For investors in Swiss watch brands — and all high-end watches for that matter — new data is showing that price declines in the secondhand, or used, market will continue.
And that's especially good news for shoppers of Rolex watches, which have been notorious for extreme supply shortages and long waitlists.
In a recent note to clients, Morgan Stanley reported that the WatchCharts Overall Market Index — which tracks a basket of 60 luxury Swiss watches across 10 brands in the secondhand market — fell for the ninth straight quarter in the second quarter ended June 30.
Prices have been falling since the pandemic peak hit in the first quarter of 2022. Current prices in the second quarter fell sequentially compared to the first quarter by 2.1%, and year over year by 1.2%.
“The secondary market decline remains broad-based, with few brands seeing positive performance in the second quarter,” Morgan Stanley analysts wrote in the report.