Luxury watch brands are consecutively raising their prices and consumers are now meticulously researching market value even when purchasing dress watches. In recent years sports watches have been extremely popular but there are still many watch enthusiasts who pursue traditional timepieces.
Let us take a look at how classic watches performed in the resale market during the first half of the year.

Main Classic Rolex Models

Classic models show significant price volatility depending on dial color or bezel style. Therefore you should refer to the overall trend through some popular models but it is clear that you need to check the details according to the specific characteristics.

Based on unworn market price / ⓒ VIVER Index

Rolex Sky-Dweller

Sky-Dweller is the line that boasts the most complex complications among Rolex models. Due to its grand 42mm case size and sporty appearance it is often mistaken as a professional line but surprisingly Rolex classifies it as a classic line.

Rolex Sky-dweller 326934ⓒ Monochrome

Sky-Dweller
Ref. 326934 (Blue Jubilee)
6.7% ▲

Although it was replaced with a new reference at Watches and Wonders in March this year, It is still too early to analyze the market price accurately due to the lack of transaction volume for the new lineup. The previous Sky-Dweller Ref. 326934 has been discontinued but demand in the resale market remains strong. The best-selling blue dial version of Ref. 326934 has increased by 6.7% compared to January. However since the new Ref. 336934 lineup with a new movement also features a blue dial with almost the same appearance, The price of the previous lineup may decrease when the next generation enters the resale market. Still the premium for the blue dial and Jubilee combination is expected to be maintained for some time.

Sky-Dweller 326934

42mm bright blue Jubilee

Sky-Dweller 336934

42mm bright blue Jubilee

Rolex Datejust

As mentioned earlier the Datejust which represents the classic line of Rolex also boasts a significant premium in some combinations. In particular the fluted bezel and Jubilee bracelet combination is highly preferred due to its heritage.

Rolex Datejust 126334 ⓒ Watchclub

Datejust 41
Ref. 126334 (Blue Jubilee)
0% ▲

The Datejust with a cool blue dial closely resembles the Sky-Dweller and serves as an excellent alternative or even more. Despite the high premium it is also the best-selling model traded most quickly on VIVER.
Among the hundreds of Datejust varieties this is one of the most popular products but the price increase rate remains at 0%. This is because the model had already recovered its price at the beginning of January when other Rolex watches were experiencing a sharp decline. Until March this year there was frequent volatility with a wide resale price range of 16 to 19 million KRW but since April it has maintained a resale price of over 18.5 million KRW. The high premium compared to the retail price is expected to continue for the time being.

Datejust 41 126334

41mm bright blue Jubilee

Rolex Datejust 126233 ⓒ Watchclub

Datejust 36
Ref. 126233 (Champagne Bar Index Jubilee)
6.1% ▲

The combination of yellow gold Rolesor Jubilee bracelet and the soft 'champagne' dial is the most timeless Datejust model. It has long been a popular choice as a wedding watch in Korea so for many people this is the first model that comes to mind when thinking of 'Datejust'.
Thanks to this steady demand the resale market performance of the champagne dial Datejust is highly regarded. Even at the beginning of the year when the luxury resale market was sluggish many models managed to maintain their prices. The 36mm bar index version is performing so well that it is even commanding higher prices than the peak in early 2022. The secret to its popularity is the case size that appeals to a wide range of consumers.

Rolex Day-Date

The Day-Date 40 Olive Green released to commemorate the 60th anniversary of the Day-Date has already been on the market for seven years but it remains a highly sought-after dream watch.

Rolex Daydate 228235 ⓒ Monochrome

Day-Date 40
Ref. 228235 (Olive Green)
- 7.9% ▼

The Day-Date is made only in gold and has a high entry barrier due to its limited production but it commands a premium in the resale market. The rose gold version with an olive green dial once traded for over 100 million KRW in the resale market. At the beginning of this year the average price dropped noticeably and now the average price is in the 70 million KRW range. Although the premium remains high compared to the retail price in the low 50 million KRW range many enthusiasts may feel that they are now one step closer to their dream watch.

Day-Date 40 228235

40mm olive green/Roman President

Day-Date 40 228239

40mm olive green/Roman President

Rolex Oyster Perpetual

For beginners for fashion and sometimes even as an asset the Oyster Perpetual serves various purposes. All current collection models are sold for under 9 million KRW at retail and most models have a premium close to the retail price. Since January this year many models have remained flat but of course there are popular items whose prices have steadily increased.
The key factor determining the popularity of the Oyster Perpetual is color. (VIVER has provided a detailed color guide by size so please refer to it! Oyster Perpetual Perfect Guide) Bright lacquer dials are especially popular.

Rolex Oyster Perpetual 124300 ⓒ Watchclub

Oyster Perpetual 41
Ref. 124300 (Green Lacquer)
9.2% ▲

Green is a color that commands a strong premium even in the Oyster Perpetual collection. During the first half of the year the premium has remained at 45 to 60% above retail price proving its value as a tangible asset.
There are even more vivid coral red and yellow lacquer dials but these colors have already been discontinued so transaction volume is low and it is difficult to determine an accurate market price. The discontinued Turquoise Blue dial in 41mm commands the highest premium (as much as 200%) but is not actively traded. Discontinued watches can only be purchased in the resale market and due to limited supply more consumers prefer the relatively accessible green dial.

Oyster Perpetual 41 124300

41mm green Oyster

Oyster Perpetual 41 124300

41mm turquoise blue Oyster

Rolex Oyster Perpetual 126000 ⓒ Subdial

Oyster Perpetual 36
Ref. 126000 (Blue Sunray)
11.4% ▲

Blue is a universal dial color that is both classic and adds personality. Among sunray dials in men's sizes it commands the highest premium and prices continue to rise.

Oyster Perpetual 36 126000

36mm bright blue Oyster

From left Ref. 277200 Ref. 276200 ⓒ Bettyroad

Oyster Perpetual 31
Ref. 277200 (Pink)
9.3% ▲
Oyster Perpetual 28
Ref. 276200 (Pink)
11.6% ▲

Among sunray dials that are not blue there is one color with outstanding market value: the pink dial. Pink is available in 28 31 and 34 sizes and prices have continued to rise from the beginning to the end of the first half. While the vivid lacquer dials stimulate collectors' desire to collect the elegant pink is in high demand for actual wear which is believed to be the reason for the price increase.

Oyster Perpetual 31 277200

31mm pink Oyster

Oyster Perpetual 28 276200

28mm pink Oyster

Cartier Tank Must

With Cartier now available on VIVER we are pleased to share price information for classic watch lineups. The rectangular case and precisely arranged Roman numerals have made the Cartier Tank a byword for classic watches that needs no further explanation.

Based on unworn market price / ⓒ VIVER Index

Even among rectangular models the 'Tank Must' is the most beloved in the Tank collection. Many consumers seek the Tank Must as an entry-level or wedding watch so it is often in short supply in the retail market.

Cartier Tank Must

Tank Must (Stainless Steel)
Small 12.7% ▲
Large 15% ▲

Especially the small and large stainless steel models which are in highest demand are among the few quartz watches that command a premium. The average price for these models has risen significantly. This is believed to be due to Cartier's price increase in April coinciding with the wedding season. While a rise of over 12% may seem burdensome the resale price is not a high premium in absolute terms. In particular the large size model is almost at retail price.

Tank Must LM WSTA0052

33.7mm x 25.5mm silver

Tank Must SM WSTA0051

29.5mm x 22mm silver

Cartier Tank Must

Tank Must (Leather)
Small 0% ▲
Large 1.2% ▲

There was no price increase for the leather strap models due to retail price. Of course resale prices rose along with the steel versions during the wedding season but by the end of the first half they returned to levels similar to January. For enthusiasts or prospective brides and grooms who prefer the traditional and classic Tank Must the resale market is an attractive option at this time.

Tank Must LM WSTA0041

33.7mm x 25.5mm silver

Tank Must SM WSTA0042

29.5mm x 22mm silver

Looking Back on the Dynamic First Half of 2023…

If you wish to purchase or already own a luxury watch you cannot help but be interested in market prices. Users who recognize the value of tangible assets can determine the right timing for transactions by checking the value of their watches. However simply selecting a specific watch for investment is not the answer. The common goal for both VIVER and users is to enjoy the watch lifestyle in a healthy way and create a transparent trading environment. We will continue to strive to deliver even more accurate and professional price reports in the future.