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Chrono24 joins the debate over whether Rolex secondary market prices are falling

chrono24_Tim_Stracke

Chrono24 is challenging assertions by Chronext that premiums above authorized dealer retail prices for certain Patek Philippe and Rolex watches have been falling in the past month.

Both business are based in Germany, and avidly study their own and each others’ data for signs of movement in the market.

On Wednesday, Chronext‘s co-founder Philipp Man said that, even for the Pepsi, the premium above retail prices is narrowing. “The delta is decreasing pretty fast. It is still quite significantly above retail, but you can see that gap is going to change pretty quickly. Even though it will remain trading at a premium,” Mr Man said.

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America’s Bob’s Watches have since said they see no sign of prices falling.

Now Tim Stracke, CEO of Chrono24, has joined the debate and provided data from his own platform to WatchPro.

“We see the current discussion on price decreasing on Rolex sport models with interest. Our data does not match this observation. From our point of view the price development for especially the Rolex Pepsi is quite flat, pending around €16,000 /$18,000 over the last months. As global marketplace we mirror the market of approximately 3,000 dealers and 30,000 private sellers offering over 400,000 watches from around the world. This gives us an excellent overview on global trends within the luxury watch market. We currently track approximately 180 new/unworn Rolex GMT Master II “Pepsi” (126710 BLRO) starting at approximately €15,500 in the EU on Chrono24 and we don’t see any price decreasing here.”

 

Tags : Bob's WatcheschronextChrono24pre-owned watchesRolexSecondary Market
Rob Corder

The author Rob Corder

3 Comments

  1. The only metric that matters is watches actually sold (volume and sold price). There could be hundreds of units at $18000 gathering dust in strong rooms, unsold.

  2. With the huge amount of very finely made replicas that work perfectly well sold at a fraction of the retail price of rolex , consumers are at last wising up to the fact that they are paying far too high prices for almost identical watches. It is sheer madness to wear authentic rolex and being asked if they are genuine! Almost no one can tell the differences between reolicas and genuine ones these days without opening the case backs to look at the mechanism.Hence, it is not surprising tosee huge inventory building up.

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