As the year comes to an end, various industries are beginning to submit summary reports. For instance, Bob’s Watches, a well-known US second-hand watch trading website specializing in Rolex, has recently released new data that has sparked discussions among watch enthusiasts. They have collected and studied extensive information on second-hand Rolex watches to conduct a trend analysis covering the period from 2020 to 2024.
Bob’s Watches discovered that during this period, the popularity of some Rolex bestsellers abroad has continued to rise instead of decline. For example, the GMT-Master II 126710BLNR with a blue and black bezel, nicknamed “Batman” by foreign watch enthusiasts, has seen its popularity increase by 10% in 2024. The GMT-Master II with a brown and black bezel, affectionately called “Root Beer”, is even more exaggerated, with its market popularity surging by 433% in 2024. The Pepsi bezel 126710BLRO of the same series has also witnessed a significant growth of 134.8% in popularity in 2024. Another style with a substantial increase in popularity might come as a surprise – the white-faced Explorer II, nicknamed “Polar” by foreign watch enthusiasts, has seen a 157% increase in market demand in 2024, contrasting with its relatively stable market performance we have perceived previously.
Bob’s Watches has compiled a report on the performance of second-hand Rolex watches from 2020 to 2024. It contains various trends that can be interpreted, such as the pricing growth of the GMT-Master II left-crown watch over these years.
Rolex has raised the prices of its watches at least once every year in recent years. From 2022 to 2024, the average price increase of popular series like Daytona has reached as high as 12%. Meanwhile, the pricing of the green Submariner 126610LV and the GMT-Master II left-crown watch has increased by 15% and 20% respectively during the same period. This indicates that the market value of Rolex watches, especially the popular models, has basically been growing steadily, which is why the prices have been increasing year by year.
The demand for Rolex watches with green dials has increased significantly in 2024, indicating that people’s acceptance of designs that deviate from traditional colors has heightened.
Another key observation by Bob’s Watches is that in 2024, Rolex watches with black or blue dials remain the market favorites. The former accounts for 35% of their total sales, and the latter makes up 28%, meaning these two colors combined account for over 60% of the market. However, when comparing 2024 with 2023, it is found that the market demand for green dials has also grown astonishingly by as much as 42%. Such data is positively correlated with the openness of the market towards dial colors. Additionally, Rolex watches with rarer elements such as meteorite dials have also seen a 25% growth in sales in 2024.
The 40 mm case size of Rolex watches is still the most favored by the market. It is moderately sized and has a certain heft when worn by men.
During the five years observed by Bob’s Watches, they have noticed an upward trend in the popularity of 36mm case sizes. This size accounted for 30% of Rolex’s sales in 2024. Additionally, Rolex watches with a 40mm case size remain the mainstay of their collection this year, accounting for 45% of total sales. The slightly larger 41mm size has a 20% share, and its sales have grown by 25% just in 2024.
The report also studied the popularity of case materials. From 2022 to 2024, the sales of two-tone gold and steel models have grown by 22%, indicating a revival in the market’s preference for retro-style designs. Moreover, the sales of Rolex watches with white gold cases have risen by 15%, and rose gold is not far behind, with a 12% growth in sales during the same period.
The long-standing Oyster bracelet has an authentic Rolex image and is the most favored by the market.
Bob’s Watches has even analyzed the popularity of the straps equipped on the watches. They found that the popularity of the Jubilee five-bead bracelet has increased by 18% in 2024, making it the top choice for many when picking the Datejust series. As for Rolex’s classic Oyster bracelet, its market position remains unshakable, accounting for 40% of their total sales. It is worth noting that although current Rolex watches no longer come with leather straps, they can still be found in the secondary market. Rolex watches with such straps have also seen a 10% increase in popularity in 2024. It seems that people’s pursuit of retro styles also influences their choice of strap types.
After going through the pandemic era, collectors now have higher requirements for Rolex watches that come with complete boxes and papers. Compared to 2020, the probability of selling Rolex watches with both boxes and papers has increased by 15% in 2024. Since this represents the completeness of a watch and helps maintain its secondary market value, buyers pay particular attention to whether the products meet these conditions when searching for watches.
Bob’s Watches also reminds that in recent years, the market’s interest in vintage Rolex watches has been on the rise, especially for models from the 1980s or even earlier, such asyster Perpetual and GMT-Master. Their market demand has increased by 20% in 2024. It seems that the charm of classic models is particularly favored by the market in an uncertain atmosphere like the pandemic. Even after the pandemic, people’s fondness for vintage watches has not cooled down.
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