Rolex Prices Fall to Two-Year Low on Secondary Market

Demand for used high-end timepieces continues to fall as supply in the market climbs.

Watches
26.8K 3 Comments

On the secondary market, prices for Rolex and Patek Philippe timepieces have fallen to their lowest point in two years, as demand for high-end watches continues to slide, according to the Bloomberg Subdial Watch Index.

The Index, which reports data for the 50 most-traded timepieces, declined by 1.8% in October to reach its lowest point since 2021. The new figure puts the Index down by 42% from its highest level in April 2022.

According to Business of Fashion, during the Undex’s October Market Update, Subdial co-founder Christy Davis said, “We are seeing growing downward pressure in the market, which could lead to a further downward drift in prices as dealers cut valuations to chase sales.”

Prices for top-tier Rolex, Patek and Audemars Piguet watches reached a record high during the pandemic; however, as interest rates have increased due to inflation, consumers are now more hesitant to invest in an expensive timepiece. While demand falls, supply is only increasing: per Subdial, the secondary market has experienced a 5% increase in the number of used watches for sale since August. Thus, price uncertainty climbed by 12% in the same period.

“With more watches available at a wider spread of prices, what we’re seeing is people dropping prices to chase sales going into the holiday season,” Davis added.

Despite the fall in used Rolex and Patek watch prices, the top models from both brands continue to sell for much higher than their retail prices on the secondary market.

Elsewhere, Panerai unveiled a limited-edition Luminor Chrono Flyback.

Read Full Article

What to Read Next

PUMA Hoops Unveils Nostalgic PUMA x 'Gremlins' Collection
Footwear

PUMA Hoops Unveils Nostalgic PUMA x 'Gremlins' Collection

Led by a mismatched pair of ‘Gremlins’ x PUMA All-Pro NITROs.

'Inverted Jenny' Stamp Fetches $2 Million USD at Auction
Art

'Inverted Jenny' Stamp Fetches $2 Million USD at Auction

Breaking the record for a single U.S. stamp sold at auction.

Inside Look at DMC: An Unsung Hero In the World of Exotic Automotive Tuning
Automotive

Inside Look at DMC: An Unsung Hero In the World of Exotic Automotive Tuning

With insights on the process and what drives clients to modify their already exquisite vehicles.

Lil Wayne and 2 Chainz Drop off 'Welcome 2 ColleGrove' Trailer – Narrated by 50 Cent
Music

Lil Wayne and 2 Chainz Drop off 'Welcome 2 ColleGrove' Trailer – Narrated by 50 Cent

Also revealing the project’s first four tracks, complete with a 21 Savage feature.

Nothing is Bringing iMessage to Android
Tech & Gadgets

Nothing is Bringing iMessage to Android

Well, sort of.


Goldwin 0 Centers on Refined Functionality for FW23
Fashion

Goldwin 0 Centers on Refined Functionality for FW23

Exploring the brand’s archives to orient the collection.

PinkPantheress Announces “Capable of Love” Tour in Support of Debut LP
Music

PinkPantheress Announces “Capable of Love” Tour in Support of Debut LP

Performing ‘Heaven Knows’ throughout North America.

Louis Vuitton Renews Nicolas Ghesquière Contract as Women's Artistic Director
Fashion

Louis Vuitton Renews Nicolas Ghesquière Contract as Women's Artistic Director

The 52-year-old designer will continue to conceptualize the French House’s womenswear collections for another five years.

adidas and BAPE Reimagine the Stan Smith
Footwear

adidas and BAPE Reimagine the Stan Smith

Celebrating the streetwear brand’s 30th anniversary.

André 3000 To Release His First Album in 17 Years, 'New Blue Sun'
Music

André 3000 To Release His First Album in 17 Years, 'New Blue Sun'

Labeled with “Warning: no bars” on the packaging, the surprise LP lands later this week.

More ▾
 
We got you covered. Don’t miss out on the latest news by signing up for our newsletters.