ALT/FNDATA · Market Report
Q4 2025 Report: The Secondary Market for Luxury Watches
Auction-realized prices and the public-market backdrop
A leaner, top-heavy quarter carried by the Geneva sales: fewer lots cleared but the high end held, even as a US tariff that had halved Swiss exports to America was cut from 39% to 15% in November and shipments rebounded by December.
The headline
The correction in three numbers
$151.9M
Q4 2025 auction value
Across 3,556 sold lots; −23% gross and −11% like-for-like vs 2024
$10.8M
Top lot at Phillips Geneva
The December Geneva sales set the quarter; +29% on the 2024 top
87%
Phillips' share of value
$132.8M of $151.9M, concentrated in the Geneva auctions
Auction-realized prices: what watches actually sold for at the hammer, not asking prices. · 15M+ auction results · 850+ houses.
The read
What the data shows
ALT/FNDATA Q4 2025 luxury watch report: a leaner, top-heavy quarter. $151.9M cleared across 3,556 lots (−23% gross, −11% like-for-like); the Geneva sales carried the value, with Phillips clearing roughly 87% and a top lot at $10.8M. The US tariff on Swiss goods was cut 39% to 15% in November and exports rebounded. Free headline data; full report by email.
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The headline data above is free to cite. The full report is part of ALT/FNDATA Membership, which includes every quarterly market report and the Visual Analytics Hub. Inside this report:
- The full month-by-month auction breakdown (October to December)
- The macro backdrop: Swiss exports, the 39% to 15% tariff cut, gold and the equities
- The Geneva sales and the blue-chip ceiling
- Methodology and how to cite the data
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Source: ALT/FNDATA, “Q4 2025 Report: The Secondary Market for Luxury Watches” (June 2026). Based on auction-realized prices for wristwatches and pocket watches cleared at the auction houses ALT/FNDATA tracks, with public-market context from Q4 2025 Swiss watch exports and watch-house equity performance. © 2026 ALT/FNDATA · altfndata.com/reports/luxury-watch-market-report-q4-2025