Cartier Watches Lead Appreciation, Study Finds

A recent study by Chrono24, the online watch marketplace, indicates that Cartier watches have experienced significantly greater appreciation in value over the last eight years than Rolex watches. The research analyzed thousands of watch models to determine long-term value growth, accounting for both the pandemic-era boom and the subsequent market correction.

Analyzing Eight and Four-Year Trends

Chrono24’s data analysts examined price development over two periods: the past eight years and the past four years. This approach aimed to capture the impact of the pandemic-driven surge in watch prices and the following market adjustments. The study focused on identifying models that demonstrated consistent value increases over both timeframes.

Cartier, Omega, and Jaeger-LeCoultre Dominate Gains

Surprisingly, the top 20 performing watches in terms of value appreciation did not include a single Rolex model. Instead, the list was dominated by Cartier, with 10 references, followed by Omega (5 references) and Jaeger-LeCoultre (2 references). This suggests a growing demand for these brands among collectors.

Top Performers: Must de Cartier Tank Vermeil

The Must de Cartier Tank Vermeil led the rankings, experiencing a remarkable 299% increase in value since 2018. In 2018, the watch was available for a price in the low three figures. The Panthère, in both two-tone and yellow-gold variations, also saw substantial gains, increasing by 208% and 218% respectively.

Omega and Rolex Performance

Other notable performers included the Omega Speedmaster, which gained 119%, and the Seamaster Aqua Terra, rising by 83%. In contrast, the Rolex Submariner 41, a popular model on Chrono24, only increased in value by 59% since 2018.

Why the Difference?

According to Balazs Ferenczi, head of brand engagement at Chrono24, “What these models have in common is not their price but their substance: iconic design that endures for decades and demand that is not dependent on waiting lists but on genuine collector value.” Ferenczi also noted that many of the best performers in the past eight years were significantly more affordable in 2018.

The relatively modest appreciation of Rolex models is attributed to their already high valuation in 2018 and the intense demand during the pandemic. Following the boom, Rolex prices stabilized or decreased slightly, resulting in lower percentage gains.

Market Correction and Patek Philippe

The study also highlighted the impact of market corrections on other coveted brands. For example, the Patek Philippe Nautilus has decreased in value by approximately 45% since 2022, although it still trades at nearly three times its 2018 level. This demonstrates the volatility of the secondary watch market.