The Rolex market is experiencing a notable shift. With Watches and Wonders and the spring auction season behind us, 2024 has emerged as a period of stability for watches, and pre-owned Rolex models are particularly seeing a significant price drop. This presents a golden opportunity for buyers, especially those interested in Rolex’s sports watches.
The Current Market Landscape
Recent data indicates that pre-owned Rolex prices have been on a steady decline for about a year. The market is flooded with supply, and with fewer buyers in the mix, it’s a classic buyer’s market. Chrono 24’s ChronoPulse watch market index supports these observations, showing a continued decrease in prices even over the past month.
Eric Wind of Wind Vintage highlights that modern Rolex watches can now be acquired for less than retail prices due to recent market fluctuations. Specifically, models like the Submariner and Sea-Dweller have seen notable drops. For those looking to invest, neo-vintage Rolex watches also offer excellent value at present.
Top Models to Consider
1. Rolex Submariner
Neo-Vintage and Current Models:
Five-Digit Subs (1980s-2000s): The reference 16610, which features a glossy dial and gold indices, has seen a price decrease of about 10% over the past year. Many examples are now priced below $10,000, with some even dipping below $8,000. For a more vintage feel, consider the 16800 model with a matte dial, though these tend to be priced slightly higher.
Modern Six-Digit Subs: The reference 124060 (no-date version) and 126610LN (date version) have both dropped in price—around 5% and 4% respectively. These models now hover around retail prices, with the 124060 priced just over $10,000 and the 126610LN around $13,000.
Hulk Reference 116610: This all-green model, once rare and expensive, has decreased dramatically from over $26,000 during the pandemic to below $17,000 today.
True Vintage Submariners:
Reference 1680: Known for its distinctive “Red Sub” or white text, the 1680 model is seeing prices around $14,000 for white text versions, and $20,000 or more for the Red Subs. Vintage Submariner pricing is influenced by trends and condition, leading to significant price variations.
2. Rolex GMT-Master II
Five-Digit GMT-Master II: The reference 16710, particularly the Pepsi bezel model, has seen prices drop by over 7% in the past year, making it possible to find a nice example under $10,000. The condition and bezel fade can significantly affect pricing, so careful consideration is needed.
3. Rolex Explorer II
40 mm 16570: Known for its black and white dials, the 16570 has seen a decrease in price, with black dials around $8,000 and white dials at approximately $8,500. The six-digit 226570 model also reflects a similar trend in pricing.
4. Rolex Datejust
41 mm Datejust: This model has experienced a 14% decrease in price over the past year. In contrast, the 36 mm Datejust has increased by 55%, reflecting a growing preference for smaller, dressier watches.
5. Rolex Daytona and Milgauss
Daytona Reference 116500LN: Despite being one of the more expensive Rolex models, the 116500LN has dropped over 12% in the past year. It remains a significant investment, but the price drop presents a rare buying opportunity.
Milgauss 116400GV: This discontinued model has seen a 4% decrease, offering potential value for buyers interested in this unique Rolex.
Final Thoughts
The current state of the pre-owned Rolex market offers numerous opportunities for savvy buyers. Whether you’re interested in vintage, neo-vintage, or current models, prices are favorable, but it’s crucial to do thorough research and consider condition and service history. As always, a careful approach will ensure you secure a great deal on these prestigious timepieces.
