The 2024 Bezel Report analyzes data from $700M worth of listings, highlighting market trends, seller growth, and stringent authentication standards.
Today, Bezel releases its 2024 Watch Market Insights report––digging into data from our $700M worth of listings from the most sought-after watches and brands on the market––to give industry professionals and enthusiasts a look into how consumers and sellers are interacting on the secondary market.
Read below for the full breakdown, but here are the highlights:
New in this year’s report is more on Bezel’s new features to improve the buying experience––like Bezel Auctions––and to onboard professional sellers to an all-time high.
And as always, Bezel’s industry-leading standard on authentication protected buyers from more inauthentic watches than ever before. Here’s how.
When it comes to buying watches on the secondary market, one thing is certain: authenticity is everything. While collectors might assume that a reputable marketplace ensures every watch listed is genuine, the reality behind the scenes is far more complex. Bezel’s authentication process doesn’t just catch outright fakes—it uncovers subtle, deliberate modifications that even seasoned enthusiasts might miss.
This is why in 2024, Bezel rejected 29% of listings attempted to be sold on the platform (24% in H1, 33% in H2), and we’ll continue to keep our standard for authenticity as the highest in the market.
Rolex’s Daytona Reference 116515LN-0041 is an unmistakable piece. Its Everose gold case, chocolate sunburst dial, and ceramic bezel, paired with the modern Oysterflex bracelet, make it a favorite among collectors. But what happens when a watch that looks the part turns out to be something else entirely?
The example that landed at Bezel’s authentication center seemed, at first glance, to be a proper 116515LN-0041. However, upon closer inspection, the story began to unravel. The authentication team found that this Daytona wasn’t produced initially with an Oysterflex bracelet but had been modified from a different Everose gold Daytona reference intended for a leather strap. The difference lies in the case and end link design: leather strap-fitted Daytonas use differently shaped end links that are incompatible with the Oysterflex bracelet. Simply put, the watch could never have left Rolex’s factory in this configuration.
Further inspection revealed that the spring bars—normally crafted in matching Everose gold—had been swapped for aftermarket, gold-plated stainless steel replacements. While this might seem like a minor alteration, it signals a lack of originality and compromises the structural integrity of the bracelet attachment.
The modifications were clearly intended to increase the watch’s appeal on the secondary market. But as Ryan Chong, Bezel’s Chief Marketplace Officer explains, “This isn’t just about authenticity—it’s about ensuring the integrity of every piece we sell. Watches like this don’t meet our standards and we never want a collector to find out issues about their watch from someone else down the road that we should have identified.
Counterfeits are becoming more convincing, and the recent discovery of inauthentic TAG Heuer Aquaracers powered by Caliber 7 and Caliber 5 movements proves just how sophisticated these fakes have become. Unlike typical clone movements, which attempt to mimic genuine calibers, these counterfeits used actual Swiss ebauche movements—the very same Sellita SW-200 base movements that TAG Heuer modifies in the production of their authentic calibers. On the surface, these watches were nearly indistinguishable from the real thing, featuring externally accurate case finishing, dial detailing, and luminous applications.
But Bezel’s authentication team looks beyond the surface. Close inspection of the movements revealed the truth—while the base movement was correct, the engravings, finishing, serial numbering, and movement graining failed to meet TAG Heuer’s quality standards.
This discovery is particularly alarming because it marks a new era of counterfeiting, where fakes are not just relying on cheap imitations but incorporating real Swiss-made components to deceive buyers. As counterfeiters refine their methods, Bezel’s authentication process ensures that even the most convincing fakes don’t slip through—because when it comes to trust in the secondary market, details matter.
The Rolex GMT-Master II Reference 116718LN-0002, introduced in celebration of the model's 40th anniversary, is one of the brand’s most recognizable modern pieces. Its green dial and solid gold construction make it a highly sought-after reference, often trading for a premium compared to its black-dial sibling, the 116718LN-0001. That $5,000 difference was enough motivation for one seller to try to pass off a Ref. 116718LN-0001 as its more valuable counterpart.
Bezel’s authenticators quickly spotted signs that the original black dial had been previously removed and replaced with the present green dial, which was confirmed upon closer inspection—an attempt to elevate its market value at the expense of its originality.
The team didn’t stop there. Using a black light, they tested the luminous material on the dial and hands. The dial emitted the expected green glow of Super-LumiNova, the standard for Rolex at the time. However, the hands glowed light blue—a clear indicator of Chromalight, which Rolex only introduced around 2008. The mismatched luminous materials confirmed that the hands had been replaced with a set inappropriate for the watch’s production period.
“These kinds of details might seem small, but they make a world of difference,” Chong notes. “Collectors rely on us to catch not only the obvious but also the nuanced issues that affect a watch’s originality and value. That’s what we’re here for.”
Recently, Bezel’s authentication team encountered a Rolex Datejust that seemed entirely authentic at first glance. The two-tone case, fluted bezel, case engravings, and Jubilee bracelet all checked out. Even under a loupe, the dial and hands exhibited the craftsmanship expected of a factory-original piece. But beneath the case back, the watch told a different story.
Where a genuine Caliber 3235 movement should have been, the team found a meticulously modified clone movement—an expertly reworked base caliber designed to mimic the structure and appearance of Rolex’s own engineering.
At a casual glance, the movement could pass for the real thing. But Bezel’s authenticators spotted discrepancies that would escape even many trained eyes. The rotor holding screw, for instance, exhibited crude finishing—far from the meticulous polishing and sandblasting found in Rolex’s own components. The serial engravings, which Rolex executes with robotic precision, were misaligned. Then there was the balance wheel, a dead giveaway: Rolex’s 3235 movement features adjustable timing weights, which were conspicuously absent in this clone.
The most critical revelation came upon closer inspection of the escapement. Instead of the patented Rolex Chronergy escapement, a groundbreaking innovation that enhances efficiency and reliability, the movement featured a generic Swiss lever escapement—a functional but outdated system that falls well short of the real thing.
For many, the discovery of a cloned movement inside an otherwise genuine Rolex would be shocking. However, as counterfeiters grow more sophisticated, high-quality fakes are no longer limited to external components. Advanced "super clone" movements are becoming increasingly common, and without proper authentication, even experienced collectors could fall victim to these precision-built forgeries.
“This is exactly why we go beyond surface-level authentication,” explains Chong. “A watch might look perfect externally, but that’s only one part of the equation that we have to solve for each watch we sell.”
Bezel has always set out to build the most trusted platform for collectors. This is why in January 2024 we launched Bezel Auctions. Now, a year later, we’ve seen 200+ drops of 2,400+ watches, including high-profile pieces like the Patek Philippe Cubitus.
And while the core of everything we do will always be the consumer, we’ve also invested in a better seller experience. From Bezel-powered websites to let their customers more easily browse their inventory online to leveraging our team of watch experts to handle inbound, routine questions about their listings on the Bezel app, we’re giving sellers a more streamlined, efficient way to connect with collectors.
This is why we scaled our sellers to an all-time high. Registrations grew more than 61% YoY, the number of sellers who sold at least one watch increased by 137% YoY, and each active seller sold an average of $95,226. In 2025, we’ll release even more features that will give sellers more ways to interact with customers.
Bezel’s “Want” feature isn’t just a wishlist—it’s a real-time reflection of collector demand, providing deep insight into what buyers are actively tracking on the secondary market. Whether a watch is sought after today or is being monitored for a future purchase, this engagement demonstrates intent, offering sellers an unparalleled window into shifting preferences and real-time market trends. Understanding what buyers want means sellers can better anticipate demand, optimize their inventory, and confidently price their watches in line with collector interest.
At its core, the data behind Bezel’s most-wanted watches offers sellers the same advantage that seasoned collectors rely on: knowledge. It’s not just about what’s selling now—it’s about what’s about to sell. By leveraging Bezel’s insights, sellers can align their offerings with collector demand, ensuring they’re not just listing watches but listing the right watches. Let’s take a closer look at the data shaping the secondary market.
No surprise here: Rolex reigns supreme, capturing 38% of all watches saved to Bezel’s “Want” lists. The enduring desirability of models like the Submariner, GMT-Master II, and Daytona cements the brand’s status as the secondary market’s most in-demand marque. With Omega (11%) trailing in second—bolstered by the enduring appeal of the Speedmaster and Seamaster—followed by Cartier (7%), Audemars Piguet (6%), and Patek Philippe (5%), the data underscores the importance of heritage, scarcity, and iconic design in collector decision-making.
For sellers, this insight is invaluable. Not only does it reaffirm Rolex’s dominance, but it also highlights a growing interest in Tudor (6%), Breitling (4%), and Grand Seiko (2%), brands that continue to gain traction among collectors looking for value, innovation, and design diversity. The data suggests that sellers who expand their offerings beyond Rolex and Patek Philippe may find increasing opportunities in brands that punch above their weight class in terms of collector demand.
When it comes to collector interest, modern watches are king. Bezel’s data reveals that a staggering 75% of wanted watches hail from the 2010s (41%) and 2020s (34%), emphasizing the overwhelming demand for contemporary timepieces on the platform. This trend reflects evolving collector habits—buyers today aren’t just chasing vintage grails; they’re also actively engaging with modern releases, appreciating advances in materials, movements, and finishing.
For sellers, this trend suggests a key takeaway: modern inventory moves. While the allure of vintage watches remains strong—especially for collectors drawn to birth-year pieces or historically significant references—the reality is that today’s buyers are gravitating toward watches that offer contemporary reliability, improved wearability, and modern proportions. Sellers who stock well-maintained recent releases, especially those discontinued in the past decade, are best positioned to capture buyer interest.
For Bezel users, black (33%) and blue (16%) dials dominated collector interest in 2024. Their versatility, legibility, and classic appeal make them mainstays across brands and models. Silver (15%) and white (10%) dials follow closely behind, reflecting a preference for clean, timeless aesthetics found in dress watches and sports models alike.
For sellers, this data can serve as a crucial pricing and marketing tool. If two references are otherwise equal, dial color can be the tiebreaker in determining desirability. Watches with green dials (6%)—once niche—are now capturing meaningful attention, reflecting the broader industry trend toward colorful and unconventional aesthetics. Sellers with unique dial configurations should leverage this growing demand by emphasizing rarity and visual appeal in their listings
When it comes to case size, 40mm remains the undisputed standard in modern collecting, capturing 24% of all watches saved on Bezel. This aligns with the industry’s most iconic references—think Rolex Submariner, GMT-Master II, and Daytona—reinforcing the idea that this size offers the perfect balance between versatility, comfort, and presence on the wrist. Not far behind, 41mm cases account for 22% of wants, signaling strong demand for contemporary proportions found in watches from the current Rolex and Audemars Piguet catalog.
This data provides clear guidance on inventory selection for sellers. The market gravitates toward 40-41mm cases, making them the safest bet when sourcing high-demand pieces. That said, interest in 42mm watches (15%) and larger (>42mm at 10%) remains significant, particularly among collectors drawn to modern Omega Speedmasters, Panerai Luminors, and Audemars Piguet Offshore models. Contrarily, sellers would be advised to note the increasing demand for 36mm watches (10%) and <36mm watches (8%), reflecting a growing appreciation for refined proportions, as well as a more diversified range of watch buyers. Understanding these preferences allows sellers to prioritize stock that aligns with where the market is most active.
When it comes to case materials, stainless steel remains the undisputed leader, comprising 59% of all wants on Bezel. It’s no secret that steel sports watches—Rolex Submariners, Patek Philippe Nautiluses, Audemars Piguet Royal Oaks—have been the backbone of collector demand for years, and this data only reinforces the strength of that trend. That said, two-tone watches are seeing an upswing, representing 10% of user wants, a notable statistic in a category that was once considered less desirable by purists.
For sellers, the takeaway is clear: if it’s steel, it sells—but the secondary market is evolving. The rise in demand for rose gold (7%), and yellow gold (6%) pieces suggests that collectors increasingly embrace precious metals, especially as steel models remain scarce and premiums for sought-after references continue to climb. Sellers looking to expand their offerings should take note of this shift, as gold models—once overshadowed by their steel counterparts—are now being reconsidered by a new wave of collectors.
This year, Rolex remained king, representing 36% of all orders on Bezel. Omega followed at 14%, fueled by the enduring popularity of the Speedmaster and Seamaster lines, while Tudor continues its impressive rise with 12% of orders, proving that collectors are increasingly drawn to its value-driven offerings. Beyond these top-tier names, Cartier (5%), Breitling (5%), and TAG Heuer (4%) round out the mainstream market, reflecting strong demand for well-known luxury watches with broad appeal.
But what about the rest? The numbers tell an important story: while major brands dominate, 15% of all orders come from outside the usual suspects, reinforcing the idea that rarity and uniqueness remain potent drivers in the secondary market. Brands like Grand Seiko, Panerai, Patek Philippe, and Audemars Piguet each account for 2-3% of total orders, proving that collectors actively seek distinctive pieces that stand out. For sellers, this presents a clear strategy—if you aren’t competing on pricing and presentation for modern mainstream models, carving out a niche in unique, under-the-radar watches can be just as lucrative. The market isn’t just about what’s popular—it’s about what’s different.
The data aligns with today’s most sought-after models. Orders for 41mm (21%) and 40mm (18%) watches dominated, reflecting the enduring appeal of icons like the Rolex Submariner, Omega Seamaster, and Audemars Piguet Royal Oak. Larger cases also hold strong, with 42mm (17%) and >42mm (14%) pieces maintaining significant demand. This is primarily driven by brands like Panerai, IWC, and Breitling, which cater to enthusiasts favoring bold wrist presence.
But a shift is underway: orders for watches under 36mm surged to 10%, a substantial increase since our last report. This signals a growing appreciation for smaller, vintage-inspired proportions and a rising number of women collecting watches. The resurgence of 36mm models—seen in pieces like the Rolex Explorer, Cartier Tank, and Patek Philippe Calatrava—suggests that sellers who embrace this evolving trend will find a rapidly expanding audience eager for more refined case sizes.
Despite the uncertainty in the secondary market, Bezel has remained focused on trust, transparency, and offering a platform where both collectors and sellers feel confident. By prioritizing education, expert curation, and a commitment to authenticity, Bezel has remained consistent in setting a new benchmark for quality for pre-owned watches.
Moving forward, Bezel will introduce new ways for watch collectors and sellers to interact. This includes sending offers on a watch to one another through the Bezel app. We’ve also heard from professional sellers that they want additional ways to connect their peers, as well as non-professional watch enthusiasts who want to list their inventory on the Bezel platform.
These changes reflect our efforts to not only create a platform that’s raising the standards for how watches are bought and sold on the secondary market, but also one that fosters an interactive community.
Bezel is the top-rated marketplace for buying and selling luxury watches. We give you access to tens of thousands of the most collectible watches from the world's top professional sellers and private collectors. Every watch sold goes through our industry-leading in-house authentication process, so you can buy, sell, and bid with confidence.
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