With some exceptions, prices in the pre-owned luxury watch market are generally continuing to fall following unprecedented growth following COVID-19 supply issues. With reduced demand thanks to rising interest rates, the cost of living crisis, economic uncertainty and an increase in supply, the resulting impact has been the shortening of waiting lists for particularly sought-after watches and mass availability of less popular variants.
Models that commanded astronomical values only a couple of years ago are now back down to Earth, creating opportunity for discerning investors looking to build a collection that will appreciate in value in the long term. Diamond Watches London‘s Danny Shahid, whose boutique is in Mayfair’s Burlington Arcade, explores four investable watches which have seen a significant price reduction since 2019, making them attractive options for savvy collectors:
1. Rolex Daytona ref. 116508 in 18kt Yellow Gold with Meteorite Dial
Was: £150,000
Now: £85,000
The iconic Rolex Daytona ref. 116508 was one of the most sought-after watches on the market when it debuted at the height of the boom in 2021. Featuring a striking Meteorite dial and crafted in luxurious 18kt yellow gold, this variant symbolised both the technical prowess and aesthetic brilliance that had catapulted Rolex to watchmaking stardom.
The considerable price reduction of £65,000 reflects broader market trends, while underscoring the continued desirability of the Daytona. Where plenty of other precious metal watches have tanked below their MSRPs, the now discontinued ref. 116508 meteorite still stands at a relatively strong valuation.
2. Audemars Piguet Royal Oak ref. 15400ST
Was: £70,000
Now: £25,000
Setting the standard for luxury sports watches, the Audemars Piguet Royal Oak ref. 15400ST is known for its distinctive octagonal bezel, integrated bracelet and stunning dial. Now available at a jaw-dropping 65% discount compared with its 2019 price, it’s hard to imagine the value staying low for long because of the Royal Oak’s legendary status since launching in 1972.
Its classic design, combined with Audemars Piguet’s prestige and craftsmanship, ensures this Royal Oak reference remains a solid choice for those looking to invest in a piece that will likely regain value as market conditions stabilize and improve.
3. Patek Philippe Nautilus ref. 5711 Green Dial
Was: £650,000
Now: £200,000
One of the watch market’s most talked-about models when it debuted in 2021 during the ref. 5711’s last year in production, the Patek Philippe Nautilus ref. 5711-014 was known for its distinctive olive green dial and planned discontinuation in 2022. Thus it became the hottest watch imaginable, with collectors across the globe scrambling to get their hands on this scarce commodity.
Its current pricing presents a ripe investment opportunity for the collector who’s willing to test whether this model can return to the frightening heights it once reached.
4. Rolex Submariner Hulk ref. 116610LV
Previous Price: £25,000
Current Price: £15,000
The Rolex Submariner was one of the market’s most hyped watches, with the ‘Hulk’ ref. 116610LV standing out from the crowd. Boasting a vibrant green bezel and dial, this variant has long been a favourite among both enthusiasts and investors.
Despite its recent price reduction, the Hulk remains an iconic piece within the Rolex lineup. Its distinctive colour scheme, discontinued status, robust construction and timelessness make it a strong candidate for long-term investment, should demand for sports watches begin to climb once more.
Danny Shahid’s flagship DWL shop is in Mayfair’s exclusive Burlington Arcade, the home of luxury boutiques. DWL has more than 16 years’ experience in sourcing rare and big name watches, some of which are subject to lengthy waiting lists elsewhere. Staff are often asked for their expert opinion by fellow jewellers and retailers. The luxury watch experts’ stock is constantly changing but they have immediate access to more than one hundred exquisite models, most worth between £10,000 and £40,000 but some with a value of up to £1,000,000.