The United States implemented a 39% tariff on Swiss imports beginning in August. Luxury watchmakers including Rolex, Patek Philippe, and Omega raised retail prices, prompting shoppers to seek alternatives. Pre-owned marketplace Bob's Watches recorded a 36% year-over-year increase in transactions in July, exceeding 20% growth in the prior quarter. Market participants expect secondary-market prices could rise substantially, with one dealer projecting up to a 35% increase depending on demand. Buyers concentrated on steel sports and vintage Rolex models such as the Daytona and Submariner to avoid new price hikes and to diversify investments due to low stock correlation.
Some watch collectors are stocking up on Rolexes like they're going out of style - or at least going up in price. With Swiss imports to the US facing one of the highest tariff rates in the world at 39% and watchmakers like Rolex, Patek Philippe, and Omega raising prices, some shoppers have turned to the secondhand market in recent weeks.
Pre-owned watch marketplace Bob's Watches told Business Insider that sales transactions on its platform climbed 36% year over year during the month of July, compared with 20% growth in the second quarter. This growth came as the watch world braced for proposed tariffs that kicked in August. Another watch dealer, marketplace Swiss Watch Expo, told Business Insider earlier this month that, depending on demand, he expected prices on the secondary market to increase by as much as 35% in the next six months.
The Daytona is a true "trophy watch," Altieri told Business Insider. With its history in racing and limited production, the piece gets an especially exclusive status in the collector community. "Despite market swings, when tariffs hit, buyers see these pieces as scarce assets that will only climb over time," Bob's Watches CEO Paul Altieri said. For Bob's Watches, steel sports and vintage models drove July's spike in average order value.
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