Watch Prices Still FALLING?? - Watch Market Update Rolex, AP, Patek, Richard Mille!

It's safe to say this is not the market correction that we expected. I'm going to share what I am see in the market front.
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I’m Watch Eric and thank you for tuning in. In this video I will be discussing the current state of the watch market. It has been about 10 weeks since I last did a video on this topic; however, the last one was more focused more on the prices of Rolex where today I will be covering others. That being said I want to be quite honest with you this is not the market correction that we were expecting. Maybe the delayed effect has not arrived yet and we are not feeling the brute of it yet, but as of now in the beginning of the Summer of 2020 I have not seen the watch prices plummet. What we have actually seen is the complete opposite. Prices are actually now rising again. In the first couple of weeks of this global pandemic we did see some panic selling from both dealers and privates. Keep in mind that I can only speak based on what I am seeing here in the US. I have many viewers in other countries and the situation may be different over there, but as of now here I have not seen a landslide in prices and prices are holding. Prices had decreased about $2,000-$3,000 and now we are seeing that they are right back up.

Rolex
The demand for steel Rolex continues and the prices are slightly rising. Watches like the SkyDweller in steel with the blue dial are almost impossible to locate where I once thought we would see an influx of merchandise in the pre-owned market. If you shop around you can see that the prices are right back up to where they were.

Patek Philippe
This brand never ceases to amaze me on how their demand is so high. Mostly because the clients for these types of watches can clearly afford them. It’s not like the person that is buying a 5980 in steel is saving their lunch money to buy these watches. The demand is high! It’s crazy because initially there was a large dip in the prices of the Patek 5980/1R rose gold from $150k down to $120k. I was hoping that this would be my chance to buy one again for myself. Instead of there being a slide, the prices rose back up and now we are back in the $150k range again. We are going to really have to wait and see what will happen, but as of now Patek is holding strong.

Audemars Piguet
AP is one of my favorite brands. AP has followed suit of Rolex and Patek and is also holding strong.
One watch I would like to point out is the AP Royal Oak Chrono in 41mm rose gold was hard to locate before this crisis and continues to be very hard to source. That was a model that I expected perhaps to be more available in the preowned market during this crisis; however, demand continues to be high with a shortage in supply within both the new and pre-owned market. Prices are holding strong and I still have not seen anyone selling a Royal Oak cheap. The ones that do seem slow is the AP Concept Tourbillion, but then again they've been slow since last year. Maybe it’s that the watches do have a larger case and trends are moving away from that. I still love those models and still love the brand.

Richard Mille
I was really worried of what would happen with the RM during this situation. Nothing has happened! Prices are still the same. The people that buy these types of watches just want them and can obviously afford it. RM's are very interesting and unique pieces. Stock remains very low, but the demands continues to grow everyday. Many people are just bothered by the fact that they can not simply walk into a Richard Mille boutique and just buy them. I expected at least a dip in price, but as of now in the middle of June of 2020 prices are still strong.

The problem may be that since the factories are closed and not shipping new watches and the retail boutiques are closed. This may be adding to the already growing problem of increasing demand and low low supply. It will be interesting to see what happens in the next 6 months and I will be keeping an eye out for any significant changes in the market to share with you.

Thank You for watching!

Comment below what you have been seeing in the luxury watch market.

Another thing I would like to point out is that as many as you may already know I have recently started my own business. If you are looking to buy or sell a watch, contact me directly with the link below or through my Instagram @watch.eric

Hosted By: Eric Rivera

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Видео Watch Prices Still FALLING?? - Watch Market Update Rolex, AP, Patek, Richard Mille! канала Watch Eric