Rolex Watch Prices: Historical and Current From Actual Sales Numbers
Updated October 3, 2023
In this article we will be going over what is no doubt the most popular watch brand in the world today – Rolex. The five-pointed crown has been able to capture the hearts and minds of watch collectors in a way unmatched by any other watch brand. Below, we provide a historical look at Rolex watch prices from 2016 until today, sourced from actual sales numbers from Luxury Bazaar.
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In many respects, we see Rolex as a brand that doesn’t really compete with other watch companies, but rather lifestyle brands. Owning a Rolex has really become, at times, a way to show one’s wealth, status and lifestyle. It is the certified first money watch and without a doubt, Rolex watches are some of the most recognizable watch models. This is a far cry from the tool watch history Rolex was once admired for.
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Rolex Watch Price Fluctuations
Rolex watches have become some of the most sought after and collectible watches on the market today and has resulted in the vast majority of their watches selling for prices beyond MSRP. The most popular models are their professional models – the Submariner, GMT Master II and Daytona. All three Rolex models have performed incredibly well on the grey market with prices reaching record highs in recent months.
To show you this growth, we will share with you a pricing chart based on the actual sale prices of 5 of the most popular Rolex models on the market to showcase that not only are these models a great store of value but also a great potential investment vehicle if that is what someone is seeking them to be. And it will inevitably showcase that the current price fluctuation of this model is not a crash, but rather just a natural cyclical price correction not unlike what other asset markets are currently experiencing.
Rolex Submariner 116610LV – The Hulk
One of the most beloved modern Rolex watches is the Rolex Submariner reference 116610LV better known as the Hulk and for good reason. When it was first introduced in 2010 it was, funnily enough, quite negatively received. At the time of its release we’d never seen such a vibrant steel submariner. The watch featured a green ceramic bezel and a green sunburst dial in Rolex’s corporate colors.
It’s important to note this was not the first steel Submariner that featured a green bezel before. To commemorate the 50th anniversary of the release of the Submariner in 1953, Rolex introduced in 2003 the reference 16610LV better known as the Kermit. The watch was the exact same as the 16610LN however it now featured a green aluminum bezel. This was the first submariner in steel to feature a colored bezel of any kind.
The Rolex Submariner 116610LV Hulk came as the successor to that watch. The colors absolutely popped and it was a love it or hate it watch, not like how it is today where this watch is universally beloved. The Hulk was also different to the Kermit in terms of its build quality. While it shared a 40mm case size with the Kermit, the Hulk was in what Rolex collectors call the Super Case or Maxi Case which featured much thicker lugs – very apt for a watch nicknamed “The Hulk”. It also featured a new bracelet that has become the standard for Rolex which has ceramic coated pins and alleviates the bracelet stretch vintage and neo vintage Rolex were plagued with. The dial was also much more legible featuring “Maxi” lume plots which were also used in the 16610LV Kermit.
In the last 5 years Rolex collectors have really come to appreciate the distinct look of the Rolex Submariner Hulk and it has become arguably the most beloved modern steel submariner. The Rolex Submariner Hulk was discontinued in 2020 having a production run of 10 years. Despite being such a long running reference, the value of this model has come a long way in recent years.
Historical Price Chart
| Year | Average Price | Percent Increase |
|---|---|---|
| 2016 | $7,192 | – |
| 2017 | $8,188 | 12.16% |
| 2018 | $11,000 | 25.57% |
| 2019 | $15,010 | 26.72% |
| 2020 | $15,800 | 5.00% |
| 2021 | $25,319 | 37.60% |
| 2022 | $26,250 | 3.68% |
| 2023 | $23,250 | -12.12% |
In 2016, Rolex Hulk watches were widely available in most Rolex Authorized Dealers and had an average market price of approximately $7,200. This is a pretty shocking number considering the current market price of this watch and given the fact this watch would’ve carried an approximate retail price of $9,000. This means the Rolex Submariner Hulk traded at an approximate 25% discount from its retail price in 2016! This speaks volumes as to just how far this model has come both in terms of popularity and price.
In 2017, prices of Hulk started to creep up and reached an average market price of approximately $8,200 which was a 12% increase from the previous year. It’s important to put it into context also. In 2016 and 2017, the Rolex market was relatively stable market. There weren’t huge upswings or downswings in value like this watch has experienced in recent years. So for the Hulk to have increased in value by so much after having been produced already for 7 years at that point is a huge result. Why did this happen? Well for one 2017 is the year of the Paul Newman Daytona auction. Secondly, 2017 was really the start of social media, and the Hulk is such a recognizable and eye-capturing watch that definitely played in its favor.
In 2018 and 2019 the value of the Submariner Hulk absolutely took off. In 2018 its value grew by nearly 26% to an average market price of approximately $11,000 and another 27% in 2019 to an average market price of approximately $15,000. These were the years when Rolex collectors and the more broad watch market started to realize the special and unique qualities of the Hulk namely due to its color configuration. In 2020, despite the pandemic and the watch market experiencing a slight dip in this period, the Hulk still saw its price on the secondary market rise to an average market price of approximately $16,000 – a 5% increase compared to the previous year.
2021 really marked a turning point for the Hulk given the fact that it was discontinued and given the short period with which the watch was made with the newer green warranty cards. Naturally, these models still carry a premium compared to regular production models. After it was discontinued the Hulk saw a huge surge in price achieving an average market price of approximately $25,000 representing an increase of nearly 38% compared to the previous year. This was the first time the Hulk had achieved a price over $20,000 and has stayed there ever since for newer examples of this watch. In 2022 the Hulk saw a slight increase in its overall market price to an average market price of approximately $26,000.
At one point in 2022, the Hulk reached prices as high as $35,000 for a brand new example which is mind-blowing considering it carried a market price of $7,200 back in 2016 and was widely available in Rolex stores at the time. The current market value of a Hulk for a brand new example rests around the $22,000 to $23,000 range which makes sense as the watch is starting to find a natural long-run market equilibrium after it was discontinued.
Investment Return
Despite this price dip and the overall dip in the market, the Rolex Submariner Hulk 116610LV still experienced an average annual return of approximately 18.5% over 7 years. However, what this graph most importantly showcases is that in any given year, a watch may be subject to price fluctuations, but over time it has a proven track record of steady growth – not unlike that of the stock market. So not only do you get to wear a badass watch that has been spotted on the wrist of some of the biggest celebrities in the world, but also get a watch that has proven to be quite a lucrative alternative asset.
| Case Diameter: | 40mm |
| Case Thickness: | 12.5mm |
| Case Metal: | Brushed and Polished Stainless Steel |
| Bracelet Metal: | Brushed and Polished Stainless Steel |
| Dial: | Green sunburst dial, white gold lume-filled applied hour indices and hour and minute hands |
| Movement: | Calibre 3135 ⇒ In-House Movement – 31 Jewels, 105 Components |
| Power Reserve: | 48 hours |
| Complications: | Hours, minutes, date |
| Price: | $9,050 |
Rolex Daytona 116500LN – The Panda
Introduced in 2016 the Rolex Daytona 116500LN has become what can only be described as a modern classic. Probably the most beloved Rolex watch in its modern catalog of offerings, it is the closest looking Daytona to an exotic dial Paul Newman Daytona which I think definitely adds to its overall desirability. Not much needs to be said about this watch. It’s part of a model line that has become arguably the most collectible model line of any brand of watches. It sports a steel case and bracelet and really practical upgraded ceramic bezels from the previously used steel and bakelite bezels and the design is just perfect. It truly is hard to fault absolutely anything about this watch.
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How Much Can I Get For My Rolex Daytona?
The story of the Rolex Daytona is actually one of trial and tribulation. It was not always seen as the success story it is today. The Rolex Daytona was originally known as the Cosmograph. This was a name in reference to the fact that the Daytona was originally made to conquer the space race and be the first watch worn on the moon. As most watch collectors know, the Daytona simply could not stand up to Nasa’s rigorous testing and the Cosmograph ended up losing out to the Omega Speedmaster. It wasn’t until 1964 when the first Rolex chronograph was branded with the word Daytona first just under the Cosmograph name and later just above the 6 o’clock subdial where it has been in every Daytona reference since then.
The Daytona name stems from Rolex’s celebration of its partnership with the Daytona international speedway cementing this partnership with a chronograph dedicated to motorsports. The first Daytonas were originally powered by manual winding Valjoux movements. Vintage Daytonas come in many references, variations, and styles each of which has its own merits for collectability in the minds of vintage Rolex fans.
The first self-winding Rolex Daytona came in 1988 in the reference 16520. This watch is known as a “Zenith Daytona” given the fact that the movement powering the watch is a modified Zenith El Primero movement. The Zenith El Primero movement was groundbreaking upon its release in 1969 given the fact it was the first Swiss automatic chronograph movement and was also a high-beat movement. The Zenith Daytona was made from 1988 until 2000 when Rolex released the reference 116520 which was the first time a Rolex Daytona housed an in-house movement – more to come on the Rolex Daytona 116520 later in this article.
The modern Rolex Daytona 116500LN better known as the Panda is really the culmination of all of these references into something that is more modern and features all the right upgrades. It has Rolex’s new ceramic pin bracelet system which was used on the last of the 116520 reference Daytonas, now features a ceramic bezel that is far more practical than the scratch-prone steel bezels and brittle bakelite bezels and its overall design was highly reminiscent of vintage Daytona designs that were simply modernized. There’s no doubt Rolex hit a home run with this model and it’s made abundantly clear simply based on this watch’s popularity and its price on the secondary market.
Historical Price Chart
| Year | Average Price | Percent Increase |
|---|---|---|
| 2016 | $15,000 | – |
| 2017 | $16,500 | 9.09% |
| 2018 | $19,000 | 13.16% |
| 2019 | $20,800 | 8.65% |
| 2020 | $23,700 | 12.24% |
| 2021 | $35,142 | 32.56% |
| 2022 | $35,250 | 0.31% |
| 2023 | $33,500 | -4.96% |
In 2016, the year this watch was released, the Panda Daytona carried an average market price of approximately $15,000. This was slightly higher than its roughly $12,000 retail price. This was normal for steel Daytonas to trade above their MSRP but definitely was an outlier in the overall Rolex range. The vast majority of Rolex watches at the time could be had at a discount but the Rolex Daytona was the only model that really had any kind of waitlist and traded over its MSRP.
Since 2016, the price of the Rolex Daytona Panda has only increased over time. In 2017, it carried an average market price of approximately $16,500 representing 9% increase from the previous year. The Panda Daytona continued its upward price trajectory achieving an average market price of approximately $19,000 in 2018, $21,000 in 2019 and $24,000 in 2020. Really two factors were at play in terms of this watch’s price increase; the first and most obvious is the role of social media.
The Panda Daytona is one of the most beloved Rolex models on the market and has been featured on the world’s biggest actors, celebrities, athletes, etc. Therefore, it really became an aspirational watch for collectors and was heralded as a grail of sorts in the steel Rolex model range. The second goes back to the Paul Newman Daytona auction in 2017. The sharp uptick in this watch’s price occurs in the years following this event which isn’t hard to tie two and two together as the Daytona really became THE model to have from Rolex.
In 2021, the price of the Panda Daytona saw a meteoric rise jumping nearly 33% to an average market price of approximately $35,000, and stayed around that price range also in 2022. At the peak of the market, Adrian knows of a few Panda Daytonas that were sold for $56,000 which is an incredible result considering the retail price of this watch is approximately $12,000. The strong run-up in this watch’s price can really be attributed to the two aforementioned reasons and this model has held pretty stable in price overall whereas a brand new Rolex Daytona 116500LN Panda will cost approximately $33,000 in the current market. This simply showcases the overall strength and popularity of this model overall.
Investment Return
Despite this price dip and the overall dip in the market, the Rolex Panda Daytona 116500LN still experienced an average annual return of approximately 12.7% over 7 years. However, what this graph most importantly showcases is that in any given year, a watch may be subject to price fluctuations, but over time it has a proven track record of steady growth – not unlike that of the stock market. So not only do you get to wear a badass watch that has been spotted on the wrist of some of the biggest celebrities in the world, but also get a watch that has proven to be quite a lucrative alternative asset.
| Case Diameter: | 40mm |
| Case Thickness: | 12.4mm |
| Case Metal: | Brushed and Polished Stainless Steel |
| Bracelet Metal: | Brushed and Polished Stainless Steel |
| Dial: | White Lacquer, white gold lume-filled applied hour indices and hour, minute and chronograph hands |
| Movement: | Caliber 4130 ⇒ In-House Movement – 44 Jewels, 201 Components |
| Power Reserve: | 72 hours |
| Complications: | Hours, minutes, chronograph, 30 minute counter, 12 hour counter |
| Price: | $14,550 |
Rolex Daytona 116508 – The John Mayer
Perhaps no modern Rolex watch has as cool a story to tell as the Rolex Daytona 116508 better known as The John Mayer Daytona. Now it’s important to note there are a few different variations of the 116508 John Mayer Daytona but the one known as the “John Mayer” is the green dial version. This model was released at Baselworld in 2016 alongside the new ceramic bezel reference 116500LN Daytonas which inevitably took all the shine away from the 116508.
In its early years, this was really a neglected model. Like most precious metal Daytonas, they were readily available at a discount from an Authorized Rolex Retailer and sat in the showcases of most ADs back when they were initially released. This was the fate of most precious metal Rolex watches prior to 2018-2019 when collectors started to take closer notice of how rarer these models were in gold. However, the fact of the matter is solid gold Daytonas were simply never as popular as their steel counterparts.
That was until this watch is one day spotted on probably the most famous watch collector in the world today John Mayer, who later went on to sing the praises of both the green dial 116508 Daytona and the blue dial 116509 on his long overdue second episode of Talking Watches with Hodinkee’s Ben Clymer. While the blue dial 116509 Daytona did also witness a certain rise to fame, it was nothing compared to the green dial 116508 Daytona.
The watch became a seeming overnight celebrity in the watch world with prices shooting through the roof. The reason John Mayer believed the watch was so special was quite simply due to its dial color – Rolex green. Prior to this watch’s release it was a real rarity for Rolex to ever use this color on their watches and those that did were always very collectible long term. Of course, it also helps that the watch is part of the Daytona family which is arguably the most collectible model line on the market today.
Historical Price Chart
| Year | Average Price | Percent Increase |
|---|---|---|
| 2016 | $22,925 | – |
| 2017 | $23,100 | 0.76% |
| 2018 | $28,700 | 19.51% |
| 2019 | $43,500 | 34.02% |
| 2020 | $45,250 | 3.87% |
| 2021 | $72,750 | 37.80% |
| 2022 | $109,900 | 51.07% |
| 2023 | $89,800 | -18.29% |
In terms of pricing, you definitely see the effect the watch had due to John Mayer singling out the model’s special qualities. In 2016, the watch had an average market price of approximately $23,000 which was well below its retail price. The watch held relatively stable in price in 2017 staying at $23,000 for its average market price. This was the norm for precious metal Daytonas at the time which simply were not thought of to be as collectible as they are today.
When the watch was first spotted on John Mayer’s wrist and as collectors started to take notice of this model – not to mention the incredible result of Paul Newman’s Daytona auction at the end of 2017 – the 116508 John Mayer experience a very significant surge in price to an average market price of approximately $29,000 which was an increase in the market price of nearly 20% overall. It really created a perfect storm to take this watch’s value into the stratosphere.
John Mayer’s now infamous episode of Talking Watches airs in 2019 and as I’m sure you can expect, the market price for the 116508 John Mayer explodes to an average market price of approximately $44,000 a 34% increase overall. Due to the pandemic and the huge surge in the price of this model in a short period, the value of this watch remained relatively stable in 2020 with an average market price of approximately $45,000. The watch continued its meteoric surge in 2021 and 2022 reaching an average market price of approximately $73,000 and $110,000 respectively. The insane rise in the price of this model is nothing short of mind-blowing and can really mainly be attributed to John Mayer’s influence. Who knows where the market price for this watch would be had he not told people how he felt about it. At the peak of the market we sold a 116508 John Mayer Daytona for as high as $140,000.
Investment Return
The current market price for this watch now sits around the $75,000 mark for a brand-new example. It’s fair to say this model has dramatically corrected in price which makes sense given its rather crazy rise in price that simply was never going to hold in the long run.
Despite this price dip and the overall dip in the market, the Rolex John Mayer Daytona 116508 still experienced an average annual return of approximately 24.50% over 7 years. However, what this graph most importantly showcases is that in any given year, a watch may be subject to price fluctuations, but over time it has a proven track record of steady growth – not unlike that of the stock market. So not only do you get to wear a badass watch that has been spotted on the wrist of some of the biggest celebrities in the world, but also get a watch that has proven to be quite a lucrative alternative asset.
| Case Diameter: | 40mm |
| Case Thickness: | 12.4mm |
| Case Metal: | Brushed and Polished Stainless Yellow Gold |
| Bracelet Metal: | Brushed and Polished Yellow Gold |
| Dial: | Green sunburst with red racing accents, yellow gold lume-filled applied hour indices, and hour, minute, and chronograph hands |
| Movement: | Caliber 4130 ⇒ In-House Movement – 44 Jewels, 201 Components |
| Power Reserve: | 72 hours |
| Complications: | Hours, minutes, chronograph, 30 minute counter, 12 hour counter |
| Price: | $37,550 |
Rolex Daytona 116520 – Black Dial
The successor to the now famed Zenith Daytona, the Rolex Daytona 116520 is an important watch in the history of the Daytona line for one main reason – it’s the first Rolex Daytona model to feature an in-house movement from Rolex. Released in 2000 this was a long-running reference that spanned all the way until the release of the modern ceramic Daytonas in 2016. In terms of size, proportions, and design the watch very closely resembled its Zenith Daytona predecessor. However, there were some subtle nuances that made them slightly different, and given the long run, the 116520 Daytona had, there are a few different variations that were released over the years each carrying their own subtle nuances.
Contrary to the 116500LN Ceramic Daytonas, the 116520 Daytona was far more popular in the black dial than it was the white dial – the black dial being the model used in this analysis. This isn’t all too surprising as white dial sports watches definitely were not what most collectors were used to in the early 2000s and have only become more popular in the last 5 or so years. The black dial also adds to the sporty feel of the 116520 and fits the overall look of the watch slightly better.
The most desirable model of the 116520 is the black dial from approximately 2012 to 2013 onwards where Rolex improved on the bracelet construction of the watch and fitted the watch with the newer style ceramic pin bracelet we see on the 116500LN. I’ve always felt the 116520 has always been a little undervalued and overlooked compared to the now slightly more popular Zenith Daytonas. While the Zenith Daytona is no doubt an important watch within the Daytona’s model line, knowing you have a movement made by Rolex in the 116520 makes it slightly more special to me considering the time it was released in when most watch manufacturers really were not making in-house movements for the most part.
Historical Price Chart
| Year | Average Price | Percent Increase |
|---|---|---|
| 2016 | $11,567 | – |
| 2017 | $12,000 | 3.61% |
| 2018 | $15,300 | 21.57% |
| 2019 | $15,875 | 3.62% |
| 2020 | $18,500 | 14.19% |
| 2021 | $25,750 | 28.16% |
| 2022 | $26,083 | 1.29% |
| 2023 | $23,000 | -12.56% |
In terms of price, the 116520 has been a steady and consistent stable riser over time, even for a Rolex. This is a model that didn’t experience the huge price surge seen by other Rolex watches (such as other modern Daytonas). This is more normal than perhaps what newer watch collectors are used to as vintage and neo-vintage Rolex models have always been good stores of value and steady consistent risers over time.
When this watch was discontinued in 2016 it carried an average market price of approximately $11,500. This was slightly below its last known retail price of $12,200. This is not altogether surprising given how long this watch was produced and given just how different the watch market was at the time. It simply did not have the size it does today and it should be noted it was discontinued one year prior to the Paul Newman Daytona auction and replaced with the 116500LN which could potentially be the reason it never experienced the huge price surge other Daytona models experienced.
In 2017, the 116200 carried an average market price of approximately $12,000 which represented only a 3% increase overall. The Newman auction did take effect as did social media in 2018, and these Rolex watches experienced a 21.5% price jump to an average market price of approximately $15,200. The watch remained relatively steady price-wise in 2019 with an average market price of approximately $16,000 before surging in price in 2020 and 2021 with an average market price of approximately $18,500 and $26,000 respectively. In 2022, so far the price of the 116520 based on our sales data has remained relatively stable around the $26,000 range.
The significant price action of the 116520 Daytona in 2020 and 2021 can really be attributed to two factors. The first is the role social media played on the price of Rolex watches in general, and the Daytona line specifically. Secondly, was the price of the 116520’s successor the 116500LN. As the price of the 116500LN climbed higher and higher, many buyers became priced out of this model and so they turned to the slightly more affordable alternative which the 116520 always was compared to its successor the 116500LN and even its predecessor the Zenith Daytona reference 16520. At its current market price of approximately $22,000, I still feel the Rolex Daytona reference 116520 is a great value play in the current market.
Investment Return
Despite the overall dip in the market, the Rolex Daytona 116520 still experienced an average annual return of approximately 12% over 7 years. However, what this graph most importantly showcases is that in any given year, a watch may be subject to price fluctuations, but over time it has a proven track record of steady growth – not unlike that of the stock market. So not only do you get to wear a badass watch that has been spotted on the wrist of some of the biggest celebrities in the world, but also get a watch that has proven to be quite a lucrative alternative asset.
| Case Diameter: | 40mm |
| Case Thickness: | 12.4mm |
| Case Metal: | Brushed and Polished Stainless Steel |
| Bracelet Metal: | Brushed and Polished Stainless Steel |
| Dial: | Black Lacquer, white gold lume-filled applied hour indices and hour, minute and chronograph hands |
| Movement: | Caliber 4130 ⇒ In-House Movement – 44 Jewels, 201 Components |
| Power Reserve: | 72 hours |
| Complications: | Hours, minutes, chronograph, 30 minute counter, 12 hour counter |
| Price: | $12,200 |
Rolex GMT Master II 126710BLRO – The Pepsi
When it comes to iconic Rolex watches, one would be hard-pressed not to at the very least mention a Rolex Pepsi GMT of some kind. The GMT Master line dates back to 1954 with the release of the Rolex GMT Master reference 6542. The watch was originally made as a pilot watch for Pan-Am airlines who wanted a watch that could keep track of multiple time zones at once. The original 6542 featured a bakelite bezel with a blue and red color scheme which has now been nicknamed “The Pepsi” with an oyster bracelet. The 6542 did also become available on a jubilee bracelet later on in 1957. The 6542 was not only capable of tracking two time zones but actually one could track a third time zone by using the watch’s 24-hour bezel. The 6542 only had a 6-year production run and gave birth to other GMT Master and GMT Master II references.
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One such reference is the modern Rolex GMT Master II Pepsi, the reference 126710BLRO. Not unlike the 6542 the watch is available both on a jubilee and oyster bracelet, although it was originally released on a jubilee bracelet in 2018 and became additionally available on an oyster bracelet in 2021. The watch features a lot of the same design cues as the original 6542 such as the bicolored “pepsi” bezel – the modern one being in ceramic, same red painted GMT hand, same cyclops lens magnifying the date, similar black dial – the modern one being a lacquer dial vs the matte dials of old and the ability to track 3 timezones if needed. The similarities of the original GMT Master reference as compared to the original GMT is a testament to the incredible design Rolex achieved for this watch back in 1954. Rolex has really perfected the design of the GMT and it is by far the most recognizable on the market.
Historical Price Chart
| Year | Average Price | Percent Increase |
|---|---|---|
| 2018 | $16,200 | – |
| 2019 | $17,138 | 5.47% |
| 2020 | $17,300 | 0.94% |
| 2021 | $21,300 | 18.78% |
| 2022 | $26,450 | 24.18% |
| 2023 | $21,500 | -18.71% |
In terms of price, the Rolex GMT Master II 126710BLRO Pepsi was the most collectible and most expensive steel GMT watch until Rolex released the reference 126720VTNR Destro or Left-Handed GMT earlier this year. The Pepsi always traded at a premium to the Batgirl and Batman reference 126710BLNR GMT Master IIs given the fact that the Pepsi is slightly more desired by collectors as it was the original GMT color combination. The Batman and Pepsi always traded similarly in terms of price trends over time with the Pepsi consistently carrying a premium of a few thousand dollars over the Batman.
In 2018 upon this watch’s release, the Rolex GMT Master II Pepsi reference 126710BLRO came out of the gate with an average market price of approximately $16,000. This is one of the few Rolex watches that has never traded below its retail price since it was released. This is due to the fact that 2018 was one year after the Paul Newman Daytona auction which I like to credit as the event that really sent Rolex prices to the next level by 2018 watch posts on social media was starting to blow up and the release of this watch was highly anticipated since Rolex had released a Pepsi GMT in ceramic in white gold in the reference 116719BLRO.
In 2019, the watch gained slightly in value carrying an average market price of approximately $17,000 and remained relatively stable through the pandemic in 2020 with an average market price of approximately $17,500. This is definitely normal considering this watch was already trading at twice its retail price so the fact it didn’t drop in average market price is quite surprising.
As you’d expect, with the watch market and watch prices exploding in 2021 and 2022, the Rolex GMT Master II Pepsi was one of those models at the forefront of the hype rally. In 2021, it carried an average market price of approximately $21,000 a nearly 19% increase from 2020, and in 2022 jumped nearly 25% to an average market price of approximately $26,500. At the peak of the market, this model nearly reached a market price of $35,000 – the most expensive 126710BLRO model ever sold by us was $32,000 in March 2022.
The current market price of the 126710BLRO sits at about the $19,000 to $20,000 range, which is still more than double its retail price. It’s still incredibly impressive that this Rolex watch’s price has never dropped below its original MSRP.
Investment Return
Despite this price dip and the overall dip in the market, the Rolex GMT Master II Pepsi 126710BLRO watch still experienced an average annual return of approximately 12.3% over 5 years. However, what this graph most importantly showcases is that in any given year, a watch may be subject to price fluctuations, but over time it has a proven track record of steady growth – not unlike that of the stock market. So not only do you get to wear a badass watch that has been spotted on the wrist of some of the biggest celebrities in the world, but also get a watch that has proven to be quite a lucrative alternative asset.
| Case Diameter: | 40mm |
| Case Thickness: | 12.1mm |
| Case Metal: | Brushed and Polished Stainless Steel |
| Bracelet Metal: | Brushed and Polished Stainless Steel |
| Dial: | Black Lacquer, white gold lume-filled applied hour indices and hour, minute and seconds hands, white gold painted GMT hand |
| Movement: | Caliber 3285 ⇒ In-House Movement – 31 Jewels |
| Power Reserve: | 70 hours |
| Complications: | Hours, minutes, seconds, date, GMT |
| Price: | $10,550 |
Takeaways
Overall, the goal of this article is not to promote watches as investments but rather to showcase that the whole narrative surrounding the “watch market crash” is really not based on reality. Just like stocks or really any other asset, watch prices may be subject to cyclical price fluctuations. However, I believe this article shows that over a longer period of time with more data points and basing ourselves on actual sale prices of these models, watch prices trade in cyclical flows, not unlike other assets, and the so-called “watch market crash” is nothing more than a cyclical price correction.
Over the last 6-7 years, whether you like it or not, watches have been proven to be a potentially lucrative alternative asset that in some cases outperforms the S&P500. But, as always, here at Luxury Bazaar we would always caution you against the notion of investing in watches and instead opt to buy what you like. In the long run, whether your watch goes up or down in value will be irrelevant because you will actually get to enjoy your watches and wear what you like without worrying about their future value.
Important Note: Please note that this article is strictly meant to be informational and for entertainment purposes only. We are not financial advisors and are not providing financial advice or suggesting you should invest in watches but rather seeking to share our watch market knowledge that Luxury Bazaar has accumulated from buying, selling, and trading luxury watches over the last 20 years.
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