India’s luxury watch scene has undergone a remarkable transformation in recent years, evolving from a niche interest into a passion-driven culture embraced by celebrities and connoisseurs alike. In the latest episode of “Luxe Life” by The Hollywood Reporter India, host Sneha Menon Desai takes viewers behind the curtain of this exclusive world, guided by Karan Vaidya of the House of Rose. Their in-depth discussion not only unpacks the glittering collections of Indian celebrities but also reveals the nuanced artistry, the rare complications, and the financial realities of owning the world’s finest timepieces in India.
The Celebrity Influence: Shah Rukh Khan and More
Bollywood’s elite have long been trendsetters, and their fascination with luxury watches is no exception. Shah Rukh Khan stands out with a watch collection that is not just impressive in its size but legendary in its exclusivity. One of his most talked-about pieces is the watch he wore to the Met Gala, valued at a staggering $2.5 million at retail. Interestingly, in the secondary market, the value can climb even higher, illustrating the desirability of such rare timepieces.
Salman Khan’s collection is similarly remarkable. He owns a Patek Philippe minute repeater adorned with sapphires—a true masterpiece showcasing both luxury and technical prowess. Sanjay Dutt, one of Bollywood’s original watch collectors, boasts exclusive pieces like a Roger Dubuis dual tourbillon and a leopard Daytona, while Ranbir Kapoor and Ranveer Singh also reveal their enthusiastic embrace of high-end watches, each carefully curated to reflect personality and style.
Such celebrity endorsements have helped elevate the status of luxury watches from mere status symbols to objects of genuine appreciation and investment.
The Holy Trinity of Watchmaking and Beyond
A cornerstone of any serious watch collection is recognition of the so-called “Holy Trinity” of watchmaking—the three most revered brands: Audemars Piguet, Patek Philippe, and Vacheron Constantin. Contrary to popular belief, Rolex, often thought to be part of this trio, is not included. These brands, with legacies surpassing 200 years, are iconic for their craftsmanship and the incredible complexities they engineer into each watch.
One of the key features that distinguishes these watches is their “complications”—mechanical functions beyond telling time. For example, a minute repeater chimes the time using small gongs, a feature invented before electric lighting was common, allowing the wearer to hear the time in the dark. Another complication, the tourbillon, is designed to counteract the effects of gravity on the watch’s accuracy—originally relevant for pocket watches but now a hallmark of high-level horological skill.
Many of these features, while seemingly impractical in the modern era, serve as a testament to the artistry and engineering expertise invested in the creation of each watch.
The High Cost of Luxury in India
Owning these masterpieces in India involves navigating a complex and costly import duty and tax regime. Watches attract an import duty of 22%, one of the highest worldwide, alongside an 18% Goods and Services Tax (GST). For watches priced above ₹10 lakh, there is also a 1% Tax Collected at Source (TCS). In comparison, countries like Singapore or the United Arab Emirates impose much lower tariffs, making luxury watches more affordable abroad.
Given this scenario, many collectors purchase watches overseas and import them to India, shouldering this substantial tax burden to embrace their passion. The high import costs also explain why many prestigious watch brands do not officially retail in India, leaving many enthusiasts reliant on international outlets or secondary markets to access desired models.
Understanding the Secondary Market
The secondary market for luxury watches is a dynamic ecosystem fueled by demand, exclusivity, and investment potential. When a watch model is highly sought-after—produced in limited quantities but desired by many—owners can resell these watches often at a premium.
During the COVID-19 pandemic, this market surged as people had more time and money to invest in alternative assets. Prices peaked in 2022, though levels have since moderated somewhat, remaining higher than pre-pandemic years.
However, pricing in the secondary market varies widely depending on factors like the watch’s age, condition, and whether it comes with original packaging and documentation. For instance, a Rolex watch might command a 50% markup, but there is no fixed rule as each watch is unique.
Exclusivity and the Power of Purchase History
Purchasing the rarest and most coveted watches is not purely a matter of money but often relationship-based. Retailers and brands cultivate valued clients over time—much like luxury handbags such as the Hermès Birkin. Without a proven purchase history, some customers might be denied access to highly limited releases.
This exclusivity fuels demand and perpetuates the status symbol allure. It’s a self-reinforcing cycle: watches that are harder to obtain become more desirable, with waiting lists sometimes stretching years.
The Challenge and Thrill of Sourcing Rare Watches
Behind-the-scenes stories reveal the lengths dealers and collectors go to in order to acquire certain timepieces. Customization requests, cross-continental coordination, and urgent clearances at customs can define the experience. For example, a special customized watch arranged for a celebrity’s wife’s milestone birthday involved months of negotiations with the Swiss brand and a tense final delivery right before the event.
While Hollywood often features product placements timed with character roles—as seen with Omega’s long-standing association with James Bond—such orchestrated collaborations are less common in Bollywood, where watches are often chosen post-production for aesthetic appeal.
Building the Perfect Collection: Essential Watches for Men and Women
According to Karan Vaidya, every man’s watch collection should include three essential pieces:
- A steel sports watch from brands like Rolex, Audemars Piguet, Omega, or Patek Philippe, depending on budget.
- A dress watch—often smaller, styled with a leather strap, and featuring complications such as a calendar. Brands like Jaeger-LeCoultre and Blancpain are popular choices.
- A sporty everyday watch rugged enough for casual use, sometimes with rubber straps, from brands like Hublot or Bulgari.
For women, collections often include:
- A versatile steel and gold watch suitable for both casual and dressy occasions.
- An elegant leather strap watch, sometimes adorned with diamonds or colored stones.
- A classic plain steel watch for everyday wear.
Watches as Personal Expressions and Investments
True collectors are passionate about their watches for reasons beyond investment or status. The “best” watch is always deeply personal—the one that resonates most with the wearer’s tastes and lifestyle.
While watches can indeed be investment-grade assets, buying solely for potential appreciation can lead to dissatisfaction if the piece goes unworn. Karan emphasizes the importance of purchasing watches for genuine affection rather than market speculation.
Collectors often find that once they acquire their “grail” watch, a new desire for the next rare or unique timepiece emerges—a continuous journey of discovery and enjoyment.
The Rarest and Most Coveted Watches in India
India offers many opportunities for bespoke, one-of-a-kind watches. Some brands like Blancpain create exclusive enamel paintings or sculptural dial customizations, creating pieces that are as personal and rare as a fine work of art.
Popular yet elusive models often requested include the Omega Snoopy and the Rolex Daytona. While these watches are available in theory, the wait time is highly variable, dependent on the client’s purchase history and relationship with the retailer—ranging from months to several years.
Exploring New and Niche Brands
While the traditional heavyweights command respect, Vaidya encourages collectors to explore independent and niche brands that deliver exciting innovation and diversity. Names like FP Journe, MB&F, Konstantin Chaykin, and others offer extraordinary designs and craftsmanship that add unique dimensions to any collection.
Ultimately, a distinguished watch collection reflects the multifaceted personality of its owner rather than adhering only to the celebrated icons of mainstream horology.
India’s luxury watch market today is a vibrant blend of timeless legacies, cutting-edge craftsmanship, celebrity influence, and exclusivity-driven desire. For Indian collectors, each watch is not just a statement of wealth but a celebration of art, prestige, and personal storytelling. This evolving passion promises to keep the world’s most exquisite timepieces ticking prominently on wrists across the country.
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