By now, the term luxury downturn is enough to turn any Swiss watchmaker’s stomach before the day’s first espresso and flaky pastry.
Across the industry, CEOs are being shuffled out of corner offices, brands are tightening wholesale allocations, and authorised dealers who once ran waitlists like velvet-roped nightclubs are suddenly chasing clients again.
Prices on the grey market have softened, yet collectors are circling like sharks in the shallows, waiting to snap up deals. Nowhere is this more obvious than on Chrono24, where TAG Heuer has quietly carved out a strong aftermarket presence.
TAG Heuer’s Top 5 Aftermarket References (Chrono24, past 12 months)
| Model | Reference | Market Share | Price Change |
|---|---|---|---|
| Monaco Calibre 11 | CAW211P.FC6356 | 18.37% | -4.31% |
| Monaco Gulf | CBL2115.FC6494 | 10.79% | -10.23% |
| Carrera Chronograph | CBS2210.FC6534 | 7.21% | -2.64% |
| Carrera Chronograph | CBS2216.BA0041 | 5.05% | -8.79% |
| Aquaracer Professional 300 GMT | WBP5114.BA0013 | 4.70% | -0.22% |
Monaco Calibre 11 (Ref. CAW211P.FC6356)
The numbers tell a story of shifting demand. Leading the charge is the Monaco Calibre 11 (CAW211P.FC6356), which accounted for 18.37% of TAG Heuer searches despite a -4.31% slide in value.
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That fall reflects the broader cooling of speculative watch buying, but the Monaco’s Steve McQueen connection keeps it firmly in collector crosshairs. Even with prices dipping slightly, its square case and Le Mans heritage make it the brand’s most hunted aftermarket reference. Collectors see it as the cornerstone Monaco, which explains its outsized share of demand.
Monaco Gulf (Ref. CBL2115.FC6494)
Not far behind sits the Monaco Gulf (CBL2115.FC6494) at 10.79% of searches. Its value softened more sharply (-10.23%), but it remains one of the most recognisable limited-editions in the TAG catalogue.
A steeper drop in value has only made it more accessible, giving collectors a chance to buy into motorsport history at a discount. For buyers, this represents opportunity: a design classic with historic motorsport ties, now at prices unthinkable a couple of years ago.
Carrera Chronograph (Ref. CBS2210.FC6534)
The Carrera Chronograph (CBS2210.FC6534) also proved its staying power, pulling 7.21% of searches with only a modest -2.64% drop.
Its modest correction hasn’t dented interest, and it remains a go-to daily chronograph for buyers who want something timeless, versatile, and tied to TAG’s racing DNA. It’s proof that TAG Heuer’s understated design still resonates with collectors looking to add a motorsport marvel to the collection.
Carrera Chronograph (Ref. CBS2216.BA0041)
Its sibling, the Carrera Chronograph (CBS2216.BA0041), saw heavier pressure (-8.79%) yet still held 5.05% of market share. Both highlight the Carrera’s enduring relevance even as TAG pivots towards bolder, sportier releases. Collectors may be trimming spend, but they still want Carrera DNA on the wrist.
Aquaracer Professional 300 GMT (Ref. WBP5114.BA0013)
Rounding out the top five is the Aquaracer Professional 300 GMT (WBP5114.BA0013), making up 4.7% of searches with virtually no loss in value (-0.22%).
In a year of red numbers, that stability stands out. The Aquaracer isn’t trying to be anything it’s not: a hard-wearing, travel-ready diver that quietly resists the market drag pulling down flashier models.
Luxury Slowdown? Not on Chrono24
Even in a luxury slowdown, TAG Heuer’s motorsport icons haven’t lost their pull. The aftermarket may no longer be a casino where every bet pays, but that shift is exactly what’s made it more compelling for serious collectors.
We’ve already seen this play out with Rolex sports models and select vintage pieces that continue to command steady premiums in spite of broader economic jitters.
TAG Heuer’s performance on Chrono24 suggests that its cornerstone references, the Monaco and Carrera in particular, are beginning to enjoy a similar kind of resilience.
For buyers, that means opportunity where smart money flows toward proven icons rather than the flavour of the month. For TAG Heuer, it’s proof that even outside the stratospheric realms of Patek Philippe or vintage Daytona prices, the brand still commands loyalty and respect when it comes to watches that matter.
In a softened market, the hunting ground favours those who know what they’re looking for… and right now, TAG Heuer is delivering.
