Luxury Watch Prices: Dropping Demand and Increased Supply

Luxury watch prices have been steadily dropping despite the growing interest and demand for luxury watches. Bloomberg's Subdile platform tracks secondhand prices and has reported a 48% decrease in prices of Rolex and Patek Philippe watches since their peak in April. While there is an increase in demand, there is an even higher increase in the supply of watches, with collectors selling their collections into the market. The secondhand market for watches is significant, accounting for over half of all watch sales. This drop in prices reflects the oversupply of watches and the time it takes for them to sell, with 5% more watches on the market since August and an 8% increase in the time it takes for them to sell.