We would like to summarize the events that took place in the luxury watch resale market in January 2023, Which began with news of a Rolex price increase.

Lower-than-expected increase rate
However…

Following 2022, The Rolex price increase continued on January 1, 2023. Compared to 2022, The increase was relatively small, So this price hike is considered reasonable. At the same time, Unlike previous years, The impact on the market was not significant. In 2022, An increase in retail prices led to a sharp rise in the secondary market, But this year the atmosphere is quite different.

A few points to note are that the Submariner Bluesy Ref. 126613 and Sky-Dweller Ref. 326934 have entered the era of a 20 million won retail price. In addition, The gold model Submariner Ref. 126618 has exceeded a retail price of 50 million won.

Submariner Date 126613LN

41mm, Black, Oyster

Submariner Date 126613LB

41mm, Royal Blue, Oyster

Submariner Date 126618LB

41mm, Royal Blue, Oyster

Submariner Date 126618LN

41mm, Black, Oyster

Sky-Dweller 326934

42mm, Bright Blue, Oyster

Price decline or stabilization

The current prices of Rolex models sold at official boutiques have recorded a significant drop compared to last year. As a result, The number of listings in the online market has also increased considerably. Compared to last month, The number of listings has increased by about 30 percent. Since November 2022, Prices in the secondary market have been stabilizing, And many models with high turnover rates seem to have entered a period of price stability.

However, attention should be paid to discontinued models.
Although these models could not avoid a decline in secondary market prices, It is interesting to note that listings are being sold out as soon as they appear. ‘Discontinued = no supply’ means that if demand revives even slightly, There is always the possibility of a price increase. At the current pace, Just as the Submariner Ref. 16610LN, Which was once common, Is now hard to find in Korea, It is expected that the Submariner 116610LN will also become difficult to purchase soon. Most popular discontinued models will show the same trend.

Submariner Date 16610LN

40mm, Black, Oyster

Submariner Date 116610LN

40mm, Black, Oyster

Submariner Date 116610LV

40mm, Green, Oyster

2022 VS 2023
January Price Comparison

Source: VIVER Index

Finally, Let us quickly review the main features of secondary market prices for major models compared to January last year.

∙ Daytona Ref.116500LN (White Dial)
The Daytona, Which led the market with a high premium, Is now experiencing a significant decline after a strong upward trend.

∙ Sky-Dweller Ref.326934
The Sky-Dweller, Which also had a high premium like the Daytona, Has also seen a considerable drop. However, Compared to the retail price, It is still nearly 10 million won higher.

∙ Submariner Ref.126610LN
The Ref. 126610LN, Which is used as an indicator when examining Rolex sales trends, Is showing a relatively stable trend due to its high demand.

Daytona 116500LN

40mm, White, Oyster

Daytona 116500LN

40mm, Black, Oyster

Sky-Dweller 326934

42mm, Bright Blue, Jubilee

Submariner Date 126610LN

41mm, Black, Oyster

To sell or buy a watch at the right time, It is important to consistently monitor market price trends. VIVER will continue to publish reports to provide valuable insights for your watch journey. We appreciate your interest and support.