AÂ week long online auction dedicated to Rolex’s Daytona has concluded at Watchcollecting.com with sale prices suggesting the secondary market is stabilising for the iconic chronograph.
The Watch Collecting auction platform has sold nearly 100 Rolex Daytonas since launching in March 2021.
Prices peaked across the secondary market around March, with Subdial reporting sale prices averaging £33,450 for the ref. 116500LN steel Daytona with ceramic bezel.
The watch has a retail price of £12,150 after a price increase by Rolex from £11,600 on September 1.
Watch Collecting’s archive of sale prices mirrors this, with the highest price paid for the same reference reported in May when an unworn 2021 model with box and papers hammered for £32,500, plus 6% buyer’s premium.
Watch Collecting’s specialist week long auction of Daytonas had 12 different models including a platinum piece with pale blue dial and diamond hour markers, which sold for £98,000.
A 2022 steel and ceramic 116500 Panda with a full set sold for £27,500, 15% less than the comparable watch in May.
Surely this demand is from the speculators only. At the weekend I visited 3 reputable secondary dealers in Hong Kong and counted more than 50 Daytonas for sale with at least 20 being 2021 or 2022 models. It is easy to pick up a new Daytona here for a speculators low price of £27,500. Why are there so many for sale ? Hong Kong collectors will not pay speculators prices.