WatchCharts June 2024 Watch Market Update: Decline In Secondary Market Continues, Plus Best Value Steel UK Top Replica Rolex Daytona Watches
Hamza Masood is the Business Development Manager at WatchCharts.com, which has kindly allowed us to share their monthly Market Updates.
The long-term decline in secondary market prices continued over the course of last month. In this update, we cover the Big Three in detail as well as the performance of all key secondary market brands.
We discuss why there are still worrying signs for the Swiss made Rolex replica watches market and cover some of the best and worst performing collections of May.
In May, we saw a -0.4% decline in the WatchCharts Overall Market Index, consistent with the performance in April we reported in our previous update.
1:1 UK Rolex fake watches prices rose +0.3% last month, though this was not enough to offset a particularly poor performance of -1.6% in April.
Audemars Piguet (-1.1%) and Patek Philippe (-0.2%) both saw further declines last month, with AP in particular ranking among the worst performing brands of the month.
Why Rolex’s Price Appreciation may be a False Dawn
May was the second month this year in which fake Rolex watches for sale saw a positive performance, and the one-year view of cheap Rolex super clone watches’ index indicates a slowing rate of decline. However, these observations on their own are insufficient to understand where market prices may go from here.
Answering that question requires taking a deeper look at market fundamentals, which paint a grimmer picture.
Firstly, it is important to point out that market performance is affected by seasonal trends. Over the past few years, we have seen relatively stronger performance from around the start of the holiday season to the end of Watches & Wonders (November to April), compared to the summer and fall months (April to November).
Secondly, we have seen a concerning slowdown in Rolex sales and uptick in total available inventory since the beginning of this year. While supply for perfect copy Rolex watches in our Rolex Market Index roughly doubled in 2022, it remained relatively stable in 2023 before increasing 17% year-to-date.
This increase in supply is primarily a result of weaker sales, as listed volume decreased only slightly year-over-year while sold volume has decreased much more significantly.
These factors suggest that at least for the short term, the market will continue to soften as competition between dealers and increasing selection of inventory available to consumers will continue to push prices down.
The Best and Worst Performing Collections in May
Most collections that have seen significant changes in value on a monthly basis are at three-digit price points and therefore do not significantly impact or represent the state of the market.
The Best Value-for-Money Steel Daytona
There are now four modern generation luxury replica Rolex Daytona reference watches in steel to pick from: the current production ref. 126500, its ceramic bezel predecessor ref. 116500, the last steel bezel ref. 116520 and the Zenith movement ref. 16520.