Out of the Big Three, Patek Philippe prices fell the most in both the past month and past year. Audemars Piguet prices were effectively flat in February, and Rolex prices rose very slightly.
January 2025 saw straight declines across the board for the WatchCharts Overall Market Index which fell by -0.9%, as well as for the Rolex (-0.8%), Patek Philippe (-0.9%), and Audemars Piguet (-0.5%) indexes. These declines are comparable to what we observed a year ago in February 2024 and two years ago in February 2023.
The good news is that prices have fallen less in 2024 than they did in 2023 or 2022.We probably haven’t seen the secondary market represent this much value-for-money since before COVID.
With the Overall Market Index now at a two-and-a-half year low, the broad-based nature of the declines across the market continues: Rolex prices are now also at a 30-month low, while Patek Philippe has hit a 26-month low, and Audemars Piguet is at a 27-month low.
The WatchCharts Overall Market Index saw a positive trend in September, rising 0.8% compared to the previous month. The last time we reported a positive trend was for the month of December 2023, when the market likely saw a boost due to the holiday season.
The WatchCharts Overall Market Index saw its largest monthly drop so far this year in August, losing 1.0% of its value. The last time we reported this index losing more than 1% of its value in a single calendar month was in November 2023.
The first full month of the second half of 2024 continues to show the market in decline. The WatchCharts Overall Market Index lost 0.8% in July, worse than the performance in June.
Through the second quarter of this year, Watchcharts has noticed that many brands at around the $5,000 to $10,000 price point on the secondary market have seen accelerated market price declines.
The long-term decline in secondary market prices continued over the course of last month. In this update, we cover the Big Three in detail as well as the performance of all key secondary market brands.
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.