- Chrono24 examines Rolex’s role in the secondary luxury watch market since 2020
- Secondary market shares have fluctuated significantly in recent years
- Eight Rolex models saw price increases of over ten percent in 2024
- Rolex is especially popular among young buyers under 30
Rolex watches are status symbols, investment assets, and coveted collector’s items all at once. However, the high demand means that many models are only available after long waiting periods. Those looking to acquire a Rolex more quickly turn to the secondary market, where the brand is the undisputed leader. Yet, market share varies significantly by country, age group, and price category and has undergone notable fluctuations in recent years, as revealed by a new Chrono24 analysis. The world’s leading online marketplace for luxury watches analyzed transaction data from the first quarter of 2020 to the last quarter of 2024.
Rolex Leads the Secondary Market for Luxury Watches by a Wide Margin
According to the analysis, Rolex accounts for 34.2 percent of global transaction volume on the secondary luxury watch market, making it the clear market leader. For comparison, the next most prominent brands – Omega (10 percent), Patek Philippe (6.7 percent), Cartier (5.2 percent), Audemars Piguet (4 percent), Breitling (3.9 percent), and IWC (2.9 percent) – collectively account for only 32.6 percent, which is still less than Rolex alone.
Over the past four years, Rolex has at times held an even stronger position in the global secondary market than it does today. In spring 2020, the brand’s market share was at a comparable level of 33.3 percent. However, during the pandemic, Rolex experienced an unprecedented surge, reaching its peak secondary market share of 43.9 percent in the first quarter of 2022.
“As the flagship brand of the industry, Rolex particularly benefited from the luxury watch boom during the pandemic. With reduced spending on travel and other consumer goods, combined with a prolonged period of low interest rates, many turned to luxury watches as an investment. This drove up secondary market prices and further strengthened Rolex’s market position. However, as the market gradually normalized over the past three years, Rolex has also lost market share disproportionately,” explains watch expert Balazs Ferenczi, Head of Content at Chrono24.
Datejust Models Saw the Most Significant Value Growth in 2024
Despite losing market share since the peak of the pandemic, Rolex watches remain one of the most stable investment assets in the luxury sector. This is evident not only from the fact that many models continue to trade at multiples of their retail prices, but also because some Rolex watches have recently seen significant price increases in the secondary market, despite an overall stagnation in 2024.
In total, eight models, including seven variations of the Datejust and one Yacht-Master reference, recorded value increases of more than ten percent last year. Notably, all of these models fall within the €10,000 to €20,000 price range – a category in which Rolex holds a commanding 64.3 percent market share.
Rolex’s Popularity Among Young Buyers
The Datejust is not only one of the strongest appreciating models in the secondary market but also the most popular Rolex model on Chrono24. Currently, 28.8 percent of all Rolex purchases on the platform are Datejust models. This trend is particularly pronounced among young buyers under 30, most of whom belong to Generation Z. In this age group, the Datejust leads with a significant 37 percent share.
In general, Rolex is highly sought after by those under 30, achieving its highest market share of all age groups at 41.1 percent. This percentage gradually decreases with age: 36 percent among 30 to 39-year-olds and 29.7 percent among 40 to 49-year-olds. In the 50 to 59 and over 60 age groups, it fell further to 28.6% and 28.5% respectively.
At the same time, older buyers tend to invest in more expensive models. For example, the Rolex Daytona, which is priced significantly higher than the popular Datejust, accounts for 17.1 percent of Rolex purchases among those over 60 – more than double the 8.2 percent share among watch enthusiasts under 30.
Luxury Watch Expert: Rolex’s Market Dominance Remains Secure for the Foreseeable Future
“Rolex combines iconic design, exceptional quality, and unparalleled brand recognition – a combination that appeals to both entry-level buyers and seasoned collectors. The brand has dominated both the primary and secondary luxury watch markets for decades, and there are no signs of that changing anytime soon. After all, no competitor has come close to matching Rolex’s market share.
In fact, we at Chrono24 see untapped growth potential for Rolex in some regions. While the brand is particularly strong in markets like Germany (41.1 percent market share) and the USA (39.5 percent), its share in Switzerland is significantly lower at 22.8 percent. In Hong Kong, it is even lower at just 17.9 percent.
It would not be surprising if the Geneva-based brand expands its dominance in the secondary market even further in the coming years. A key advantage over many competitors: As a family-owned foundation, Rolex thinks in generations rather than quarters. This long-term strategy provides the foundation for bold decisions to maintain the brand’s desirability even in challenging times,” comments watch expert Balazs Ferenczi of Chrono24.