More than 70% of the luxury watches sold by EraVault, the luxury watch boutique, are Rolex, priced under €30,000. The top traded models include the Rolex Submariner, Rolex Datejust, Rolex GMT- Master II, Rolex Daytona and Rolex Sky-Dweller.
After reaching an all-time high in March 2022, luxury watch quotations are now close to a two-year low on the secondary market. Some Rolex, Patek Philippe and Audemars Piguet models are now priced more than 30% lower than in the first quarter of last year, say EraVault representatives.
“Many of our clients are investing in luxury watches these days as an alternative to traditional investments such as bank deposits, government bonds or the stock market. Between August 2018 and January 2023, the average secondary market price for three of the leading luxury brands, Rolex, Patek Philippe and Audemars Piquet, rose 20% annually, even during the Covid-19 pandemic, according to a recent analysis by research firm Boston Consulting Group”, says Alexandra Bran, EraVault Communication Director.
The secondary market for luxury watches is valued at €21 billion, representing 30% of the total market value.
Top five best-selling Rolex watches in Romania
Long waiting lists on the retail market, that can go up to several years, drive many Rolexwatch seekers to the secondary market.
The secondary market selling price of some Rolex, Patek Philippe or Audemars Piquet models is often higher than the original selling price, due to demand exceeding the production capacity of the luxury brands.
The Rolex Submariner is probably the most famous luxury watch in the world. Originally designed for professional divers, it has over time become both a status symbol and the ideal watch to wear every day.
The latest model features a rotating, unidirectional, highly scratch-resistant ceramic bezel, 60-minute graduations, highly visible Chromalight display, Triplock system for triple waterproofing, 300m water resistance and high shock resistance.
Since the first model appeared in 1953, Rolex Submariner watches have improved their water resistance, shock resistance and functionality.
Launched in 1945, the Rolex Datejust set itself apart from other models by being the first one featuring an automatic mechanism, water-resistance and date display.
While the first model came with a 36 mm diameter, Datejust is now produced in two versions, 36 mm and 41 mm.
Over the years, Datejust has continued to reinvent itself without losing its classic elegance. The Rolex Datejust has been worn by important personalities such as Winston Churchill, Dwight D. Eisenhower and Martin Luther King.
Rolex GMT- Master II
The Rolex GMT-Master II was launched in 1950 out of the need for pilots to frequently refer to different time zones.
Models produced after 2007 feature an iconic two-colour rotating bezel in scratch-resistant ceramic, highly visible Chromalight display, high shock resistance and simultaneous display of two time zones.
The Rolex GMT-Master II is an outstanding luxury accessory, useful to frequent travellers.
Rolex Cosmograph Daytona
The Rolex Daytona was launched in 1963 and is now the world’s best-known chronograph model, one of the most popular and desirable luxury watches.
The watch was named “Daytona” after the famous Daytona International Speedway circuit in Florida, reinforcing its connection to motorsports.
The latest reference launched in 2023 features a new mechanism (4131), which for the first time in history can be admired through a transparent case back.
In 2017, Paul Newman’s Daytona watch shattered records for the most expensive Rolex ever sold when it was auctioned for €16.66 million.
It is the watch with the most complex mechanism produced by Rolex.
The first model was launched in 2012 at BaselWorld, with a second hour hand and annual calendar, and is the only model in the collection with an 18K gold rotating bezel. It is Rolex’s largest dress watch with a diameter of 42 mm.
The Sky-Dweller is an elegant watch with sports watch qualities, which enthusiasts say its the big brother of the Rolex DateJust.
Source : BusinessReview