Zenith Watch Price Guide

Most watch enthusiasts know of Zenith as the brand behind the famous El Primero movement. Not only was it the world’s first integrated automatic chronograph movement when it was launched in 1969, but it’s also a high-beat movement (ten beats per second) that has stood the test of time. Zenith’s El Primero-powered chronographs have always been popular, and they’ve released some pretty wild ones in recent years. But the resale value of non-El Primero Zenith watches has historically been fairly tepid. In this guide, I’ll give you an overall picture of the Zenith watch price landscape, both new and pre-owned.

Zenith Watch Price Sweet Spot

I’ll come right out and say it: Zenith’s wheelhouse is the $5,000-$10,000 price range. That’s in terms of actual market price, not list price. If you’re looking for a chronograph with that budget, there are a ton of cool Zenith El Primero options to consider (you can see some in our chart below). Even something like a ceramic Defy El Primero 21 with a skeletonized dial should be attainable for under $10,000.

MSRP vs. Market Price for Popular References

Model	Reference	Used Market Price (Mar. 2024)	Final or Current MSRP (Mar. 2024)
Chronomaster Sport (Steel)	03.3100.3600/69.M3100	$8,100	$11,300
Chronomaster Sport (Rose Gold)	18.3100.3600/69.C920	$16,000	$23,000
Chronomaster Original Boutique Edition Blue	03.3200.3600/51.M3200	$6,500	$10,300
Chronomaster Original 38mm Watches of Switzerland	03.3203.3600/10.M3200	$6,200	$9,500
Chronomaster Original Triple Calendar	03.3400.3610	$9,500	$13,900
Chronomaster Revival	03.A384.400/385.C855	$5,300	$8,700
Defy Classic (Titanium)	95.9000.670/51.R790	$4,300	$6,500
Defy Classic White Ceramic	49.9002.670/01.R792	$5,450	$7,900
Defy El Primero 21 (Titanium)	95.9002.9004/78.M9000	$9,850	$14,000
Defy El Primero 21 (Carbon)	49.9000.9004/78.R582	$9,600	$14,000
Defy Double Tourbillon (Carbon)	10.9000.9020/79.R918	$88,000	$124,400
Defy Double Tourbillon (Platinum)	40.9000.9020/78.R582	$100,000	$155,500
Defy Zero-G (Rose Gold Bracelet)	18.9000.8812/79.M9000	$70,000	$134,900
Defy Zero-G (Rose Gold, Leather Strap)	18.9000.8812/79.R584	$52,000	$119,200
Pilot Type 20 Extra Special Chronograph Bronze	29.2430.4069/21.C800	$4,600	$7,900
Pilot Big Date Flyback	03.4000.3652/21.I001	$7,750	$11,800
Elite Ultra-Thin	18.2010.681/11.C498	$7,200	$13,400

Most Expensive Zenith Watches

Frankly, the market doesn’t show Zenith a ton of respect when it comes to their high-end complicated watches. You can find a pre-owned Zenith annual calendar chronograph (like ref. 87.2430.4054) for under $10,000. You can even get a solid gold tourbillon El Primero Chronograph for under $30,000–less than you’d pay for a decidedly tourbillon-free Rolex Daytona on an Oysterflex strap.

One of my favorite Zeniths is the Defy Zero-G ref. 18.9000.8812/79.R584, with Zenith’s Gravity Control module (which is objectively superior to a tourbillon in my opinion) at 6 o’clock. Made out of solid rose gold with a skeletonized movement, it’s a stunning watch. But if you needed to sell it, you’d probably get less than half of its $119,200 list price.

Double tourbillon chronographs like ref. 10.9000.9020/79.R918 can even be had for around $100,000. Spending $100,000 on a Zenith can get you a dressy tourbillon chronograph covered in diamonds, or even a sapphire case watch–and those are often among the most expensive watches in the world. $100,000 is about where actual Zenith market prices max out, though.

I think the watch market as a whole simply views Zenith as more on par with Omega and Rolex than Patek Philippe and Vacheron Constantin, and there’s a certain mental ceiling to the price many collectors will pay for one. But for that reason, you can get some pretty insane high-end Zeniths for (relatively) reasonable prices.

Cheapest Zenith Watches

Zenith probably makes about 30,000 watches per year, but they made a lot of watches in their pre-quartz heyday–as many as 350,000 per year according to Swisswatches Magazine. So, Zenith watch prices can be quite low for some of the dressy old ones. The cheapest Zenith watch worth considering might be a vintage 220 S model; you should be able to find a good stainless steel example for $1,000. If you can increase your budget to $2,500 you can probably get a mildly-dated-looking El Primero from the early 2000’s.

Do Zenith Watches Hold Their Value?

Zenith’s value retention could best be described as “average.” Not the best, not the worst. Countless brands make luxury watches that have pre-owned fair market values somewhere around 60% of their original list prices, and I would include Zenith in that mix. But as long as you don’t pay full price to begin with, you should do fine. And any decent-looking modern El Primero chronograph tends to have a “floor” value of at least $5,000. Chronomaster Original and Chronomaster Sport models generally sell well. So do the Defy and Defy Extreme. Watches from the Pilot and Elite lineups are harder to sell, though, and you’ll take a bigger hit trading one of those in.

In short, Zenith watch prices are in line with most of their competition. While you shouldn’t expect Zenith watches to be a great financial investment, there are some impressive options that credibly compete at a variety of price points. There’s a reason so many collectors have an El Primero in their watch box.