By
Bloomberg
Printed
January 7, 2025
Costs for probably the most sought-after used watch fashions from prime Swiss manufacturers Rolex, Patek Philippe and Audemars Piguet fell once more in 2024, hitting recent three-year lows.
Patek Philippe
The Bloomberg Subdial Watch Index, which tracks costs for the 50 most traded fashions by transaction worth, declined practically 6% final yr to its lowest since 2021.
An index of fashionable Rolex fashions dropped about 5% throughout the yr, Patek costs fell 4%, and Audemars Piguet costs misplaced about 7.5% on the used market, in keeping with knowledge from Subdial, a UK-based watch buying and selling platform.
The declines mark the third straight yr with decrease costs for premium used Swiss watches. The marketplace for pre-owned luxurious timepieces soared in 2020 and 2021 to unprecedented ranges throughout the pandemic, earlier than struggling a pointy pullback starting in April, 2022, amid slowing financial progress and better rates of interest.
Whereas the value fall-off for used watches in 2024 was much less extreme than the declines in 2023 or 2022, the Bloomberg Subdial Index remains to be down about 13% over two years, with used Rolex costs about 8% decrease for the interval.
Cartier is the one model whose particular person index has posted positive factors since January of 2023, rising about 4% in two years as collector curiosity in smaller, formed jewellery watches gained traction. Subdial’s Cartier index declined lower than half a proportion level, whereas Omega costs fell about 1% in 2024.
