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Second Hand Rolex and Patek Philippe Prices Continue To Fall October 18, 2022 (0 comments)
![Rolex watch piece](/images/made/221f66deb3a3ac58/pexels-leef-parks-3809175_242_242_c1.jpg)
New York, NY--Prices of used Rolex and Patek Philippe watches fell by 8%, according to a recent quarterly report by Morgan Stanley.
[Photo by Leef Parks]
As highlighted in the report, the prices of the watches surged in 2021 and during the first quarter of 2022. However, the prices of the most popular models fell by 21% after peaking in April.
The fall in price has been attributed to a "dramatic" increase in supply, with Morgan Stanley analysts saying that they have noticed a "significant increase" of watch inventory in the secondary watch market year. The reason for this, per the analysts, is the offloading of stocks by second-hand watch dealers and individual watch investors.
The prices, per the report, will continue to fall. "Given the current watch inventory for sale and the worsening macro backdrop, we would expect second hand prices to contract further quarter over quarter," Morgan Stanley analysts stated in the report.
Secondary watch markets have also significantly declined significantly over other asset classes during the past 18 months. The second-hand prices of 30 most-traded Rolex pieces fell by 8 percent this quarter. However, they are still up by 21 percent since January 2021.
Read more in this report.