Nautilus and royal oak

Prices drop on secondary market for Patek Philippe’s Nautilus and Audemars Piguet’s Royal Oak Jumbo

Arguably the two hottest watches on the planet for the past year, Patek Philippe’s Nautilus 5711/1A-010 and Audemars Piguet steel on steel Royal Oak Jumbo, have seen prices drop by around 10-15% on the secondary market in the past few months.

Arguably the two hottest watches on the planet for the past year, Patek Philippe’s Nautilus 5711/1A-010 and Audemars Piguet steel on steel Royal Oak Jumbo, have seen prices drop by around 10-15% on the secondary market in the past few months.

CHRONEXT’s CEO Philipp Man confirmed to WATCHPRO in a recent interview that the two references had passed their peak prices recently, but he suggested it could be only a temporary dip and is not part of a wider correction for unicorn watches from the likes of Rolex, AP and Patek Philippe.

“We are seeing small corrections on very high end watches like Royal Oaks or Nautiluses, but that is quite a specialist market and may change again,” Mr Man says.

“On all the more affordable steel sport Rolex watches, prices are continuing to rise,” he adds.

Data from Chrono24 confirms prices for the 5711 and Royal Oak Jumbo cooling after a stratospheric rise since both models were discontinued last year.

Chrono24 nautilus price

Chrono24, which takes into account historic final sale prices as well as current listing prices, values the Nautilus 5711 at £155,442, down 16% from a peak of £185,000 in February this year but still six times its retail price.

Chrono24 royal oak price

The marketplace values the Royal Oak Jumbo with blue dial at £118,830, down from £130,000 in March. It is discontinued but was selling for £27,900 at retail.

Asked whether the Royal Oak and Nautilus price falls were a sign of a cooling market more widely, Mr Man insisted the current imbalance between limited supply and soaring demand made that unlikely.

“Shortages look like a permanent feature because demand is outstripping supply in a structural way. Eventually we may see a bit of a correction, but structurally prices will remain above retail for a very long time,” he suggests.

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4 Comments

  1. The prices are going down because at the end of the day they only tell the time.your paying for the name…frankly looking at these watches they don’t look particularly striking….bottom line …a rip off to people with more money than sense.

  2. “A fool and his money are soon parted…”

    “We live in an age of insanity!”

    – 50 year fine watch enthusiast

  3. It will just plateau. But surely, the secondary prices for near-mint-condition watches will always be at least 5X higher than the retail prices of discontinued pieces.

  4. The demand is still high. It will stabilize at at least 4X the retail price soon for mint-condition discontinued fine watches like the Nautilus and Jumbo.

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