The luxury watch industry showed remarkable resilience in 2024, defying economic uncertainties to deliver strong market performance across multiple segments. While established brands maintained their market positions, shifting consumer preferences and retail strategies created new opportunities for both investors and industry players. This analysis examines the key trends, market movers, and emerging patterns that shaped the luxury watch business field over the past year.
Market leaders and sales performance
Rolex maintained its market dominance with the GMT-Master II 126710BLNR leading sales figures. The brand’s pricing strategy and controlled distribution channels continued to support its strong market position. Following closely, Omega’s strategic release of the Speedmaster Professional Moonwatch 310.30.42.50.01.002 proved successful, particularly in the $5,000-$10,000 price segment.
Patek Philippe’s decision to discontinue the Nautilus 5711/1A-010 showcased an interesting market dynamic: while initial market prices soared, the subsequent price stabilization has opened new market opportunities in the secondary market, attracting a broader customer base.
The best-selling watches each brand
While luxury watch brands compete across various price segments and styles, their best-selling models on Chrono24, one of the world’s largest luxury watch marketplaces, reveal which timepieces truly resonate with collectors and investors in today’s market.
Rolex GMT-Master II 126710BLNR
The year 2024 once again belonged to the undisputed Number 1: Rolex. No other brand has been able to surpass the worldwide popularity and stable value of Rolex. The Rolex GMT-Master II continued its dominant role, securing the title of the best-selling watch of the year.
Omega Speedmaster Professional Moonwatch 310.30.42.50.01.002
The Speedmaster Professional Moonwatch is Omega’s top model and is still a fan favorite today – rightly so. The 2021 edition is a steady improvement on the previous Speedmaster, and Omega offers sapphire crystal and Hesalit versions, each with their own advantages. The release of a thoroughly modern yet vintage-style watch under the same reference number was tantamount to a sales guarantee.
Patek Philippe Nautilus 5711/1A-010
Rumor has it that the excessive popularity of the Nautilus was a major reason for its discontinuation. While the hype surrounding the Patek Philippe Nautilus is slowly dying down, its cultural influence remains enormous. More affordable prices are attracting more potential buyers. Looking ahead to 2025, Patek hopes that a certain new model will become a sought-after watch.
The best positive performance
2024 has once again shown that watches are far more than just precise timepieces – they are investments. In addition to Rolex, there are other brands whose models have risen in value and proven to be solid collector’s items.
Cartier Santos 100 Ref. 2656
With an impressive increase in value of 26.46% in 2024, the Cartier Santos 100 has achieved the status of a coveted vintage classic. Launched in 2004 to celebrate Cartier’s 100th anniversary, this watch is not only functional but also a stylish symbol. The price range of $3,700 to $6,300 makes it an attractive investment for collectors who appreciate both design and long-term value development.
Jaeger-LeCoultre Reverso Grand Taille Ref. 270.8.62
Another brand known for its brilliant design is Jaeger-LeCoultre. Above all, the brand is known for its industry icon, the Reverso Grand Taille. The Reverso was designed in the early 1930s as a sports watch for polo players and has evolved over time into a stylish dress watch whose characteristic feature is a reversible case. With a price increase of 22.86%, this model remains a classic among dress watches. Even with prices starting at around $5,200, this watch is a solid investment and continues to be prized by collectors.
Grand Seiko SBGM221
Grand Seiko is a brand with a wide variety of great options. If you know Grand Seiko, you know that the brand makes incredible watches that are characterized by high-precision movements and exceptional craftsmanship. The Grand Seiko SBGM221 has risen in price by almost 20% and is priced at around $3100 to $4,700 on the Chrono24 marketplace.
The most popular design trends
The luxury watch market in 2024 saw significant shifts in design preferences and consumer tastes, as traditional watchmakers adapted to changing demographics and emerging style preferences while maintaining their heritage and craftsmanship, marked by several key trends:
- Case designs: Rectangular shapes surged by 12.56%, led by Cartier Tank and Santos, while tonneau and elliptical cases gained traction
- Dial features: Roman numerals increased by 9.54%, with index-only dials remaining popular despite slight decline
- Materials: Stainless steel dominated with 75.30% market share, while titanium and silver (+14.91%) showed strong growth
- Watch functions: Moon phase complications soared by 56.33%, while classic time displays held steady at 87.39%
- Color trends: Bold colors emerged in collections like Tudor Miami Black Bay Chrono, introducing pink and orange to the luxury segment
- Brand influence: Cartier emerged as a major trendsetter, while Tudor and Grand Seiko led material innovation
These trends indicate a market that’s becoming more diverse and experimental while still respecting traditional watchmaking values, suggesting exciting developments ahead for both established brands and emerging players.
Conclusion
As we look toward 2025, the luxury watch industry shows no signs of slowing down, though the path to success may look different than it did a few years ago. With changing consumer preferences and emerging design trends, the market continues to offer opportunities for brands that can balance heritage with innovation, and exclusivity with accessibility.
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