Credits: Article and images by Hamza Masood @ Quill & Pad. See the original article here - https://quillandpad.com/2024/05/12/watchcharts-may-2024-watch-market-update-rolex-secondary-prices-still-declining/
Hamza Masood is the Business Development Manager at WatchCharts.com, which has kindly allowed us to share their monthly Market Updates.
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With Watches & Wonders and the associated speculation around discontinuations and new releases firmly in the rearview mirror, the secondary watch market in April 2024 has continued to follow the longer term trend of decline.
In this report, we summarize the high level trends from last month, give an update on the Rolex Pepsi, and cover some of the best and worst performing collections in April.
After a Brief Respite, the Market Decline Continues
In April, we saw a -0.4% decline in the WatchCharts Overall Market Index, compared to a -0.2% loss in March. The decline in Rolex prices in April also increased month over month, from -0.6% in March to -1.6% in April. Patek Philippe prices dropped -0.1% while Audemars Piguet prices declined by half a percent after experiencing a brief increase in March.
While the rate of secondary market decline has slowed down since around November of last year, the WatchCharts Overall Market Index and Big Three brand indexes shown in the charts above all reached new lows in March/April since the watch market downturn began two years ago.
We saw a particularly large decline for Rolex last month, as Pepsi discontinuation rumors proved to be false and the brand’s 2024 releases were generally considered to be underwhelming.
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Credits: Article and images by Hamza Masood @ Quill & Pad. See the original article here - https://quillandpad.com/2024/05/12/watchcharts-may-2024-watch-market-update-rolex-secondary-prices-still-declining/