It is interesting that Rolex drew the spotlight away from its 60th anniversary Daytona watches with the unveiling of the emoji Day Date and the bubble dialed Oyster Perpetual.
But it is the Daytonas that have had the greatest impact on the wider prestige watch business, with Rolex upgrading the entire family, and discontinuing their predecessors.
Prices for the most desirable Rolex references have slumped in price on the secondary market since the first quarter of last year, albeit from extreme — well over retail price — highs.
Even in the first half of this year, a period when the secondary market for all watch brands appeared to have bottomed out, Rolex prices continued to fall; down 2.2% since January 1, according to data from Watchcharts in a recent Morgan Stanley report.
However, there was a spike in activity and prices when news of new and discontinued watches broke at Watches & Wonders.
WatchCharts’ Rolex index rose for about a one-month period between March and April.
It was not just the replacement of the entire Daytona line that stimulated an improvement in prices, Rolex also updated the Sky-Dweller collection and discontinued the Milgauss and Cellini.
The highest spike in prices was for the gold and green ref. 116508-0013 Daytona, commonly called the John Mayer, which saw an increase of almost 20% within a few weeks of being nixed from the catalog.