Rolex Prices Fall: Market Update September 2024

Today, we’re providing a Rolex market update as of September 2024. Pre-owned Rolex prices have dropped this year due to increased supply, leading to longer selling times for some models, while others remain hard to find. Rolex raised retail prices twice in 2024, impacting both market prices and the availability of certain models.

Some clients report shorter wait times at authorized dealers, while others still face delays for certain hard-to-find models. Wait times vary widely based on factors like store location, size, client volume, watch popularity, and your relationship with the salesperson. Compared to two years ago, waits are generally shorter for two-tone and less desirable steel pieces. Some full precious metal models are available for immediate purchase, but they typically lose value if resold. Generally, watches that sell above retail on the pre-owned market still come with significant wait times.

I’ll discuss current production watches available directly from Rolex boutiques, but first, let's look at key trends: The number of models that can be bought at an authorized dealer and resold for a profit has decreased. Many models can now be found on the pre-owned market for less than retail. Month-to-month price changes have slowed, indicating that current prices are becoming more attractive to buyers. So, is now a good time to buy, or will prices drop further? Compared to the market peak in early 2022 it's certainly less expensive but are we going to see steel professional models or even entry level pieces like the Oyster Perpetual available at 30% under retail price in 2024, probably not.

2:25 Submariner
4:18 GMT-Master II
6:28 Datejust 41
6:50 Explorer II
7:11 Day-Date
7:47 Oyster Perpetual
8:13 Daytona

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