Mechanical luxury watches have long been more than accessories. They are cult objects, status symbols and, for many investors, a serious store of value. Over the past few years, the watch market has evolved into an economy of its own, shaped by desirability, scarcity and a global collector community. But does the investment really pay off? And which myths stubbornly persist?
The watch as an asset class: a market in transition
The secondary market for luxury watches has professionalized like few other collecting fields. Auction houses, specialist dealers and digital platforms provide transparency, historical price data and worldwide demand.
While models such as the Rolex Daytona, Patek Philippe Nautilus and Audemars Piguet Royal Oak remain among the most stable stores of value, the market also shows that prices do not move in a straight line. After extreme peaks around 2021/22, the market stabilized again – a natural process that does not diminish its long-term appeal.
Key Insight:
Watches are not a vehicle for short-term speculation; they perform best over long holding periods.
Value retention: which models hold up in the long run?
Certain characteristics ensure that a watch remains sought-after over the long term:
Iconic status
Models with decades of history often develop stable demand.
Limited availability
Watches whose supply is deliberately kept tight often show disproportionate value potential.
Strong brand identity
Brands that have remained independent or have a clear DNA tend to fare better over time (e.g., Rolex, Patek Philippe, Audemars Piguet).
Condition & originality
Especially in the vintage segment, the rule is:
Original parts + box & papers = value drivers
Myths and misconceptions: what investors need to know
Myth 1: "Every Rolex goes up in value."
False. Many models hold their value well, but far from all of them generate returns.
Myth 2: "Watches are a quick way to make money."
The best results are achieved by collectors with a long-term view.
Myth 3: "The market is risk-free."
Like any tangible-asset market, the watch market is cyclical.
Risks and trends
Risks:
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Market cycles & short-term price fluctuations
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High buyer expectations after the boom
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Fakes / Frankenwatches
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Illiquidity of certain niche models
Trends:
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Growing importance of transparent price histories
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Professionalization of the vintage segment
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Focus on craftsmanship rather than hype as a source of value
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Stronger demand for neo-vintage (1990–2010)
Lifestyle and investment: a modern symbiosis
Luxury watches remain fascinating – not only as an expression of personal style, but also as potentially value-retaining assets. The key, however, lies in understanding, patience and a clear focus on facts rather than myths. If you combine passion with knowledge, you will find in the world of mechanical watches an asset class that stands the test of time.
