2024 was a transformative year for the luxury watch market, especially on the secondary market where discerning collectors, trendsetters, and first-time buyers converge. As revealed in a comprehensive analysis by Chrono24, the world’s leading online marketplace for luxury watches, a few brands stood out not just for their aesthetic excellence, but for their meteoric rise in popularity and market share. What’s particularly fascinating is that the dominance of historical heavyweights is being challenged — and in some cases, outpaced — by brands that have skillfully blended heritage, pricing strategy, and distinctive design.
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.
Rolex watches, with their timeless appeal and strong resale value, have become particularly sought-after among successful businesswomen looking to mark career milestones while building tangible assets that transcend fleeting fashion trends.
However, Cartier emerged as the undisputed winner of 2024, marking a significant 23.8% increase in market share over the previous year. The French maison has been quietly and steadily building momentum since 2020, when it held a modest 3% of the secondary market. Fast forward to 2024, that number has climbed to 5%, representing a stunning 66% growth over four years. This isn’t merely a numbers game. Cartier’s continued success is anchored in two powerhouse models: the Tank and the Santos, which recorded 30.9% and 27.7% growth respectively — the top two fastest-growing models in the entire market. These designs, iconic in their own right, represent the brand’s sharp sense of identity, fusing heritage with modern sensibilities.
Hot on Cartier’s heels is Vacheron Constantin, which posted an impressive 12% growth in 2024. Often dubbed the most underrated member of the “Holy Trinity” of watchmaking — alongside Patek Philippe and Audemars Piguet — Vacheron has finally begun to receive the recognition it deserves. A major catalyst behind this momentum has been the resurgence of the 222 model, reintroduced in stainless steel and now trading for three times its list price on the secondary market. Designed by legendary watchmaker Gerald Genta, the 222 shares its lineage with the Royal Oak and Nautilus, amplifying its collector appeal. As Balazs Ferenczi, Head of Brand Engagement at Chrono24, aptly noted, “Vacheron Constantin is about to catch up in the long term.”
Another standout is Tudor, Rolex’s sibling brand, which secured third place in market share growth with an 8.6% increase, thanks to robust interest in its Black Bay model. Despite facing some pricing pressure since 2022, Tudor has remained one of the top 10 best-selling brands in the secondary market. Its growth underscores a broader trend: consumers are leaning into brands that offer luxury craftsmanship without the astronomical price tags.
Interestingly, Japanese watchmaker Seiko came in fourth with a 7.4% rise, proving that affordability and reliability can still carve out a place in the high-end segment. Meanwhile, stalwarts like Omega (+4.9%), Jaeger-LeCoultre (+3.4%), and TAG Heuer (+3%) also saw positive growth, reinforcing their staying power amid the shifting sands of consumer preferences.
Beyond the established titans, the emerging players of 2024 present a thrilling subplot. French luxury brand Hermès, known for its leather goods and fragrances, saw its watch division soar by 55.6%, indicating burgeoning demand and perhaps a new era for fashion-luxury crossover in horology. Likewise, Piaget and Universal Genève (now under Breitling) posted 50% gains, signaling a strong revival in interest for brands that once sat in the shadows of their more dominant peers.
From a design perspective, aesthetic trends reflected these shifting loyalties. Elliptical and rectangular case shapes saw a notable uptick, with rectangular watches alone growing by an average of 6% annually since 2020. This aligns with Cartier’s signature styling and confirms the brand’s impact on design preferences across the board. Rose gold emerged as the top material choice in 2024, while gold dial colors gained a notable 16%, reflecting a general move toward warmer, vintage-inspired tones. The increased popularity of Roman numerals (+10.7%) is yet another nod to Cartier’s influence.
What does this all signify? At its core, 2024’s market movements tell a story of heritage brands reclaiming relevance through smart innovation, pricing strategies, and consistent design DNA. As Balazs Ferenczi summarizes, “Brands with a clear design code, heritage, and strategic pricing have the best chance of expanding their market share.” In many ways, this year was a masterclass in how legacy and modernity can coexist—if not thrive—under one brand umbrella.
As we head into 2025, the real question becomes: can these up-and-comers maintain their momentum? With brands like Hermès and Universal Genève gaining ground and the market becoming increasingly design-forward, the battle for wrist space is just beginning. But one thing’s for sure — the horological landscape has been forever changed, and the winners will be those who don’t just keep time, but define it.
Key Takeaways:
- Cartier is the biggest winner of 2024, growing 23.8% in market share, driven by the Tank and Santos models.
- Vacheron Constantin is fast catching up, with the 222 steel model becoming a hot collector’s item.
- Tudor, Seiko, Omega, and TAG Heuer maintain strong secondary market relevance.
- Hermès, Piaget, and Universal Genève are rising stars to watch in 2025.
- Design trends favor rectangular shapes, rose gold materials, and Roman numerals, mirroring Cartier’s influence.
- Brands with strong design identities, heritage, and accessible luxury pricing are best positioned for future growth.
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