Within the next decade, experts anticipate that the pre-owned luxury watch market will surpass the volume of the new watch market. What was once a niche space occupied by auction houses and local dealers is now fueled by the digital world; as a result, the industry has experienced unprecedented growth over the last few years. Much of this is owed to the rise in demand forrare, limited-edition pieces and models that carry historical significance.
Today, the pre-owned market is brimming with horological wonders, but navigating these open waters proves a challenge for those unaided by a trusted expert. In this article, we’ll look at why a horological specialist is crucial for diversifying your portfolio or
for acquiring that first significant collector’s piece.
We’ll also cover why thorough vetting, guidance, and assurance are absolute necessities when trying to swerve the relentless sophistication of fraud.
The Pre-Owned Luxury Watch Market Revolution
If you’re privy to the fiscal landscape of watchmaking, you’ll already be aware that the pre-owned luxury watch market experienced a boom in 2020, during the pandemic. Collectors had money to spend and nowhere to go. During the lockdowns, online sales surged, as did online auctions, with some auction houses, such as Phillips, seeing a 50% increase in online bidders compared to the previous year.
Suffice it to say, the pandemic didn’t so much create a demand for watches as facilitate the time and access that enthusiasts needed in order to invest in these desirable pieces. Although the market declined again in 2022, it has now stabilised somewhat and still remains higher than before the pandemic. This, in part, can be attributed to key players such as Omega, Rolex, Audemars Piguet, and Patek Philippe, who not only experienced significant growth in sales and market position but also indicated a strong post-pandemic recovery.
Painting an even more vivid picture of this ascent, the pre-owned market’s staggering growth now belongs to a segment worth tens of billions of dollars. More specifically, out of the entire second-hand luxury goods market, luxury watches are the strongest performing segment, accounting for an estimated $ 2.65 billion in 2023. But why the attraction?
Pre-Owned Bvlgari Serpenti Secret Watch from the 1960s, photo taken at Time on Show Paris 2025
The allure of a second-hand timepiece is compelling and multifaceted for several reasons. The preowned market is a pathway to rarity and highly coveted timepieces that are no longer in production. Discontinued models are objects of desire, especially those that are part of a limited production run. Some pre-owned timepieces even offer a price advantage over buying new, allowing a beginner to enter the market with a solid asset to work their way up the horological ladder.
For some, it is the investment and appreciation factor that makes collecting second-hand watches so appealing. Some specific models from legacy brands, such as Audemars Piguet and Omega, can appreciate in value over time if kept in pristine condition and produced in limited supply. Vintage Rolex watches and Patek Philippe watches are two other examples; their rarity and history make them solid financial investments and a significant part of the appeal in luxury watch collecting.
Despite the exponential growth of the online market for pre-owned luxury watches, factors such as authenticity and transparency remain equally crucial for collectors.
The Rarity and Heritage Premium
Forget the obvious factors that you think would determine the value of a luxury watch, because there’s a lot more to consider than just materials and mechanical complexity (though these do play a part). A brand with a narrative and a watch that reserves a place for itself within the history and legacy of that brand is priceless to a collector. This is one reason why some watches appreciate in value exponentially, while others don’t.
Watches that are linked to a cultural moment or significant milestone in that brand’s legacy often demand a premium over more mainstream models, as do those with a capped supply. When demand rises and availability shrinks, they achieve a cult-like following. An example would be the Audemars Piguet Royal Oak “Jumbo”. It predates current production models, as do the original Omega Speedmaster Professional watches, which were linked to space exploration from the 1960s. The idea that these watches represent a monumental moment in history and that no more will ever be produced again catapults their value and desirability within collector circles.
The ultimate barometer of this premium is the auction house. Watches that are scarce and high in demand regularly fetch astronomical prices. Back in 2017, Paul Newman’s very own Daytona sold for a total of $17 million. Similar to a piece of rare artwork, luxury timepieces are far from basic timekeeping mechanisms. To purchase one is to wear a tangible, verifiable piece of history, which makes the after-sales service element of watch collecting all the more important.
The Authentication and Quality Minefield
The proliferation of counterfeit watches is a serious problem that has been growing and overshadowing the pre-owned market for some time. It goes without saying that as the online market for these luxury products grows larger, the threat and the problem become bigger and more sophisticated. This ever-evolving threat can deter many collectors from buying watches online, which further limits the variety and accessibility they have when expanding their collection.
The evolution of counterfeit luxury timepieces is becoming increasingly alarming by the day. While cheap clones were once easy to identify due to their poor finishing or incorrect movements, replica watches and counterfeit watches are getting harder to differentiate from the real deal. These sophisticated super-clones meticulously mimic their authentic counterparts, utilising similar materials, external details, and serial numbers, and are manufactured with remarkable precision. As the minefield grows more complex daily, it only serves to further instill the importance of the authentication process.
Beyond these fakes is the infamous “Frankenstein Watch”, which describes a watch composed of parts sourced from various watches and even different brands. These changes can vary from the bezel to the dial to the case. While these changes are often made to improve the aesthetic appeal of a watch, they carry the risk of being sold at inflated prices and mis-sold to inexperienced collectors. For example, a Frankenstein watch may have an original case and movement, but an inauthentic, repainted dial. To the untrained eye, this may appear genuine, yet it significantly reduces its collector value.
Examples of a Frankenstein watch may include a Rolex Submariner with a non-period-correct bezel or handset, or a Patek Philippe watch with a correct calibre number but a replaced bridge or balance wheel. Even if you’re a seasoned collector, you could be fooled into a scam purchase. The financial losses associated with counterfeit luxury watches, given their high popularity and demand, can be catastrophic.
If, for example, you pay market value for a super-clone, it stands to lose its entire purchase value as it becomes virtually impossible to sell on the pre-owned market, especially if you’re looking to sell through a reputable channel. Given the irreversible value loss of a collectible watch, it is the single most significant driver for sourcing a verifiable expert who can alleviate any uncertainties you may have before investing in a timepiece.
Professional Authentication Processes
There is no doubt that authenticity and trust have become paramount in the pre-owned market. The demand for vintage timepieces is continually rising, and thus does the need for reliable authentication services, such as those offered by stockists like Exquisite Timepieces. While there are several reputable authentication services available to help collectors identify legitimate watch purchases (such as eBay’s Authenticity Guarantee, Heather Callaway Ltd, The Watch Scholar, and LegitGrails), other lesser-known but equally trustworthy dealers can offer the same level of service.
When searching for these services, ensure that a company offers a clear returns policy, transparent descriptions, and substantial customer reviews, as well as complete documentation and certification for all its watches. The only effective defense against counterfeits and the inauthentic assembly of watch parts in a luxury timepiece is to seek a professional authentication process conducted by a trusted horological expert.
The process behind authenticating a luxury timepiece extends far beyond a quick glance at a serial number. Moreover, it requires a meticulous, forensic examination of each element of a timepiece. This thorough inspection encompasses an evaluation of the movement, dial, hands, case, bezel, bracelet, and clasp. An expert will look for verified calibers, the correct finishing on a case, authentic dial lume, and engravings that appear in all the correct locations, to name just a few examples.
Pair of vintage Patek Philippe watches, previously worn by father and son, photo taken at Time on Show Paris 2025
For example, when a watch is taken apart and its movement scrutinised by a professional, the finishing must be inspected (including decorative techniques such as Côtes de Genève, perlage, and anglage), along with all the correct hallmarks and engravings. Even minor inconsistencies, such as the shape of a bridge or a jewel setting, or incorrect screw heads, can be an immediate giveaway to an expert. When inspecting the dial of a watch, a skilled eye will scrutinize the surface for incorrect typography, logos, and signatures, as well as slight differences in the font of the lettering on the dial or the weight of the hands. The handset will also be examined for shape, size, length, and patina (the latter of which should be consistent with the age of the watch).
The case and bezel are some of the more common giveaways when it comes to identifying acounterfeit watch. The material composition of the case and its weight are easily identifiable features of an inauthentic timepiece, as are incorrect serial numbers and references, the bezel clicks, and even the depth of the engraved numerals or markings on the bezel. Experts will vet all these materials and design elements in line with factory standards. The same goes for thebracelet and clasp of a watch. Incorrect (or lack of) clasp engravings are a true giveaway of acounterfeit or Frankenstein watch, as are the structures of the end links and the quality of the clasp’s mechanism.
Beyond all of these meticulous measures, a reliable authentication process will include verification of the watch’s paperwork and presentation box, along with a genuine warranty card that a retailer can use when liaising directly with the manufacturer if needed. Provenance verification will also enable the company to trace the watch's history back to its original owner, a crucial aspect of the ownership process. All of these checks require the help of specialised equipment, including high-powered microscopes, UV lights, and state-of-the-art calibration tools.
This exhaustive process is what directly connects the collector with the expert dealer process and its importance today. A retailer or stockist of luxury pre-owned timepieces offering this service can confidently stand behind the authenticity of each watch it sells, providing the collector with an added layer of reassurance and safety.
Where the Experts Come In
Anyone can sell a watch. Surprisingly, there is nothing to stop an individual from scamming an experienced collector of many years by selling him a counterfeit watch. However, the difference between a mere seller and a trusted expert dealer is vast, underscored by foresight, knowledge, and generational experience.
One of the most valuable services that an industry expert can provide is assessing the market value of a watch versus its asking price. This is important because the watches that the company sells will always be priced genuinely, according to their condition and the current climate.
Being able to translate the subtle nuances of a watch’s condition into a tangible financial value is crucial for you as a collector. A reliable and knowledgeable expert will possess deep insights into market trends and fully understand the importance of an informed, transparent purchasing process.
Restoring and Reconditioning Standards
There is a fine line between saving a collector-grade timepiece and ruining it, and that difference hinges entirely on where you decide to have a vintage timepiece restored or serviced.
Reconditioning a luxury watch is a delicate art. An expert must first determine the appropriate level of intervention before undertaking any work and should ideally be a registered watch service company for the particular brand of watch you own.
Above anything else, it is the originality of a watch that is the most crucial facet in watch collecting, especially when it comes to vintage timepieces. Value-preserving restoration work should include a careful service of the watch, preserving its historical integrity without compromising any of its original features. It should also include a gentle cleaning of the case, whilst preserving the case lines and finishes. An expert should also work towards stabilizing any signs of age, such as the patina on a dial (this is often one of the most desirable features of a watch).
On the contrary, unskilled restoration and reconditioning services often aggressively polish the case, removing its original chamfers and finishes. They may even replace the original dial of a watch or the hands with modern service parts.
At the end of the day, a collector-grade timepiece, no matter its value to begin with, will always command a higher price than a perfectly restored one that has lost all its original character.
Every watch, whether new or old, should also be regularly serviced to guarantee accuracy, smooth performance, and sufficient water resistance.
Exquisite Timepieces Pre-Owned Credentials
Offering a rigorous authentication and inspection process is just as necessary for the dealer as well. Such practices not only serve as a safe haven for the collector but also help uphold the company's reputation, ensuring that every timepiece sold by the company is verifiable, authentic, and free from any undisclosed issues. For true horology enthusiasts and reputable dealers, this is the only way the pre-owned luxury watch sector should operate.
Dealers such as Exquisite Timepieces offer a curated selection of quality-based timepieces rather than volume-based inventory. This speaks volumes to its community of loyal customers.
Originality, provenance, and condition are not always easy to achieve on the secondary market, which makes companies like this standard-setters for a better and more transparent market. The breadth of brands offered by Exquisite Timepieces provides collectors with a spectrum of choices within the bounds of verified quality. Its selection of Blue-Chip brands includes Rolex, Omega, and Audemars Piguet, and, whether new to watch collecting or not, the company’s specialised team is on hand to provide a consultative-based approach to helping you grow your knowledge within the field of horology as you collect and shop with reassurance.
Grow Your Pre-Owned Luxury Watch Collection
Gen-Z is shaping the future of the pre-owned luxury watch market. Demographics are changing, and a younger generation of watch enthusiasts is now demanding value, sustainability, and transparency more than ever. Although the journey into watch collecting through the pre-owned route is daunting at first, prioritizing dealerships that promise a thorough authentication process will minimize the risk of falling victim to a counterfeit watch.
Rare vintage Gerald Genta Success Chronograph, photo taken at Time on Show Paris 2025
As a collector, you should always insist that documentation be provided with any authentic watch, along with its original box, paperwork, and warranty documents. A reputable dealer will always be happy to show photographic evidence of the movement once opened up, provide the originality status of key features (such as the watch’s dial, case, and hands), and supply a history of service.
Remember, placing your trust in an expert is never a sign of weakness. Even the most experienced of collectors can fall victim to fraudsters. Knowing who to trust with your watch and where to seek advice and expertise is a sign of wisdom and a skill that collectors acquire over time. And while you may make some wrong decisions before you consider yourself an official horophile, trusting in a genuine dealer who can expertly authenticate a watch will at least shield you from any catastrophic mistakes.
Disclaimer: this is a sponsored post.