An interesting take on the decline of the current Rolex market, the below link to a
short video is from a US perspective, however, mirrors the decline we've observed in UK pricing of late. WatchCharts Rolex index, which tracks the average selling price of popular models, shows a 6.2% decline in prices over the last 6 months and an 8.4% decrease in the last 12 months.
As a business, we took the decision not to pursue the Rolex market for stock (we can and have sourced several to order for our valued clients). In our opinion, watches trading above RRP due to the scarcity factor around Covid was not sustainable and this was always expected. I have no doubts that a lot of dealers that have high cost / slow moving inventory will get hurt and maybe even go under due to market conditions. On the other hand, we've just finished a record month in November and with an 86% year on year revenue growth and 110% net profit growth from the previous November so I'm confident we made the correct decision!
Thinking of buying a Rolex? Our advice is to wait 6 months and re-assess (but we don't have a crystal ball!). Have a great weekend.
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