Why pre-loved watches are having a moment in the UAE

Khaleej Times

2 days ago

There are few places in the world where luxury feels as immersive, as theatrical, or as deeply woven into the country's cultural fabric as it does in the UAE. From the serene intimacy of private client lounges to the grandeur of multi-level flagship boutiques, the country has long positioned itself as a global capital of luxury retail. For discerning buyers, the act of luxury acquisition here isn't merely transactional — it's more of an experiential ritual.
For many, the allure of the brand new — wrapped in extravagance, sealed with status, and unboxed with ceremony — still holds undeniable charm. But increasingly, a different kind of luxury is capturing the attention of the nation's most sophisticated clientele: one that values provenance over packaging, character over catalogue, a luxury defined not by newness, but by heritage and narrative.
Pre-loved luxury, once the domain of niche aficionados, has stepped beyond the shadows of connoisseurship. And nowhere is this shift more evident or exciting than in the world of pre-owned high-end watches, where the UAE is fast becoming one of the most influential markets in the world. This growing reverence for pre-owned timepieces is now translating into a multi-million-dollar market. A recent report by Grand View Research predicts the UAE's pre-owned luxury watch segment will be worth $816.7 million (Dh2.9 billion) by 2030, with an anticipated compound annual growth rate of 6.9 per cent.
But this is more than just financial momentum — it's a cultural shift. The surge is not being driven by speculative flippers, but by a new wave of collectors: informed, intentional, and emotionally invested.
For collectors like Zain Al Zainal, an Iraqi expat born and raised in the UAE, it's the lived-in charm that drew him to the world of pre-owned watches. 'They offer character and value that brand-new watches often lack,' he says. What began as a purely aesthetic pursuit, particularly of interesting dials, evolved into a deeper fascination with horological heritage. 'Pre-owned watches often carry a story with them, and that's something you simply can't buy new,' he explains.
Italian collector Tiziano Corti echoes that sentiment, saying pre-owned luxury watches have 'a certain unicity' that can't be replicated. 'It's something not tangible or concrete, but you can feel it: it's the history of a certain piece that makes it unique, it's like it has its own life, and when you acquire it, you acquire its history with it. You become part of the history of that certain piece,' says Tiziano, who entered the pre-owned luxury watch market as that was the only way to find pieces that were already discontinued.
For Emirati watch aficionado Rashid Al Raqbani, it's the artistry and individuality of earlier eras that remain unmatched. 'I believe a great deal of the finest watch references, artistry, and true craftsmanship were done previously,' he says, reflecting on what first drew him to the pre-owned space. 'Over time, my interest in watches has shifted away from fashionable 'it' watches and more toward pieces with unique dials and design — watches you don't see much in the market anymore.' For Al Raqbani, part of the thrill lies in the hunt. 'The excitement for me is in finding that one watch that ticks all the boxes in standing out from everything else out there.'
Dubai's Place on the Global Stage
'Dubai has established itself as a global hub for collectible watches,' says Nitin Nair, associate director and watch specialist at Christie's Dubai. 'Buyers are increasingly seeing the benefits of buying from the secondary market,' he adds. The UAE's influx of wealth post-COVID helped fuel a surge in interest, but the deeper driver, he notes, is growing awareness and appetite for significance over speculation. That shift is perhaps best reflected in Christie's 'Dubai Edit' auctions, which have placed the city firmly on the global horological map. In 2021, Christie's sold a Patek Philippe Sky Moon Tourbillon for $1.59 million (Dh5.8 million) — the first million-dollar watch sold online in the region. 'Rarity, condition, and provenance are key factors that decide the value of a watch in the secondary market. Luxury steel sports watches like the Patek Philippe Nautilus, Audemars Piguet Royal Oak, and the Rolex Daytona have historically done well, so have platinum-cased watches from these brands,' Nitin adds.
Buyers are also increasingly drawn to watches with regional provenance — pieces with a story rooted in the Gulf. A Rolex GMT-Master Ref. 1675 commissioned by Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, sold for over $113,000 (Dh415,050) in 2024, while Khanjar-signed dials created for the late Sultan Qaboos Bin Said of Oman regularly command six-figure bids. 'A vintage Rolex Daytona Ref. 6265 commissioned by the UAE Ministry of Defence can sell for over $300,000 (Dh1.1 million),' says Nitin. 'This again highlights the importance of authenticity and provenance.'
'Collectors here are drawn to timepieces that allow them to express their style, individuality, and current place in life. A vintage watch is more than an accessory — it's a personal statement — a reflection of taste, and very often a romance,' says Tariq Malik, co-founder and managing partner at Momentum Dubai, one of the UAE's leading destinations for collectors of vintage watches. His client base in the country, he explains, has a particular hunger for the rare, the expressive, and the storied – especially vintage pieces from Rolex, Patek Philippe, Audemars Piguet, Cartier, and Piaget. 'The golden era most sought after stretches from the post-war 1950s through the 1990s,' he adds. 'This was a period when even the most industrialised watchmakers experimented fearlessly, producing small, often unrepeatable batches that showcased their creative capabilities.'
If there's one model that exemplifies this new era of vintage appreciation in the region, it's the Rolex Day-Date — a watch once pigeonholed as a retired executive's gold ticker, now reimagined as a playground of colour, culture, and creative expression. 'The Rolex Day-Date remains our number one model — a cornerstone of our collection and identity,' says Tariq.
Navigating the Pre-Owned Space
With so many new entrants to the space, how do first-time buyers navigate the secondary watch market, especially in a region known for its penchant for perfection?
'Education and transparency are the two foundational pillars, especially for first-time buyers in the vintage and pre-owned market,' says Tariq. 'Many new clients in the UAE are intrigued by vintage watches, but often their knowledge is limited to what they've seen online. Without hands-on experience, it's very difficult for an untrained eye to assess the authenticity, condition, or even market value of a piece. This is where misinformation — whether from inexperienced sellers or outright bad actors — can lead to confusion.'
And where the reputation and credibility of the seller become crucial, says seasoned collector Tiziano. 'My advice to the 'newbie' is to be careful and always do your own study about the watch you want to purchase. The world of pre-owned and vintage watches is deeply fascinating — but you need to be prepared for it. It's often said, 'You buy the person, then the watch,' and I really believe in it. Always look for reliable sources from which to buy your pre-owned watch.'
With certified pre-owned (CPO) programmes now running through retailers, a new layer of legitimacy has been added to the pre-owned space. But that's not without caveats, especially for purists and collectors of vintage pieces. 'The CPO process can pose a challenge,' Tariq cautions. 'To meet certification standards, watches often undergo servicing that includes the replacement of original parts. For the serious collector, this can be a deal-breaker.' In essence, a watch may emerge from CPO servicing mechanically perfect, but for a collector, it may have 'lost its soul'.
A Future Defined by Real Demand
Tariq describes the current climate as 'a buyer's market – a moment of opportunity', where 'the secondary market, which includes vintage, is now offering both modern and historic pieces at very attractive price points. No waitlists, no inflated hype — just an honest pursuit of watches that resonate personally.'
'During the post-COVID surge, we saw a major spike in demand across the luxury watch landscape,' says Tariq. 'Prices on the secondary market for brands like Rolex, Audemars Piguet, and Patek Philippe soared well above retail, attracting a wave of new buyers chasing value. That speculative wave has cooled — and with it, many of those buyers have exited. What's left now is a healthier, more grounded market, focused on real collectors and true connoisseurs.'
Nitin agrees, noting that the secondary market has become the great equaliser. 'The two markets will continue to co-exist. You cannot have the secondary market without the former. It's great for the buyer — so much more choice,' he points out. 'One doesn't have to build a 'profile' to get on the waiting list of a desired watch now that there is a thriving secondary market,' he says. 'For the more seasoned collector, it's easier to access rare and collectible watches thanks to the number of auctions each year.'
In today's era of mindful luxury, pre-owned watches have become symbols of taste and timelessness. For the discerning collector, they offer a more personal kind of prestige, where every scratch tells a story, every patina bears quiet witness to moments lived. As the definition of luxury evolves, the UAE's pre-owned watch market, with its appetite for meaningful, storied objects, isn't merely embracing the shift — it's helping shape it.