Rolex has long dominated the second-hand watch market, but new data from Chrono24 shows its market share has dropped from 44% in 2022 to 34% by 2024. During the pandemic, Rolex saw high demand, with prices driven up by speculators. However, the bubble burst, and prices dropped, leading to a decline in its market share. Wait times at authorized dealers have also decreased, making it easier to buy new Rolexes at retail prices.
Some Rolex models, like the Datejust and Day-Date, have held their value better, while others, such as the Daytona and GMT-Master, have seen bigger drops. Younger buyers are also showing more interest in Rolex, particularly in classic models.
In 2023, Rolex launched its Certified Pre-Owned (CPO) program, giving buyers a way to purchase authenticated second-hand watches directly from authorized dealers. Meanwhile, competitors like Omega, Patek Philippe, and Cartier are gaining market share, with Cartier seeing the biggest rise.
