If you are thinking of buying a second-hand luxury watch, now might be the right time. As reported by Bloomberg, prices of iconic brands such as Rolex, Patek Philippe and Audemars Piguet on the secondary market have reached their lowest levels in three years in 2024. An interesting opportunity for those who want to enrich their collection.
The Subdial Watch Index, developed in collaboration with a British watch trading platform, tracks the market values of the 50 most traded models. In 2024, the index recorded a 6% decline, marking its lowest level since 2021. This led to a significant decline in the prices of some highly sought-after models.
Second-hand Rolexes saw an average decrease of 5% over the year, while Patek Philippe recorded a 4% decline. Audemars Piguet saw an even more dramatic decline in prices, with a 7,5% decline. Brands like Omega and Cartier saw smaller declines, at 1% and less than 0,5%, respectively. Despite this trend, Cartier stands out as one of the few brands that has seen an increase in value over the past two years, thanks to the increased interest in jewelry watches.
The pre-owned luxury watch market experienced a surge in 2020 and 2021, aided by the pandemic context that stimulated demand. However, starting from spring 2022, the situation changed, with a progressive adjustment due to the economic slowdown and the increase in interest rates. In total, the Subdial Watch Index reported by Bloomberg has seen a 13% decline in the last two years.
For interested buyers, the market offers several options today. Models such as the vintage Submariner, the five-digit GMT-Master II or the Explorer II are particularly affordable in this phase of price decline. However, it is essential to do thorough research before purchasing.