Are watches an investment ?

Are Watches an Investment?
What collectors, newcomers, and market-watchers need to know.

In recent years, the question "Are watches an investment?" has become more than just casual collector talk — it’s become a serious consideration in the world of alternative assets. With soaring prices for certain models, auction records being broken, and watch waitlists that rival luxury car orders, it's easy to think that buying a Rolex or Patek Philippe is akin to picking up stock in Apple. But is that really the case?

At Hourly, we deal with watches every day — not just as objects of style and engineering, but as market-driven pieces of value. And the truth is nuanced.

The Emotional vs. Financial Investment

First and foremost, watches are emotional investments. A timepiece often marks a milestone: a graduation, a promotion, a wedding, or simply a passion for craftsmanship. The personal value of a watch can be priceless, and that’s one of the reasons horology has such a loyal following.

But on the financial side, things get more complex.

Yes, Some Watches Appreciate in Value

Certain watches — particularly steel sport models from Rolex, vintage Patek Philippes, and limited-edition pieces from brands like Audemars Piguet and F.P. Journe — have seen exceptional appreciation over the years. This has led to the idea that watches, broadly speaking, are an asset class.

In reality, only a small fraction of watches reliably appreciate. These tend to share a few characteristics:

• Brand pedigree and legacy

• Low production volume or limited availability

• Strong secondary market demand

• Historical significance or design innovation

If you bought a Rolex Daytona 116520 ten years ago, chances are it’s worth significantly more today. Same with a Nautilus 5711 or a Royal Oak Jumbo. But these are exceptions — not guarantees.

Market Trends Are Unpredictable

Like all markets, the watch market is cyclical. Prices rose dramatically between 2020 and 2022, only to cool off in 2023 and 2024. External factors — inflation, crypto performance, global events — all influence how people buy and sell luxury goods. Watch values can dip just as easily as they rise.

Those treating watches as quick-flip assets often find the timing and liquidity trickier than expected. Unlike stocks or real estate, reselling a watch at top value requires strong market timing, authentication confidence, and the right buyer.

What About Value Retention?

While most watches won’t double in value, many do retain their worth better than other luxury purchases. A well-maintained Rolex Submariner or Omega Speedmaster will often hold a good percentage of its original value over time — especially if bought pre-owned at market value.

Compare that to driving a new car off the lot or buying high-end fashion — watches start to look like a relatively stable place to park your money.

The Smart Approach: Buy What You Love

The best advice we give at Hourly? Buy a watch you’d love to wear, even if its value stayed flat. If it appreciates, that’s a bonus. If it holds steady, you’ve still enjoyed something beautiful, mechanical, and meaningful.

Watches can be an investment — but they’re not just that. They’re wearable art, feats of engineering, and personal symbols of time itself. And that’s a return you can’t measure in dollars.

Final Thoughts

So, are watches an investment?
Yes — sometimes. But always in more than one way.

Whether you’re collecting vintage Daytonas, building a modern rotation, or just buying your first mechanical watch, focus on the real value: passion, heritage, and time well spent.