On a crowded lane leading to the Nizamuddin dargah in Delhi, below a modest market complex, sits a 10-by-10-foot watch repair shop that feels far removed from India’s luxury malls. Inside, Javed Khan, 62, leans over his workbench, a magnifier fixed to his right eye, easing the case back onto a watch with practised calm. Khan has been repairing watches for nearly five decades. “I was 12, I guess… it’s been close to 50 years now that I’m repairing watches,” he says, without looking up.
The clientele at Javed Times ranges from students to professionals, and increasingly, young collectors hunting for pre-owned mechanical watches. On one recent afternoon, Khan examined a handless, strapless Omega that had belonged to a customer’s grandfather. After a few questions about the watch’s age, Khan went to work. Thirty minutes later, the watch ticked back to life. “This is nothing,” he says. “I’ve repaired watches which are as old as from the 1940s.”
His glass counter displays vintage HMTs, Seikos and small-seconds watches priced between Rs 4,000 and Rs 9,000. A regular customer standing nearby remarks: “Been going there since my teens. Got my HMT, Favre Leuba and other watches repaired and serviced, no issues since his touch.” Khan himself has slowed down. Where he once repaired 15-20 watches a day, he now prefers to take his time. “It’s good, you know… I get to meet so many people this way and understand their style,” he says, as an Apple Watch on my wrist emits a discreet activity ping.
Scenes like this are increasingly common across Indian cities, from old markets to Instagram storefronts, reflecting a broader shift in how Indians are buying watches. While India’s luxury watch market continues to expand, growing at an estimated 11-12% annually, according to SOIC Research, the secondary market for vintage and pre-owned watches is emerging as a parallel growth engine.
Deloitte’s 11th Swiss Watch Industry Study points to a structural shift. About 44% of Generation Z globally intend to buy a pre-owned watch in the next 12 months, double the share among baby boomers. “The boom in pre-owned watches is no longer a niche trend,” the report notes. Affordability, access to discontinued models and sustainability are key drivers, turning the secondary market into a gateway for new customers.
Hobby to business
In Bengaluru, that gateway often opens through Instagram. Antiquity Watches was started by Jude Rathnakar, 26, who began collecting watches with his pocket money while still in law college. “It started as a hobby,” he says. “I was buying HMT Pilot, Janata for some Rs 800, cool looking, automatic.” He began selling some pieces in his final year, posting them online. Demand followed quickly.
“People who are buying these watches have taste, they are collectors,” Rathnakar says. “These are exclusive and with a great price point like Rs 5,000 instead of Rs 50,000, it’s a steal.” His inventory evolved from Indian brands to Japanese names such as Seiko and Citizen, sourced from local markets and a growing network of traders. “Earlier availability was easy. Now the market is depleted and there are fakes,” he adds.
His buyers are typically aged 20-40 years, salaried professionals who return month after month. “A customer who is buying will come again next month once salary is credited. They are repeat customers,” he says. Trust, Rathnakar argues, is central to the business. “Once they buy once or twice, they are blindfolded and trust me. I talk to customers on call. If they can’t buy high-end models, I get them instalments.”
Prices, however, have moved decisively upwards. “Prices have doubled compared to four years ago,” he notes, as interest shifts away from mass-market quartz watches. “Watches is a new collectible thing, like sneakers too.”
That emphasis on mechanics rather than branding is echoed by Md Anas, founder of Vintage Watcholic in East Shahdara, Delhi. Established in 2014, his business initially exported 70% of its watches to the US, UK, Europe and Japan. Domestic sales began only in 2024. “There was not much craze for mechanical in Indian market earlier, but now there is,” Anas says. “Collectors are emotionally invested with the piece.”
Vintage Watcholic deals largely in Swiss and Japanese mechanical watches, often 30-40 years old, with full disclosure on condition. “Some models are original. Some are refurbished or modified with new dial paint, case changed but movement must be original,” he explains. “We mention that clearly.”
His customer profile has shifted sharply younger. “Earlier, 35-40-year-old people used to come. Now youngsters come as well, around 20-25 years,” he says. Pricing is framed around value rather than prestige. “After servicing, a Rs 30,000 model can be sold for Rs 3,000 and that’s great. People would rather buy for the mechanism instead of shelling money for the brand name.”
India’s relative advantage in servicing underpins this model. “Manpower, watch mechanics are cheaper here,” Anas says. “In India, they would get Rs 30,000 salary but the same in Japan is Rs 3 lakh. Servicing is costly outside.”
The organised response
This fragmented, trust-driven ecosystem is now being complemented by organised retail. According to Mukul Khanna, chief operating officer of Ethos, the pre-owned segment has matured rapidly. “The pre-owned luxury watch segment in India has seen meaningful evolution over the past few years with a clear increase in consumer acceptance for certified pre-owned watches,” he says. “The growth is being driven equally by repeat customers and the entry of younger, aspirational buyers, particularly GenZ.”
Ethos operates Second Movement, its certified pre-owned platform.
“At Second Movement, sales have demonstrated a growth rate of nearly 33% in 2025 compared to 2024,” Khanna notes, attributing this to rising trust and digital exposure. Indian consumers, he says, are motivated by “value accessibility… the availability of unique and varied timepieces,” and “faster access to luxury brands to iconic timepieces”.
Trust, he stresses, is non-negotiable. “Strongly agree, trust is the cornerstone of the pre-owned luxury watch business,” Khanna says. “Authentication, certification service, and warranties are critical.” Every watch sold through Second Movement undergoes multi-stage authentication and carries a one-year warranty.
Demand is strongest in metros such as Delhi-NCR, Mumbai and Bengaluru, but traction is emerging from Tier II and III cities, including Jaipur, Lucknow and Indore. Ethos recently opened a dedicated Second Movement boutique in Gurugram, reflecting what Khanna calls a “trust-led omni-channel approach”.
A parallel growth engine
India’s watch industry has long been shaped by mass manufacturers such as Titan Watch Company, founded in 1984 and now producing more than 17 million watches a year. Yet the rise of the pre-owned market suggests a structural diversification rather than a passing fad.
According to SOIC Research, luxury and high-end watches now account for 70% of India’s watch sales, up from 48% in FY20, while average selling prices have more than doubled to Rs 2.04 lakh.
Khanna agrees. “Over the next 3 to 5 years, we expect the pre-owned luxury watch segment to evolve into a standalone growth engine,” he says. “The segment is attracting a distinct customer base that expands the overall market rather than cannibalising primary sales.”
Back in Nizamuddin, Javed Khan closes his shop for the evening, having sold two HMTs for Rs 7,200. “I take it slow now,” he says again. In a market increasingly driven by scarcity, heritage and resale value, the quiet patience of India’s watch resurrectors, from backstreet workshops to certified boutiques, may prove central to the industry’s next phase of growth.