The Watch Market's Post-Pandemic Hangover

The luxury watch market is experiencing a significant shift after a tumultuous pandemic era. Prices have dropped, and growth has slowed considerably. This change is attributed to various factors, including evolving fashion trends and economic conditions.

A Shift in Consumer Behavior

Consumers are spending less on luxury items. The "quiet luxury" trend, which emphasizes understated elegance over ostentatious displays, has impacted the market. High-end watches, once highly sought after, are now struggling to maintain their value.

Secondhand Market Takes a Hit

The secondhand market has also seen a decline. Prices have dropped significantly from their pandemic highs. Even the most prestigious brands are feeling the pressure. While a few top players like Rolex and Patek Philippe are still performing well, most others are struggling.

Expert Insights

Experts believe the market is near the bottom, but a full recovery is still far off. The pandemic boom was driven by unique circumstances, such as extra leisure time and booming crypto markets. Those conditions are unlikely to return.

The Peak and the Future

The market's peak was in 2022, and returning to those prices will take decades. The focus has shifted from flashy, hyped-up models to classic, timeless pieces. Consumers are opting for safe, recognizable brands that hold their value.

Economic Realities

The pandemic-era buying spree was driven by ultra-wealthy investors looking to splurge. However, with crypto markets crashing and the cost of living rising, people are tightening their belts. The market is now characterized by refinement and conservatism, not excess.