The Secondary Watch Market Is Thriving, a New EveryWatch Report Says

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Conventional wisdom in the high-end watch trade is that the secondary market has been in a slump since February 2022, when the start of the Ukraine War put a dramatic end to the category’s pandemic-fueled bull run.

But a new report from EveryWatch, a company that aggregates and analyzes pre-owned watch sales, highlights data trends, primarily based on market analysis during the month of June, that paint a far rosier picture.

“While average prices have gone down for the Big Three, actual sales volumes have skyrocketed in the last quarter,” Giovanni Prigigallo, EveryWatch’s cofounder and head of business development, tells Robb Report, referring to Rolex, Patek Philippe, and Audemars Piguet, the three brands that dominate the sector. “The market is really heating.”

To prove his point, Prigigallo cited some key takeaways from EveryWatch’s “Market Movements Report,” the first market study the company has made publicly available, beginning with a broad comment: The total value of secondary transactions jumped 30.6 percent in June, while listings rose 45.8 percent, all indicators, he says, of a thriving marketplace. 

The report also pointed to additional signs of broad-based growth: The average change in sales among the top 10 brands between January and June was +24 percent. And watches priced under $20,000 recorded, at nearly 25 percent, the highest turnover rate, or the percentage of sold watches relative to active listings, suggesting continued strength in this pricing segment.

It should come as no surprise that among brands, Rolex continued to dominate, representing 29.85 percent of sales by value in June and 22.17 percent by volume. Rounding out the month’s top 10 brands in terms of value were Patek Philippe (17.06 percent), Audemars Piguet (12.69 percent), Richard Mille (6.74 percent), Omega (3.59 percent), Cartier (3.09 percent), Hublot (2.43 percent), Vacheron Constantin (1.84 percent), Breitling (1.82 percent), and Breguet (1.51 percent). (“If you think Omega competes with Rolex, think again,” Prigigallo notes.)

In terms of aggregated sales, Rolex once again claimed the No. 1 spot in June, with $3.66 billion in aggregated value across 163,470 active listings, with a median time on the market of 40 days. Patek Philippe followed, at $2.09 billion, with a 19 percent turnover rate and a 62-day median time on market. Audemars Piguet also recorded a 19 percent turnover though at 83 days, its watches showed a longer selling period. Meanwhile, Vacheron Constantin showed an 18 percent turnover rate and a 56-day median time.

While Audemars Piguet saw its list price decline 5.2 percent quarter-over-quarter this year, its total aggregated sales value rose 46.2 percent, exceeding Patek’s 14.3 percent and Rolex’s 2.9 percent. What’s more, the brand still trades 41.2 percent above retail on average, according to the report.

Among independent watchmakers, the market, which totals approximately $282.5 million, appears to have a clear winner. “F.P. Journe has been really hot,” Prigigallo says. The independent brand picked up momentum in secondary channels in May, when turnover rose to 36 percent and accelerated further in June, peaking at 43 percent.

Other interesting data points from the report include the relative performance of Breguet, which saw both its aggregated value between June 2024 and June 2025 and its average sales price in that period rise 111 percent.

“Breguet is doing extremely well, especially at auction with its neo-vintage and vintage watches,” Prigigallo says.

Despite, or perhaps because of, President Trump’s tariffs, “the U.S. is clearly driving the secondary market,” Prigigallo concludes. He noted that the U.S. outperformed Europe in June with a 61.11 percent turnover rate versus 11.11 percent. “The secondary market will definitely gain from this, especially in the U.S.”