4/25/2023 0 Comments Singapore horology club rolexThe grey buying market changes the parameters once there is a small fall in a few highly sought-after models-and it is often cherry-picked-then projected to rarely traded models, mainly diamond Daytonas and diamond GMT Masters. One may need to examine how these trends of up and down were delivered. “Statistically, that is not reflective enough to inform. “For one, these numbers are measured on several moving parameters of these brands,” he says. In his opinion, the 15 to 20 per cent drop in resale prices is not significant. What does this mean for watch buyers? Dr Bernard Cheong, founder of Lifeline Medical Group and one of Singapore's most prominent watch collectors notes the importance of first considering the nuances when interpreting the ups and downs of the market. Read more: Meet the Mentors and Protégés of Rolex's 2023-2024 Arts Programme Analysts at Morgan Stanley attribute the drop to a supply glut brought about by secondhand watch dealers and collectors offloading their stocks. Similarly, WatchChart indexes reveal Patek Philippe Nautilus and Audemars Piguet Royal Oak resale prices have dropped by about 18 and 15 per cent respectively. To demonstrate this drop in prices, indexes of the financial performance of watches on the secondary market by WatchCharts show that popular models like the Rolex Daytona have fallen by about 23 percent from its highest in March 2022. It is worth noting that the most sought-after models from Rolex, Patek Philippe and Audemars Piguet account for a whopping 71 per cent of the total traded value of the secondary luxury watch market. However, prices have since dropped by about 15 to 20 per cent from their peak and, according to a report by investment bank Morgan Stanley, will continue to fall further. From 2021 up until the first quarter of 2022, prices of some of the most popular Rolex, Patek Philippe and Audemars Piguet watches surged to a high on the secondary market.
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