Value Retention Is Not Accidental
Some watches hold their value. A rare few actually increase in value over time. But this is not random -- it is the result of specific, repeatable factors: brand prestige, controlled production, iconic design, and sustained demand. The watches on this list share all four qualities, and their secondary market performance proves it.
For Canadian collectors looking to acquire pieces that double as stores of value, these are the benchmarks against which everything else is measured.
1. Rolex Submariner (Ref. 126610LN / 124060)
The Submariner is the single most liquid watch on the secondary market. Whether you buy the date or no-date variant, a Submariner purchased at retail today will trade at or above retail within months. Even pre-owned examples from five or ten years ago have appreciated meaningfully. The 2020 redesign with the slimmer lugs and updated movement (Cal. 3230/3235) commands strong premiums. Retention rate: 95-120% of retail depending on condition and completeness.
2. Rolex Daytona (Ref. 116500LN / 126500LN)
The modern ceramic Daytona is perhaps the single strongest appreciating standard-production watch in the world. The 116500LN, released in 2016, trades at roughly double its original retail price. The 2023 update (126500LN) has only intensified demand. Waitlists at authorized dealers stretch years. On the pre-owned market, expect to pay a significant premium above retail -- but history suggests you will recoup it.
3. Patek Philippe Nautilus (Ref. 5811/1G)
After the legendary 5711/1A was discontinued in 2021 -- sending prices into the stratosphere -- Patek replaced it with the 5811 in white gold. The 5711/1A in steel remains one of the most valuable standard-production watches ever made, routinely trading above CAD $150,000 despite an original retail of approximately CAD $40,000. The 5811 is following a similar trajectory. Retention rate: 200%+ for the 5711; the 5811 is still establishing its floor.
4. Audemars Piguet Royal Oak (Ref. 15500ST / 15550ST)
Gerald Genta's 1972 masterpiece has become one of the most sought-after luxury sport watches in existence. The 41mm steel Royal Oak trades at roughly 1.5-2x retail, and the recent 15550ST update with the integrated bracelet and redesigned case has done nothing to diminish demand. Even the smaller 37mm references hold well. Browse our Audemars Piguet collection to see current market pricing.
5. Rolex GMT-Master II (Ref. 126710BLNR / 126720VTNR)
The "Batman" and "Sprite" colourways have created their own collector subculture. The GMT-Master II is a tool watch with genuine travel utility, and its iconic rotating bezel and dual-time functionality make it one of the most wearable Rolex sport models. Steel references consistently trade at 20-50% above retail. The left-handed "Destro" 126720VTNR has been particularly strong since its 2022 debut.
6. Patek Philippe Aquanaut (Ref. 5167A / 5267A)
Long considered the Nautilus's younger sibling, the Aquanaut has come into its own as a collector's piece. The 5167A in steel trades well above retail, and the travel time variants (5164A, 5650G) command even stronger premiums. Its rubber strap, modern aesthetic, and Patek pedigree make it a compelling entry point into the brand -- if you can find one. Retention rate: 130-180% of retail.
7. Rolex Day-Date (Ref. 228235 / 228238)
The "President" watch holds a unique position: it is Rolex's flagship, available only in precious metals, and carries decades of cultural weight. While gold watches generally depreciate more than steel, the Day-Date is an exception. Strong demand in the Middle East, Asia, and North America keeps values elevated, particularly for desirable dial configurations. The fluted bezel on an Everose bracelet is one of the strongest-performing precious metal watches in the market.
8. Richard Mille RM 011
Richard Mille operates in a different stratosphere. The RM 011 -- an automatic flyback chronograph with annual calendar -- is the brand's signature model. Originally retailing around CAD $200,000, examples now trade at CAD $250,000-$400,000+ depending on material and edition. The brand's extreme scarcity, celebrity following, and distinctive aesthetic create a market with almost no downward pressure. This is a watch for collectors with serious capital, but the returns have been remarkable.
9. Patek Philippe Grand Complications (Ref. 5270, 5320, 5204)
Patek's Grand Complications line represents the pinnacle of watchmaking, and the secondary market reflects it. The perpetual calendar chronograph (5270), perpetual calendar with day/date (5320), and split-seconds chronograph with perpetual calendar (5204) all trade at or above retail. These are watches that take years to manufacture and are produced in tiny numbers. For serious collectors, they represent both the art and the investment case at their absolute peak.
10. Audemars Piguet Royal Oak Offshore (Ref. 26470ST / 26238ST)
The Offshore -- the Royal Oak's bolder, more aggressive sibling -- has seen a resurgence in collector interest, particularly the chronograph models. The 26470ST in steel has appreciated steadily, and the 2022 redesign (26238ST) with its flyback chronograph movement brought renewed energy to the line. Expect to pay premiums of 30-70% above retail on desirable references.
What These Watches Have in Common
Every watch on this list shares three traits: it comes from a brand that controls production tightly, it has a design that has proven timeless over decades, and it has demand that consistently outstrips supply. These are not trendy pieces that spike and crash -- they are foundational references with long track records.
If you are building a collection with an eye toward value, speak with our team about current availability and market positioning on any of these references.
