Rolex and Patek Philippe Lead the Recovery: As Bitcoin Retreats, Specialized Watchmakers Gain Relevance

The high-end watch market is experiencing a remarkable rebound that starkly contrasts with the downturn in the cryptocurrency landscape. Over the past six months, prices in the secondary market for luxury pieces have risen approximately 4%, while Bitcoin has retreated around 25% and the CoinDesk 20 index has plummeted more than 30%. This shift in direction reflects a profound transformation in investor preferences, who are now seeking tangible assets rather than speculative bets.

The Stabilization of the Collectible Watch Market

According to a joint analysis by Morgan Stanley and WatchCharts, the recovery in the watch market represents a genuine stabilization after two years of downward pressure. The WatchCharts index, which tracks thousands of references from major brands, has shown steady growth. Top-tier brands—particularly Rolex, Patek Philippe, and Audemars Piguet—have led this recovery thanks to controlling excess inventory and reduced price pressure.

Rolex’s strategy of expanding its certified pre-owned watch program has been especially effective in stabilizing values in the premium segment. This controlled channel has significantly reduced volatility and provides the confidence modern investors seek, who now consider it essential to have reliable sources and specialized watchmakers capable of authenticating and explaining the true value of these pieces.

From Cryptocurrencies to Physical Scarcity Assets

The shift toward luxury watches is part of a broader movement by investors toward physical assets. While Bitcoin faces regulatory pressure and extreme volatility—currently trading near $87.79K with a 2.26% decline in the last 24 hours according to recent data—other precious metals have experienced extraordinary gains. Gold has risen nearly 70% since early 2025, while silver has surged approximately 150%, driven by industrial demand and geopolitical concerns.

Morgan Stanley highlights that this divergence is no coincidence but a reflection of deeper macroeconomic changes. Investors no longer see cryptocurrencies, collectible watches, and metals as interchangeable bets. Instead, they are clearly differentiating between volatile short-term financial assets and physical stores of value with limited scarcity.

Premium Brands Consolidate Their Dominance

The recovery has been closely concentrated among watchmakers with genuine pricing power. Rolex, Patek Philippe, and Audemars Piguet not only maintain their prices but have even seen increases in the secondary market, while many other brands continue to trade at significant discounts. Manufacturers have also raised global retail prices by approximately 7% since early 2025, helping to sustain resale values even as transaction volumes remain moderate.

This scenario has increased the importance of having trusted watchmakers nearby or in accessible markets. Investors seek not only authentic pieces but also experts who can guide their acquisitions and ensure they are obtaining true lasting value.

The Break in the Historical Correlation

During the pandemic, luxury watches and cryptocurrencies moved in tandem, driven by easy money and excessive speculation. However, starting in 2024, this correlation decisively broke. While Bitcoin soared on anticipation of spot ETFs, watch prices continued to decline under more restrictive financial conditions. Now, in 2026, the trend has reversed: Bitcoin faces difficulties while high-end watches trade firmly.

This structural change suggests that investors are evolving in their understanding of what constitutes a true store of value. Assets with controlled physical scarcity—such as authentic collectible watches, gold, and silver—are displacing volatile crypto bets in the portfolios of sophisticated investors.

Conclusion: The New Reality of the Investment Market

The recovery of the premium watch market amid the crypto downturn marks a turning point in global investment preferences. Rolex and Patek Philippe are no longer just status symbols but refuges for capital seeking stability. The growing importance of specialized watchmakers and reliable sources underscores that in this new era of macroeconomic volatility, investors value authenticity, tangibility, and professional expertise over quick speculation.