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Rolex and other high-end brands see luxury watch resale market reach record highs

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(Photo by Justin Sullivan/Getty Images)

Rolex and other high-end luxury watch brands lead the way as the resale market hots up in the US.

In partnership with Vogue Business, eBay has released an all-new Luxury Trend Report showcasing a snapshot of luxury trends in the states.

It comes at a time when the resale market is booming and analyses the tried-and-true popularity of iconic brands, a look at emerging styles, and consumer sentiments towards luxury and luxury resale.

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Looking specifically at luxury watches, eBay reports how sales on the resale market are at a record high.

As expected, the usual suspects include Rolex, Omega, Patek Philippe, Breitling and Cartier in driving this demand which amounted to more than 25,000 watches being sold in the first half of 2021 on the platform.

It also explained how its efforts as part of eBay’s Authenticity Guarantee have come to fruition.

Following the launch of programme, many brands saw upticks in searches, such as IWC, whose searches increased +12% month over month.

So successful, the scheme has now been expanded to other high-end fashion items and accessories such as luxury hand bags.

Analysing at the luxury resale market more generally, figures show how men are more likely to invest in pre-owned luxury, with 57% of men buying pre-owned luxury at least once a month compared to 37% of female shoppers.

Men are also more likely to turn their investment into a sale, with 64% of men selling pre-owned luxury purchases compared to 50% of women.

Geographically, while trends may differ from city to city, it is clear that shoppers across the US can all agree on luxury.

In 2021, the largest percent of Chanel sales in the US were from the West Coast, and in the Northeast, oversized totes sold better than any other region.

In addition to price (45%), luxury shoppers say the ability to find rare and vintage items (33%), exclusive products (31%) and sold-out products (28%) are why they shop pre-owned.

You can view the full report HERE.

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