These are the 10 best watches to buy as an investment

While the secondary watch market has continued to cool, certain models are still selling for significantly more than their retail price.

Feb 8, 2025 - 14:16

These are the 10 best watches to buy as an investment

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Watch display — The secondary watch market has seen a dip in recent quarters, though there are some bright spots.
Bob Henry/UCG/Universal Images Group via Getty Images

The secondary watch market has declined over the past years.
But there are still makes and models that will sell for well above retail value.
These are the 10 models that are the best investment right now — if you can find them new.

Last year was not kind to the secondary watch market — and things are not looking much better for the first quarter of 2025.

After peaking in May 2022, watch prices on the secondary market have fallen for 11 straight quarters, according to a report from WatchCharts and Morgan Stanley that came out earlier this month,

In the last months of 2024, the resale watch market continued to decline, with prices for the full year down 5.7% compared to 2023.

Over the past couple of years, inventory has flooded the resale market as those who purchased watches as an investment when the market was hot rushed to cash out. At the same time, the luxury market has struggled amid rising interest rates and economic uncertainty.

"Once they see the prices falling and that there's less liquidity in the market, they try to sell," Charles Tian, the founder and CEO of WatchCharts, told Business Insider. "That floods the market with inventory and inevitably drives prices down."

The market may not have reached an inflection point quite yet. The WatchCharts and Morgan Stanley report predicts secondary prices will "continue to fall for the foreseeable future."

"Most brands will need to navigate the widening gap between retail and secondary prices, driving more value-oriented consumers toward the secondary market and challenging brand perception by potentially making retail prices appear overpriced to some customers," the report's authors wrote.

Still, some watches make better investments than others.

The Big Three — Rolex, Patek Philippe, and Audemars Piguet — still make up about 64% of the market. As of January 2025, most Rolex and Audemars Piguet models trade above retail — 56% and 63%, respectively — as do 38% of Patek Philippe models, per the report.

"Luxury brands like Rolex and Audemars Piguet have a strategy of maintaining limited availability at official retailers, which often means that many of their most desirable models are perpetually sold out in stores," Paul Altieri, the founder and CEO of online luxury watch retailer Bob's Watches, said of the Big Three manufacturers, likening them to luxury fashion players like Hermès.

"Anytime you have demand exceeding supply, where the supply is limited, or demand is hyperinflated, you get this big disparity between secondary market value and retail price," he added.

Recognizable models like the Rolex Daytona or GMT-Master II are perpetually in high demand, Tian said, while other styles can rocket into the stratosphere because of social media trends.

Altieri said that classic Rolex styles, like the Daytona and Submariner, tend to be timeless, adding that the brand makes up more than 75% of Bob's Watches sales.

Chrono24, a Germany-based marketplace, pulled the 10 models selling at the highest premiums over the manufacturer's suggested retail price. The marketplace provided the resale prices in euros, which BI converted to US dollars as of February 3rd.

The majority of the watches on the list are Patek Philippe's Aquanaut model, a collection of minimalist and sporty watches that has been around for nearly three decades and comes in various metals and finishes.

While the numbers suggest these models make the smartest purchases, Altieri warns against choosing a watch solely because of its resale value.

"Find something you are going to enjoy, not something that you think will go up in value," he said. "Quality assets always go up in value, whether it's real estate, stocks, arts, or watches, so buy what you like."

Patek Philippe Aquanaut 5267/200A-001: 132% above retail