For those in the industry, when asked to name the brand of watch they would most like to wear on their wrist, most will name Rolex. But the scale of Rolex’s appeal should be deeply troubling to other brands and the broader industry because when 55% of people want a replica Rolex, there are hundreds of other watchmakers vying for the other 45%. Demand is also affecting sales. The Swiss watch group now says that 80% of its sales come from 10 brands. This belies the fact that the business was sharing until last year that more than half of its sales came from Rolex.
Rolex dominated the responses, not only as a brand, with 55% naming it as their dream watch brand, but also as the most popular watch, with its Daytona chronographs, particularly the Ref. 116506, the 50th anniversary Daytona model made in platinum.
The platinum Oyster Perpetual Cosmos proved to be the most popular of all Daytona models, and it became an instant collector’s item when it was introduced in 2013. Since then, demand for the watch has consistently outstripped supply, and the watch is currently nearly impossible to buy new.
“And that’s really what buying a pre-owned watch is all about; providing watch buyers with unprecedented access to pieces that are hard to come by – whether it’s a vintage or limited edition, a discontinued classic or, of course, a current bestseller that’s unavailable new due to insurmountably long waiting lists. The length and breadth of choice in luxury watches has never been greater, and each year more and more watch enthusiasts are realizing that a trusted pre-owned specialist is the best way to get more of this inventory.”
Twice as many people see their dream replica watch for the first time on the wrist of someone they know, as opposed to seeing it on the wrist of a celebrity or influencer. 24% find their dream watch for the first time in a brick-and-mortar store, 20% see it in an editorial, and 16% find it while shopping online.
The emotional impact of wearing their dream fake watch is huge, with 93.8% of respondents saying that wearing their dream copy watch positively impacts their confidence. One-third said that wearing their dream watch would make them feel successful, wealthy, and accomplished, and almost one-third said that wearing their dream watch would make them feel more poised, sophisticated, or elegant.