Are Rolex Prices Dropping in 2024? Latest News & Update

Are Rolex Prices Dropping? Rolex is a symbol of luxury, style, and success. With its iconic designs and exceptional quality, it’s no surprise that Rolex watches command high prices.

But are these prices set to go down?

In this article, we’ll explore the current state of Rolex prices and what factors are affecting them. From economic forces to market trends and supply and demand, we’ll uncover what’s driving the cost of these coveted timepieces.

Get ready to discover if Rolex prices are on their way down.

Are Rolex Prices Dropping?

Prices for the most popular Rolex, Patek Philippe, and Audemars Piguet watches have been falling since April 2021, according to Morgan Stanley.

The Rolex Daytona is 21% cheaper, the Patek Philippe Nautilus is 19% cheaper, and the Audemars Piguet Royal Oak is 17% cheaper.

However, pre-owned Rolex prices are only down 8% from the second quarter of 2022, and the Rolex Daytona is down 33% from its peak in October 2020.

Rolex Prices in the Past

Rolex watch prices have fluctuated over time. Pre-owned modern Rolex pieces begin at $2,400 for the Oyster Perpetual Ladies ref. 76080, while vintage pieces begin at $910 for the Precision.

Goldammer.me provides historical retail price evolution of the most common Rolex collections, and LuxuryBazaar.com provides current and historical pricing based on actual sales, not listings.

On the secondary market, Rolex watches typically sell for between $1,484 and $127,779, with a median asking price of $12,911.

Rolex watch prices have been falling since March 2021, with an index of Rolex resale prices at WatchCharts falling 1.84% from the previous month in early September.

Pre-owned prices for the top models have dropped by up to 21% since their peak trading period in April 2021.

Current State of Rolex Prices

Rolex Prices Dropping

Rolex watches range in price from about $7,000 to $39,350 for the GMT Master II collection.

Prices have decreased in recent years but are still more than double their retail price. The Submariner Hulk’s value has increased by nearly 26% since 2018, with an average market price of around $32,600.

Future of Rolex Prices

Rolex prices are expected to rise in 2023 but have fallen significantly in the previous year.

Due to increased supply, prices for the most popular pre-owned Rolex, Patek Philippe, and Audemars Piguet watches are expected to fall further. And due to supply chain disruptions and increased demand, Rolex has already raised prices twice in 2022.

Factors Influencing Rolex Prices

Rolex Prices Dropping

Time, condition, reference number and inner workings of the watch, model, innovation and technical upgrades, watch condition, entertainment industry influence, base material, and currency fluctuations all influence the price of Rolex watches.

Is there a Luxury Watch Market Crash Anytime Soon?

Some sources suggest that the market has already experienced a decline, with prices dropping for specific models. However, other experts argue that the luxury watch market is still strong, with high demand for sought-after models and waiting lists at official retailers.

But most experts predict that the market will cool down in 2023 but still experience growth from 2% to 4%. It is worth noting that external and internal factors, such as inflation and supply shortages, could impact the market unpredictably.

What is the Cost of Rolex Watch? The Average Rolex Price:

The cost of a Rolex watch can vary depending on several factors, such as materials, new movements, collection popularity, and complications.

A new Rolex watch can range from $4,347 for the Oyster Perpetual model to $75,000 MSRP for some high-end models. The average price for most Rolex watches falls between $7,000 – $12,000 MSRP, with most of those references made up of stainless steel and two-tone watches.

Also, remember that the cost of a pre-owned Rolex watch can be significantly lower than the cost of a new one, depending on the model and condition.

FAQ:

Will Rolex price drop in 2023?

Rolex will raise prices in 2023, with an average increase of around 2.5%. There is no evidence that a market crash will occur in 2023.

Why is Rolex dropping in price?

Rolex watch prices have been falling since spring 2022 due to a significant increase in supply. Since their peak in April last year, the most popular Rolex models have seen their prices drop by 21%. Pre-owned Rolex prices are down 21% from their peak trading point in April and 8% from Q2 2022.

Is it worth buying a Rolex now?

Your own needs and preferences determine it. Rolex watches have a reputation for holding or increasing value over time, making them a potentially profitable investment. Some models, however, may be priced nearly double their list price, and prices are likely to rise in the future.

Why is it so hard to buy a Rolex right now?

The demand for Rolex watches is astronomically high, and the annual supply of one million new watches cannot keep up. Rolex scarcity isn’t new, but it’s becoming more extreme.

Rolex is not artificially limiting supply, but the average buyer may find it challenging to purchase a new watch due to the limited availability of specific models. The pre-owned market is also thriving, which benefits the Swiss luxury brand.

How long is Rolex waiting list?

Rolex watch waitlists can range from 6-36 months, with some models, such as the Explorer II, taking 1-2 years and others, such as the GMT-Master II, taking over 5 years, and sometimes much longer. A simple Rolex Submariner in steel is expected to have a 2-3 year waitlist.

What will Rolex discontinue in 2023?

Rolex may discontinue the Submariner 114060 ‘No Date’ in 2023 and one or more of their popular stainless steel watches. The Milgauss range may also be phased out or delayed until 2026.

Disclosure: We only recommend products we would use ourselves and all opinions expressed here are our own. This post may contain affiliate links that we may earn a small commission at no additional cost to you.

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Elisa
Elisa

Elisa S. is founder, author and blogger of Streetstylis who loves to write about latest fashion trends, celebrities and designer brands with their quality, price trends.
She has close to 3 years of experience in SEO and has taken the Streetstylis Pinterest account to one of the most popular magazines on Pinterest and Instagram.
When she's not working, you'll find her doing Pilates, dancing or hanging out with her friends in Malta.

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