
After the 2021–2022 overheating and subsequent correction, the luxury watch secondary market is showing signs of selective recovery in 2025. Not all references recover equally — only those with genuine investment credentials are rising, signaling a maturing market.
| Reference | Retail | Secondary (Q1 2025) | Premium | Outlook |
|---|---|---|---|---|
| Patek 5711/1A (discontinued) | ~$28,000 | $130,000+ | +373% | ▲ Strong |
| Rolex Daytona 116500LN | ~$14,550 | $40,000+ | +188% | ▲ Strong |
| AP Royal Oak 15500ST | ~$24,900 | ~$44,000 | +77% | → Flat |
| Richard Mille RM011 | ~$320,000 | $530,000+ | +66% | ▲ Strong |
2025 Key Investment Insight
Discontinued references (Patek 5711, Rolex Meteorite GMT combinations) and ultra-limited production models (Richard Mille RM011) continue to appreciate strongly, while secondary premiums on newly launched references are normalizing rapidly. The investment conclusion: focus exclusively on references where scarcity is already locked in.
Data sourced from WatchCharts, Chrono24, ChronoPulse | Luxe Select Editorial
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