Historically, luxury mechanical watches have been more than mere timekeeping devices; they embody the highest levels of craftsmanship, tradition, and exclusivity. Swiss brands like Rolex, Patek Philippe, Audemars Piguet, and Vacheron Constantin have built this segment’s prestige over centuries. However, 2020 became a pivotal turning point. Sudden store closures, international travel restrictions, and an economic slowdown led to a short-term drop in sales. Yet, a sharp recovery was already underway by 2021, fueled by a consumer desire for "tangible" luxury and the unique experience that the digital world cannot provide

The secondary market for luxury watches holds a unique position, having grown by 40% between 2022 and 2024, with momentum continuing to build. Auctions at Sotheby’s, Christie’s, and Phillips are recording record sales and increasing activity from new buyers, including younger generations. This is linked to a growing awareness of watches as an investment asset capable of preserving and growing capital amidst financial instability and inflation

The Russian luxury watch market, despite sanctions and economic turbulence, has shown stable growth of around 12% in 2024 compared to 2020. Demand is concentrated not only on established global brands but also on vintage and Soviet-era models, which are now considered part of the national cultural heritage and are gaining status as collectible objects

Environmental responsibility has become a key trend in the luxury industry. Brands are adopting green manufacturing practices, utilizing recycled materials, and supporting social initiatives, which strengthens customer trust and builds long-term loyalty. The modern buyer increasingly chooses a brand not only for its design and status but also for its values and commitment to sustainable development

The luxury watch market has undergone a fundamental shift over the past five years, driven by a complex mix of global factors—from the COVID-19 pandemic and rapid technological innovation to a profound change in buyer values. Analyzing the period from 2020 to 2025 reveals a complete transformation of the luxury industry, where timepieces have solidified their role not just as status symbols, but as objects of collection, financial investment, and cultural heritage

According to the analytical firm Bain & Company, the global luxury watch market is estimated at approximately $ 23 billion in 2025—a 15% increase over the pre-crisis levels of 2019. Experts particularly note the sustained leadership of the mechanical watch segment despite the expansion of smartwatches and digital wearables. This is because collectors and buyers of high-end pieces value traditional mechanics, exclusive materials, and brand heritage, which serve as guarantees of authentic value

Rolex remains the undisputed market leader, with models like the Daytona, Submariner, and GMT-Master continuing to break records on the secondary market. The Patek Philippe Nautilus consistently ranks among the top models for investment potential, reflected in the more than 50% price increase for rare specimens over the past two years. Simultaneously, the niche of independent manufacturers—such as F.P. Journe and A. Lange & Söhne—is flourishing, offering exclusive limited series coveted by a narrow circle of collectors seeking unique timepieces with both history and innovation

Modern technological trends are also being actively integrated into the luxury watch sector. The use of innovative materials—such as ceramics, titanium, carbon, and new alloys—enhances the durability and comfort of the timepieces. Hybrid watches, which blend classic design with smart gadget functionalities, are gaining popularity, especially among younger clients seeking a synthesis of tradition and digital capability. This segment is forecast to grow by 20−25% by 2025

A look into the future of the luxury watch market points to a deeper focus on personalization: from exclusive engravings to fully customized models created in collaboration with the client. Digital technologies, including augmented reality and 3D printing, are enhancing the customer experience, allowing for virtual try-ons and modifications before purchase. The pre-owned market will be supported by digital platforms with transparent verification systems and blockchain certificates, minimizing the risk of counterfeits and boosting investor confidence

Author: Oksana Sergeeva

The result of this five-year transformation is the understanding that the luxury watch market is not merely about selling premium products, but about creating a unique cultural and investment asset. In 2025, true luxury lies in the story, the heritage, the innovation, and the deep emotional experience that each horological masterpiece grants its owner