This bonus season, don’t bet on a bargain Rolex

JUST as bonus season arrives, the best bargains on second-hand Rolexes may be coming to an end.

The Bloomberg Subdial Watch Index, which tracks the 50 most-traded Swiss watches by transaction value, was flat in December and January, though its Rolex Index has eked out a small gain since the end of November, after more than a year-and-a-half of steep declines.

This is following a somewhat seasonal pattern now – the market for used watches slumped in spring 2022, then improved by the end of the year and the beginning of 2023, only to fall back sharply again. This year’s stability, however, will depend on a few key things – from expectations of interest-rate cuts being met and inventories moderating to, importantly, the growing online culture around watch collecting.