Prices for the most sought-after used watch models from top Swiss brands Rolex, Patek Philippe and Audemars Piguet fell again in 2024, hitting fresh three-year lows.

Preowned Rolex, Patek Philippe, and Audemars Piguet watch prices fell to a three-year low in 2024, data from the Bloomberg Subdial Watch Index says.

Another popular Rolex reference, the Daytona, went from $15,100 USD in 2024 to $15,500 USD for its steel and Oyster bracelet option — a noticeable increase of $400 USD (around 2.6%). A similar change is also reflected in the UK market, with the same reference now retailing at £13,600 GBP, which is 3% more than its £13,200 GBP price tag in 2024.

And it wasn't just a few days ago that Rolex turned around and upped its prices. And we talk to you about this. And yet we've got the second hand market, the U.S. market falling. Can you kind of put these two stories together for me?

Rolex SA, the largest luxury Swiss watch brand, increased prices on some popular models due to surging gold values in 2024. The Geneva-based company raised prices up to 8% on precious metal models and up to 1.