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Zurich, Switzerland--Pre-owned Rolex Daytona watches are surpassing the secondary market and some sought-after timepieces from competitors, according to the Bloomberg Subdial Watch Index launched in collaboration with trading platform Subdial. Since Rolex discontinued the Daytona model and introduced a new version on March 27, prices for the most recent Daytona have risen by 4%. This increase outpaces the overall market and desired watches from rivals Patek Philippe and Audemars Piguet.

[Image via SCMP]

The index monitors prices for the 50 most traded pre-owned luxury watches by US dollar value, offering insights into the secondary market's demand. Discontinued luxury watch models often witness a price increase due to limited supply.

The report notes that while Daytona's value has risen, Patek Philippe's discontinued and highly sought-after 5711 Nautilus has dropped by 2.2%. The most traded version of the Audemars Piguet Royal Oak has fallen by approximately 1.1%. The overall index for the top 50 most traded luxury watches remains unchanged during the same period.

“The pre-owned watch market is returning to strength with Rolex leading the way,” said Christy Davis, a co-founder of Subdial, as per the report. The discontinuation of the most recent Rolex Daytona model has contributed to its price increase, with the number of circulating pieces now capped.

The report further stated that following an unprecedented surge during the pandemic, secondary watch market prices have declined steadily for the past year. The Bloomberg Subdial Watch Index has decreased by around 32% in 12 months, while Daytona's value has fallen by about 30%. Since the beginning of the year, Daytona has dropped roughly 14%, while the overall market has dipped nearly 19%.

Learn more in the full report published by SCMP.