Black Friday may be viewed as an irritating American import by a nation without Thanksgiving in their diaries, but it could provide a welcome opportunity for pre-owned traders to shift watches that have been falling in price all year, and struggling to find a level where customers are ready to buy.
The most over-hyped Rolex watches, seen as cast-iron investments only 18 months’ ago, have endured the steepest price falls, leaving an army of flippers who flocked to the pre-owned watch market as it boomed after covid, nursing significant losses and struggling to offload stock.
Unworn steel Rolex Daytona ref. 116500LN watches have fallen in price by 8.41% on the grey market in the past six months, and are now selling for under £27,000, close to half the peak price of £44,000 according to Chrono24’s price tracking service.
Chrono24 analytics show a Rolex GMT Master II ref. 126710BLNR (Batman) can be bought for £14,500 today, 5.6% less than in May and a third lower than its peak price of £21,000 last year.
Looking across the secondary market, there are a plethora of Black Friday sales that hope to tempt punters to buy now.
Watchfinder is offering up to 25% off for watches from brands including Rolex, Omega and TAG Heuer.
A 2011 Audemars Piguet Royal Oak ref. 15202ST.OO.0944ST.02 has one of the steepest price drops from £101,000 to £82,000; but that is still far about the wider market price, which has slumped to under £50,000 and still falling.
Watches of Switzerland is holding a Black Friday sale, but there are no deals for Rolex watches, which are all part of the official Certified Pre-Owned programme that appears determined to sell at prices well above what the market is suggesting.
A 2011 Rolex Submariner Date ref. 16610LV (Kermit), is still marketed at £22,250 despite them widely being offered for under £15,000.
BQ Watches’ always aims to be competitive on price, and a Black Friday sale has shaved a little extra off some highly collectible examples.
My eye was drawn to this 2007 Rolex Daytona in 18ct yellow gold with a black chronograph dial, which has had £1,000 shaved off its price to bring it to £30,000.
