Patek Nautilus, Audemars Piguet Royal Oaks and Rolex Daytonas watch prices crash after pandemic
Secondary market prices for the Royal Oak “Jumbo” reference 15202 surged above £110,000 ($199,000) at their peak in March, more than doubling over 12 months. Now the watch is trading about £70,000.
Yet even as prices for the most traded Rolex, AP and Patek references have fallen, values for many dress watches, so-called neo-vintage pieces from the 1980s, 1990s and early 2000s, as well as some models featuring complex complications are outperforming, according to Subdial.
For example, many references from classically styled German brand A. Lange & Sohne, owned by Richemont, have gained ground during the year, rising between 30 per cent and 40 per cent, Subdial data shows.
Prices have also gained for some models by IWC, another brand owned by Richemont known for its classic pilot watches and chronographs. Prices for the Big Pilot reference IW501902 climbed 20 per cent in a year, buoyed by the release of the recent Top Gun film.
More intricate pieces featuring chronographs, perpetual calendars and other complications have outperformed. Patek Philippe’s 5070 chronograph is up 20 per cent in a year.
“When a bubble starts to build around one thing, watch enthusiasts find another,” said Christy Davis, a Subdial co-founder. “Steel sports watches went mad but this isn’t crypto at the end of the day: it’s a market driven by people who are actually passionate about it and want to own the watch itself.”
Bloomberg
