Used Luxury Watch Prices Rebound After Multi-Year Correction

Used luxury watch prices continue to rebound after bottoming in January 2025, according to ZeroHedge, as secondary market indexes track higher following a multi-year correction that began after the COVID-era liquidity boom faded and interest rates rose sharply.

The Bloomberg Subdial Watch Index, which tracks prices for the 50 most-traded watches by value on the secondary market, bottomed in January 2025 and has been tracking higher ever since, the source reported.

Key takeaways
The Bloomberg Subdial Watch Index bottomed in January 2025 and has rebounded over the last year and a half, according to ZeroHedge.
Subdial's used Rolex index bottomed around $11,000 in January 2025 and has since rebounded to nearly $12,000.
The Rolex Submariner Date bottomed in the summer of 2025 at around $9,800 and has marginally increased to about $10,200 this month, still below COVID-era highs of $13,500.
Price action across the luxury watch market has not been uniform and largely depends on shifting consumer tastes and the interest rate environment, the source noted.

Table of Contents
What happened in the used luxury watch market
How COVID-era liquidity drove prices higher
Why the correction began and how deep it went
Rolex and Audemars Piguet price trends
What drives uneven price recovery
What to watch next

What happened in the used luxury watch market

According to ZeroHedge, the secondary luxury watch market has been rebounding for approximately a year and a half after bottoming in January 2025. The Bloomberg Subdial Watch Index, which tracks prices for the 50 most-traded watches by value on the secondary market, has been tracking higher since that low point.

The source reported that Subdial's used Rolex index bottomed around $11,000 in January 2025 and has since rebounded to nearly $12,000. Used Audemars Piguet watch prices have also participated in the rebound, though the source context does not specify the exact price levels for that brand's index.

The source noted that price action across the luxury watch market has not been uniform and largely depends on shifting consumer tastes and the interest rate environment. A more granular look at the used Rolex watch index shows the Rolex Submariner Date bottomed in the summer of 2025 at around $9,800 and has marginally increased to about $10,200 this month, still far from the $13,500 COVID-era highs.

For readers following broader market updates , this development can help frame the wider news context.

How COVID-era liquidity drove prices higher

ZeroHedge reported that during the COVID-era flood of free money, from stimulus checks to the Federal Reserve's zero-interest-rate policy, luxury watch prices skyrocketed. The source framed this period as a liquidity boom that drove secondary market prices to elevated levels.

The Rolex Submariner Date, for example, reached approximately $13,500 during COVID-era highs, according to the source context. The source context does not specify the exact timing of the peak or the duration of the price surge, but it clearly attributes the price increase to the combination of fiscal stimulus and accommodative monetary policy during the pandemic period.

The source context does not provide data on trading volumes, buyer demographics, or geographic distribution during the COVID-era price surge, but it establishes that the secondary luxury watch market experienced a significant price increase during that period.

Why the correction began and how deep it went

According to ZeroHedge, once the liquidity boom faded and interest rates were pushed sharply higher to rein in the inflation monster fueled by helicopter money, the secondary luxury market slid into a multi-year correction. The source reported that over the last year and a half, however, that downturn appears to have bottomed out.

The Bloomberg Subdial Watch Index bottomed in January 2025, approximately 1.5 years ago from the source publication date of June 2026, and has been tracking higher ever since. The source context does not specify the exact percentage decline from peak to trough or the duration of the correction phase before the January 2025 bottom.

The source framed the correction as a response to the Federal Reserve's shift from zero-interest-rate policy to sharply higher rates, which reduced liquidity and changed the opportunity cost of holding non-yielding alternative assets. The source context does not identify specific Federal Reserve policy actions, rate levels, or dates, but it clearly attributes the correction to the tightening of monetary policy and the end of the COVID-era liquidity environment.

Rolex and Audemars Piguet price trends

ZeroHedge reported that Subdial's used Rolex index bottomed around $11,000 in January 2025 and has since rebounded to nearly $12,000. The source also provided a more granular look at the used Rolex watch index, showing the Rolex Submariner Date bottomed in the summer of 2025 at around $9,800 and has marginally increased to about $10,200 this month.

The source noted that this level is still far from the $13,500 COVID-era highs. The source context does not specify whether the Rolex Submariner Date is representative of the broader Rolex index or whether other Rolex models have experienced different price trajectories.

The source also mentioned that used Audemars Piguet watch prices have participated in the rebound, but the source context does not provide specific price levels, index values, or percentage changes for that brand. The source context does not identify which Audemars Piguet models are included in the index or how their price performance compares to Rolex.

In recent weeks, the source reported, Audemars Piguet and Swatch launched an affordable $400 pocket watch that generated massive consumer demand, mostly because of the price point. The source context does not specify the exact launch date, sales figures, or whether this product launch has influenced secondary market prices for higher-end Audemars Piguet models.

What drives uneven price recovery

According to ZeroHedge, price action across the luxury watch market has not been uniform and largely depends on shifting consumer tastes and the interest rate environment. The source framed the recovery as uneven, with different brands, models, and price segments experiencing different trajectories.

The source context does not provide specific examples of which brands or models have outperformed or underperformed during the rebound period, nor does it quantify the impact of consumer tastes versus interest rates on price performance.

For investors, alternative asset markets such as luxury watches can matter because they often respond to similar liquidity, interest rate, and wealth effect dynamics as traditional financial assets, but with different supply constraints, transaction costs, and buyer motivations. The source context does not specify whether institutional investors, collectors, or retail buyers have driven the rebound, nor does it provide data on trading volumes, market liquidity, or price dispersion across different models and brands.

What to watch next

Market readers may watch for future secondary market index updates, additional brand-specific price data, and any further details on how interest rate changes and consumer preferences influence luxury watch valuations. The source context does not specify whether the Bloomberg Subdial Watch Index or other secondary market data providers publish regular updates, nor does it identify upcoming industry events, auctions, or product launches that may influence prices.

The source context does not provide forward-looking guidance on whether the rebound will continue, stall, or reverse. Readers may also monitor broader alternative asset market trends, including art, collectibles, and other non-yielding assets, to assess whether the luxury watch rebound is part of a wider shift in investor and collector behavior.

Without additional details on trading volumes, buyer demographics, or macroeconomic conditions, the rebound should be treated as a confirmed price trend with limited insight into the drivers, sustainability, or breadth of the recovery across the luxury watch market.

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