The prices for pre-owned Rolex watches continued to decline last month, pushing the brand further behind competing brands, including Cartier and Omega, along with a number of entry-level labels, in the secondary market. Per the Bloomberg Subdial Watch Index, Rolex saw a 2.2% decrease in market prices, due to collectors’ wariness to purchase top-shelf timepieces after a price surge in 2021 and 2022.<\/p>\n
While Rolex saw the most significant decline in pricing, all watchmakers reported negative results. Omega timepieces, like the Speedmaster Moonwatch, fell by 1.2%, while Cartier’s\u00a0models, including the Tank and Santos, achieved the smallest decrease of 0.4%. Tudor, Rolex’s more-affordable relative, declined by 1.8%.<\/p>\n
Alongside the industry’s largest name brands, an index of 100 newer labels, charting prices below $9,120 USD, also tallied a collective fall of approximately 0.8%. The market’s steady decline, which first began in April 2022 following a record boom in price tags for leading watchmakers, can be attributed to rising interest rates and cryptocurrencies’ crumbling, according to the outlet.<\/p>\n
In the last six months, the Bloomberg Subdial Watch Index, which reports data for the 50 most-traded timepieces, has witnessed a 5% decrease in prices. The Entry-Level 100 Index, meanwhile, reported a much lighter fall of just 0.7% in the same period.<\/p>\n