After the boom period from 2020 to 2022, 2024 has brought a notable shift in the watch market that has seen uncertainty return. Luxury steel watches in particular have seen a dramatic hit with people moving away from major brands to more accessible alternatives. Rather than the usual big ticket brands – Audemars Piguet, Rolex, Patek, and the like – interest has surged in the less flashy, more attainable end of the market. Here then are the best performing investment watches of 2024 ranked by percentage increase. Prices (of course) correct at time of writing, data provided by watchanalytics.io.
Tag Heuer Carrera ref. CBG2A51.FC6450
One of the most resilient brands throughout the year has been Tag Heuer. As people have moved away from steel sports watches from the likes of Patek, AP, and Rolex, Tag Heuer’s extensive array of sports watches in steel and other materials like this rose gold Carrera were ready to capture new customers.
| Date | Opening Price (£) | Closing Price (£) | Price Change (£) | Price Change (%) |
| 12 Months (December 2023 – December 2024) | £4,481 | £6,165 | + £1,684 | + 37.58% |
Baume & Mercier Clifton Automatic ref. 10053
The mirror to high end watches doing well this year is the fact that people have been more interested than ever in affordable alternatives to popular watches. The Baume & Mercier Clifton Automatic fits the bill perfectly with its clean lines and faintly retro aesthetic for great value.
| Date | Opening Price (£) | Closing Price (£) | Price Change (£) | Price Change (%) |
| 12 Months (December 2023 – December 2024) | £555 | £674 | + £119 | + 21.44% |
Breitling Chronomat 36 Victoria Beckham ref. A103801A1L1A1
A smaller size, a beautiful green-blue dial and the chunky, throwback proportions of the chronomat – signature rouleaux bracelet and all – make this a limited edition designed to make modern collectors hot under the collar.
| Date | Opening Price (£) | Closing Price (£) | Price Change (£) | Price Change (%) |
| 12 Months (December 2023 – December 2024) | £2,841 | £3,763 | + £922 | + 32.45% |
Omega De Ville Co-Axial Chronograph 4 Counters ref. 422.53.41.52.13.001
Further building on the narrative that steel watches haven’t been performing so well compared to other materials, Omega’s top performer isn’t even a Speedmaster. It’s instead the Omega De Ville Co-Axial Chronograph 4 Counters.
| Date | Opening Price (£) | Closing Price (£) | Price Change (£) | Price Change (%) |
| 12 Months (December 2023 – December 2024) | £10,208 | £12,923 | + £2,715 | + 26.60% |
Tudor Black Bay 36 ref. M79500-0007
Tudor is more or less a no-brainer in the investment space, even as steel sports hype watches take a bit of a downturn. This 36mm version, however, taps into the current zeitgeist of shrinking diameters, while still managing to retain that retro tool watch vibe.
| Date | Opening Price (£) | Closing Price (£) | Price Change (£) | Price Change (%) |
| 12 Months (December 2023 – December 2024) | £2,049 | £2,540 | + £491 | + 23.96% |
I guess that watch collectors do have many different DNA threads, but collecting should be about appreciation of the item that you collect (whether it be watches, antiques or whatever). Pretty much any art specialist will say the same, that you should only buy the piece of art if you are happy to look at it every day and still like it, you shouldn’t buy something purely on the best guess that it may make money over a period of time, as that premise is likely to bite you on the bum, because even “experts” get it wrong occasionally.
Now to the watches listed, personally, the only one that would float my boat is the Baume & Mercier for it’s simplicity of form, yet stylish design. The fact that it is the lowest cost just happens to be purely coincidental. All of the others are too bulky and dare I say, a little vulgar.(We all have our own personal opinions), but, take the Omega. The deville range was traditionally a dress watch, therefore slimmer and more elegant that their Seamaster range, how does this latest offerings fit within the format of being a deville, with the chunky form and Chrono layout, – definitely not a deville. (In my opinion).