Only Two Used Rolex Models Rise in Value in a Year of Falling Watch Prices

Solely two used Rolex models within the Bloomberg Subdial Watch Index gained in worth over the previous 12 months as consumers sought out worth in a declining market.

The Rolex GMT Grasp II in stainless-steel with a ceramic blue and pink bezel, nicknamed the “Pepsi” by collectors, rose about 5 p.c over the earlier 12 months and 1.5 p.c within the final 30 days to commerce at roughly $20,000, the index exhibits.

The one different watch within the index to extend in worth was the reference 69173 Woman-Datejust in metal and gold which gained about 1 p.c to commerce round $4,200. It was the highest performing watch within the index over the previous month, including about 4 p.c.

The Bloomberg Subdial Watch Index tracks costs for the 50 most traded luxurious watches on the secondary market by transaction worth. The info is offered by Subdial, a pre-owned watch supplier and buying and selling platform based mostly in London. The index declined about 7 p.c in a 12 months and was flat over the previous 30 days with little change in worth.

The Rolex GMT with the pink and blue bezel is the perfect identified and most fascinating for collectors of the Rolex GMT fashions. The travel-focused watches enable customers to maneuver the hour hand backward or ahead with out stopping timekeeping features. Developed for Pan-American Airways pilots within the Fifties, additionally they function a so-called GMT hand to trace one other timezone.

The mannequin with the pink and blue bezel can be the preferred with clients at Rolex authorised sellers and is among the many most tough to amass with consumers being positioned on waitlists that may final years earlier than they get the decision.

Rolex fanatic web sites and watch sector YouTubers have speculated in latest months that the mannequin may very well be discontinued by the largest Swiss watch model when it reveals its 2024 catalog in April. No exhausting proof has been reported that Rolex intends to discontinue the favored mannequin. The corporate by no means shares its manufacturing plans and declined to touch upon the matter when contacted by Bloomberg Information.

The “Pepsi” has outperformed the same mannequin with a black and blue bezel that lovers have nicknamed the “Batman.” Aside from the bezel, GMT hand color and metal bracelet kinds, the fashions are basically the identical. In Switzerland, the Pepsi on a five-link “jubilee” bracelet is listed for 10,400 Swiss francs ($11,942) at retail whereas the Batman on an “oyster” bracelet sells for 10,200 francs.

The Rolex Woman-Datejust 69173 is the one mannequin within the Bloomberg Subdial Watch Index focused particularly at ladies with its title. It’s additionally the bottom priced watch within the group and the one one to commerce at lower than $5,000.

The Woman-Datejust is the smallest watch within the index with a diameter of 26 millimeters (roughly one inch.) After surging to file highs in the course of the pandemic, costs for essentially the most in-demand trophy fashions from Rolex, Patek Philippe and Audemars Piguet have fallen sharply on the secondary market since April 2022. Costs for smaller, in addition to mid-tier priced watches from manufacturers like Cartier, have been extra secure.

By Andy Hoffman

Study extra:

The Record Rush to Buy a Rolex or a Patek Philippe Is Over

“What we noticed in 2021 and 2022 was out of the norm,” mentioned Francois-Henry Bennahmias, chief government officer of Audemars Piguet.