Patek Philippe’s watches are making a massive impact on the secondary market.

Ultra-luxe timepieces from the Swiss maker are a large driver of growth in the pre-owned watch sector, according to the Bloomberg Subdial Watch Index, which tracks the top 50 watches trading hands by their transaction value.

Specifically, watches made from precious metals are gaining traction: A white-gold Nautilus Perpetual Calendar just jumped up a whopping 26 spots on the list, and a rose-gold Travel Time Chronograph has appeared back on the ranking as of late. In total, Patek watches hold seven spots on the index.

The rest of the list, as you may expect, belongs to Rolex, which makes complete sense: The Crown has seen its pre-own prices soar by a whopping 550 percent over the last 15 years, and demand doesn’t seem to be slowing down anytime soon. Since the start of 2025 alone, secondary prices of Rollies increased by 10 percent, according to watch trading platform Subdial, while pre-owned Patek prices grew by 18 percent over the same period. So, though Rolex still has a tight hold on the secondary market, the recent data shows that Patek has upended the status quo and become a stronger presence in the sector, according to Bloomberg.

In general, things are looking up on the secondary watch market. After many consecutive quarters (a baker’s dozen, to be exact), prices of pre-owned timepieces began to grow in Q3 of 2025—an increase that continued into the fourth quarter, according to WatchCharts’s report from February. That study, too, found that Patek (with a 12 percent increase in prices) and Rolex (4.6 percent), as well as Audemars Piguet, were essentially responsible for all the sector’s growth over the period. Overall, the report signaled that we are heading into a new era in the market.

That new epoch, of course, isn’t without its problems. Plaguing the pre-owned market as of late are soaring gold prices, which are putting vintage watches at risk. As a result, some collectors are seeing owners melt down their rare models, as the watches’ melt value are greater than what owners would get for the timepiece if they sold it on the secondary marketplace. “We’re seeing more people liquidate gold watches purely for their metal value, particularly with certain brands and older pieces,” Eugene Tutunikov, CEO of SwissWatchExpo, told Robb Report. “In some cases, watches are being treated like scrap gold rather than collectible timepieces, which is unfortunate—but it’s also quietly reducing the supply of vintage gold watches that survive in good condition.”