Watches
Omega, Cartier Models Gain as Rolex Keeps Falling
- Smaller Cartier, Omega watches outperform, Subdial data shows
- Bloomberg Subdial Watch Index is down 1.4% in a month
Some mid-tier priced luxury watches including models by Omega and Cartier outperformed as prices for the most popular and higher-end Rolex, Patek Philippe and Audemars Piguet models kept falling on the secondary market.
The Bloomberg Subdial Watch Index fell 1.4% in a month and is now down 16% over the past year. The index tracks the 50 most traded watches on the secondary market by value and consists mainly of Rolex, Patek and AP models. Higher interest rates, shaky economic growth and the collapse of cryptocurrency values have combined to push up the supply of used luxury timepieces and push down prices after a surge in 2021.