Secondary-market prices for luxury watches, including Rolexes, continue to fall.
Among the reasons for the decline are “slowing economies, higher interest rates and the crash in cryptocurrencies,” Bloomberg reports.
Prices are significantly lower than they were in June 2021, according to the Bloomberg Subdial Watch Index. The index monitors the 50 most traded pre-owned luxury watches by value.
Prices were at their highest in February 2022. In addition to Rolex, brands such as Patek Philippe and Audemars Piguet are showing price declines on the secondary market.
The model showing the biggest price decline over the past year was the Audemars Piguet Royal Oak Jumbo Ultra Thin, which fell 35%. It’s currently selling for about $71,700.
Expensive watches became a more popular purchase during the pandemic, absorbing dollars that otherwise have gone toward travel, events and other luxuries. Additionally, some see luxury watches as a solid investment during uncertain economic times.
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Four Decades of Excellence: How Wilkerson Transformed a Jeweler's Retirement into Celebration
After 45 years serving the Milwaukee community, Treiber & Straub Jewelers owner Michael Straub faced a significant life transition. At 75, the veteran jeweler made a personal decision many business owners understand: "I think it's time. I want to enjoy my wife with my grandchildren for the next 10, 15 years."
Wilkerson's expertise transformed this major business transition into an extraordinary success. Their comprehensive approach to managing the going-out-of-business sale created unprecedented customer response—with lines forming outside the store and limits on how many shoppers could enter at once due to fire safety regulations.
The results exceeded all expectations. "Wilkerson did a phenomenal job," Straub enthuses. "They were there for you through the whole thing, helped you with promoting it, helping you on day-to-day business. I can't speak enough for how well they did." The partnership didn't just facilitate a business closing; it created a celebratory finale to decades of service while allowing Straub to confidently step into his well-earned retirement.
