In 2024, prices for sought-after used watches from Swiss brands like Rolex, Patek Philippe, and Audemars Piguet dropped to new three-year lows, marking the third consecutive year of decline in the premium pre-owned watch market. The Bloomberg Subdial Watch Index, tracking the 50 most traded models, fell nearly 6%, with Rolex prices down 5%, Patek Philippe down 4%, and Audemars Piguet down 7.5%. The market for luxury timepieces, which surged during the pandemic, has struggled since mid-2022 due to slowing economic growth and higher interest rates. While the 2024 decline was less severe than in 2023 or 2022, the index is still down around 13% over two years. Cartier was the only brand to see a price increase, rising about 4%, while Omega saw a slight dip of 1%.