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Rolex Prices Finally Fall in Resale Market

Prices dipped 5% in May.

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The raging resale market for luxury watches, including Rolexes, has softened a bit.

An WatchCharts index that tracks Rolex prices dipped 5 percent in May, Business Insider reports.

A broader index of luxury watch models from various brands declined 9.3 percent.

“I think that rapid short-term increase that we saw from the end of last year to April of this year was just unsustainable, and I think it just had to come down to earth a bit,” said WatchCharts founder Charles Tian.

Tian anticipates continued growth for luxury watch prices, however, even if the pace slows down.

McKinsey expects the luxury watch resale market to reach $29 billion by 2025.

New Rolexes have been hard to come by for many months, and secondhand models — if you could find them — have commanded extreme prices.

Expensive watches became a more popular purchase during the pandemic, absorbing dollars that otherwise have gone toward travel, events and other luxuries, according to the newspaper. Additionally, some see luxury watches as a solid investment during uncertain economic times.

 

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