The strong pandemic-era demand for high-end goods is starting to wane. It began to reflect in the sales of big brands like LVMH and Gucci, as they experienced a slowdown in their previous quarter. Now, the slump is spreading into the world of luxury timepieces, too.
The prices of Rolex and Patek Philippe watches slid to new two-year lows in October as demand in the secondary market declined. The Bloomberg Subdial Index, which looks at the pricing for the 50 most traded watches by value, fell 1.8% last month—to its lowest since 2021. In the last 24 months, the prices have dropped about 18%, according to the index.
