- On Wall Street, watches are key status symbols, with Rolex dominating and models scaling up in prestige with seniority.
- Rolex and other luxury-watch brands raised retail prices in early 2025 amid higher gold costs and macro pressures, while secondary-market prices dipped but show signs of stabilizing.
- A new 39% U.S. tariff on Swiss watches has sharply increased costs, pushing more American buyers toward certified pre-owned inventory.
- Career-stage “signal risk” matters: juniors are safer with modest or entry-level pieces, while senior bankers favor high-end or ultra-luxury models without appearing overly flashy.
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“Watches as status symbols” remain deeply embedded in Wall Street culture. According to interviews, Rolex leads: DateJust and Submariner are front-runners among steel models; GMT and Daytona are reserved for VPs and above. Other brands like Panerai, IWC, Omega, TAG Heuer are popular for moderately luxurious signalling, with ultra-luxury labels (Patek Philippe, Audemars Piguet, A. Lange & Söhne) seen almost exclusively among senior leadership or watch aficionados. [1]
The luxury‐watch ecosystem is currently reshaped by economic pressures. Rolex began 2025 by increasing retail prices by as much as 8% on gold watches and 2–3% on steel references, largely due to surging gold costs and currency or tariff pressures. [2] Meanwhile, resale values for popular heritage brands fell between 5% and over 8% year-over-year, though in Q1 2025 the drop in the secondary market slowed and even showed small gains for beloved models. [2]
Trade policy adds another layer of complexity. A 39% U.S. tariff on Swiss-made watches (implemented on August 7, 2025) has made watch purchases significantly more expensive for U.S. buyers, and official dealers warn that not all cost pressures can be absorbed. End consumers are already shifting toward certified pre-owned inventory to partly avoid tariffs, increasing demand and putting upward pressure on resale prices. [3][2]
From a strategic perspective, several open questions emerge: how does one balance cost, signal, and career stage? For example, juniors wearing Rolexes may trigger negative assumptions unless the purchase is typical (e.g., heirloom) or aligned with norm; VPs and MDs can afford higher-ticket pieces but may risk over-signalling if not carefully chosen. Additionally, brands and models offered, resale vs retail availability, and price dynamics across geographies will increasingly matter in policy, compensation, and employer image.
Supporting Notes
- Rolex increased prices on precious-metal watches (e.g., yellow gold Day-Date 40mm and GMT-Master II) by about 8%; steel models saw more modest increases: ~1–3% in early 2025. [2]
- Secondary market indexes for Rolex, Patek Philippe, Audemars Piguet showed declines year-over-year (approx. 5–8%) but performance improved in Q1-2025, with Rolex resale prices rising modestly ~0.3%. [2]
- U.S. tariffs raised to 39% on Swiss luxury imports in August 2025, pushing up costs and affecting American consumers heavily. [3]
- In bank hierarchy: summer interns default to Apple Watches or entry-level brands (Seiko, G-Shock); analysts may accessorize with steel Rolexes or modest luxury brands; VPs prominently wear Daytona, Overseas, Luminor, cost upwards of $15,000–$30,000. [1]
- Senior/executive bankers (directors, managing directors) often buy ultra-luxury, rare brands: Patek Philippe Nautilus, Perpetual Calendar, A. Lange & Söhne ($100,000-plus). [1]
- Growing preference for pre-owned or certified-preowned due to retail price hikes and limited supply; Rolex launched official certified program; pre-owned demand increasing. [2][3]
Sources
- [1] www.efinancialcareers.com (eFinancialCareers) — 29 December 2025
- [2] finance.yahoo.com (Yahoo Finance) — 4 January 2025
- [3] www.ft.com (Financial Times) — 1 August 2025