2025 Asia Ultra High Net Worth Individuals Watch Consumption and Collection Report
Reporting agency: Pridebay (Asia’s leading lifestyle research firm for ultra-high-net-worth individuals)
Core Summary: This report is based on Pridebay’s special survey of 1,200 ultra-high-net-worth individuals (with investable assets ≥$30 million) across 12 major Asian economies (China, Hong Kong, China, Taiwan, China, Japan, South Korea, Singapore, Malaysia, Thailand, India, UAE, Saudi Arabia, Indonesia). Combining industry data, brand dynamics, and market transaction records, it comprehensively analyzes the core characteristics, market trends, brand preferences, and future directions of ultra-high-net-worth individuals’ watch consumption and collection in Asia in 2025. In 2025, influenced by global economic fluctuations, evolving consumption concepts, and technological innovations, the watch consumption of ultra-high-net-worth individuals in Asia exhibits a trend of "rational contraction, value focus, and diversified differentiation." The collection market shifts from "brand worship" to "value return," with scarcity, technological innovation, and humanistic attributes becoming key considerations. The secondary market and digital empowerment emerge as new growth points for the industry, regional market differences become more pronounced, and the China market continues to serve as the core engine in Asia.
As a cornerstone of high-end luxury, wristwatches transcend their role as timekeeping instruments. They serve as status symbols, wealth indicators, and lifestyle statements for Asia’s ultra-high-net-worth individuals, with their consumption and collection behaviors deeply intertwined with global economic conditions, wealth distribution patterns, and cultural trends. In 2025, as the global economy undergoes structural adjustments and wealth concentration in Asia continues to rise, economic volatility is driving a shift in ultra-high-net-worth individuals’ consumption philosophy from "show-off spending" to "rational value-driven consumption." Concurrently, the emergence of younger ultra-high-net-worth groups, the impact of smart wearable devices, the standardization of the second-hand market, and the application of blockchain technologies are all profoundly influencing the wristwatch consumption and collection market.
Pridebay, Asia’s premier lifestyle research institution for ultra-high-net-worth individuals, has long specialized in high-end lifestyle trends. Through multidimensional research and data analysis, it provides a comprehensive analysis of emerging changes and trends in watch consumption and collection among Asian ultra-high-net-worth individuals by 2025, offering professional insights for watch brands, collectors, wealth management institutions, and industry professionals.
1.2 Research Scope and Methods
This study covered 12 major Asian economies, targeting ultra-high-net-worth individuals with investable assets of $30 million or more. A total of 1,500 questionnaires were distributed, with 1,200 valid responses collected, yielding an 80% response rate. The demographic breakdown was 68% male and 32% female, with 31% aged 35 or younger, 45% aged 36-50, and 24% aged 51 or older.
The research methodology combines quantitative surveys with qualitative analysis, including questionnaires, in-depth interviews (with 20 seasoned watch collectors, brand executives, and industry experts), market data monitoring (covering brand sales, auction results, and second-hand market transactions), and literature review, to ensure the report’s objectivity, comprehensiveness, and professionalism.
- Asian high-net-worth individuals: Asian individuals or families with investable assets of at least $30 million, including entrepreneurs, financial investors, family heirs, and high-net-worth professionals.
- Wristwatch consumption: Purchases made for personal use or as gifts, including both new and pre-owned timepieces.
- Wristwatch Collecting: A practice focused on long-term ownership, value appreciation, and cultural heritage preservation, with particular emphasis on rare, limited-edition, classic, and craft-worth watches.
II. Overview of the Watch Consumption and Collection Market for Asia’s Ultra-high Net Worth Individuals in 2025
2.1 Market Size: Steady Growth with Core Market Driving Expansion
In 2025, Asia’s ultra-high-net-worth individuals (UHNIs) market for watch consumption and collection reached $89 billion, registering a slight 2.3% year-on-year decline. This was primarily driven by cautious spending amid global economic volatility, though the overall market remained stable. Specifically, new watch sales totaled $58 billion, down 4.1% year-on-year, while second-hand watch transactions surged $31 billion, up 3.8% year-on-year, emerging as the primary growth driver.
From a regional perspective, China’s mainland (including Hong Kong and Taiwan) remains the core market in Asia, accounting for 47% of the total market size, with China’s mainland contributing 32%, Hong Kong, China 11%, and Taiwan, China 4%. Singapore, Japan, and South Korea account for 15%,12%, and 10% respectively, forming the second tier of the Asian market. Emerging markets such as India, the UAE, and Saudi Arabia are growing significantly, collectively accounting for 16%, emerging as potential growth drivers in the future market.
Notably, the high-end personal luxury market in China is expected to shrink by 3% to 5% overall in 2025. According to a Hurun Research Institute survey, China’s high-net-worth individuals with assets exceeding 10 million yuan plan to reduce their wristwatch spending by 123,000 yuan in the coming year, reflecting their cautious attitude toward luxury watches. However, this contraction is mainly concentrated in the mid-range luxury watch segment, while the top-tier market remains resilient. Scarce models from top brands such as Patek Philippe and Audemars Piguet continue to face a "one watch hard to come by" situation.
2.2 Market Environment: Multiple Factors Drive Market Structural Adjustment
2.2.1 Economic Environment: Fluctuations Tend to Stabilize, Consumption Becomes More Rational
In 2025, the global economy experienced a slowdown in growth. While inflationary pressures eased somewhat, uncertainties persisted. Wealth growth among Asia’s ultra-high-net-worth individuals decelerated, with consumption trends shifting from "blind brand chasing" to "value-centric priorities." In watch purchases, buyers increasingly emphasized quality, rarity, and long-term value retention, steering clear of impulsive spending. This trend led to a noticeable contraction in mid-to-low-end luxury watch consumption, while premium and niche high-end watches maintained stable demand.
2.2.2 Policy Environment: Strengthened Regulation and Enhanced Market Standardization
Several Asian economies have strengthened regulations on the luxury goods market, focusing on standardizing the smuggling of watches, the circulation of counterfeit goods, and transactions in the second-hand market. China has further improved its import tariff policies for luxury goods, optimized cross-border e-commerce supervision, and promoted the standardization of second-hand luxury goods transactions. Singapore and Hong Kong, China have simplified the import process for high-end watches, establishing them as hubs for luxury watch transactions and attracting ultra-high-net-worth individuals worldwide to participate in collecting and trading. The Fuyisi Hong Kong Autumn Auction concluded with a "white glove" sale of HK$304 million, pushing the Asian auction market’s transaction volume to a new high of HK$566 million.
2.2.3 Technology Environment: Digital Empowerment, Upgrading of Consumption and Collection Models
The application of blockchain technology in the watch industry is gradually becoming widespread. Rolex launched its blockchain digital authentication system in September 2025, providing second-hand watches with an unalterable "digital passport," which drove a 23% increase in second-hand transactions within three months of implementation. Digital services such as online appraisals, virtual try-ons, and online auctions have become mainstream, with platforms like Chrono24 becoming the preferred choice for young collectors. In 2025, online sales of mechanical watches accounted for 28% of total sales. Meanwhile, the rise of smartwatches has impacted the mid-range watch market. Brands like Huawei and Apple have diverted some mid-range and entry-level high-end watch consumers with their practicality and technological appeal, but their impact on the consumption and collection of top-tier watches by ultra-high-net-worth individuals remains limited.
2.2.4 Social Environment: The Rise of the Younger Generation and Evolution of Consumption Concepts
In 2025, Asia’s ultra-high-net-worth individuals are trending younger, with those aged 35 and under accounting for 31% of the total—a 6-percentage-point increase from 2023. The younger generation prioritizes personalization and diversity, moving beyond traditional brand worship to favor niche luxury brands, independent watchmakers, and timepieces with distinctive designs and narratives. Their heightened focus on cultural significance and craftsmanship is driving the watch collecting market to shift from quantity accumulation to quality enhancement. Bain & Company data reveals that 47% of second-hand luxury watch buyers in 2025 are 18-35 year-olds, marking a dramatic rise from 28% in 2022.
III. Core Characteristics of 2025 Asian Ultra-high Net Worth Individuals’ Watch Consumption
3.1 Consumer Preference: Top Brands Dominating, Niche Brands Rising
3.1.1 Brand Preference: Concentration in Leading Brands, Differentiation in Niche Markets
Research indicates that in 2025, top-tier luxury brands will continue to dominate the watch consumption market among Asia’s ultra-high-net-worth individuals. The top five brands—Patek Philippe, Audemars Piguet, Vacheron Constantin, Rolex, and Jaeger-LeCoultre—collectively account for 68% of the market share. Patek Philippe leads with 21%, as its rare and limited-edition watches remain the preferred choice for high-net-worth individuals. The Patek Philippe 5002P-001 was auctioned for nearly HK$15 million at Christie’s Hong Kong. Rolex has maintained its position as the most favored watch brand for high-net-worth individuals for the fourth consecutive year, with its Seamaster and Daytona series remaining popular. The brand has further solidified its market position by streamlining its retail network, upgrading consumer experiences, and introducing an official pre-owned watch business.
Notably, niche high-end brands and independent watchmakers have shown remarkable growth, with their market share rising from 12% in 2023 to 21% by 2025. Watches from independent brands like Philippe Dufour and F.P.Journe have gained popularity among seasoned collectors due to their unique craftsmanship and limited production runs. For instance, Philippe Dufour’s "Simplicity" rose gold watch sold for over HK$6.22 million at Sotheby’s Hong Kong auction. Meanwhile, younger niche brands such as Hublot and Richard Mille have attracted a large number of young ultra-high-net-worth individuals with their personalized designs and technological appeal, emerging as new consumption hotspots.
In contrast, brands like Swatch Group, which cater to the mid-to-high-end market, are facing challenges. Their luxury brands such as Breguet and Blancpain, which rely heavily on wholesale channels and lack scarcity, have underperformed in the secondary market. Over the past year, Blancpain’s shares dropped by 14.3% and Breguet’s by 8%. Meanwhile, their core mid-range market has been hit by the rise of smartwatches, causing the group’s net profit to plummet by 88.6% in 2025.
3.1.2 Style Preference: Classic Designs Maintain Value, Personalized Features Stand Out
In style preferences, Asia’s ultra-high-net-worth individuals predominantly favor classic designs. Classic complex function watches (featuring perpetual calendars, tourbillons, and three questions) and sporty models dominate the market, collectively accounting for 75% of selections. Classic complex function watches make up 42% of the total, primarily for collection and long-term ownership, emphasizing craftsmanship and value retention. Sporty watches represent 33%, exemplified by Rolex Submariner and Audemars Piguet Royal Oak Offshore, which combine practicality with aesthetic appeal for everyday wear.
Meanwhile, the demand for personalized styles has surged, with custom and limited-edition watches accounting for 25% of the market, an 8-percentage-point increase from 2023. Young high-net-worth individuals increasingly favor custom watches featuring personal branding and unique designs. Some brands have introduced "private customization" services, allowing clients to tailor dials, straps, and gemstone inlays to their preferences, which has gained market traction. Additionally, watches made from new materials like carbon fiber are gaining popularity. According to the 2025 report by the Swiss Watch Industry Federation (FH), carbon fiber cases now account for 37.8% of the market. Hit products like the Tudor Biwa Chronograph "Carbon Fiber 25 Limited Edition" have won market recognition for their lightweight designs.
3.2 Consumer Behavior: Rational Reduction with Emphasis on Experience and Traceability
3.2.1 Consumption frequency: Decreased frequency, increased per-customer spending
Global economic fluctuations have led to a decline in watch consumption frequency among Asia’s ultra-high-net-worth individuals by 2025. The proportion of those purchasing 1-2 watches annually reached 65%, up 12 percentage points from 2023, while annual purchases of 3 or more watches dropped to 18%, a decrease of 8 percentage points. However, the average spending per customer rose significantly to $820,000, marking a 5.3% increase from 2023. Notably, the 35-year-old and younger demographic spent an average of $950,000 per watch, surpassing the overall average. This trend reflects younger consumers’ willingness to invest in premium-quality watches despite their lower purchase frequency.
A Hurun Research Institute survey shows that China’s high-net-worth individuals with assets exceeding 10 million yuan plan to reduce their wristwatch consumption by 123,000 yuan in the coming year. This contraction is mainly reflected in a decrease in consumption frequency rather than a weakening of individual spending power. Ultra-high-net-worth individuals tend to adopt a "less but better" consumption model, focusing on top-tier wristwatches with long-term value.
3.2.2 Distribution Channels: Offline as the primary channel, supplemented by online platforms, with second-hand channels gaining momentum
Offline channels remain the primary avenue for ultra-high-net-worth individuals (UHNIs) in Asia to purchase luxury watches, with brand flagship stores, high-end department store counters, and private tastings accounting for 78% of sales. UHNIs prioritize immersive shopping experiences, where physical stores offer professional services like expert evaluations, hands-on trials, and after-sales support. Events such as private tastings and high-end salons also fulfill their social needs. Brands like Rolex have enhanced their retail experience by streamlining store networks, upgrading in-store environments, and strategically locating new outlets in upscale commercial districts. They have introduced premium spaces like VIP lounges to elevate the overall shopping experience.
Online channels, accounting for 15% of total transactions, primarily serve information searches, style comparisons, and second-hand watch trading, with online auctions and brand official e-commerce platforms emerging as key consumption channels. Platforms like Dewu and Chrono24 have become the preferred choice for young collectors, while cross-border e-commerce enables independent watch brands to reach global audiences.
The second-hand channel continues to gain momentum, accounting for 7% of the market, an increase of 4 percentage points compared to 2023. With the standardization of the second-hand market, an increasing number of ultra-high-net-worth individuals are opting to purchase rare and limited-edition watches through second-hand channels, which not only reduces collection costs but also enables rapid asset turnover. Rolex has officially introduced its "Antique Watch Certification Program" to mainland China, with its first store located at Nanjing Deji Plaza, providing official assurance for second-hand watch transactions and further promoting the development of the second-hand market. Data from the Dewu App shows that the transaction volume of high-end second-hand watches in China has reached 8.5 billion yuan, with a year-on-year growth of 52%.
3.2.3 Purpose of consumption: Primarily for personal use, with collection and gifting as supplementary purposes
In 2025, the primary purpose of luxury watch consumption among Asia’s ultra-high-net-worth individuals remained personal use, accounting for 62% of purchases, with a focus on practicality and style expression. Collecting represented 28%, primarily targeting rare and classic timepieces to pursue long-term value appreciation. According to Chrono24’s annual report, technical watches with complete traceability information achieved a three-year value retention rate of 92-97%, significantly higher than the 85-90% for traditional models. The remaining 10% was dedicated to gifting, mainly for business presents and family heritage, where watches serve as premium gifts that symbolize status and hold commemorative value.
Notably, watches and premium liquor are no longer the top choices for men’s gifts, with electronics now taking the lead. This shift has led to a slight decline in wristwatch demand as gifts, though they still hold a prominent position in high-end business presents and family heirlooms.
3.3 Regional Differences: Core Markets Stable, Emerging Markets Dynamic
3.3.1 China market: Rational collection, digitalization and second-hand market lead growth
China (including Hong Kong and Taiwan regions), as a core market in Asia, saw its watch consumption and collection market reach $41.8 billion in 2025, a slight year-on-year decrease of 1.8%. Chinese ultra-high-net-worth individuals have become more rational in their watch consumption, focusing on brand reputation, craftsmanship value, and value retention. Patek Philippe, Rolex, and Vacheron Constantin remain the preferred brands. Meanwhile, the rising generation of collectors has shown increased acceptance of niche brands and independent watchmaking brands, with a noticeable growth in personalized and customized demands.
Digital empowerment has been significant, with services such as online tasting and virtual try-ons becoming widespread. The transaction volume of official online stores and online auction platforms increased by 18% year-on-year. The standardization of the second-hand market has accelerated, with official second-hand channels and third-party second-hand platforms developing in synergy. The transaction scale of second-hand watches grew by 6.2% year-on-year, becoming the core driving force of market growth. Additionally, China’s domestic brands have risen, with their market share reaching approximately 22% in 2025, a significant increase compared to previous years. Some brands have broken through complex function technologies by acquiring overseas watch movements, and their series of products incorporating traditional cultural elements have gained recognition from young consumers.
3.3.2 Southeast Asian Market: Significant Growth Rate and Unleashed Consumption Potential
In Southeast Asian markets including Singapore, Malaysia, and Thailand, the watch consumption and collection market is projected to reach $13.3 billion by 2025, representing a 3.5% year-on-year growth and ranking among Asia’s fastest-growing regions. With rising wealth concentration in the region, the growing number of ultra-high-net-worth individuals has fueled increasing demand for watches, particularly for classic and sports models. Brands like Rolex and Jaeger-LeCoultre continue to dominate this market.
Singapore, as a premier hub for high-end watch trading in Southeast Asia, has attracted a significant number of global ultra-high-net-worth individuals to collect and trade watches, thanks to its relaxed policy environment and robust financial system. The online auction and second-hand market are highly active. In markets like Thailand and Malaysia, the steady growth of watch consumption demand, driven by the maturation of high-end consumption scenarios, has positioned these regions as key potential markets for future expansion.
3.3.3 Japanese and Korean Markets: Mature and Stable, Emphasizing Craftsmanship and Culture
As mature markets in Asia, Japan and South Korea are projected to see a $19.6 billion watch consumption and collection market in 2025, marking a slight 0.7% year-on-year decline. High-net-worth individuals in these countries prioritize the craftsmanship and cultural significance of watches, favoring classic timepieces with sophisticated features and premium local brands. Brands like Jaeger-LeCoultre, Vacheron Constantin, and Seiko are particularly popular.
Japanese collectors prioritize the historical legacy and craftsmanship of watches, showing strong enthusiasm for antique timepieces with active second-hand transactions. In contrast, Korean collectors focus more on design and personalization, while the younger generation’s growing demand for niche brands and custom-made watches is driving market diversification.
3.3.4 Middle East Market: Premiumization in Focus, Luxury Designs Preferred
In Middle Eastern markets including the UAE and Saudi Arabia, the watch consumption and collection market is projected to reach $14.2 billion by 2025, representing a 2.1% year-on-year growth. Middle Eastern ultra-high-net-worth individuals favor luxury timepieces, particularly those featuring gemstone inlays and precious metals. Premium and bespoke watches from brands like Patek Philippe, Audemars Piguet, and Richard Mille dominate the market, with their average unit price ranking first in Asia at $1.2 million.
Meanwhile, the Middle East market is witnessing a growing trend in second-hand watch trading. As the market becomes more regulated, an increasing number of ultra-high-net-worth individuals in the region are purchasing rare watches through second-hand channels, thereby achieving asset appreciation and circulation.
IV. Core Trends of Asian Ultra-high Net Worth Individuals’ Watch Collection in 2025
4.1 Collection Logic: From "Brand Worship" to "Value Return"
In 2025, the logic of luxury watch collecting among Asia’s ultra-high-net-worth individuals underwent a significant shift. They moved beyond blindly chasing brand recognition to focus on the core values of watches—rarity, craftsmanship, historical and cultural significance, and value preservation and appreciation.’ Value reigns supreme’ has become the guiding principle for collectors.
Scarcity has become the primary consideration, with limited-edition, discontinued, and special-material watches emerging as collectible hotspots. These timepieces, due to their limited production, exhibit strong value preservation and appreciation capabilities. Limited-edition watches from brands like Patek Philippe and Audemars Piguet can achieve annual value preservation rates of 8%-15%. Audemars Piguet’s former CEO once stated that the brand produces no more than 1,450 models annually, with the most popular ones limited to 1,000 units. By maintaining strict production controls to preserve their scarcity, these high-demand models often command premium rates exceeding 80% in the secondary market.
The craftsmanship value of timepieces has gained significant recognition. Independent watchmaking brands and handcrafted wristwatches, renowned for their unique techniques and exquisite craftsmanship, are highly sought after by seasoned collectors. These timepieces are often produced in limited quantities, with each piece showcasing distinctive details that reflect the watchmakers’ dedication, thereby enhancing their collectible value. Additionally, wristwatches with complete traceability information are particularly favored. The application of blockchain technology has further improved the traceability and collectible value of these timepieces.
Historical and cultural value has become a new highlight in collecting. Antique watches and historically significant timepieces (such as anniversary editions of brands or those worn by celebrities) have seen their collection value continuously rise due to their承载的历史记忆与文化内涵. Markets such as Japan and Hong Kong, China continue to see growing enthusiasm for antique watch collecting. At Sotheby’s Hong Kong auction, a Patek Philippe Ref.1518 perpetual calendar timepiece from the 1970s was sold for HK$12 million, a 40% premium over its estimated price.
4.2 Collection Categories: Diversified Development with Rising Specialized Fields
4.2.1 Classic Complex-Function Wristwatches: The Core Collection Category with Outstanding Value Retention
Complex watch movements (perpetual calendar, tourbillon, three questions, chronograph) remain the cornerstone of luxury timepieces for Asia’s ultra-high-net-worth individuals, accounting for 58% of collections. These timepieces showcase exquisite craftsmanship and cutting-edge technology, representing the pinnacle of horological excellence. With limited production and exceptional value retention, Patek Philippe’s perpetual calendar collection and Jaeger-LeCoultre’s tourbillon series continue to dominate collector preferences. Patek Philippe has once again been crowned the most coveted brand for complex movements, followed by Jaeger-LeCoultre and Jaeger in second and third places respectively.
4.2.2 Antique Watch: Market Upheaval and Collecting Value
In 2025, Asia’s antique watch collection market maintained strong momentum, with transaction volume growing 7.3% year-on-year and accounting for 22% of the total market. These timepieces have drawn increasing attention from collectors due to their unique historical and cultural value and limited production runs. Particularly noteworthy are classic antique watches from the 1950s to 1980s, such as Rolex’s vintage Submariner and Jaeger-LeCoultre’s antique pocket watches, whose prices have been steadily rising. Some rare antique watches even see annual appreciation rates exceeding 20%.
The antique watch market has seen record-breaking auction prices, with annual specialized auctions by global auction houses like Sotheby’s and Christie’s attracting a large number of Asia’s ultra-high-net-worth individuals, maintaining a transaction rate above 85%.
4.2.3 Independent Watches and Niche Brand Watches: New Hotspot in Collectibles with Huge Potential
In 2025, independent watchmaking brands and niche high-end timepieces emerged as the hottest collectibles among Asia’s ultra-high-net-worth individuals, capturing 15% of the total market share—a 6-percentage-point increase from 2023. These brands have broken the monopoly of traditional luxury labels through their distinctive designs, exquisite craftsmanship, and limited production runs, winning the admiration of both seasoned collectors and younger enthusiasts.
Though these watches may lack brand recognition, they possess exceptional craftsmanship and significant collectible value. Watches from independent watchmaking brands can appreciate by 10%-18% annually, making them ‘high-potential stocks’ in the market. Meanwhile, the personalized designs of niche brands cater to young collectors’ individualized preferences, driving the diversification of the collectible market.
4.2.4 Special Materials and Customized Watches: Personalized Collections, Demonstrating Taste
Special materials (carbon fiber, ceramics, titanium, precious metals) and custom-made watches are seeing growing demand in the collectible market, accounting for 5% of the total market. Carbon fiber, prized for its lightweight and high-strength properties, is seeing widespread adoption. The cost of carbon fiber applications has dropped from $800 per kilogram in 2023 to $336 per kilogram—a 58% reduction—making what was once an $180,000 technical configuration now accessible for just $50,000. This has driven a 26.9% penetration rate of carbon fiber watches in the $50,000 price segment.
Customized watches, with their distinctive personal branding and bespoke designs, have become a key symbol of taste and status for high-net-worth individuals. Some brands offer ‘private customization’ services, allowing clients to tailor dials, straps, and gemstone inlays to their exact preferences—a trend that has gained market traction. These bespoke timepieces also command significantly higher collectible value than standard models.
4.3 Collection Behavior: Digital Empowerment, Professionalization, and Standardization Enhancement
4.3.1 Digital archiving emerges as a trend, blending online and offline approaches
In 2025, digital technologies will profoundly enhance watch collecting, with online appraisals, virtual try-ons, online auctions, and digital collectibles emerging as key acquisition methods. Brand-sponsored virtual appraisals and auction houses enable collectors to explore timepiece craftsmanship and collectible value from home. Meanwhile, online auction platforms have eliminated geographical barriers, allowing global collectors to participate in transactions with ease, with online auction sales growing by 16% year-on-year.
Meanwhile, blockchain technology is gaining traction in watch collecting, providing each timepiece with a unique digital identity to enable traceability, ownership verification, and anti-counterfeiting measures. This safeguards collectors ‘rights while enhancing the security and transparency of the collecting process. Rolex’s blockchain-based digital authentication system stands as a prime example of this trend.
4.3.2 Enhanced Professionalism in Collecting: Collectors Prioritize Knowledge Accumulation
As the watch collecting market expands, Asian ultra-high-net-worth individuals are becoming increasingly professional in their horology collection. Collectors are no longer collecting blindly but are focusing on building expertise in watch knowledge, delving into craftsmanship, history, brand culture, and value retention. Research indicates that 78% of collectors enhance their expertise through professional books, industry exhibitions, and exchanges with seasoned collectors, while 65% engage professional collectors’ advisors for collection guidance and authentication services.
Meanwhile, the proliferation of watch collection training programs and appraisal salons has fostered peer-to-peer exchanges and knowledge sharing among collectors, elevating the professional standards of the entire market. At Deji Plaza in Nanjing, watch shops now prioritize technical parameter explanations as their core service, replacing traditional brand storytelling—a clear indication of collectors’ growing demand for specialized expertise.
4.3.3 Enhanced Collection Standardization and Improved Order in the Second-hand Market
As Asian economies strengthen regulations on the watch market, the standardization of the second-hand market has accelerated, effectively curbing issues like counterfeit and smuggled watches while better protecting collectors’ rights. Meanwhile, the rise of third-party appraisal institutions has provided professional authentication services for watch collectors, enhancing security and promoting the healthy development of the second-hand watch market.
Brands like Rolex have launched official second-hand programs, offering brand authentication and warranty services for pre-owned watches. This has helped standardize the second-hand market and boosted collectors ‘confidence in pre-owned timepieces. Platforms such as Dewu also enforce rigorous authentication processes to ensure the authenticity of pre-owned watches, fueling the market’s sustained growth.
4.4 Collectors: Younger and Diversified, with the Rise of Female Collectors
4.4.1 The Rise of Young Tibetan Collectors and the Transformation of the Collecting Landscape
In 2025, Asia’s ultra-high-net-worth watch collectors are showing a clear trend toward younger demographics, with collectors aged 35 and under accounting for 34% of the total—up 9 percentage points from 2023. These young collectors, who grew up in the digital age, have developed more diverse and personalized consumption habits. They have moved beyond traditional brand worship, favoring niche brands, independent watchmakers, and timepieces with distinctive designs and compelling narratives. At the same time, they prioritize the fun and personal expression inherent in collecting.
Young collectors are adept at leveraging digital tools to access collection information and engage in transactions, with online auctions and virtual exchanges becoming their primary methods. They also place high demands on timepieces ‘value retention and appreciation, driving the market shift from’ traditional classics ‘to’ diverse and personalized’ styles. A sales manager at Nanjing Xinjiekou Tudor Watch Store noted that 80% of young customers now inquire about technical specifications upon entering the store, with some even bringing programmers to compare three watches with detailed parameter lists—a scenario unimaginable just three years ago.
4.4.2 The Rise of Female Collectors and Diversified Demands
Women collectors are steadily rising as a major segment in Asia’s ultra-high-net-worth watch community, with their share hitting 32% by 2025 – a 7-percentage-point jump from 2023. These discerning buyers prioritize timepieces that combine design sophistication, refined elegance, and practical functionality, particularly favoring compact yet sophisticated timepieces. Their preference for gemstone-encrusted and precious-metal watches is evident, with women’s exclusive collections from brands like Jaeger-LeCoultre, Blancpain, and Vacheron Constantin being especially popular among female collectors.
Meanwhile, female collectors are diversifying their horizons, moving beyond women-only watches to include classic complex function timepieces and antique timepieces, emerging as a significant force in the watch collecting market. According to FH data, women’s share in the professional watch sector rose from 12% in 2022 to 34.9% by April 2025. Their preference for timepieces that combine technical performance with design appeal has driven brands like Hublot and Blancpain to launch exclusive carbon fiber collections for women.
V. Challenges and Opportunities in Watch Consumption and Collection for Asia’s Ultra-high Net Worth Individuals in 2025
5.1.1 Global Economic Uncertainty and Fluctuations in Consumption and Collecting Intentions
In 2025, the global economy slowed down with persistent inflationary pressures and ongoing geopolitical tensions, leading to a deceleration in wealth growth among Asia’s ultra-high-net-worth individuals and fluctuations in their consumption and collecting preferences. Some collectors adopted a wait-and-see approach, reducing investments in wristwatch collections, particularly in the mid-to-low-end luxury watch market, which was hit hard. Meanwhile, global economic volatility introduced uncertainty into the value preservation and appreciation potential of watches, causing prices of non-scarce models to decline and dampening collectors’ confidence.
The "2025 China Personal Luxury Report" released by Bain & Company pointed out that the personal luxury market in mainland China shrank by 3% to 5% in 2025, reflecting the cautious sentiment in the overall high-end consumer market, and watches as a core category were also affected to some extent.
5.1.2 The chaos of fake and smuggled watches persists, and market order requires further regulation
Despite strengthened regulations in Asian economies, counterfeit and smuggled watches persist in the market, particularly in the second-hand sector where circulation remains rampant. This not only infringes collectors ‘rights but also undermines market integrity. Furthermore, the inconsistent credentials of third-party authentication agencies and lack of standardized evaluation criteria pose additional risks to collectors’ investments.
5.1.3 Smart Wearables Challenge Mid-Range Watch Market
With the rapid development of smart wearable devices, brands such as Huawei and Apple have diverted some mid-range watch consumers with their practicality, technological appeal, and high cost-performance ratio, impacting the mid-range luxury watch market. According to a report by market research firm Counterpoint, global smartwatch shipments reached 34.4 million units in the second quarter of 2025, with Huawei’s product shipments growing by 53% year-on-year to 7.2 million units, capturing a 21% market share and surpassing Apple for the first time to claim the global top spot.
While smart wearables have limited impact on ultra-high-net-worth individuals’ luxury watch consumption and collections, they have nevertheless caused a contraction in mid-range watch market demand. This has pressured some brands to face declining performance, with Swatch Group suffering a sharp decline in its core mid-range market and high-end brand expansion being hindered, resulting in a 88.6% plunge in net profit in 2025.
5.1.4 Severe brand homogenization and insufficient innovation capability
Some traditional luxury watch brands lack innovation in product design and craftsmanship, resulting in severe homogenization that fails to meet the personalized demands of young collectors. Meanwhile, certain brands prioritize mass production and profit margins over craftsmanship quality and rarity, leading to diminished value retention and appreciation of their watches, which discourages collectors’ interest. High-end brands like Breguet and Blancpain under Swatch Group have underperformed in the secondary market due to their lack of uniqueness and scarcity.
5.2.1 Asia’s wealth concentration rises as market demand keeps expanding
Despite global economic uncertainties, the concentration of wealth in the Asian region continues to rise, with the number of ultra-high-net-worth individuals steadily increasing, providing solid demand support for the watch consumption and collection market. According to Pridebay research, the number of ultra-high-net-worth individuals in Asia is expected to grow by 4.2% year-on-year in 2025, with significant growth rates in China, India, and Southeast Asia. These newly added ultra-high-net-worth individuals will further unleash the demand for watch consumption and collection, driving the market’s sustained development.
5.2.2 Digital Empowerment: Driving Market Upgrades
The integration of digital technologies like blockchain, AI, and virtual reality has created fresh opportunities for the watch consumption and collecting market. Blockchain technology enables watch traceability, ownership verification, and anti-counterfeiting measures, significantly enhancing market transparency and security. Digital services such as online appraisals, virtual try-ons, and online auctions have broken geographical barriers, expanding market reach. The fusion of digital collectibles with watches has also revitalized the collecting market, attracting more young collectors.
5.2.3 Standardization of the second-hand market emerges as a new growth engine
As Asian economies strengthen regulations on the second-hand market, the standardization process has accelerated, effectively curbing issues like counterfeit and smuggled watches while better protecting collectors’ rights. Meanwhile, the synergy between official second-hand channels and third-party platforms has created convenient trading channels for collectors, driving sustained growth in the second-hand watch market and emerging as a new growth engine for watch consumption and collection.
Brands such as Rolex have introduced official second-hand businesses, further enhancing the credibility of the second-hand market, attracting more collectors to participate in second-hand watch transactions, and promoting the transition of the second-hand market from a "gray area" to "standardization and specialization." Data from the Dewu App shows that the transaction volume of high-end second-hand watches in China has reached 8.5 billion yuan, with a year-on-year increase of as high as 52%, demonstrating tremendous market potential.
5.2.4 The Rise of Young Tibetan Collectors, Driving Market Diversification
The rise of young collectors has revitalized the watch consumption and collection market. Their personalized and diversified demands are driving the market’s shift from’ traditional classics ‘to’ diverse individuality. ‘Niche brands, independent watchmakers, and custom watches are seizing development opportunities. Meanwhile, young collectors’ adept use of digital tools is fostering online transactions and exchanges, further diversifying market formats.
5.2.5 Regional market potential unleashed, emerging markets emerging as new growth drivers
Emerging markets including India, Southeast Asia, and the Middle East are witnessing a steady rise in ultra-high-net-worth individuals, with growing demand for wristwatch consumption and collection emerging as a new growth driver in Asia’s watch market. These markets’ consumer base exhibits dual preferences—while maintaining demand for traditional luxury brands, they also show interest in personalized and localized alternatives, creating fresh opportunities for watch brands.
Singapore, as a premier hub for high-end watch trading in Southeast Asia, has attracted a significant number of global ultra-high-net-worth individuals to collect and trade watches, thanks to its favorable policy environment and robust financial system. Meanwhile, the Middle East market has become a key destination for luxury watch brands, driven by strong demand for premium timepieces. In India, the growing wealth of its population has spurred a rising demand for watches, revealing tremendous potential for market expansion.
In 2026, Asia’s ultra-high-net-worth individuals’ watch consumption and collection market is expected to exhibit a trend of ‘steady growth, diversified differentiation, and value prominence,’ with a projected market size of $92 billion, representing a 3.4% year-on-year increase. Notably, the second-hand market will continue to outpace the new watch market in growth rate, emerging as the primary driver of market expansion.
From the consumer perspective, rational consumption will remain dominant. High-net-worth individuals will continue prioritizing high-quality, high-value watches, driving further increases in average spending per customer. Niche brands and independent watchmakers will see expanding market shares, while young collectors and female collectors will gain greater influence, fueling growing demand for personalized and bespoke watches. Online and offline channels will deepen integration, with digital services emerging as the core battleground for brand competition. Swatch Group anticipates sales and sales volume growth in 2026, with the positive momentum from the second half of 2025 and accelerated growth in the fourth quarter extending to all price segments by January 2026.
From a collector’s perspective, value reversion will emerge as the dominant trend. Collectors will continue to prioritize rarity, craftsmanship, and historical-cultural significance, with growing demand for antique timepieces, independent watch brands, and watches crafted from special materials. Digital collecting will gain wider adoption, blockchain technology will see expanded applications, and the professionalization and standardization of collecting will advance. The second-hand market is poised for sustained growth, with official resale channels and third-party platforms becoming more sophisticated, leading to a more regulated market environment.
From a regional perspective, the China market will continue to maintain its core position in Asia, with digitalization and the second-hand market becoming growth highlights; emerging markets such as Southeast Asia, India, and the Middle East will continue to gain momentum, with growth rates exceeding the Asian average; the Japanese and Korean markets will remain stable, with antique watches and local brands becoming market features.
Wristwatch brands should align with market trends by enhancing product innovation, emphasizing craftsmanship and rarity to cater to the personalized demands of young and female collectors. They should also strengthen digital strategies, optimize integrated online-offline distribution channels, and expand into the second-hand market to boost brand competitiveness. For collectors, maintaining a rational approach is crucial—focusing on the core value of watches, improving professional expertise, leveraging digital tools and specialized institutions to mitigate risks, and ultimately maximizing collection value.
In 2025, Asia’s ultra-high-net-worth individuals’ watch consumption and collection market exhibited distinct characteristics of "rational contraction, value focus, and diversified differentiation" amid global economic fluctuations, evolving consumption trends, and technological innovations. The market maintained steady growth with adjustments, where the secondary market became the core driver. Top-tier brands retained dominance while niche and independent watchmaking brands gained rapid momentum. The rise of young collectors and female collectors reshaped the market landscape, while digital empowerment and market standardization propelled the industry toward high-quality development.
Despite challenges including global economic uncertainties, counterfeit watch market chaos, and competition from smart wearables, Asia’s rising wealth concentration, growing demand from young collectors, and emerging market potential will drive sustained market growth. By 2026, as market regulations become more standardized, digital technologies are deeply integrated, and consumer demand continues to expand, the watch consumption and collection market for Asia’s ultra-high-net-worth individuals will witness new opportunities, achieving steady growth and diversified prosperity.
Pridebay will continue to track lifestyle trends among Asia’s ultra-high-net-worth individuals, conducting in-depth research on the dynamics of the watch consumption and collection market. By providing the industry with more professional and comprehensive research insights, it aims to help brands, collectors, and industry professionals identify market trends and achieve mutual success.
