Bad news for horology enthusiasts; The WatchCharts Overall Market Index — which tracks the prices of high-end wrist wear from the likes of Patek Philippe and Audemars Piguet — has reported a 32 percent drop in value from a March 2022 peak. Rolex is in special trouble, with a 27 percent decline all of its own.
With economic uncertainty across Europe, the UK and the US, coupled with high interest rates, it seems fewer of us have the spare dosh to spaff on fancy watches, especially in the secondary market which is where the current downturn is reported. Which sheds new light on a Telegraph article from three weeks ago which declared “Demand for Rolex watches jumps as super-rich shrug off inflation crisis” and “Luxury timepieces regarded as a recession-proof investment.”
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