Major US dealers have shared their observations on trends in the watch-collecting industry in 2023 and their expectations for 2024:
Rise in popularity of gold watches: There is a significant surge in demand for gold watches. While steel sports models have long been the preferred choice, the trend has now shifted towards customers wanting the elegance and luxury of full gold timepieces.
Increasing demand for strapped watches: Watches with straps, particularly those made of fabric, are experiencing a resurgence in popularity. Collectors are embracing a wide range of styles and preferences, seeking variety in their timepiece collections.
Emphasis on smaller case sizes and material combinations: There is a growing demand for two-tone stainless steel and gold watches, accompanied by a return to smaller case sizes. Women's watches in miniature sizes, such as the Rolex Datejust 28 or 31 and Cartier Panthere Mini, are setting new sales records.
Revival of unique case shapes: Custom-shaped cases like the Patek Philippe Ellipse and tonneau shapes, as well as distinctive models like the Cartier Crash, are witnessing a renewed interest among collectors.
Appreciation for vibrant dial colors: Both men and women are showing a heightened appreciation for vibrant dial colors, moving away from traditional options like black, blue, silver, and white. This shift reflects a desire for more visually striking timepieces.
Sustained interest in watches: Despite economic challenges, the interest in watches remains strong, and 2023 proved to be one of the most successful sales years in recent decades.
Looking ahead, the watch collecting industry is expected to continue its growth trajectory, with a surge in inquiries anticipated following the Watches and Wonders events in 2024. New collectors are entering the market, and the demand continues to outpace the supply of timepieces.
Overall, these observations indicate that collectors' interest in watches remains steadfast. Collectors are becoming more discerning in their preferences, seeking unique and diverse timepieces that bring them genuine joy. Manufacturers are also attuned to these trends, and exciting new products are expected in 2024 to cater to collectors' evolving tastes.
