Other than traditional investments like stocks and bonds, luxury watches are also a popular choice among investors and collectors alike for their ability to hold and appreciate in value over time. Some of these investment pieces can even outperform top stock market indices, such as the S&P 500.
Considered the "King of Watches," Rolex is renowned for its value retention and potential price growth. Let's take a closer look at some of the most popular models and whether you should invest in one.
Table of content
- Are Rolex watches a good investment?
- Why have Rolex prices dropped recently?
- Rolex Daytona: +44.2% in 5 years
- Rolex Datejust: +38.5% in 5 years
- Rolex Submariner: +15.7% in 5 years
- Rolex GMT-Master II: +12.3% in 5 years
Are Rolex watches a good investment?
Rolex watches are incredibly active in the pre-owned market worldwide. Certain popular models are highly sought after by collectors and investors, with some appreciating in value by as much as double, potentially offering even better returns than bluechip stocks.
Data from WatchCharts, a watch price comparison platform, shows that while the overall watch market declined from its 2022 peak, Rolex watches have consistently outperformed the market in terms of value retention. Over the past five years, Rolex prices have increased by approximately 20%, averaging about 10% annually, exceeding the annual growth of the S&P 500 index.
But why do Rolexes hold their value so well? Besides factors like materials, craftsmanship, advertising, and brand value, the difficulty of acquiring a Rolex plays a significant role. Demand has long outstripped supply, and popular models aren't readily available in stores. Customers often have to join waiting lists, sometimes for as long as three months to five years, to purchase specific models. This scarcity significantly contributes to their value.
Source: WatchCharts Analytics (2024)
Monthly Payment
HK$8,433
- The Lowest APR
- 1.18%
- Total Amount Payable
- HK$202,400
- Total Interest Payable
- HK$2,400
- Monthly Payment
- HK$8,433
Why have Rolex prices dropped recently?
According to Morgan Stanley research, since the end of the global pandemic in 2022, the WatchCharts Overall Market Index has recorded an average decline of 32%. The report suggests that the Federal Reserve's post-pandemic interest rate hikes and tighter monetary policy reduced market liquidity. This led investors to cut back on luxury spending, shifting cash towards savings or more defensive investments.
Additionally, Rolex factories ramped up production after the pandemic, increasing supply and shortening waiting lists. Simultaneously, a large influx of Rolex watches entered the secondary market. These factors combined to lessen the appeal of Rolex watches in the pre-owned market.
1. Rolex Daytona: +44.2% in 5 years
The number one watch on our list is the Daytona, widely recognized for its distinctive panda-looking-dial design and an exceptional value retention. It's seen a 44.2% price increase over the past five years. Various Daytona models exist, with the average pre-owned price currently around HK$245,000. Discontinued limited editions can command even higher prices in the secondary market, reaching up to HK$1,700,000.
Among all models, the "Panda Daytona" with its black and white dial (reference number 126500) remains the most popular. The latest generation Daytona features the 4131 movement with two patented devices, and a subtly refined, slimmer bezel around the black and white chronograph subdials. Its current retail price is HK$124,000, with waiting times ranging from one to five years.
Rolex Daytona's Performance Summary (5 years)
Year | Second-hand market average* |
2020 | $348,036 |
2021 | $434,116 |
2022 | $566,995 |
2023 | $519,451 |
2024 | $523,329 |
CHG% (5 years) | 44.20% |
AAGR | 8.90% |
Popular Rolex Daytona's models & price
Reference | Market price* |
116500 | HK$185,328 - HK$217,559 |
116520 | HK$142,221 - HK$170,010 |
116503 | HK$143,276 - HK$171,271 |
Ghost 116519 | HK$257,425 - HK$319,115 |
116523 | HK$124,388 - HK$149,896 |
116515 | HK$231,202 - HK$297,865 |
116509 | HK$266,350 - HK$347,360 |
116518 | HK$253,516 - HK$338,811 |
2. Rolex Datejust: +38.5% in 5 years
When you think of Rolex, the first image that often comes to mind is the Datejust, with its iconic date window magnifier and five-piece link metal bracelet. Compared to other Rolex models, the Datejust offers a more understated design and is the most accessible in terms of price. A pre-owned Datejust in good condition currently sells for around HK$70,000, while rose gold versions can fetch HK$300,000 to HK$400,000. The Datejust also comes in various models, with the classic 36mm version (reference number 126200) being the most popular. Common dial colors include blue, black, white, gray, and green.
Rolex Datejust's Performance Summary (5 years)
Year | Second-hand market average* |
2020 | $52,806 |
2021 | $67,545 |
2022 | $79,096 |
2023 | $75,637 |
2024 | $73,383 |
CHG% (5 years) | 38.50% |
AAGR | 8.50% |
Popular Rolex Datejust's models & price
Reference | Market price* |
126334 | HK$90,834 - HK$108,582 |
126300 | HK$65,913 - HK$78,633 |
16233 | HK$42,891 - HK$52,955 |
69173 | HK$26,623 - HK$36,840 |
1601 | HK$29,125 - HK$44,423 |
126234 | HK$76,381 - HK$95,842 |
16013 | HK$34,773 - HK$46,000 |
16234 | HK$42,474 - HK$51,912 |
Monthly Payment
HK$8,457
- APR as low as*
- 1.18%
- Total Amount Payable
- HK$202,976
- Total Interest Payable
- HK$2,976
- Monthly Payment
- HK$8,457
3. Rolex Submariner: +15.7% in 5 years
Another beloved and highly sought-after Rolex classic is the Submariner, one of the brand's most iconic watches, boasting a five-year average price increase of 15.7%. The current average pre-owned price for a Submariner is around HK$105,000, with rarer special editions commanding prices up to HK$1,000,000 in the secondary market.
The Submariner's popularity as an investment piece began with the 2003 release of the limited-edition green bezel and black dial "Hulk" (reference number 116610). A more affordable but equally popular option is the black bezel and black dial "Black Submariner" (reference number 124060). The current retail price for the Submariner starts at HK$84,400, with waiting lists ranging from six months to three years.
Rolex Submariner's Performance Summary (5 years)
Year | Second-hand market average* |
2020 | $118,176 |
2021 | $151,494 |
2022 | $184,494 |
2023 | $157,410 |
2024 | $145,159 |
CHG% (5 years) | 15.70% |
AAGR | 8.30% |
Popular Rolex Submariner's models & price
Reference | Market price* |
16610 | HK$61,017 - HK$72,792 |
116610 | HK$78,516 - HK$88,718 |
126610 | HK$96,276 - HK$104,927 |
116610LV | HK$130,068 - HK$147,558 |
16613 | HK$71,227 - HK$87,585 |
5513 | HK$68,710 - HK$109,526 |
114060 | HK$70,438 - HK$78,009 |
126610LV | HK$107,021 - HK$118,050 |
4. Rolex GMT-Master II: +12.3% in 5 years
The final watch on our list is the GMT-Master II, nicknamed the "Pepsi" for its iconic red and blue bezel resembling the soda can's color scheme. It's another highly sought-after model among watch enthusiasts. The median pre-owned price for a GMT-Master II hovers around HK$139,000, though prices can range from HK$80,000 to HK$800,000 depending on the specific model and condition.
Besides the "Pepsi," another popular GMT-Master II is the black and green "Sprite" (reference number 126720), with an average pre-owned market price of HK$130,000. The current retail price for the GMT-Master II starts at HK$87,800, and waiting times vary from one to five years.
Rolex GMT Master II's Performance Summary (5 years)
Year | Second-hand market average* |
2020 | $256,491 |
2021 | $309,555 |
2022 | $380,434 |
2023 | $325,086 |
2024 | $307,082 |
CHG% (5 years) | 12.30% |
AAGR | 8.10% |
Popular GMT Master II's models & price
Reference | Market price* |
16710 | HK$84,765 - HK$103,602 |
126710BLNR | HK$119,014 - HK$131,278 |
116710 | HK$81,458 - HK$92,412 |
126710BLRO | HK$144,256 - HK$161,371 |
1675 | HK$82,726 - HK$155,678 |
116710BLNR | HK$102,258 - HK$114,391 |
126711CHNR | HK$135,145 - HK$148,774 |
16700 | HK$80,362 - HK$96,647 |
Monthly Payment
HK$8,873
- APR*
- 6.28%
- Total Amount Payable
- HK$212,960
- Total Interest Payable
- HK$12,960
- Monthly Payment
- HK$8,873
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*The above information is for reference only. Product prices may go up or down in the future. This content does not constitute investment advice. Investors should seek independent advice before making any investment decisions.
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