Story Highlight
– Rolex eases restrictions on Exhibition-Only watch displays.
– Luxury watch thefts shift focus to high-end brands.
– Secondary market prices fall; Swatch Group raises prices.
– Rolex dominates six of the ten most desirable watches.
– Data error caused false alarm on Rolex price drop.
Full Story
In a year marked by significant changes in the watch industry, 2025 brought an array of developments that captivated readers of WatchPro. Amid fluctuating tariffs and notable executive shifts, both the industry and enthusiasts look forward to a more stable climate ahead. Here, we delve into the five most engaging stories of the past year.
**Rolex Eases Exhibition-Only Display Rules Amid Improving Availability**
In January, it was reported that Rolex had modified its policy regarding “Exhibition Only” displays at authorised UK dealers. Previously obligatory due to supply challenges and heightened demand during the pandemic, these signs have now become optional. Retailers can now openly exhibit watches, enabling potential buyers to engage with the products by trying them on.
The average waiting periods for sought-after Rolex models have markedly decreased, with Submariners’ waiting time dropping from 180 days in 2022 to around 60 days by late 2024. GMT Masters now have a waiting list of 90 days, while less popular models have eased to an immediate availability. Research from WatchCharts and Morgan Stanley indicates that demand is cooling in both primary and secondary markets, contributing to this improved access.
**Luxury Watch Theft Shifts Towards High-End Brands**
The landscape of luxury watch theft in London has evolved, with a shift in focus from Rolex to more exclusive brands such as Patek Philippe and Vacheron Constantin. In June, Detective Sergeant Andy Swindwells of the Metropolitan Police noted that criminal gangs, once targeting models like Submariners, are now stealing high-value watches to fulfill specific orders.
Although the total number of thefts declined from 560 in 2022 to 448 in 2024, there was a noted increase in incidents during the early part of 2025. High-profile thefts included valuable Patek Philippe and Richard Mille pieces, valued between £235,000 and £325,000. Swindwells acknowledged that public awareness efforts have contributed to some prevention but cautioned that vigilance remains essential.
**Secondary Market Prices Decline While Swatch Group Increases Retail Prices**
April saw continued declines in luxury watch prices on the secondary market, marking the twelfth consecutive quarter of reductions. Brands such as Omega, Cartier, IWC, and Tudor reported sale prices 30-40% below their retail values. According to Morgan Stanley and WatchCharts, the first quarter of 2025 saw a modest decline of 0.4%, the least severe since 2022.
Despite the trends affecting the luxury segment, Rolex maintains its status as the highest-value brand, with prices remaining 15% above retail. However, brands like Audemars Piguet and Patek Philippe experienced drops in their premiums, while Tudor saw a 38.4% decrease. Meanwhile, manufacturers like Swatch Group raised their suggested retail prices by 10% in response to rising materials costs, inflation, and tariffs.
**Rolex Dominates Desirability Rankings Ahead of New Releases**
A study conducted in May 2025 by Watchfinder & Co. revealed that Rolex holds a commanding position in the global luxury watch desirability rankings, featuring in six of the top ten collections. The Datejust, Submariner, and Daytona were highlighted as the most desirable models, with Omega placing fifth and seventh with its Speedmaster and Seamaster, respectively. Audemars Piguet’s Royal Oak was ranked third, while Cartier’s Santos earned the eighth spot.
The analysis incorporated data from over a million social media posts, nearly 240,000 articles, Google search trends, and responses from 3,000 people across the UK, US, and France. Factors contributing to Rolex’s top position include its recognisability and cultural significance, particularly within the American market, while specific brand preferences varied across different regions.
**Market Stability Amid Price Scare Due to Data Error**
In October, WatchCharts clarified that an alarming drop in pre-owned Rolex prices was attributed to a technical error in data processing rather than an actual market decrease. Initially, the Rolex index indicated a 1.7% decline within a week, raising concerns among collectors and dealers about the stability of the market.
Contrary to those fears, dealers in the pre-owned market reported price stability. The third-quarter analysis from Morgan Stanley and WatchCharts highlighted an overall growth in the secondary market of 1.5% year-on-year, with Patek Philippe and Rolex continuing to perform well. Rolex showcased a 15.7% retention in value, while many other brands traded at significant discounts, often 25-30% below their retail prices.
