SJX Watches
Winners Take All: How a Handful of Brands Dominate the Secondary Market
Industry price data provider EveryWatch has released its annual report on the state of the secondary market for luxury watches. The data confirms what many collectors already sense - the pre-owned watch market is booming, but the gains are concentrated in a small number of brands and references that are capturing the lion’s share of value, while the rest are left fighting over the scraps. Francis Ford Coppola’s personal F.P. Journe FFC prototype (left) sold for US$10.8 million, while his Chronomètre à Résonance sold for US$584,000 in December 2025. Image – Phillips Initial thoughts There are many reasons to be skeptical about much of the information gathered by industry data providers. For one thing, data gathered from dealers, internet listings, and auctions naturally misses the sizable proportion of transactions that happens offline. For another, the asking price is often easier to find than the clearing price, which tends to be lower. That’s not to say the data is unusable. On the contrary, the time series data gathered by data providers like WatchCharts can provide validation (or not) for anecdotal evidence and help collectors and dealers make more rational point-in-time decisions - if there is such a thing as a ‘rational’ watch purchase. What’s interesting is not necessarily that the market is estimated to be about US$20 billion in size, or that it’s growing at a rate in excess of 30% according to EveryWatch. What is more interesting is how the ...
