Rolex 2021 models rise in value in secondary market – Robb Report
Newbies in the world of watch collecting are consistently advised to buy what they like and to avoid viewing watches as investment vehicles. Yet this year, more than ever, buying a new Rolex model from an authorized dealer and selling it on the secondary market is virtually guaranteed to generate (considerably) higher returns than the stock market.
Take, for example, the new 36mm Rolex Explorer in Oystersteel (ref. 124270). Introduced at Watches and Wonders Geneva in April for a retail price of $ 6,450, the model is currently priced between $ 10,026 and $ 11,246 on Chrono24, which claims to be “the world’s largest market for luxury watches”. As of August 3, the benchmark obtained a premium of 66.4% over retail.
On Watchfinder & Co., the UK-based pre-owned watch retailer acquired by Richemont in 2018, ref. 124270 goes for almost double its retail value at £ 9,200, or $ 12,785. And on Watch box, a Philadelphia-based second-hand retailer, the market price ranges from $ 11,000 to $ 11,500.
The new 36mm two-tone Rolex Explorer in Oystersteel and yellow gold (ref. 124273) Also earns a significant premium in the secondary market, with prices on Chrono24 going up 32.5% from its list price of $ 10,800 (with an estimated value between $ 13,255 and $ 15,655). Meanwhile, the reference sells for $ 15,000 on Watch box, and £ 12,000, or $ 16,678, on Watchfinder.
“The price growth trajectory of the new 2021 Rolex models on Chrono24 definitely follows the same model that Rolex has proven year after year as the most sought after brand in our market,” wrote Tim Stracke, co-CEO of Chrono24. , in an email. “Values continue to climb very strongly. “
The frenzy in the aftermarket has come to a head, dealers say.
“I took a week off and it all went back and forth, once again,” Carol Altieri, COO of the online used Rolex dealer. Bob’s watches, wrote in an email. “Prices have gone up 30% in almost all areas, not only on Rolex ‘regular’ hot sport models, but on all models, from ladies’ models to Datejusts and Cellinis. It must be boring to hear that!
the new Explorer II (ref. 226570), which sells for $ 8,550, “is the most elusive right now,” says Altieri. “We pay 20-30% on retail, and they sell as soon as we put them there, with a profit of 10%. I don’t know where the market will take this one yet. White dial explorers have always commanded a higher value than black.
The Explorer II mentioned above is available for almost twice its retail value on Chrono24. It is the same on Watchfinder. There, the white dial version of Ref. 226570 sells for £ 11,950, or around $ 16,611, while the black dial version is priced just under £ 11,450, or around $ 15,916.
In short, virtually all Rolex models introduced in April, from the aforementioned references to yellow gold Daytona with meteorite dial (ref. 116508), which sells for $ 41,000 but lists at £ 66,950, or $ 93,050, on Watchfinder, sells well above retail.
Consider Datejusts’ 2021 harvest. Steel Datejust 36 with palmist dial (ref. 126200) is currently available for $ 16,338 on Chrono24, more than double its retail value of $ 7,050. And go get it Datejust 36 two-tone in Oystersteel and yellow gold (ref. 126233-038), which sells for $ 11,050, has an estimated value on Chrono24 between $ 14,180 and $ 17,002. Meanwhile, Watchfinder values the gold dial benchmark at £ 11,150 to £ 12,400, or $ 15,499 to $ 17,236.
And don’t get us started on the most coveted benchmark of Rolex’s 2020 introductions, the new $ 8,100 Submariner (ref. 124600). Chrono24 calculates its current value between $ 12,877 and $ 13,841, while Watchfinder sells the model for up to £ 12,325, or $ 17,130, and WatchBox offers it between $ 13,500 and $ 14,000.
Elsewhere in the Rolex pantheon, interest in classic, and classically unobtainable, references continues to grow.
“Precious Metal Daytonas have exploded – from yellow gold greens (ref. 116508-0013) to white gold blues (ref. 116509-0071), and white gold on Oysterflex (ref. 116519ln-0027) – all of which dominate the retail market, ”said Justin Reis, co-founder and CEO of WatchBox. “Oysterflex prices are even higher than some all-gold models! Of course, the steel and ceramic Daytona (P / N 116500LN-0001) is stronger than ever, actively trading in the $ 30,000.
Stracke of Chrono24 says that collectors’ interest in discontinued models is also pushing up the prices of older references.
“It’s important to point out that in our community of collectors, it’s not just the novelties that are creating accelerated price frenzies, but also the models that have been discontinued as a result,” he says. “In this case, Rolex told Watches & Wonders earlier this year that it would be withdrawing its Explorer II (Ref. 216570) and that left collectors willing to pay hefty prices before it was no longer available.”
For buyers lucky enough to have a good relationship with an authorized Rolex dealer, inquiries should be made well in advance of any special occasion.
At Wempe, a major Rolex retailer in New York City, there are no “waiting lists” for Rolex models, which would suggest a chronological order for responding to requests. “We try to be a part of people’s lives and special occasions and we have a long-standing relationship with clients who expect us to have something for them whether their child graduates or gets married,” said Wempe US President Ruediger (“Rudy”) Albers. “But we obviously want to attract new customers. So we go about building relationships and finding customers who love the product for all the right reasons. “
“A lot of customers don’t know what’s going on in the aftermarket and don’t know what the demand looks like, so we have to educate them,” he says. “Once it’s formulated correctly, most people understand that if it takes a few months or a few years to get it, that’s history.”