Hamza Masood is the Business Development Manager at WatchCharts.com, which has kindly allowed us to share their monthly Market Updates.
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Secondary watch market prices continue to decline as we enter the second half of 2024. The WatchCharts Overall Market Index lost 0.3% in June, consistent with the performance in May we reported in our previous update. Rolex prices fell -0.2% last month, while Patek Philippe prices fell -0.7% and Audemars Piguet prices rose by 0.1%.
However, our Overall Market Index has seen an accelerated rate of decline thus far in July, and is down 1.2% in the last 30 days.
July 2023 – June 2024 Watchchats Market Index
Watches in the $5K-$10K range had a notably weak second quarter
While much of our analysis is concentrated on Rolex, Patek Philippe, and Audemars Piguet due to their dominating market share, we do track the market more broadly through our other brand indexes.
Through the second quarter of this year, we have noticed that many brands at around the $5,000 to $10,000 price point on the secondary market have seen accelerated market price declines.
We mostly attribute this to general weakness in the market, as the directional movement of these mid-level brands has been relatively aligned with the Big Three historically. The results are summarized in the table below.
| Brand | Index Value (USD) | 2Q Performance |
| Girard-Perregaux | 15,837 | -4.6% |
| Breitling | 4,078 | -4.0% |
| Blancpain | 14,716 | -3.3% |
| Zenith | 12,238 | -3.0% |
| BVLGARI | 12,225 | -2.5% |
| Piaget | 11,251 | -2.4% |
| Panerai | 8,510 | -2.1% |
| IWC | 8,806 | -2.1% |
| Cartier | 9,544 | -2.0% |
| Omega | 8,527 | -1.9% |
| Chopard | 9,254 | -1.5% |
| Ulysse Nardin | 10,560 | -1.3% |
| Glashütte Original | 10,331 | -0.9% |
| Jaeger-LeCoultre | 10,231 | -0.4% |
Rolex watches with the highest/lowest secondary market premiums
Not all Rolex watches are equally desirable, and in this YouTube video we look at the watches that have the highest premiums and highest discounts relative to retail on the secondary market.
The “celebration dial” Oyster Perpetual 41 and Oyster Perpetual 36 are obvious candidates for the highest premiums, but the Yacht-Master family hides some great value.
Check out the WatchCharts YouTube channel for more market insights and analysis.
The Best and Worst Performing Collections in June
Some of the best and worst performing collections for the month are included in the table below. Most collections that have seen significant changes in value on a monthly basis are at three-digit price points and therefore do not significantly impact or represent the state of the market.
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