According to the latest figures from the US Department of Commerce, quoted by IDEX Online, watch and jewelry sales in the US fell 1.9% year-on-year during October, “the first month of negative growth since May 2020, when Covid lockdowns devastated the industry.”
Jewelry sales fell 2.2% and watch sales fell 0.5% during October, making for an average fall of 1.9%. October’s figure, according to the analysis, “appears to be part of a long, slow decline.”
According to another report by IDEX Online, used prices of used luxury watches – including Rolex, Patek Philippe, Audemars Piguet and other brands – were down 6.7% in November. This, according to the Subdial50 Index, which tracks prices for the 50 most traded luxury watches.
The Rolex Oyster Perpetual 41 Reference: 124300 was down 10.8% to $8,283 and the Patek Philippe Nautilus Reference: 5712/1A-001 went down 10.3% to $104,524.
