"Not everything good is expensive
but if it is expensive it must be good."

This is a phrase often heard in collector markets such as luxury watches, Wine and art.

While it is a somewhat convincing saying in the collection and investment industry, For beginners who lack experience and do not know the evaluation criteria, It can leave the impression that "to avoid failure you must buy an expensive watch" which may actually distance them from watches.

Therefore in this Pre-owned Market Research Part 2, We have verified the truth of the above statement from the beginner's perspective.

Brand Awareness Criteria

Choosing a brand with high awareness means selecting a brand that has been validated by the public and is an important factor in preventing failure.
So how can we quantify 'awareness' and compare the differences?

I measured awareness based on the number of units sold in the global pre-owned market in 2025. (Revenue can distort rankings if a brand sells a small number of ultra-high-priced items, So I judged it inappropriate from a beginner's perspective.)

By number of units, Rolex is overwhelmingly dominant (470, 000 units in 2025 based on the aggregated database). The gap with other brands is so large that there is some data skew but that is the reality.

Rolex Datejust Cream Tapestry Dial Ref. 16030
https://www.bulangandsons.net

If we add price as a factor to awareness and look at 'awareness relative to average transaction price' then Seiko is overwhelming. Seiko's awareness is about 11% of Rolex but its average transaction price is only 6% of Rolex.

Seiko 6306-7000 Turtle - 1976
https://www.watchvault.com.au/

© EveryWatch

Liquidity Criteria

No matter how well-known a watch is, If it is difficult to sell you may pay a harsh lesson fee. (The correlation coefficient is only 33%!) The more liquid a watch is, The more you can minimize depreciation and fees and sell quickly, So it is an essential factor I emphasize for beginners.

© Watch Terminal

Liquidity was measured based on 'inventory days'.
This is the time from listing to purchase conversion and the lower the inventory days the higher the liquidity.
[For reference, The 'purchase conversion rate' (proportion of sales within 12 months) in the database showed an 85% correlation with inventory days.]

TAG Heuer Carrera Glassbox Chronograph 39mm
https://monochrome-watches.com

Based on this criterion, Rolex was not the brand with the best liquidity (at least last year).
Even excluding the special case of Hermès, TAG Heuer, Cartier, Tudor, Omega had higher liquidity. The main reason Rolex fell in the rankings is price. While the average transaction price of Rolex exceeds $18, 000,
Tudor is under $4, 000 and Omega is about $5, 200. Even based on liquidity relative to price, Rolex is below the middle tier but TAG Heuer remains in the top five.
[There may be differences in preference between the domestic and global markets.]

© EveryWatch

Popularity Growth Rate Criteria

A rapid increase in popularity is a strong signal of undervaluation. In the first part of the 2025 pre-owned market review, We measured this by analyzing both price and transaction volume changes. Normally, When prices rise, Buyers hesitate, And when prices fall, Value for money becomes more attractive. However, If both price and transaction volume surge together, It signals that the world’s attention is focused.

The number one brand in this category is Piaget, Which saw a 32% increase in transaction price last year and a 54% increase in transaction volume.

Piaget offers creative designs like Cartier and quality and mechanical movements on par with Patek and Vacheron, But due to low brand awareness and lack of intuitive icons, It is severely undervalued in the pre-owned market.

However, Since Piaget's average transaction price exceeds $12, 000, Hamilton ranks first based on the price-to-popularity growth index. The military watch line Khaki Field is very popular in both current and vintage models, With last year's transaction volume increasing by 37% (price increased by 2%).

Hamilton Khaki Field Mechanical 38 mm H69439931
https://www.goldentreejewellers.com

© EveryWatch

Comprehensive Scoring

When combining awareness, Liquidity and popularity growth indicators, The top tier is the somewhat predictable 'Rolex-Cartier-Omega' combination.

© EveryWatch

After converting each indicator to a 100-point index, Rolex scored 207, Omega 151 and Cartier 141 out of a total of 300 to make the top three.
Tissot ranks first based on the price-to-comprehensive index, But its overall score is only 81, Below the median (102), So Hamilton (105) and Seiko (103) are considered the most balanced value-for-money starting points.

Tissot PRX Powermatic 80 - Light Blue
https://timeandtidewatches.com

Conclusion: Is Expensive Always Good?

In conclusion, For beginners, 'expensive is good' can be somewhat supported by the numbers. If you look at the scatterplot of average transaction price and comprehensive index by brand, There is a weak upward trend and the relationship between popularity growth and price is even clearer. The average transaction price of the top 10 brands in popularity growth is about $50, 000, While the bottom 10 is $4, 700.

© EveryWatch

However, According to the quantitative criteria discussed in this article, The law of diminishing marginal utility becomes clear as the price increases. Beyond a certain price point, Purchases are more about finding 'the watch I love' than 'avoiding failure' and you need to consider finishing, Complications, Dial manufacturing techniques and story in a comprehensive way.

Patek Philippe Perpetual Calendar Chronograph 3970
https://www.europeanwatch.com

Meanwhile, This research is an analysis by brand, Not by model. Even among Cartier (average transaction price $7, 400), vintage vermeil Tank can be purchased at the price level of Longines or Frederique Constant ($2, 000~$2, 500) while enjoying Cartier’s high awareness, Liquidity and popularity growth.

Do Not Fear the Pre-owned Market

VIVER Showroom Apgujeong ©VIVER

For beginners for whom economic factors are important, The pre-owned watch market is very attractive. With a few exceptions, Most new watches start to depreciate immediately after purchase and the risk of loss increases for beginners whose preferences may change.

Model Price Chart ©VIVER

On the other hand, Pre-owned watches that have already depreciated sufficiently can be purchased for less than half the price of new ones and recently there have been many cases where people sold at a higher price than they paid three or four years ago.

© EveryWatch

Also, The pace of change in watch design is very slow, So even watches that are 10 to 30 years old are not lacking at all in conveying the brand’s charm.

Rolex Datejust 36mm Silver Dial
Version History

You gain experience with watches, Enjoy beautiful watches every day and can sell them for almost what you paid or even make a little extra? Isn't that a hard opportunity to pass up?

But it is not because you do not know this that you fear the pre-owned market.

The biggest concern about pre-owned watches is confidence in authenticity and condition. That is why VIVER transparently explains the various languages and standards of 'authenticity' used in the pre-owned market from the perspective of beginners.

A "VIVER Authentication Certificate" provided with every watch purchase

It is VIVER's mission to help many beginners put aside their fears of pre-owned/vintage watches, Learn more about watches and conveniently and easily trade their favorite timepieces.