Luxury watch resellers are reporting a rise in interest from customers, as the United States prepares to impose a 31% tariff on Swiss watch exports. The move is prompting potential buyers to act quickly, anticipating higher prices for Swiss-made timepieces.
John Reardon, founder and CEO of Collectability, an online platform for pre-owned and vintage Patek Philippe watches, said he has seen increased demand from clients eager to make immediate purchases. “Their thinking is that a Patek Philippe is better than gold, better than bitcoin, and certainly better than money in the bank,” Reardon stated. Patek Philippe’s timepieces, often priced in the tens of thousands of dollars, are among the most coveted in the world.
While a spokesperson from Patek Philippe declined to comment, Reardon predicts a sharp rise in demand for vintage and pre-owned watches in the U.S. Some buyers may even travel directly to Geneva to purchase watches before prices climb further in the U.S.
Although some economists predict that the broader luxury market could be hurt by a potential economic slowdown or trade tensions, the pre-owned watch market might see benefits. Eric Wind, owner of Wind Vintage, which specializes in buying and selling vintage watches, suggests that tougher economic conditions could lead luxury watch owners to sell their timepieces to raise extra funds, increasing supply in the pre-owned market.
Wind also noted that his clients have been flooding him with purchase requests. He sells watches directly to other dealers, who are scrambling to secure inventory. “I’ve never seen anything like it,” Wind said. “Dealers are literally buying hundreds of watches to prepare for a surge once more consumers realize how the tariffs will affect them.”
In the 1950s, the U.S. imposed high tariffs on Swiss watch imports, which initially benefited American-made watch companies. However, according to Wind, those U.S. companies struggled to keep up with Swiss innovation once the tariffs were lifted, leading to a decline in the American watch industry’s fortunes.
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