Watches
Watchfinder Cuts Prices 15% as Rolex and Patek Philippe Values Slide
- Average price of £7,000 continues for watches put up for sale
- Rolex remains the most popular brand in pre-owned market
Watchfinder & Co., the online pre-owned watch-selling platform controlled by luxury conglomerate Richemont, has dropped prices by about 15% as valuations of used Rolex and other top models have declined.
“There is pain for sure,” Arjen van de Vall, who took over as the chief executive officer of Watchfinder in 2021, said in an interview. “You see supply going up significantly for models that we would literally have killed for just a couple of months before.”