2024 Watch Resale Trends: Rolex and Patek Philippe Shine, Others Fade

‍

‍

Exclusive reporter Lana Herzog 

‍

_{In an exclusive interview, Hossien Mahallati, a renowned luxury watch dealer, shares his insights into the current trends in the luxury watch market, highlighting the resilience and desirability of Rolex and Patek Philippe watches amid a shifting landscape.}

‍

‍

Rolex and Patek Philippe Lead the Market

_{Rolex continues to dominate the luxury watch market with its enduring popularity and strong resale value. Hossien explains that models like the Rolex Submariner maintain a steady premium of 10-15% over retail prices, while rarer pieces like the Platinum Daytona can command premiums up to 150% due to their discontinuation and the high demand on waiting lists.}

‍

‍

_{Patek Philippe also remains a top choice for collectors. Iconic models such as the Nautilus 5711 and the more exclusive 6104 Celestial Grand Complication have seen significant fluctuations in value, with some pieces priced as high as $650,000 during peak periods. Currently, these watches offer more accessible prices, presenting opportunities for savvy investors to acquire these high-end timepieces.}

‍

The Decline of Certain Brands

_{Despite their historical significance, brands like Hublot and Franck Muller are experiencing a decline in resale value. Hossien notes that while these watches once enjoyed great popularity, they have struggled to maintain their status in today's market. Franck Muller, once the pinnacle of luxury watches, is now largely forgotten by collectors, with very little resale demand.‍}

_‍
The Unique Appeal of Richard Mille

_{Richard Mille watches stand out for their engineering excellence and strong marketing strategies, particularly among athletes. Models like the RM 6702, designed for active individuals, remain highly sought after. However, Hossien emphasizes the importance of selecting the right model, as not every Richard Mille watch holds the same investment value.}

_‍

The Impact of Cryptocurrency on the Luxury Market

_{Hossien observes an interesting trend among cryptocurrency investors, who often turn to luxury watches as tangible assets. He mentions that during Bitcoin peaks, many crypto enthusiasts invested heavily in high-end watches. As the crypto market evolves, these investors are becoming more discerning, seeking out the best models from top brands like Patek Philippe and Richard Mille.}

_‍

The Importance of Personal Preference

_{Ultimately, Hossien advises buyers to choose watches that bring them joy, regardless of market trends. He believes that a watch should reflect the wearer's personality, much like a car. While some may prefer the elegance of a Patek Philippe, others might find joy in the robust design of a Zenith or the unique craftsmanship of an FP Journe.}

‍

‍

‍