Rolex Models That Are LOSING Value - Watch Market Update May 2024

0:14 The wider market
2:00 Steel & Gold Submariner
2:26 Rootbeer
2:41 Guinness
3:01 Sprite & Pepsi
3:32 Day-Date
4:13 Explorer
4:43 Explorer II
5:06 Datejust 41
5:52 Submariner
6:20 GMT-Master II
6:54 Oyster Perpetual
7:51 Daytona
Last month, new Rolex models were released and some were discontinued, impacting the market prices of select pieces.
Peak prices in the market happened around March of 2022. At this point many Rolex models were very difficult to obtain at retail price from Rolex authorised dealers. High demand and low supply pushed up market prices to levels far above their original retail price.
Since then, market prices have been slowly returning to pre-pandemic levels. Meanwhile, Rolex retail prices from authorised dealers have been rising year on year. The gap between retail and market price has been gradually closing and there are now less models that trade above retail.
We are seeing some macro trends across the Rolex catalogue. The majority of full gold pieces available at a notable discount. Steel and gold also tends to be available under list price. Steel professional models on the whole are sitting above retail price depending on individual popularity.
Steel and gold Submariners can be found at a discount. The blue still outperforms the black by around £1,000 but both can be found under the £13,750 list price. We’re seeing two tone watches available for the same price or less than their steel counterparts across multiple ranges.
The Rootbeer 126711CHNR has been one of the best sellers at Watchtrader but we’re now seeing them very close to the list price of £14,300. If you don’t want to wait on a list, you can pick these up for a touch over retail in the market. It’s a similar story with the Guinness GMT-Master II 126713GRNR.
The Sprite and the Pepsi were few and far between in the market before Watches and Wonders, particularly the pepsi. Both are still in production and as a result there are now more in the market from people who don’t want to hold on until 2025. This has resulted in a value reduction of around £1-2k depending on the bracelet and age.
The rose gold olive dial Day-Date 40 didn’t get discontinued and prices have softened. The market price is closing in on the retail price so it’s one to keep an eye on if you’re looking to buy this watch this year. The model that we get offered most and have the most demand for is the yellow gold green dial. Again, the price has softened slightly in the market to around £45k, still over the list price of £33,800.
The Explorer is edging closer to list price. At Watchtrader we tend to have more people looking to buy and sell the 40mm model. Now, I know that many enthusiasts prefer the 36mm and I agree that the Explorer looks great in that size but in general the market seems to favour the larger size.
The Explorer II is a watch that a lot of you guys have been buying from the AD’s, we’re seeing a lot of them being offered to us and you can now buy them in the market at retail price.
The mint and wimbledon Datejust 41 continue to be the most sought after dials that you guys are looking to buy and this is reflected in that we’re offered these dials most frequently in brand new watches. We’ve sold a number of two tone models under list price. People looking for steel and gold can save money buying on the market as opposed to brand new.
We buy and sell the date model Submariner in greater numbers than the no date version. I personally prefer the symmetrical dial of the Submariner but the buyers out there prefer the Submariner Date. The demand for the Starbucks and lesser supply results in the highest market price for a steel Sub.
The BLNR, Batman or Batgirl are both holding strong at around £13-14k and continue to be one of the most popular watches for us to buy and sell. Interestingly, since the announcement of the steel GRNR which, at this point, the watch community has named the Bruce Wayne, we’ve seen a peak in interest in the older full black bezel GMT, the 116710LN.
The Oyster Perpetual conversion revolves around the green dial and the celebration dial. The green tends to be purchased by people who have multiple Rolex watches and are looking for something a little bit different and less serious with a pop of colour for their rotation. The celebration on the other hand is a watch that has very little demand from buyers in the market.
The steel Daytona, 126 reference models are strong with the white selling around £29k and the black around £25k. This brings us to one of the precious metal expectations in that oysterflex Daytona models are holding value better than the majority of precious metal Rolex pieces. The best ones in terms of demand here at Watchtrader are the white gold ghost, and yellow gold Pikachu.

[@davideabati740]

Great update video! Do you think a Datejust fluted bezel jubilee mint green dial but 36 mm would hold value as a 41 mm one? Would the resale potential be lower if it's 36 mm? Thanks for your point of view!

[@Watchtrader]

The 41 is in higher demand than the 36mm. This means, you will pay less to buy it but it will also be worth less to sell. This is of course, unless market preferences change over time to favour 36mm. Buy the size that suits your wrist and you will enjoy. Value retention will probably be relatively similar but shouldn’t be your main consideration between the two if you’re buying to wear. Hope that helps.

[@dieselgoinham]

Buy the 36, only so many rappers to buy all the 41s

[@Greggieboy76]

'H' - always a class act. Brilliant video mate, hope you are well!!

[@Watchtrader]

Thanks a lot mate. Hope all is good with you too!

[@bobbydazzler1780]

All fair enough but if you’re purchasing direct from an AD you’re getting peace of mind the watch is legit, unpolished, intact with genuine parts, comes with a five year warranty and a recommended ten year service interval. If you buy for the medium to long term and keep your watch in good condition you can at least imagine getting a good percentage of your cash back, if not a small increment as Rolex keep putting their prices up. So buy for keeps guys and you might get a nice surprise further down the line when you finally part with the piece. If making a profit is all that concerns you invest your money elsewhere. This is a buyers market get down to your AD as pieces are coming through to enthusiasts as the flippers move on to something else.

[@dannysimenauer5745]

The issue as I see it is the AD's are still playing their Pandemic Games, and essentially treating their stores more like museums. Exhibition only pieces on display, yet inventory kept in the safe to create the illusion of a supply shortage. I doubt the AD could pay their expensive rent if they couldn't sell to customers. So they must he getting decent inventory. At some point if Rolex and the ADs don't include new customers, then demand will shift to other brands. I wonder if the AD remembers how to sell to new customers rather then just take orders.

[@bobbydazzler1780]

@@dannysimenauer5745 the latest trend is that ADs are releasing 30K gold pieces to anyone who walks through the door with 30K to spend. Two tone or steel are Exhibition Only. Or there’s their CPO scheme. Basically Rolex are moving towards Patek precious metal pieces and leaving Tudor to pick up the void. And they are trying to take on the grey dealers with their CPO scheme. They want their cake and eat it.

[@nigeldorman414]

But the problem is being able to buy one from an AD, it’s still almost impossible

[@bobbydazzler1780]

@@nigeldorman414 play the long game and stick with it. It involves a wait in the most part but you can also get lucky on the day. Patience is key. Keep your powder dry.

[@KrolKaz]

They're not in the safe, they're sold to 3rd parties and profits split on the grey market. It makes no sense for an AD to sell a watch for msrp when they can get over msrp on the grey market. It is what it is.

[@AndrewBrookess]

These videos are really interesting, would be great to have one of these every few months

[@Watchtrader]

Appreciate the feedback!

[@simonmorris1626]

Informative update on the Rolex Market for the secondary market.

[@Watchtrader]

Thank you Simon!

[@hemtet5500]

Ha I’ve been saying for ages steel with gold should never be sold, for me putting those two metals together somehow cheapens the look of both of them.

[@TimG--]

Nice content mate 🥃

[@Watchtrader]

Thanks Tim!

[@angelsv8416]

Great video as a watch collector I appreciate the information I want to ask you where did you get the strap for your moonswatch? Is really nice

[@Watchtrader]

I’m glad you enjoyed it. It’s from Geckota.

[@user-ck3wh9qi6c]

So impressed nice update ❤

[@Watchtrader]

Thanks for tuning in!

[@DonAl9114]

Thank you. Very interesting

[@Watchtrader]

Glad you enjoyed it

[@raaraa-1]

Top video very informative thank you

[@Watchtrader]

Glad it was interesting

[@johnlau1391]

What do you think about the Rootbeer? Thanks!

[@Watchtrader]

The full rose gold model is one of the best looking professional models but the market price is below the retail price. The steel and rose gold one is mentioned in this video. Thanks for watching

[@gwills9337]

These watches are like cars - they aren’t worth what they’re being sold for and the difference is realized the moment you drive it off the lot

[@KrolKaz]

Its.. brown? Not a great color for a watch imo

[@MasterOfNone88]

I'm so glad dual tone Rolexes are less desirable. Because those are my favorite.

[@leonwilliams3221]

I just bought a 2020 Rolex GMT the ‘Pepsi’ colour I absolutely love it, fulfilled a a dream to own a Rolex before i turned 40… will never sell it.

[@aryamansinghi3314]

How’s the yachtmaster 40 blue dial

[@Watchtrader]

Not as strong as the slate dial in the market. The colour is a matter of preference.

[@Mach.87]

This is completely imposed by KZbin channels. The blue dial always wins. Blue dial AP or Blue dial Patek or Blue dial Datejust. Now, are we talking about the gray dials of these watches or the blue ones? :))

[@cm4sq90]

Great content as usual but was wating for update on Yacht Master and Air King as those are the two I'm looking for. Also the sea dweller and deepsea as I own both. Please review the market for them if you have time!

[@Watchtrader]

Noted for next time, thanks for watching!

[@Bdigital9482]

Why wouldn’t you just do that on your own? Considering you already own 2 and are currently looking into another purchase, or you just had to say something.

[@jeffrygosal6860]

Great update. Just purchased 2 tone jubilee DJ 36mm, fluted with Wimbledon dial from AD. Your thoughts on it, if this is a good buy? Walked in thinking to want the 40mm, but when trying it at AD, preferred the 36mm. Also have the 2011 GMT-II. Wishing for Daytona Panda. Thanks a million!

[@Watchtrader]

I’m a fan of the 36mm however the 41mm is more popular in the market. Wear and enjoy it. Fingers crossed for a Panda!

[@pipoune91]

What would you choose between a Datejust 36 (smooth, jubilee, silver dial) and Explorer 36? Thanks

[@Watchtrader]

We have a video comparing these two models on the channel. Hope that provides some insight.

[@user-hj9tz9hr1n]

Explorer. It‘s such a versatile watch. At the beginning you might consider it boring but you‘ll later love it - it‘s so aesthetically pleasing because it‘s symmetrical and it can be worn to a suit and a sports outfit just the same

[@Andy-wp6lj]

Great update! Pls do this once a quarter 👏🏾👏🏾👏🏾👏🏾👏🏾🙏🏾

[@cjsmith8319]

Quality content!

[@vforvictor7575]

What is the best price for a 2024 SS sub date .

[@wayneguy6043]

List price

[@Jacol-wk8im]

Hi, are you saying that Rolex AD’s are selling the TT Submariner blue face under retail price and if so how much under retail?

[@Watchtrader]

Hi, I’m not aware of any discounts at the AD’s. You can pick them up on the market under retail.

[@David-yd6ur]

Ha! You wish 😆

[@davidbrown9947]

@@Watchtrader like for like as in brand new...

[@UprightOar]

Rolex AD don’t sell new watches under retail, never.

[@cleverusernamecl5532]

@@UprightOar Used to be very common.

[@ahmeddar7854]

It would be great if you could do a review of a x5 30d

[@notalkguitarampplug-insrev784]

I find the Pepsi hard to get in mint condition under 22k in Europe… hope it will go back to 7-8k as it was before the huge speculation era 😅

[@tigweldinggeordie9179]

Very knowledgeable, keep up the good work

[@Watchtrader]

Thanks for watching, appreciate it

[@jopsonsjewellers]

Great vid Harry

[@Watchtrader]

Appreciate it!

[@ALEXANDER_MARIO_S.]

Great video. Very informative! I recently bought an Rolex 116528 in excellent condition with a steep discount from list price...not as an investment, just the love for a watch

[@cleanwave4336]

2010 GMT - top function minimum style

[@DMac-tn8ho]

How are Yachtmaster 2 trending ?

[@user-fv8rd2zl6y]

I enjoyed your content, due to it was short and to the point !!1

[@geeman4041]

“On the market” - yes the grey market as it is known, currently tanking

[@drax4901]

Not really. The market will still be there, just not the 30% margins they were making before in the pandemic.

[@carlmoulton5719]

They are traders, they were never making 30% because they would have been paying more the watches they were buying in. When the rootbeer was selling for 20-25k they were not buying it at retail. Why would anybody go on a wait list to sell a new watch at retail

[@Bdigital9482]

Tanking? That’s a drastic statement. Eliminate the pandemic years as any company should at this point, considering my landscaping business grew to record highs, while we originally thought it would be our death. Point being look at history.

[@kahuhipajae4088]

Great review, straight to the point. Bonus, liked how you properly described the submariner and submariner date.

[@Igbehead12]

Stick to the classic timepieces and you will be just fine.

[@meetseth3]

does pepsi count

[@beerkegaard]

@@meetseth3 paying premium for colors seems silly to me… just buy cheapest gmt

[@donjohnson4368]

Please show the list prices as you go through the list

[@disneytakeshugedix7463]

Actually on the 17th May 2024 I brought my son to the Rolex Daimaru Store in Tokyo Station Japan 🇯🇵 to buy a new Rolex watch but after waiting for more than 30 minutes in the line, we were told rudely that there were no Rolex watches sold there ! It was a huge disappointment for my son and it made me want to give up applying for a Rolex dealership in my country as well as give up on Rolex watches ! The rude behaviour of the Rolex dealer in Tokyo Station has caused my son to give up on the Rolex brand ! By the way my son is now wearing an Omega watch , we might get an Omega dealership as a small side biz in our country !.

[@alexjohnson3220]

Great work. Very honest. It would be easy for a company to say everything is on the up to generate movement.

[@Watchtrader]

Appreciate the feedback Alex

[@dukmo4216]

Very good video

[@Watchtrader]

Appreciate the feedback!

[@HePants]

great video - whats your take on the Sea Dweller Deep Sea with the James Cameron seemingly hard to find?

[@Watchtrader]

Both can be found under list price in the market. Will note this for next time, thank you

[@BobbyDazzler888]

JC is everywhere and hoarded. Dont believe the hype.

[@kozlowr32]

Where are you finding 133360 under retail? I just got one from a AD so there is hope and I love it.

[@MxRen]

what about the air king ?

[@diogogaspar2798]

Hello from brussels 😊 what you think about sea dweller 43!?

[@Watchtrader]

Hi there. With regards to the market price, it can be found at or under RRP depending on age and condition. Thanks for watching

[@DannySale01]

🎉Great ✅️ reviews 👍

[@Watchtrader]

Thank you 👍

[@AntonRB10]

Hello! Wanted to ask about where the market is at for the new reference Air King, been eyeing that watch for a while, even though I know it's not the most popular haha

[@Watchtrader]

Hi Anton, the 126900 sits slightly above RRP by around 10-15% in the market. Thanks for tuning in

[@guava876]

Have the watches with fluted motif dials gone up in value?

[@Watchtrader]

No major price action, sitting steady. Noted for the next one

[@louisphua607]

Hi is a watch that is in the 2010s suitable to buy? 😊

[@Watchtrader]

Of course, many luxury watches are designed to last many decades if not longer with proper care and maintenance.

[@user-vh7sv6nd2m]

My AD is offering me the 2024 41 steel fluted wimbledon with the jubliee bracelet...would this be a smart pickup to flip or to keep? It would be my first AD purchase that they've given me...Would appreciate feedback thanks!

[@Jon-hm2wu]

Wimbledon 41 is doing well on grey market, I would go for it if I’d get the offer

[@danielharris3180]

Always baffles me how the Bluesey is under list. I have one and it never ceases to amaze me when I look at it. Such a stunning watch.

[@KrolKaz]

Good for fans of the bluesy

[@electorofsaxony7646]

You'd be crazy to buy a Daytona on the grey market

[@ahlciks17]

Was hoping to hear about the sky dweller

[@Watchtrader]

Appreciate the feedback

[@danwillis4229]

what about the Yachmaster? :(

[@Watchtrader]

Noted for next time. Thanks for tuning in

[@danwillis4229]

@@Watchtrader nice - any thoughts on the Yachtmaster market right now?

[@Watchtrader]

Gold models as well as steel and two tone are available under RRP if you look for examples that are a few years old. Brand new 2024 pieces and popular dials such a as the slate, may command a slight premium.

[@carworld8829]

How much would you give for a pepsi 1998 with papers and box?

[@Me3iJi1n]

What about the sea dweller

[@chtiinusacroireetoser.1200]

"Nothing sells above the business price, because the AD price is fixed, amigo. So, it's RESOLD above the business price, it's not sold. You're mixing everything up again ,its ridiculous decredibility

[@user-eb3pi4tv9k]

Try finding a steel Pepsi with a jubilee bracelet….prices have not moved at all.

[@bigvic950]

I’ll sell you mine for 25k

[@arcticredpanda4598]

The jubilee bracelet looks so feminine.

[@user-eb3pi4tv9k]

@@arcticredpanda4598 on you probably

[@sotirisvramis3108]

16-17 k now and was 25-26 k 3 years ago

[@stuken8626]

more updates pls

[@Watchtrader]

Thanks for letting us know

[@ericmcdowell9745]

The words being used make me 😂

[@verynormalman]

T4YC. Straight forward, and believable.

[@Watchtrader]

Thanks for tuning in

[@WilliamInternational]

If everyone avoided grey market scalpers the prices would be back to retail because the scalper inventory would be zero.

[@NewingtonBoy]

Oyster Perpetual blue dial RRP £5,550. Watch finder UK £7,250 🤔🤔🤔 That is a massive drop in price! 🙄🙄🙄

[@franco2739]

You know the Rolex market is Fd up when you put Gold on a watch and it makes cheaper....

[@tanman7627]

I’m glad I bought Gold bullion instead 😂

[@jujujonbitcoinisplanbcrypt9618]

I love a Rolex under retail but I do love a bargain 😂

[@arcticredpanda4598]

The watches they recommend are always the ones they're trying to get rid of.

[@user-mi6pq2bl8l]

Keep waiting. I know a guy who paid 30k for a Daytona 2 years ago and now it goes for 13k lol

[@pipolebnene]

Rolex should be sold less expensive than new when used and should be available at the AD then all is good

[@Mrsdstry]

Then you won’t buy it

[@theadventuresofwolf5.77]

They will all soften people are spending money in meaningful things like traveling.

[@Madeinlondon67]

There will always be desirable and not so desirable watches in the grey market. You can judge the market by looking at the Instagram posts and stories of some grey dealers. One grey dealer who I won’t mention continually posts the same very high end watches like Rolex, AP, Patek etc and the prices are soooo high.

[@hlee2]

"its probably better to pay a small premium" - No.

[@_taxman_]

When expert jewelers who've memorized every reference need hours with a loop to spot a replica, what's the point?

[@S1ickA2K]

Wheres the skyd?

[@JackoWillMakeLives-loveu]

ugly as hell just like all other Rolex references...people buying and sticking in a safe hoping to hit it big in the future

[@Watchtrader]

Will bear that in mind for next time

[@dannysimenauer5745]

I want to get your insight into an observation I made from W&W2024, and the current market. Rolex seems to have abandoned its prime customer base that celebrated life events by buying a Rolex. Mostly solid middle class people. First, Rolex wants to chase Patek wealthy customers by producing more precious metal and jeweled pieces. Second, Rolex has increased RRP on Submariners and steel sports models above inflation. Third, Rolex seems more concerned about hiking up gray market valuations and CPO pricing as if it is their business mission statement. What are you seeing/hearing from your side of the desk?

[@LouisMorales-zx3jm]

Hold for 2025 even lower grey market prices.

[@xchazz86]

Worst time to buy. With Rolex new production in place to flood the market, worsening globa economy, bad brand reputation through shitty practices from ADs and grey martket dealers, intense comparable market competition and overall failed Rolex customer service model the prices are only heading down.

[@jimmyjames4372]

If you have this much money to burn on a watch, who cares what time it is

[@chrisdrake331]

👏🏻👏🏻👍🏻

[@littlekid9019]

Root beer still selling for 18 used to 20k new. Where can I find a root beer just above retail??

[@Watchtrader]

We have them available from £15.5-17k

[@ajmufc2415]

Got one coming at retail in a couple of weeks but seeing the price on grey market near enough as the retail price, I don’t know what to do

[@zepho100]

Buy watches because you like watches. Don’t buy hype pieces without being prepared they might go down. If you want to make money, flip stocks.

[@user-nl3yt4wt1n]

mamacoo You are so well-informed about luxury watches. You've obviously done your due diligence and the comparison to the US is very informative...because of course, I live in New York. thank you very much

[@cyberwapx]

Im not buying rolex , rolex stores are for vip persons only , they tell you , NO AVAILABLE WATCHES TO BUY , GO HOME

[@jamesmoninger1982]

Really, really tired of all the blogger hype about the Rolex "Pepsi."

[@fastpace386]

You didn't give a price for the Sprite or Pepsi? You just said they are worth a £1000 less. Enjoyed everything else!!

[@Watchtrader]

Depends on the year and the bracelet. We have a few in stock if you want to see specific pricing. Thanks for the feedback

[@chtiinusacroireetoser.1200]

My friend, you mix everything up. Cost, price, and value are three different things. The cost of the floor, the price of the bread, the value of a birthday cake you will never forgot . If you sing 'Happy Birthday' when you deliver the cake to the table, the cake has high value. If Elton john sings a song, the value is extremely high. The cost of the cake is the same and the price is the same. You mix everything up and it's ridiculous. Review everything

[@heuer03]

I hope the obsession with Rolex is finally over.

[@ArtemForYou]

I watched 3 minutes, absolutely wrong info, non of those models could be found on prices you have mentioned. Please provide any proofs

[@leonmarsh9196]

Up Jon the polish

[@adamadel6958]

I’ve 5 Rolex’s, then upgraded to Breguet, I don’t give a damn about value I buy to wear and I can tell now that Rolex is a good brand but the AD experience and the way people talk about it makes it a shit brand to have!

[@David-yd6ur]

Next time, try talking with your hands tied behind your back 😉

[@Watchtrader]

That might be a challenge!

[@David-yd6ur]

@@Watchtrader Ha! I suspect you may be right.

[@danielstehura9657]

A Rolex is like a Rotary dial Phone, it’s a stupid watch! I sold my Swiss watch collection and have a Smart APPLE Watch!

[@spamham1976]

Screw Rolex and screw their list price and there wait lists. Clean Factory , VSF factory, NEWBIG all the way. That’s what Rolex deserves for creating this mess.

[@petemorbius3936]

116520?

[@wrongbeach35]

Grey markets living within artificial bubbles for luxury items are dead in economies like the one we are about to dive into. You ain’t seen nothing yet, you’re just seeing the cracks

[@kenang83]

Fuck, why not discontinue 😢

[@gwills9337]

Imagine buying a Rolex and thinking you’re doing anything other than consuming a luxury product. These aren’t investment pieces especially when you adjust for REAL INFLATION. You’d be better off buying gold or bitcoin

[@cleverusernamecl5532]

No but you can wear one with it costing very little. Bitcoinn is so up and down it is crazy.

[@domflint1863]

Dil to the do

[@chtiinusacroireetoser.1200]

"Your ignorance of the basics of understanding economics is honestly embarrassing."

[@StanleyIpkis-nf9gn]

Once I can walk into an AD and buy a new watch, I'll get a Rolex. I'd never buy a used watch unless it was way under list. Thank you for the video.

[@shahanulhaque7086]

Rolex is full of crap if it didn't hold value just imagine all were losing money same as other brands then it's a different market then no one will pay these high prices.

[@middleearthtroll6183]

YEH on YEH Lol

[@edblair5253]

The watch market is dead

[@jima8946]

Why is he so emotional? He found the baby and immediately handed her to the child services. Where’s the emotional attachment here?

[@agill2103]

Deep sea and sea dweller?

[@Watchtrader]

Noted for next time. Thanks for tuning in

[@ahmed-A.112]

Most ugly watches ever

[@rascalap2968]

Subscribe? 9 minutes of seeing your face? No thanks…