Is Rolex Still the King of the Pre-Owned Watch Market?

Rolex remains the most influential brand in the pre-owned luxury watch market, but its dominance is no longer as overwhelming as it was during the pandemic-era buying frenzy.

According to a recent report from luxury watch marketplace Chrono24, Rolex accounted for 30.5 percent of sales on its platform in the second quarter of the year. That is still far ahead of any competing brand, but it represents a significant decline from the 44.1 percent share Rolex reached during its 2022 peak.

The shift does not mean Rolex has lost its appeal. Instead, it reflects a market that is becoming more balanced. As speculative demand cools and collectors become more selective, brands such as Patek Philippe, Vacheron Constantin, and Cartier are gaining more attention among high-end buyers.

Rolex remains the benchmark for pre-owned luxury watches
The secondary market has become one of the most important indicators of luxury watch demand. Unlike the official retail market, where availability is often controlled by authorized dealers, resale platforms reveal what buyers are actually willing to pay.

By that measure, Rolex continues to lead.

Chrono24 reported that Rolex sales volume remains roughly three times higher than Omega, its closest large-scale competitor by transaction volume. With hundreds of thousands of watches listed on the platform, Rolex continues to benefit from unmatched brand recognition, global demand, and a relatively strong resale ecosystem.

The brand’s pricing strength is also notable. Chrono24’s Rolex price index shows that Rolex watches traded on its platform have increased by approximately 55 percent compared with 2019 levels.

However, that growth needs context. Rolex benefited more than many competitors from the pandemic-era surge in luxury spending, when limited supply and intense demand pushed certain models far above retail prices. As the market normalized, Rolex also experienced the largest correction from its peak.

In other words, the decline in market share reflects a return toward normal conditions rather than a collapse in demand.

Why Rolex’s market share has fallen since 2022
The pandemic created unusual conditions for luxury watches. Consumers with extra disposable income turned toward collectible goods, while shortages of popular Rolex models encouraged speculation.

Sports watches such as the Rolex GMT-Master II, Rolex Submariner, and steel Rolex Daytona became especially desirable. Some buyers purchased these watches not only because they liked them, but because they expected prices to continue rising.

That environment helped push Rolex’s share of Chrono24 sales to historic levels.

As the market cooled, buyers became less focused on chasing the most hyped models. Collectors began spreading their spending across more brands, especially at higher price points where alternatives offer different histories, designs, and complications.

Chrono24’s data suggests that this change is particularly visible among younger collectors. Buyers under 30 still spend more on Rolex than any other age group, accounting for about 34 percent of Rolex spending compared with roughly 27 percent among customers over 60. However, younger buyers have also reduced the percentage of their watch spending allocated to Rolex compared with the 2022 peak.

The result is not a rejection of Rolex. It is a sign that younger collectors are exploring a wider range of brands.

High-end competitors are gaining ground above $20,000
Rolex remains strongest in the middle of the luxury market, particularly between $10,000 and $20,000.

According to Chrono24, Rolex represents 61.4 percent of sales in that category. This segment includes some of the brand’s most recognizable models, including the Submariner, GMT-Master II, and steel Daytona.

The picture changes at the very top end of the market.

For watches priced above $20,000, Rolex’s share falls to 38.6 percent. While that still places the brand ahead of competitors, the gap has narrowed. Patek Philippe accounts for 23.1 percent of sales in this category, while Audemars Piguet represents 13.8 percent and Vacheron Constantin has been gaining momentum.

This makes sense because buyers spending more than $20,000 often look beyond brand recognition alone. They may prioritize craftsmanship, complications, historical significance, or exclusivity—areas where independent prestige and traditional watchmaking brands have strong appeal.

Rolex has always represented reliability, recognition, and long-term value. But at the highest levels of collecting, buyers often seek something less universally recognized.

The Rolex models buyers want are changing
Although Rolex’s most famous sports models continue to attract strong demand, collector preferences are shifting.

The discontinued red-and-blue “Pepsi” GMT-Master II remains one of the strongest examples. According to Chrono24, its resale value increased approximately 23 percent year over year, reaching around $25,893.

That performance shows that scarcity still matters. When a desirable Rolex model becomes difficult to obtain, collectors continue to compete for available examples.

At the same time, another replica Rolex model has quietly become a major driver of marketplace activity: the Datejust.

Chrono24 reported that the Datejust is now Rolex’s largest revenue-generating model on its platform, representing about 28 percent of sales revenue. Its appeal reflects a broader change in collecting habits. Rather than focusing exclusively on high-profile sports watches, many younger buyers are entering the market through more classic and versatile models.

The Datejust offers a different value proposition: it is recognizable, historically important, easier to wear daily, and often more accessible than models such as the Daytona or GMT-Master II.

What this means for watch buyers
For buyers considering a Rolex or another luxury watch, the changing market creates both opportunities and challenges.

Rolex remains one of the safest choices in terms of brand recognition and resale demand. Few watchmakers have the same combination of global reputation, production scale, and secondary-market liquidity.

But buyers should be careful not to assume every Pre-Owned Rolex will automatically increase in value. The pandemic period was unusual, and prices for certain models were driven by conditions that may not repeat.

A better approach is to separate collecting from speculation. Models with lasting demand, strong design identity, and historical importance tend to perform better over time than watches purchased only because they are currently popular.

The broader lesson from Chrono24’s data is that luxury watch collecting is becoming more diverse. Rolex still sits at the top of the market, but collectors are increasingly willing to look elsewhere.