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Three Swiss brands dominate the luxury pre-owned watch market, largely thanks to sustained demand for iconic models that buyers are still willing to pay well above retail prices to acquire, according to Robb Report.

The global pre-owned watch market is estimated at 22 billion Swiss francs (approximately $26.6 billion) and is growing by 8–11% annually, driven in large part by online sales. More than 60% of its value is concentrated in just three brands: Rolex, Audemars Piguet and Patek Philippe. Experts predict that sales of pre-owned luxury watches could eventually surpass those of new timepieces.

These findings come from the Secondary Market Report 2026, published by Oliver R. Müller, founder of consultancy LuxeConsult. The report was released just days before Audemars Piguet announced the launch of its own Certified Pre-Owned (CPO) program.

According to Müller, Rolex, Audemars Piguet and Patek Philippe account for 61–62% of the value of pre-owned watch sales. By comparison, their combined share of the new-watch market stands at 45.5%.

The expert attributes their dominance largely to demand for a handful of sought-after models, including the Rolex GMT-Master II and Daytona, as well as the Patek Philippe Nautilus, Aquanaut and Cubitus.

“When everyone is chasing the Rolex GMT-Master II, Daytona, Nautilus, Aquanaut and Cubitus, prices naturally keep rising. Yes, they have fallen significantly since their 2022 peak. But you still have to pay 40–60% above retail for a Rolex Daytona if you want one immediately. That is what explains the dominance of these three brands,” Müller told Robb Report.

The Rolex Certified Pre-Owned program is another important factor. Müller estimates that transactions through the scheme will approach 1 billion Swiss francs by the end of 2026. Its success and the trust it has built among buyers help explain why collectors continue to pay substantial premiums for popular models.

Müller expects Audemars Piguet’s program to generate lower sales volumes, but believes it will also influence the market. Other watchmakers could follow Rolex and AP by introducing their own certification schemes.

Changing consumer habits are also driving growth. Müller predicts that between 2034 and 2038, pre-owned watch sales could overtake sales of new timepieces. He attributes this trend partly to Generation Z and millennials, who are more willing to buy and resell watches in order to move on to other models.

Independent watchmakers, despite their growing popularity, still account for a relatively small share of the market: approximately 1 billion francs out of a total estimated value of around 23 billion.

“More than 60% of the secondary market’s value is generated by just three brands — Rolex, Audemars Piguet and Patek Philippe. There isn't much left beyond that trio,” Müller concluded.

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