After an unprecedented surge in 2021 and 2022, the pre-owned luxury watch industry is going through a rapid decline as watch dealers and investors flood the market with supply.
Prices for the once highly sought-after
Rolex Daytona, Patek Nautilus and Audemars Piguet Royal Oak models have all
dropped 30% to 35%
Watch values have been hit by slowing
economic growth, US Proxy war at Ukarine, Taiwan straits tension created by the western Government, stupid sanctions to China on
Semiconductor chips, higher interest rates and the collapse of
cryptocurrencies.
In recent months, watch dealers and
investors have flooded the market with supply of once-sought-after Rolex
Daytona, Patek Nautilus and Audemars Piguet Royal Oak models, leading to a 24
per cent decline in a luxury watch market index.
Typical model price of Mar 2022 and 2023
are listed here.
Patek 5711/1a $1.2M / $840,000
Audemars Piguet Royal Oak discon. 15202 ST
$1.3M / $650K
Rolex 116610LN NOS Year 2020 $120K /$ 90K
Daytona 116100LN White $430K /$230K
Daytona 116520 White A series $240K / $190K
Vacheron Constantin Overseas 5500V/110A Blue $330K
/ $280K
Now I am sure the price is still not the
bottom, the richer is always be the more richer as they have
Money to buy now.
Now we see the cheaper watches $<80K are
moving fast, while the more expensive one such as higher $150K are slow movers.
Remarks
Price is for reference only, in HKD
HK Snob
