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The declining demand for luxury watches in the secondary market is attributed to a waning trend in pandemic-era enthusiasm for luxury items

Rolex and Patek Philippe prices hit two-year lows, here's why

The declining demand for luxury watches in the secondary market is attributed to a waning trend in pandemic-era enthusiasm for luxury items

Prices of high-end Rolex and Patek Philippe luxury watches have reached a new low in two years. According to Bloomberg Subdial Index, which tracks the pricing for the 50 most traded watches by value, witnessed a 1.8% drop in October, hitting its lowest point since 2021. Over the last 24 months, prices have fallen by about 18%.
<h3>Pandemic-Era Enthusiasm Decline:&nbsp;</h3>
The declining demand in the secondary market is attributed to a waning trend in pandemic-era enthusiasm for luxury items. This shift is evident in major brands like LVMH and Gucci, which experienced a slowdown in the previous quarter. The slump is now extending to luxury timepieces, with Rolex and Patek Philippe prices seeing a considerable decrease.
Also read/watch - <a title="Siemens AG is set to acquire an 18% stake in Siemens India" href="https://www.editorji.com/business-news/markets/siemens-ag-is-set-to-acquire-an-18-stake-in-siemens-india-1700037254759">Siemens AG is set to acquire an 18% stake in Siemens India</a>
Christy Davis, co-founder of London-based Subdial, noted growing downward pressure in the market, leading to a potential further decline in prices. As a consequence, the average number of days to sell pre-owned watches has increased by 8% since August.
This trend aligns with observations from significant luxury conglomerates, such as LVMH and Kering, indicating a correction in demand compared to the heightened consumer spending during the COVID-19 period. Richemont, the owner of luxury brand Cartier, also reported sales missing analyst expectations, citing factors like inflationary pressure and geopolitical tensions affecting customer sentiment. Also read/watch - <a title="India must invest $20 billion in 20 years to train school teachers: Narayana Murthy" href="https://www.editorji.com/business-news/india-must-invest-20-billion-in-20-years-to-train-school-teachers-narayana-murthy-1700040081040">India must invest $20 billion in 20 years to train school teachers: Narayana Murthy</a>
<h3>Factors Impacting Sales:&nbsp;</h3>
The decline in secondhand luxury watch prices marks a stark contrast to the pandemic peak when demand for pre-owned Rolex and Audemars Piguet watches outpaced supply. However, economic pressures, including high-interest rates and downturns in stock markets and cryptocurrencies, have contributed to a downturn in the watch market over the past year.
Despite recent pricing trends, luxury watches remain resilient as a time-tested store of value. A Boston Consulting Group report highlighted that second-hand watches are sought after as alternate investments, historically performing well relative to stocks, even during economic recessions. Although prices have declined in 2022, luxury watch prices have demonstrated resilience and the potential for recovery.&nbsp;

Gujarat-based Rolex Rings, which is among the top five forging companies in India, is going to launch its IPO&nbsp;on Wednesday. Here are all the details:
IPO&nbsp;date: July 28 to 30
Listing date: August 9
Price bank: Rs 880 to 900
Lot size: 16 shares
Issue size: Rs 730 crore
GMP: Rs 450 (50% on upper band)
Lot price: Rs 14,400 (cut-off)
ALSO WATCH:&nbsp;Glenmark Life IPO opens today; Here is the grey market premium and issue details
&nbsp;
Rolex Rings is among the leading manufacturers of forged and machined components in India. It is an ace development partner manufacturing high-quality, world-class, customized automotive components as well as bearing rings for a huge base of clientele spread across the globe.&nbsp;

Rolex Rings IPO opens with a bang, full subscribed on Day 1

(to put out on social post 5 pm)
This IPO&nbsp;is commanding a 50% premium in the grey market already ! What is so special about Rolex Rings, here is all you need to know

Rolex Rings IPO opens Wednesday. Check grey market premium, other details

Rolex Rings is among the leading manufacturers of forged and machined components in India.

Gujarat-based Rolex Rings, which is among the top five forging companies in India, is going to launch its IPO&nbsp;on Wednesday. Here are all the details:
<ul>
<li>IPO&nbsp;date: July 28 to 30</li>
<li>Listing date: August 9</li>
<li>Price band&nbsp;Rs 880-900/share</li>
<li>Lot size: 16 shares</li>
<li>Lot price: Rs 14,400 (cut-off)</li>
<li>Issue size: Rs 730 crore</li>
<li>GMP: Rs 450 (50% on upper band)</li>
</ul>
ALSO WATCH:&nbsp;<a href="https://www.edtr.ai/9zc5" target="_blank">Glenmark Life IPO opens today; Here is the grey market premium and issue details</a>
Rolex Rings is among the leading manufacturers of forged and machined components in India. It is an ace development partner manufacturing high-quality, world-class, customized automotive components as well as bearing rings for a huge base of clientele spread across the globe.&nbsp;

Mission Blue: how 'hope spots' aim to save the marine world 

Legendary oceanographer and National Geographic explorer, Dr. Sylvia Earle founded an initiative called 'Mission Blue', which aims at saving the marine world, one 'hope spot' at a time!
The initiative is backed by Rolex and identifies these hope spots, which are sensitive areas in oceans across the globe, that require protection.&nbsp;
Since its inception in 2008, the initiative has touched some of the most remote areas in the world, covering the&nbsp;Andaman and Nicobar Islands and the Gulf of Mexico.
The team documents marine environments,encourages local stakeholders to take charge of protecting these areas and raises awareness about the consequences of overfishing, plastic pollution and the importance of protecting the oceans.&nbsp;

Legendary oceanographer and National Geographic explorer, Dr. Sylvia Earle founded an initiative called 'Mission Blue', which aims at saving the marine world, one 'hope spot' at a time!
The initiative is backed by Rolex and identifies these hope spots, which are sensitive areas in oceans across the globe, that require protection.&nbsp;
Since its inception in 2008, the initiative has touched some of the most remote areas in the world, covering the&nbsp;Andaman and Nicobar Islands and the Gulf of Mexico.
The team documents marine environments,encourages local stakeholders to take charge of protecting these areas and raises awareness about the consequences of overfishing, plastic pollution and the importance of protecting the oceans.&nbsp;

rolex

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