[JRell]

Originally Posted by colonelpurple

1. The watch market is crashing, Rolex used prices are declining. Most Rolex models used sell below retail.
2. New Rolexes are becoming more plentiful.

Is Rolex a status symbol ? yes, but so is cartier, IWC, etc. Anything over £1000 is a status symbol.

The point is that Rolex is subject to the same supply and demand as any other brand. Rolex always plays the game of supplying less to the market then it demands, thus keeping prices up. But this is artificial and not to be relied on.

Its like diamonds. De Beers used to control supply, and just smash excess diamonds into industrial diamonds. Now, due to competition, particularly artificial diamonds, which young people are really going for with engagements and marriages, the used price of diamonds has completely crashed.

The other thing, which is worrying for Rolex, is that the constant price rises, well over inflation and materials, have made many people weary. The amount of gold models for example around london. All ADs have loads of them unsold. I know some very rich people, and I have a friend who wants a day-date, but even though he can easily afford it, he is not buying, as his business brain is just telling him its a con. He is now looking on the used market.

Out of the other watches you mentioned only Rolex is the universally understood watch status symbol. Maybe some know Cartier, but I didn’t even know IWC until I got into watches.