Are Luxury Watches Still a Good Investment in 2025?

In recent decades, luxury watches have evolved from symbols of prestige and craftsmanship into coveted alternative investments. For many collectors, owning a timepiece is no longer just about design or heritage—it’s about potential returns. But in 2025, amid shifting global economies, changing consumer behavior, and evolving watch market dynamics, one pressing question looms: Are luxury watches still a good investment?

To answer that, we must look at the history, current trends, and future outlook of the watch market. This article will explore the factors that have driven past performance, assess the state of the market in 2025, and provide insights for collectors and investors navigating today’s horological landscape.

1. The Golden Decade of Watch Investment (2010–2022)

From around 2010 to early 2022, the luxury watch market saw unprecedented growth—not only in retail prices but on the secondary market as well.

Key drivers included:

Increased media coverage: Platforms like Hodinkee, WatchBox, and Instagram fueled global interest in horology.
Celebrity influence: Public figures like John Mayer, Ed Sheeran, and Kevin O’Leary turned watch collecting into a cultural phenomenon.
Global demand: Booming wealth in Asia, the Middle East, and the U.S. led to fierce competition for desirable pieces.
Supply constraints: Limited production, especially by brands like Rolex, Patek Philippe, and Audemars Piguet, increased scarcity and resale value.

Certain watches—like the Rolex Daytona, Patek Philippe Nautilus 5711, and Audemars Piguet Royal Oak—became blue-chip assets, sometimes doubling or tripling in value shortly after release. Auction houses like Phillips, Sotheby’s, and Christie’s routinely broke records with six- and seven-figure sales.

But was it sustainable?

2. The Market Correction of 2023–2024

By late 2022 and into 2023, the market began cooling. Several factors contributed:

Global economic uncertainty due to inflation, war, and tightening central bank policy
Cryptocurrency downturns, which affected many speculative investors
Oversupply in the gray market, as flippers and speculators tried to cash in
Watch fatigue, with some collectors burned out from high prices and long waitlists

Watches that were selling at 2–3x retail in 2021–2022 started trending closer to retail—or even below. The Patek Philippe Nautilus 5711 Tiffany & Co. edition, which famously sold for $6.5 million at auction, became emblematic of peak hype. While still rare, the market now viewed such extremes with caution.

So, as of 2025, the hype has cooled—but the foundation of long-term interest remains strong.

3. Understanding the Different Types of Watch Investment

To assess whether watches are a good investment today, it’s important to distinguish between three major categories:

A. Blue-Chip Watches

These include iconic models from top-tier brands:

Rolex Daytona, Submariner, GMT-Master II
Patek Philippe Nautilus, Aquanaut, Calatrava
Audemars Piguet Royal Oak
F.P. Journe Chronomètre Bleu

These watches tend to hold or appreciate in value over the long term due to brand equity, consistent demand, and cultural relevance.

B. Independent Horology

In 2025, independent brands like:

Rexhep Rexhepi (Akrivia)
Kari Voutilainen
Philippe Dufour
De Bethune
F.P. Journe

…continue to outperform the market due to their limited production, artisanal craftsmanship, and passionate collector base.

C. Trend-Based or Speculative Models

These include hyped releases, collaborations, and limited runs that can spike in value short term, but may not retain that value long-term unless they are historically significant.

In 2025, informed investing means knowing which category a watch falls into and managing expectations accordingly.

4. Key Factors That Influence Watch Investment Value in 2025

A. Brand Reputation

Rolex, Patek Philippe, and Audemars Piguet remain the holy trinity of investment watches. These brands maintain tight control over supply, have global brand recognition, and are associated with timelessness.

Independent brands like F.P. Journe and Rexhep Rexhepi are becoming the “Patek Philippes” of the future, with a small circle of elite collectors driving values up.

B. Rarity and Production Numbers

The fewer watches produced, the more exclusive the model is—especially if it’s part of a discontinued series. A discontinued reference, like the Patek 5711, often becomes more desirable over time, assuming there is collector interest.

C. Condition and Provenance

A watch’s investment potential also depends on:

Box and papers (original documentation)
Service history
Authenticity and originality (no replacement parts)
Celebrity ownership or historical relevance

D. Market Timing

Buying at the top of the market can lead to significant losses. In 2025, with market prices more rational, long-term investors may find better entry points than during the 2021 hype era.

5. What the Data Says in 2025

Let’s look at some current trends in the watch market (data as of mid-2025):

Rolex: Daytona, Submariner, and GMT-Master II remain steady performers. Some models like the “Hulk” Submariner and “Pepsi” GMT have regained value after 2023’s correction, now trading just above retail.
Patek Philippe: Discontinued Nautilus and Aquanaut models continue to command premiums, though less extreme. The new Calatrava releases have seen modest appreciation.
Audemars Piguet: Royal Oaks remain desirable, especially low-production references or complicated versions.
Independents: F.P. Journe pieces continue to sell well above retail, often requiring waitlists and personal relationships with boutiques. Akrivia and Voutilainen prices have surged due to limited production and high demand.
Secondary Market Activity: Platforms like Chrono24, WatchBox, and eBay have seen a stabilization in listings and more realistic pricing.

In short, 2025 is a more mature, balanced market, favoring long-term collectors over short-term flippers.

6. The Role of Auctions in Validating Value

Luxury watch auctions remain key barometers of investment-grade watches. In 2025, we’re seeing more nuanced trends:

Consistent performance from historically significant watches (e.g., vintage Rolex Daytonas, Patek 1518s, Dufour Simplicity).
Rising demand for first-generation indie pieces (early F.P. Journe, Kari Voutilainen, etc.)
Selective interest in modern limited editions, with collectors now seeking substance and story over gimmicks.

Auction houses like Phillips, Christie’s, and Sotheby’s continue to validate long-term collectibility, especially for pieces with strong provenance.

7. Pitfalls to Avoid in Watch Investment

While watches can be profitable investments, 2025 has also taught many buyers some hard lessons. Here’s what to avoid:

A. Chasing Hype

Just because a watch is trendy on Instagram doesn’t mean it’s a good investment. Many collabs and novelty models lose steam once initial excitement fades.

B. Ignoring Condition

A scratched, overpolished, or non-original watch will always trade at a discount—sometimes drastically so.

C. Buying Without Research

Blind buying, especially in the gray market, opens the door to counterfeit watches, overpricing, and buyer’s remorse.

D. Expecting Quick Profits

Watches are illiquid assets. They can take time to sell, especially at higher price points. They’re best viewed as long-term stores of value, not quick-turn investments.

8. Digital Tools and Transparency in 2025

Thanks to technology, the 2025 watch investor has more tools than ever:

WatchCharts and Chrono24 provide market analytics, price trends, and valuation tools.
Blockchain authentication and NFT-based certificates are starting to appear with high-end models.
Online auctions and peer-to-peer platforms make trading faster and more transparent.

This greater visibility into prices, provenance, and supply empowers buyers—and discourages speculative bubbles.

9. Are Watches Better Than Other Luxury Investments?

Let’s compare watches to other tangible assets in 2025:

Asset Type	Liquidity	Storage Cost	Volatility	Emotional Value	Market Transparency
Watches	Medium	Low	Medium	High	Improving
Art	Low	Medium	High	High	Low
Wine	Medium	Medium	Medium	Medium	Medium
Cars	Low	High	High	High	Medium
Jewelry	Medium	Low	Low	Medium	High

Watches strike a balance between passion and investment, with strong emotional resonance, manageable storage, and growing liquidity. For many, this makes them one of the more practical and enjoyable luxury investments available.

10. Final Verdict: Are Luxury Watches Still a Good Investment in 2025?

The Short Answer: Yes—but with caveats.

In 2025, the speculative bubble has burst, but the fundamentals remain strong. Iconic models from blue-chip brands and pieces from the top independent makers continue to appreciate—albeit at more sustainable rates.

However, watch investing requires knowledge, patience, and strategy. Those who chase trends or treat watches like stocks will likely be disappointed. But those who research deeply, buy smart, and understand the cultural and emotional depth of horology will find watches to be a deeply rewarding long-term investment.

Tips for Aspiring Watch Investors in 2025

Buy what you love. Passion should always drive your purchase.
Research reference numbers and historical trends.
Prioritize condition, provenance, and originality.
Avoid overpaying in hype cycles.
Diversify—don’t just chase Rolex and Patek.
Build relationships with trusted dealers and boutiques.
Track prices using tools like WatchCharts and Chrono24.
Think long-term. Real value accrues over decades, not months.

Conclusion

The watch market in 2025 has matured. The days of blind speculation and overnight 3x flips are mostly over. But in their place stands a stronger, more informed collector and investor culture.

Luxury watches remain beautiful objects of engineering and artistry—with the added bonus of holding or even increasing in value over time. For those willing to approach the market with knowledge, discipline, and heart, the answer is clear:

Yes—luxury watches are still a good investment in 2025.