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Recent political and economic developments in the US have resulted in trade disruptions, inflated prices, and shifting consumer behaviours. Luxury Swiss watches are no exception to the rule, with US tariffs extending to include luxury European-made goods.
Read on to learn more about how these developments are impacting the luxury Swiss watch market and driving preowned demand.
Trade Between US and EU
Following Donald Trump’s most recent administration beginning in January 2025, the US has imposed a series of import taxes on foreign goods in an effort to improve the US job market and boost US manufacturing. The consequences of this have been significant, throwing the world economy into chaos and increasing prices for US consumers.
The US initially imposed a 20% import tax on all EU-made products in early April, but this was reduced to a 10% import tax just hours later to allow time for negotiation. Trump has since stated he plans to increase the rate to a 50% import tax.
US Tariffs on Luxury Swiss Watches
The US initially imposed a 31% import tax luxury on Swiss watches before the rate was temporarily dropped down to a 10% import tax, pending trade negotiation.
In recent years, Switzerland and a number of other European countries had introduced Digital Services Taxes (DSTs), impacting a number of US tech companies including Google, Amazon, and Facebook. The US Trade Representative (USTR) likely imposed the tariffs on luxury goods, including Swiss watches, in retaliation for what it deems to be discrimination against the US.
Increases in Preowned Demand in the US
As a direct result of the tariffs, prices for new imported Swiss watches in the US have skyrocketed. With popular models like Rolex, Patek Philippe, and Audemars Piguet already commanding premium prices, many American buyers have turned to the preowned market in search of more favourable deals. This surge in demand has led to inventory shortages and a sharp rise in resale values for well-maintained, high-demand pieces across platforms in the US.
What This Means for the UK Swiss Watch Market
Although retail prices in the UK have remained comparatively stable, the ripple effect of the US tariffs is being felt. London-based dealer Subdial reported a 160% increase in trading volume around April 2025, as global buyers rushed to secure watches before further price escalations.
Meanwhile, Watches of Switzerland, the UK’s largest luxury watch retailer, announced record revenue of £1.65 billion in the tax year ending in April 2025. However, profit margins came under pressure as brands like Rolex, Omega, and TAG Heuer raised wholesale prices to offset the impact of US tariffs.
What This Means for UK Consumers
Demand for Preowned is Booming
With new watch prices surging globally, more buyers are turning to the preowned market. In particular, collectors from the US and Asia are increasingly seeking out UK sellers, taking advantage of stable pricing and a strong exchange rate to acquire sought-after models.
Resale Values Are Strong
Marketplaces have reported a significant uptick in offer prices for popular models such as the Rolex Submariner, Daytona, Omega Speedmaster, and Patek Philippe Nautilus. If you have one of these or similar high-demand watches in your collection, now may be the ideal time to sell at top market value before supply catches up.
For Now, it’s a Seller’s Market
Current demand is outpacing supply, creating a favourable environment for sellers. However, this window may not stay open for long. As inventories shift and new pricing structures settle in, values may begin to level off or decline.
Selling Your Luxury Swiss Watch
Hart Time buys luxury Swiss watches from a range of brands including Rolex, Tag Heuer, Omega, Breitling, and countless others. If you are looking to get a valuation or sell your watch, we’re highly experienced UK watch buyers here to get you the best price with a hassle-free buying service. As luxury, vintage, and antique watch buyers, Hart Time is dedicated to providing only the very best service.
If you’re considering selling your luxury watch, please get in touch with us today. Our highly experienced and friendly team are here for you and ready to help.