Following the 2023 Major Sports Watch Price update published last week, Let us look back at the market prices of major classic watch models. The Rolex premium craze is not limited to sports watches. This also applies to classic watches that enjoy steady demand and widespread popularity. Let us examine what changes have occurred in the luxury watch resale market, Which has been both dynamic and at times unstable.

Datejust

The Datejust, The bestseller in the entire Rolex catalog, Currently offers over 600 combinations. The variations are so diverse that it can be confusing to choose your own timepiece, But the most popular combinations are clear. The Datejust with the iconic fluted bezel and Jubilee bracelet generally holds its value well and enjoys high demand. Among dial colors, The basic black, Gray, Blue, And green dials command higher prices. Regardless of the type of Rolesor, We have analyzed the annual price trends of Datejust models with high trading volumes on VIVER.

White Rolesor Datejust

Compared to 2022: -1.2%
Compared to January 2023: -0.7%
Resale premium: +40%
Latest VIVER transaction price: 18, 500, 000~19, 500, 000 KRW

Datejust 36 126234 / ©Time & Tide

The combination of stainless steel, Jubilee bracelet, And white gold fluted bezel is considered the most popular among Datejust models. With high versatility, This variation can be worn with both formal attire and casual outfits. For the common men's sizes of 36-41mm, The basic 'bar index' dial is in highest demand, While the diamond-set 'ten point' dial is also a popular choice. Tracking the 2023 performance of the 41mm steel + white Rolesor model as an indicator, The average price has slightly decreased compared to the beginning of the year, Which was considered a 'low point', But it still boasts a high premium. 

Datejust 41 126334 Average Price © VIVER

The most popular dial colors for the white Rolesor Datejust are blue, Mint green, And black. In the current watch market, Green is enjoying sensational popularity, Rivaling blue. Watch enthusiasts may have noticed that more and more brands are introducing green dials. The green color, Which is also symbolic of Rolex, Is already a familiar combination. The steel Datejust 'mint green' dial, First introduced in 2022, Commanded prices in the 20, 000, 000 KRW range at launch due to the new product effect, And currently maintains a premium of about 5, 000, 000 KRW, Higher than the Submariner Date. Blue, Which is the most versatile and wearable, Appears to be recovering in price. The blue dial commands a premium of around 6, 000, 000 KRW, Comparable to the Submariner 'Starbucks'. For the same combination, The 36mm version generally carries a resale premium of 4, 000, 000~5, 000, 000 KRW in the market.

Datejust 36 126234

36mm, Bright Blue, Jubilee

Datejust 41 126334

41mm, Bright Blue, Jubilee

Most Popular Dial of the Year, ‘Wimbledon’

Compared to 2022: -0.24%
Compared to January 2023: +4.8%
Resale premium: +13% 
Latest VIVER transaction price: 14, 800, 000~17, 600, 000 KRW

Datejust 41 126303 Wimbledon Dial / © Everest

Datejust 41 126234, 126233, 126231

The ‘Wimbledon’ dial of the Datejust enjoys solid demand in the domestic resale market. ‘Wimbledon’ refers to a dial style inspired by the colors of the Wimbledon Championships, For which Rolex is the official sponsor. The Roman numeral indices with green highlights on a slate dial were first introduced on the Datejust II and have since been adopted by the current Datejust 41 and 36 models.

Datejust 36 Wimbledon Average Price / © VIVER

Although yellow gold and Everose gold Rolesor models have higher sales prices, The actual premium is higher for the steel models due to the difference in retail prices. Rolesor models yield a premium of about 1, 000, 000 KRW, While the steel ‘Wimbledon’ commands a premium of about 3, 000, 000 KRW. In terms of actual sales on VIVER, More Rolesor models were sold due to the smaller price gap with retail, But the signature color of Wimbledon led to high demand. The standard 36mm size enjoyed greater popularity than the larger 41mm size.

Datejust 41 126303

41mm, Silver/Roman, Oyster

Datejust 36 126233

36mm, Slate/Roman, Jubilee

Datejust 36 126234

36mm, Slate/Roman, Jubilee

Lady-Datejust Chocolate Dial

Compared to 2022: +3.9%
Compared to January 2023: +3.9%
Resale premium: +15%
Latest VIVER transaction price: 14, 300, 000~20, 500, 000 KRW

Among the Lady-Datejust and Datejust 31 lines, Which mainly target women, The Everose Rolesor models are highly preferred. Rolex women's watches generally have lower premiums, Making them more accessible as gifts or for special occasions, And popular models are often sold within a week. Among them, The chocolate dial color of the Lady-Datejust is a highly sought-after item. 

Lady-Datejust 28 Chocolate Dial Average Price / © VIVER

The 'star diamond' and 'ten point' index types have higher demand. 'Star diamond' refers to an index type where diamonds are set on a star-shaped gold base, Currently only available on the Lady-Datejust 28, And is in high demand regardless of color. On the Lady-Datejust line, Which features smaller dials, Diamond indices offer a more balanced and glamorous appearance.

Lady-Datejust 28 279171

28mm, Chocolate/Diamond, Jubilee

Lady-Datejust 28 279171

28mm, Chocolate/Roman, Jubilee

Lady-Datejust 28 279171

28mm, Chocolate/Diamond, Jubilee

Sky-Dweller

Resale premium: +19~42%
Latest VIVER transaction price: 26, 300, 000~28, 700, 000 KRW

Sky-Dweller 336934 White, Blue, Black Dial

Although part of the classic line, The Sky-Dweller features unique complications and is highly popular among male consumers. At Watches and Wonders in March 2023, The reference was changed to Ref. 336XXX and the movement was improved. The annual resale price trend of the new Sky-Dweller, Which starts at a retail price of 20, 290, 000 KRW, Followed a similar trajectory to the previous reference.

Sky-Dweller 336934 Average Price © VIVER

The Ref. 336XXX, Which appeared in the resale market from June, Ended the year with a continued price decline, Unable to sustain the new product effect for long. The Sky-Dweller in the steel and white Rolesor (hereafter steel) combination is especially popular with the blue dial, Similar to the Datejust. Due to the ongoing price decline, The blue dial also saw a -8% drop in six months, And the 30, 000, 000 KRW resale price, Which collapsed again after 2022, Seems difficult to reach for the time being. This downward trend can be interpreted as a decrease in demand, But it is still very difficult to obtain a Sky-Dweller through boutique reservations or walk-ins. It remains a collector's timepiece with higher market value than the Submariner and GMT Master 2 Ref.126710BLNR. 

Sky-Dweller 336934

42mm, Bright Blue, Oyster

Sky-Dweller 336934

42mm, Bright Blue, Jubilee

Oyster Perpetual

Compared to 2022: -8%
Compared to January 2023: +7.1%
Resale premium: 13~52.5%
Latest VIVER transaction price: 8, 800, 000~11, 900, 000 KRW

2020 Oyster Perpetual Collection / © Revolution

The Oyster Perpetual, The most affordable retail model from Rolex, Captivates both veteran collectors and beginners with its bright and vibrant colors. Black, Silver, And blue, Which are suitable for daily wear, Have formed reasonable prices in the 8, 000, 000~9, 000, 000 KRW range.

Oyster Perpetual 36 126000 Average Price by Dial Color
/ © VIVER

As mentioned earlier, Rolex and green are a perfect match. The lacquer green dial, Which fills the entire face, Is more sought after by collectors than beginners, And has maintained a resale price above 10, 000, 000 KRW for sizes 36mm and above. Yellow and red dials have been discontinued, So while their premiums are high, There are no transactions. The green dial maintains a resale premium of over 50%.  
There is even an Oyster Perpetual that enjoyed a higher premium percentage than the Daytona, Making the term 'entry-level model' meaningless. The turquoise blue, Also known as Tiffany color Oyster Perpetual once boasted a premium of +450% and a price 5.5 times the retail during the market boom. Recently on VIVER, The 41mm Ref. 124300 traded at over three times retail at around 25, 000, 000 KRW, And the 36mm Ref. 126000 traded at over twice retail at 18, 700, 000 KRW. Although the premium has halved compared to its peak, This dial shows just how powerful the premium on discontinued colors can be.

Oyster Perpetual 36 126000

36mm, Turquoise Blue, Oyster

Oyster Perpetual 36 126000

36mm, Green, Oyster

Celebration Dial in Three Sizes / © Hodinkee

The Celebration motif that made a surprise appearance in 2023 is also entering the resale market. Those who closely follow the luxury watch resale market may have expected the resale price to easily exceed 20, 000, 000 KRW. Sizes 36mm and above are listed at a minimum of 25, 000, 000 KRW in the global market, And 41mm models sometimes command over 30, 000, 000 KRW, But prices are much lower than overseas (even lower than the resale price in Japan, Which has experienced a record depreciation of the yen). In Korea, The 31mm model is sold for under 20, 000, 000 KRW.

Oyster Perpetual 31 277200

31mm, Turquoise Blue/Celebration Motif, Oyster

BONUS

Cartier Tank Must

Even those unfamiliar with luxury watches are likely to recognize Cartier's iconic design. The rectangular Tank collection is the most representative. The Tank Must is a luxury watch with high prestige and fame, Yet its relatively affordable retail price ensures constant demand. Especially during the wedding season, It becomes a watch that is both everywhere and nowhere, As it is hard to find. For those pressed for time, The resale market offered the opportunity to purchase an unworn Tank Must at a reasonable price.

Tank Must LM WSTA0041 / © Cartier

The Cartier Tank, Which began trading on VIVER this year, Also boasts steady sales. The small and large sizes in the 4, 000, 000~5, 000, 000 KRW range could be purchased in the resale market without a premium. There were even cases where they were sold below retail price. The steel collection of the Tank Must saw an average retail price increase of 10.65% in November, But the resale price only rose in line with the new retail price, And no additional premium was applied to burden prospective brides and grooms. 

Tank Must SM WSTA0051

29.5mm x 22mm, Silver

Tank Must SM WSTA0042

29.5mm x 22mm, Silver

We have looked back on how the classic watch market has changed over the past year in 2023. I dare say that the popularity of the hot models in the resale market, Which once reached a major peak, Will not cool down easily.