Pre-owned Rolex watch prices continued to fall on the secondary market last month while entry-level models and cheaper brands like Cartier and Omega fared comparatively satisfactory.
According to market prices tracked by the Bloomberg Subdial Watch Index, an index of Rolex watches fell by 2.2 percent in September.
An index of 100 entry-level timepieces, generally priced below £7,500 ($9,120), declined by 0.8 percent over the same period.
The outcomes show collectors and enthusiasts are still cautious of shelling out for the most-hyped models from the top Swiss brands following an increase in prices in 2021 and into 2022.
Prices for Rolex, Patek, and other top pre-owned models skyrocketed to records on the secondary market during the 2020 pandemic only to draw back sharply starting in April 2022 amid higher interest rates and the collapse of many cryptocurrencies.
Cartier watches, including models such as the Tank and Santos, were the best-performing brand index, falling 0.4 percent. An index of Omega models, including the Speedmaster Moonwatch, dropped 1.2 percent. An index of models by Tudor, Rolex’s lower-priced sister brand, fell 1.8 percent.
Over the last six months, lower-priced, entry-level watches have performed well in the overall market as well as the Rolex and Patek Philippe indexes.
The Bloomberg Subdial Watch Index, which contains a group of the 50 most traded timepieces by value from Rolex, Patek Philippe, and Audemars Piguet, has declined about 5 percent in six months while the Entry-Level 100 index has declined by just 0.7 percent over the exact period.
The Cartier index, which contains many models priced below £7,500 ($9,120), has been the best performer, acquiring 2 percent over six months.
The Subdial data shows that the exception to the inexpensive timepieces outperforming the trend has been Rolex sister brand Tudor, whose entry-level priced watches have declined 4.8 percent in six months.
Still, the majority of the timepieces in the Bloomberg Subdial Watch Index from Patek, AP, and Rolex continue to bring costs on the secondary market above their listed retail price.
Considerable entry-level priced models, from Breitling to Cartier to Omega, tend to trade at levels below their retail cost on the secondary market.
The Bloomberg Subdial Watch Index has declined 12 percent in a year while the Entry Level 100 index has acquired 1.2 percent.
