Rolex ranks number one in watch sales, according to The RealReal – Robb Report
One of the biggest players in the circular economy just released a report documenting how 2020 trends in luxury consignment are affecting the resale category in 2021 – and one watch brand dominates the findings.
Say it with us: Rolex. According to The True, the world’s largest online market for authenticated and returnable luxury goods, the Geneva-based manufacturer is its No. 1 watch brand in sales and only strengthened its position in 2020. Rolex timepieces are selling 1.1 times faster than a year ago, with some models capturing resale values well above retail, like the GMT-Master II “Batman”, which sold an average of 170 % of its original retail price in 2020, and a Rolex Sea-Dweller Special Edition Sommozzatori model that sold for $ 89,995, seven times its current retail value.
Notably, the resale values of the Rolex Explorer increased 15% year over year, while the average selling price of Rolex watches adorned with diamonds rose 44% in the second half of 2020.
Of the top 10 luxury brands with the highest resale values on the site, Rolex and Patek Philippe placed sixth and seventh respectively, with the latter climbing three places to claim its new spot on the list. (French luxury brand Goyard is ranked # 1.)
Other watch trends of note include an apparent comeback of the Franck Muller brand, whose watches saw the strongest growth in average selling price on the site, jumping 63% year-over-year, and big leaps in resale value for the Audemars Piguet Royal Oak. (up 24% year-on-year) and the Cartier Tank (up 25% from a year ago).
Even at the top of the market, the watches sold out quickly. A Patek Philippe Nautilus ref. 5722G, with a baguette-cut diamond bezel, sold in five days for $ 117,995, while a sky-blue-hued Richard Mille RM030 sold in 10 days for $ 107,495.