From Swiss masterpieces to innovative new brands, the luxury watch market is thriving, both in the UK and around the world.
But how many of these prestigious timepieces are sold each year? And what can recent stats tell us about evolving trends in the luxury watch space?
In this in-depth guide, we take a look at the numbers behind the industry — including global sales, UK trends, pre-owned watch growth, and why so many people are choosing to sell their luxury watches today.
How Many Luxury Watches Are Sold Each Year?
Each year, millions of luxury watches are sold globally, although the definition of “luxury” can vary. Most analysts consider timepieces above the £2,000 mark – and particularly those from brands like Rolex, Patek Philippe, Audemars Piguet, and Omega – as falling into this category.
Key Figures
- Over 20 million luxury watches are sold worldwide annually.
- The Swiss watch industry accounts for around 50% of the global luxury watch market by value
- This marks a rise in export value despite a decline in unit volume over the past decade, highlighting a focus on fewer but more expensive timepieces.
It’s worth noting that “unit sales” do not necessarily reflect demand – limited production models, brand exclusivity, and waiting lists (especially for Rolex and Patek Philippe) mean that availability can often lag behind appetite.
Growth of the Global Luxury Watch Market
The luxury watch market is in the middle of a transformation. Once seen as the preserve of affluent European collectors, the sector is now truly global.
Market Breakdown by Region
- Asia-Pacific: Now the dominant region for Swiss watch exports, with China, Hong Kong, and Japan leading the way.
- United States: A major market that saw an increase in luxury watch sales post-pandemic, with buyers aged 25–45 fuelling growth.
- Middle East: Dubai, Abu Dhabi, and Saudi Arabia are rapidly emerging as key hubs for collectors.
- Europe: While growth is more modest, core markets like the UK, France, and Germany remain critical to brand prestige.
Online and Omnichannel Growth
Luxury watch retailers are increasingly moving into digital channels. Online platforms have made it easier than ever to browse and buy pre-owned and new watches from around the world.
UK Luxury Watch Trends
A Nation of Watch Enthusiasts
Despite being a relatively small market by population, the UK punches well above its weight in the luxury watch world.
- Last year, 1.3 million Swiss watches were exported to the UK
- London has become a key location for watch collectors, resellers, and auctions
- There’s been a noticeable shift towards investment-grade watches and limited edition pieces.
Who’s Buying?
- Men aged 30–55 remain the core luxury watch demographic (but there’s growing interest from younger professionals and women).
- There’s a sharp increase in first-time luxury buyers, particularly in the sub-£5,000 range.
Pre-Owned Watch Market Stats
The pre-owned luxury watch market is no longer a secondary space – it’s a dominant force in its own right.
Why the Second-Hand Market Is Booming
- Affordability: Buyers can access top-tier models at lower prices.
- Sustainability: Conscious consumers are favouring resale and recycling over new production.
- Speed of acquisition: Many high-demand models have long waiting lists – but can be found immediately on the pre-owned market.
- Investment interest: Pre-owned models, particularly in mint condition with original packaging and documentation, often hold or increase in value.
UK Market Snapshot
- The UK pre-owned luxury watch market is estimated to be worth over £1.5 billion.
- Specialist watch dealers play a key role in providing trusted, secure environments for sales.
- Deloitte estimates that the pre-owned market could outpace new watch sales globally by 2030.
Investment Value of Luxury Watches
Not all luxury watches are great investments – but some absolutely are. Over the past decade, watches have earned a reputation for being reliable assets that hold their value, and in some cases, appreciate significantly.
What Makes a Watch a Good Investment?
- Brand heritage: Rolex, Patek Philippe, Audemars Piguet, and Richard Mille are all known for strong resale performance.
- Model rarity: Limited production runs or discontinued models often become more desirable over time.
- Condition and completeness: Watches with full box, papers, and a documented service history are worth significantly more.
- Historical or celebrity connection: Provenance can increase value – think Paul Newman’s Rolex Daytona, which sold for $17.8 million.
Top Watches That Hold or Grow in Value
- Rolex Daytona: Consistently appreciates, especially stainless steel models.
- Patek Philippe Nautilus Ref. 5711: Discontinued and now considered a grail watch.
- Audemars Piguet Royal Oak Jumbo Extra-Thin: Limited availability with high demand.
- Omega Speedmaster Moonwatch: A collector staple with historical significance.
- Tudor Black Bay Fifty-Eight: An affordable investment watch with growing appeal.
Fun & Surprising Facts About Luxury Watches
Luxury watches are full of fascinating history and trivia. Here are a few to impress your fellow enthusiasts:
- The most expensive wristwatch ever sold at auction was the Patek Philippe Grandmaster Chime 6300A, which fetched over £25 million.
- Rolex produces around 1 million watches per year, but demand far exceeds supply.
- The moon landing featured a luxury timepiece: Buzz Aldrin wore an Omega Speedmaster Professional, now officially nicknamed the “Moonwatch”.
- The second hand on a mechanical watch “sweeps” smoothly — unlike quartz watches, where it “ticks” in one-second intervals.
- Luxury watches are often passed down through generations, making them one of the most enduring personal heirlooms.
The Future of Luxury Watches
Looking ahead, the luxury watch industry is poised to evolve with changes in consumer preference, technology, and sustainability.
Key Trends
1. Sustainable and Ethical Watchmaking
More brands are using recycled materials, reducing waste, and ensuring ethical labour practices.
Watchmakers like Oris and Panerai are leading the way in eco-conscious production.
2. Technology and Provenance
Blockchain technology is being adopted for digital certificates, helping verify authenticity and ownership.
This helps tackle the ongoing issue of counterfeits, which account for over 30 million fake watches seized annually.
3. Female-Driven Market Growth
Brands are investing in more mechanically complex women’s models, moving beyond simply resizing men’s watches.
More women are entering the resale space too – both as buyers and sellers.
Thinking of Selling Your Luxury Watch?
The market for pre-owned luxury watches is hotter than ever – and now is an excellent time to sell. Whether you’re upgrading, streamlining your collection, or simply looking to release funds, selling a luxury watch has never been easier or more secure.
Why Sell to The Watch Exchange London?
- Instant valuations with no obligation
- Expert authentication and fair market pricing
- Same-day appointments at our discreet London showroom
- Fast payment and secure transactions
We buy a wide range of brands including Rolex, Omega, Breitling, Audemars Piguet, TAG Heuer, and many more.
The Numbers Don’t Lie!
From Swiss exports to UK collectors, the numbers don’t lie – the luxury watch market is thriving, and it’s not slowing down any time soon. With rising interest in pre-owned models, strong resale prices, and growing diversity in buyers, there’s never been a better time to understand the industry.
Whether you’re buying, selling, collecting, or simply admiring, the stats and trends behind the tick tell a fascinating story – and you could be part of it.
