Indeed, some Rolex models continue to see secondary price declines, primarily because of reduced demand at retail. However, it's important to note that the majority of Steel Sports Rolex Models are maintaining their value well. We anticipate that these particular watches won't dip below their retail prices anytime soon.

Rolex GMT Master II

Are Rolex watch prices still on the decline? - Rolex-GMT Master II

The GMT Master II stands out as one of Rolex’s most sought-after sports models, often commanding lengthy waiting lists, averaging around three years for a steel variant. Since the introduction of the Black and Blue Bezel GMT, fondly dubbed ‘The Batman’, in 2016, this range has experienced a notable surge in demand, resulting in increased premiums. Among the GMT Master II lineup, we anticipate that the following references will continue to carry premiums above their list prices for the foreseeable future, encompassing both Oyster and Jubilee variants:

Rolex Daytona

Are Rolex watch prices still on the decline? - Rolex Daytona

Rolex’s most coveted timepiece undoubtedly remains the Daytona. Its evolution, notably with the introduction of a ceramic bezel in 2016, initiated what we now recognize as the infamous ‘waitlist’. Demand for this iconic watch soared, with average wait times initially hovering around 3-6 months. Fast forward to today, and prospective buyers face an astonishing wait of approximately 10-15 years, assuming they’re fortunate enough to secure a spot on a waiting list in the first place.

Similar to the GMT Master II, the most sought-after Daytona models are all in steel variants, including the ‘Panda & Reverse Panda’ reference: 126500LN.

Rolex Submariner

Are Rolex watch prices still on the decline? - Rolex-submariner

The Rolex Submariner reigns as the world’s most coveted steel sports model. Although more accessible at retail through authorized dealers, steel variants of these watches still command a modest premium for buyers seeking one within a two-year timeframe. For those keen on preserving value, we suggest considering the following models:

Rolex Sky-Dweller

Are Rolex watch prices still on the decline? - Rolex Sky-dweller

The Rolex Sky-Dweller stands out as one of the most intricate timepieces ever crafted by Rolex. Securing a steel variant with either a blue or green dial demands a notable premium. Prospective buyers should brace themselves for a potential wait of around three years for the opportunity to acquire one. For those determined to pursue this horological gem, the model number to keep in mind is:

Blue/Green dial – reference: 336934

So what should you do?

While it’s unlikely that any of these Rolex models will dip below retail price, our guiding principle remains: invest in a timepiece you truly enjoy. While the idea of a watch retaining its value is appealing, fixating solely on this aspect could lead to dissatisfaction. It’s crucial to choose a watch that resonates with you, as focusing solely on its value might result in regret and potential financial loss if you decide to sell it later on.

For more help on this subject, check out our Article: Is a Rolex Watch a Good Short-Term Investment in 2024?