As Rolex and Patek Prices Set to Drop Further Q4 2022, Pawn Your Luxury Watch to Release the Capital

In comparison to many other asset classes, secondary watch market values have declined less over the past 18 months, according to the poll. The secondhand prices of the 30 most popular Rolex watches have increased overall by 21% since January 2021, while declining by 8% this quarter. This stands in stark contrast to both the 34 percent decrease in Bitcoin during the same time period and the flat S&P 500 stock market index.

A few Swiss watch brands that are defying the lower pricing trend are mentioned in the report. Rolex and Patek prices dropped, but those for Bulgari, which is owned by LVMH, grew by 1%, A. Lange & Sohne by Richemont by 3%, and Girard Perregaux, which Kering SA bought this year through a management-led buyout, by 5%.

According to Morgan Stanley analysts, prices for the most popular pre-owned Rolex, Patek Philippe, and Audemars Piguet watches will continue to decline.

An index of the most popular Rolex Daytona chronograph models tracked by WatchCharts has decreased by 21% since the market peak in April, following increases in 2021 and the first quarter of 2022. Prices for the most popular Patek Philippe Nautilus references are down an average of 19% on the secondary market, while prices for Royal Oak manufacturer Audemars Piguet are down 15% since the peak.

Due to a "dramatic" rise in supply, prices will probably continue to decline, according to Morgan Stanley analysts, among others.

In the secondary watch market, "we have observed a significant increase in watch inventory year to date as a result of secondhand watch dealers and individual watch investors off-loading their holdings," according to Morgan Stanley.

Given the available watch inventory for sale and the worsening macroeconomic environment, we would anticipate continued quarterly declines in second-hand prices.

The Vacheron Constantin Overseas reference 4500V/110A-B483 is an illustration of the deterioration. The Richemont-owned company's steel sport swatch model, which normally sells for $22,500, reached its secondary market high in April at $39,900. It is currently available for around $30,900, which is still significantly more expensive than retail.

According to the survey, secondary watch market values have dropped less over the last 18 months than many other asset groups. Even if the used prices of the 30 most popular Rolex watches dropped by 8% this quarter, they are still up by a total of 21% since January 2021. This contrasts well with the flat S&P 500 stock market index and the 34 percent decline in Bitcoin during the same time period.

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