The WatchCharts Overall Market Index rose 0.2% in November 2025, with Patek Philippe gaining 1.5%, Audemars Piguet rising 0.2% and Rolex falling 0.2%. No major brand declined more than 1%, a first since the early-2022 market peak. U.S. tariffs on Swiss imports fell from 39% to 15% in mid-November.
Why it matters (interpretation): The broadening price recovery suggests secondary-market stabilization, although the divergence between Patek Philippe and Rolex points to uneven demand.