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Rolex, Patek Philippe and Audemars Piguet luxury watch prices on second-hand market forecast to fall further amid supply glut
- Second-hand dealers and individual investors are offloading luxury watches and flooding the pre-owned market with supply, says Morgan Stanley
- Prices of the most popular models are down by 15 to 21 per cent from their peak, bank says. But prices of some other luxury Swiss watches continue to rise
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Prices for the most popular pre-owned Rolex, Patek Philippe and Audemars Piguet watches will fall further as the market has been flooded with supply, analysts at investment bank Morgan Stanley said in a report.
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After surging in 2021 and during the first quarter of 2022, an index of the most popular models from Daytona chronograph maker Rolex tracked by platform WatchCharts has fallen by 21 per cent since the market peak in April.
Prices for the most popular Nautilus-maker Patek Philippe references are down an average of 19 per cent on the secondary market, while those for Audemars Piguet – the maker of the Royal Oak – have declined 15 per cent since the peak.
Prices are likely to keep falling because of a “dramatic” increase in supply, Morgan Stanley analysts including Edouard Aubin said in the report.
“We have noticed a significant increase of watch inventory in the secondary watch market year to date as a result of second-hand watch dealers and individual watch investors offloading their stocks,” Morgan Stanley said.
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