I. A Dramatic Shift in Market Dynamics: From Lone Leader to Rising Rivals

In 2024, the luxury watch secondary market underwent a structural transformation. According to the latest Chrono24 data, Rolex’s market share slipped from a pandemic peak of 50% to 34.2%. While it retains its leading position, the gap with second-place Omega (10%) has narrowed from sixfold in 2022 to 3.4 times today. Notably, Cartier has surged to fourth place with a 5.2% share, emerging as the fastest-growing brand over the past five years, with transaction volume doubling since 2020.

Chrono24 dataChrono24 data

This reshuffling stems from dual forces: On one hand, Rolex’s restored production capacity has led to oversupply, shrinking secondary premiums for signature models like the Daytona from 35% to 8%. On the other, Cartier’s product innovation has successfully captivated younger consumers, with its Tank Must series accounting for 47% of sales among the 25-35 age group.

II. Cartier’s Winning Formula for Defiant Growth

Strategy 1: The Art of Balancing Classic Reinvention

 

Cartier masterfully employs a “70% classic + 30% modern innovation” approach:

  • The Santos-Dumont ultra-thin retains the 1904 prototype lug design, slimmed to a 7.3mm profile, and features a quick-release strap system.
  • The Tank Must series introduces a solar-powered movement, preserving its iconic square case aesthetic while offering three years without a battery change.
Cartier WatchesCartier Watches

Strategy 2: Capturing the Gender-Neutral Trend with Precision

Sales data from 2024 reveals that 63% of buyers for Cartier’s sub-38mm models are from gender-neutral demographics, with the Santos medium (35.1mm) achieving a near 1:1 male-to-female wearer ratio. The brand further offers mix-and-match leather and metal strap sets to cater to personalized preferences.

Strategy 3: Cultural Storytelling for Emotional Resonance

Cartier’s collaboration with the Louvre produced the limited-edition “Egyptian Pharaoh” series, integrating archaeological motifs into dial designs. This collection sustains secondary market prices at 120%-135% of retail, showcasing the power of cultural premiums.

III. Rolex’s Defensive Play: The Double-Edged Sword of the CPO Program

Rolex CPO ProgramRolex CPO Program

To bolster its market stronghold, Rolex launched the Certified Pre-Owned (CPO) program in 2022, triggering three unintended effects:

  • Price Transparency Shock: Official secondary price guidance has tightened value fluctuations for popular models like the Submariner “Hulk” to ±5%.
  • Shift in Consumer Trust: 38% of buyers now prefer purchasing pre-owned watches from authorized dealers, increasing independent retailers’ inventory turnover by 15 days.
  • Lifecycle Extension: Refurbishing and reselling specific vintage models prolongs the market relevance of classic designs.

IV. Three Key Insights for the Future Market

Stable Appreciation Over Boom-and-Bust Cycles

Cartier’s steady 5-8% annual value growth outshines Rolex’s once-volatile 30% swings, earning favor among rational investors.

The Rise of the Size Revolution

Demand for 36-39mm gender-neutral sizes has risen 22% annually, while transactions for previously dominant 42mm+ sports models have dropped 13%.

Sustainability as the New Battleground

Watches made from recycled metals enjoy a 9% premium boost. Cartier’s Tank SolarBeat, bolstered by eco-certification, sees 25% faster secondary market circulation.

Rolex CounterRolex Counter

A New Standard of Value on the Wrist

As speculative fervor fades, consumers are evaluating watches with a more discerning eye. Cartier’s triumph demonstrates that cultivating cultural heritage and wearer experience outweighs chasing short-term premiums—a formula that may well be the true “recession-proof” secret of high-end watchmaking.