In a recent report, Bloomberg reveals that some timepieces from OMEGA and Cartier have surpassed perennially popular models from the likes of Rolex, Audemars Piguet, and Patek Philippe in the pre-owned watch market.
According to data provided by UK-based trading platform Subdial, mid-tier priced luxury watches are “bucking the trend” even after the Bloomberg Subdial Watch Index fell 1.4% in the last month. The index constantly tracks the most traded time-tellers in the pre-owned market, with Rolex, AP, and PP dominating the masses for quite some time. Within a year, prices for specific mid-tiered luxury watch models have risen 17% within the pre-owned market, reflecting a growing interest from collectors who are seeking undervalued pieces.
The report also highlights another contributing factor to this new trend: the increased popularity of smaller watch case sizes. Trading prices for a 36mm OMEGA Seamaster now average at $5,252 USD, while Cartier’s 28mm Santos Galbee also fetches about $5,060 USD.
In the last month, the top-performing watch model as recorded by the index is a Rolex Datejust, which boasted a 36mm case size — a significantly smaller reference than the usually popular Daytona, which now ranks the worst-performing in its steel and gold variant as prices dropped around 7%.
As in-demand models from Rolex, AP, and PP continue to trade at much higher prices in the pre-owned market, the report noted that watch prices for these luxury horologers are expected to decline as supplies increase in Q3.
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