Rolex, Patek prices hit fresh two-year lows: Subdial Index
Prices for used Rolex and Patek Philippe watches fell to fresh two-year lows on the secondary market last month as demand for pricey timepieces continued to decline amid rising supply.
The Bloomberg Subdial Watch Index dropped 1.8% in October, sinking to its lowest level since 2021. The index, which tracks prices for the 50 most traded watches by value on the secondary market, is now down 42% since a high in April 2022.
The declines follow a massive surge in prices to record levels for the most in-demand Rolex, Patek and Audemars Piguet models during the pandemic. Now that interest rates have jumped amid strong inflation coupled with rising geopolitical tensions and shaky economic growth, watch collectors are curbing timepiece purchases.
Christy Davis, the co-founder of Subdi...