It’s no secret that the pre-owned watch market has cooled off significantly in the last year and a bit, with the pandemic-fueled speculation we saw in aggregate pricing finally tapering off. However, while almost all popular watches that once sold over retail have seen a drop in value (12% on average over the past year), two market-beating Rolex references have resisted the decline.
As reported by Bloomberg, both the Rolex GMT Master-II Ref. 126710BLRO and Rolex Lady-Datejust Ref. 69173 have refused to follow their Swiss siblings into decline; they actually gained in value over the past 12 months.
These gains have been followed on the Subdial market tracker, which indexes the pre-owned prices of around 50 different watches (including 45 from Rolex, five from Patek Philippe, and one from Audemars Piguet).
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According to Subdial, the Rolex GMT Master-II Ref. 126710BLRO has jumped around 7.4% to an average price of US$20,264 (AU$31,049); while the Rolex Lady-Datejust Ref. 69173 has increased by 2.7% and now costs US$4,241 (AU$6,498). Sure, those aren’t massive gains by any measure, but when you compare them against the 48 other watches on the index — that have dropped by an average of 42.5% — it’s a solid showing in the midst of an economically uncertain time.
Part of the staying power of the Rolex GMT Master-II, according to Bloomberg, is thanks to rumours the legendary blue and red bezel GMT will be discontinued later this year. However, Rolex is notoriously tight-lipped about its upcoming releases/planned discontinuations, so we’ll need to wait for April to confirm this.
The success of the Rolex Lady-Datejust Ref. 69173 is an equally speculative area. However, as the only female-marketed watch on the index, it may well suggest an uptick in the number of women who are getting into watches.
After all, one of the most positive aspects of the watch-collecting world over the last five years has been the rise of social media accounts and publications talking directly to women interested in the hobby (e.g. DIMEPIECE and GIRLS O’CLOCK).
In the meantime, the wait continues as the pre-owned watch market struggles to find its bottom.
