Let’s Talk about the Luxury Watch Market
A quick overview of the current luxury watch market.
2 min read
I’m not just talking about Rolex although I may as well be. In the luxury watch market, Rolex dominates. Rolex has consistently held the top position in the luxury watch market for as long as the segment has been recorded. With a 30.3% retail market share, Rolex has four times the market of either Cartier (7.5%) or Omega (7.5%). Put them together, and Rolex still doubles their share of the market.
There are four privately owned luxury watch companies that the industry calls the Big Four. These watch brands (Rolex, Patek Philippe, Audemars Piguet, and Richard Mille) collectively hold a around 47% of the market. Rolex, in particular, dominates with a substantial 32.1% market share. The other three make up 15% of the market. Even altogether, they don’t add up to Rolex.
Here’s a market Share Breakdown you might find interesting from Morgan Stanley/LuxeConsult:
1. Rolex: 32.1% retail market share, leading the luxury watch market.
2. Cartier: 7.5% market share.
3. Omega: 7.5% market share.
4. Patek Philippe: 5.6% market share.
5. Audemars Piguet: 4.9% market share.
6. Longines: 3.4% market share.
7. Richard Mille: 3.1% market share.
8. Vacheron Constantin: 2.7% market share.
9. Breitling: 2.4% market share.
10. IWC: 1.9% market share.
Rolex also dominates the secondary luxury watch market, with a 34.2% share of global transaction volume, according to Chrono24. The global luxury watch market is projected to grow significantly in the coming years, according to Fortune Business Insights.
What does this tell you?
Well, one thing it ought to tell you is that Rolex is poised to continue as an excellent choice is a watch holding its value as time passes matters to you. It also ought to explain why sometimes you can’t get the watch you want when you want it. Rolex is in high demand.
But if you’re in the market for a pre-owned Rolex in San Diego, I can help. Give me a call and if I can’t find what you’re looking for, I can often find it for you. So reach out or drop by my San Diego Showroom. You’ll be glad you did.
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