Pre-owned Rolex and Patek watch prices at three-year low in 2024

Prices for the most sought-after pre-owned watch models from major Swiss brands Rolex, Patek Philippe and Audemars Piguet fell again in 2024, reaching their lowest level in three years.

The Bloomberg Subdial Watch Index, which tracks the prices of the 50 most traded models based on transaction value, fell almost 6% last year to its lowest level since 2021.

An index of the most popular Rolex models fell about 5% during the year, prices for Patek watches fell 4%, and prices for Audemars Piguet watches lost about 7.5% in the market. the opportunity, according to data from Subdial, a watch exchange platform based in the United Kingdom.

These declines mark the third consecutive year of falling prices for high-end pre-owned Swiss watches. The pre-owned luxury watch market soared in 2020 and 2021 to reach unprecedented levels during the pandemic, before suffering a sharp decline from April 2022, in a context of slowing economic growth and increase in interest rates.

Although the drop in pre-owned watch prices in 2024 was less than in 2023 or 2022, the Bloomberg Subdial Index is still down about 13% over two years, pre-owned Rolex watch prices being lower by around 8% over the period.

Cartier is the only brand whose individual index has recorded gains since January 2023, increasing about 4% in two years as collectors’ interest in smaller jewelry watches has strengthened. Subdial’s Cartier index fell less than half a percentage point, while Omega prices fell about 1% in 2024.