The New Rolex Model for 2024 - Name Revealed!
With the imminent discontinuation of the Yacht-Master II series, speculation abounds regarding Rolex's forthcoming timepieces, and recent trademark filings offer intriguing clues. As customary with Rolex, each series undergoes trademark registration before its official unveiling, and the emergence of new trademarks under Rolex S.A in 2023 fuels anticipation for potential releases in 2024.
Land-Dweller
Among the trademarks, ‘Land-Dweller’ stands out as the latest entry in the trademark journal. This name suggests a new series possibly akin to the acclaimed and intricate Sky-Dweller. While its exact functionalities remain shrouded in mystery, conjecture hints at its suitability for rugged terrains like deserts or jungles, possibly expanding Rolex’s explorer line. The prospect of another sports watch from Rolex is indeed exciting!
Space-Dweller
Fascinatingly, Rolex has recently protected the trademark ‘Space-Dweller,’ which dates back to 1966. Originally associated with the Rolex Explorer aboard the Apollo 8 mission to the moon, the Space-Dweller’s legacy was dormant until its recent resurgence in 2021. This revival suggests a potential expansion of the Sky-Dweller series, reaching for new heights, possibly in anticipation of the upcoming lunar mission in 2025. While its exact purpose remains speculative, the Space-Dweller may be tailored for space exploration, adding another dimension to Rolex’s esteemed ‘dweller’ collection.
Oystermatic
Lastly, ‘Oystermatic’ appears less as a watch name and more as a functional feature, indicated by its trademark classification under ‘parts of watches’. The specifics of this new functionality remain a mystery, sparking curiosity as to its potential applications. Speculatively, it could introduce innovative methods to enhance power reserve, akin to Omega’s Spirate System, promising advancements in Rolex’s timekeeping technology.
So what is coming up next from Rolex?
As for Rolex’s future moves, the company’s penchant for replacing discontinued models with new offerings is well-documented. While predicting Rolex’s precise course of action is challenging, the pattern suggests an exciting April 2024 release schedule, poised to captivate enthusiasts and collectors alike.
Take a look at our recent article around The Rolex Watches that will discontinued in 2024
The Rolex watches that will be discontinued in 2024
Yes, you've read it correctly. This is a confirmed list of watches set to be discontinued from the Rolex Watch catalogue in April 2024. How do we know this well-kept secret? We've been in touch with various authorised dealers from different brands and have collated consistent information across all of them. With a 99% degree of certainty, we can say that the following watches will be discontinued at the upcoming Watches and Wonders event.
Yacht-Master II
All watches from the Yacht Master II collection will be discontinued, encompassing all variations in steel, Rolesor, and full gold pieces. While this news may not surprise many Rolex collectors, it deals a significant blow to the Yacht Master line, which first debuted in 2007. The decision to discontinue stems from the Yacht Master II’s sales performance falling short of its smaller siblings, the Yacht Master and GMT Master. While we might see some fluctuations in its price, its lack of popularity suggests limited potential for a resurgence.
Datejust Motif Dials:
Another notable discontinuation is the Rolex Datejust Motif dials, known for their rarity and difficulty to acquire. As of April 2024, all variations of the motif dials found on steel and Rolesor models in 36mm and 41mm sizes will cease production. Among the most sought-after were the green palm 36mm Datejust and the green & blue motif Datejust 41. Expect these watches to appreciate in value, potentially by around 10% over current secondary prices.
Oyster Perpetuals – Coloured Dials
A significant blow to new and upcoming Rolex collectors is the discontinuation of the Oyster Perpetual coloured dials introduced in 2020. When these dials debuted, they enjoyed immense popularity, with most fetching a substantial premium, especially in the larger case sizes. With news of their discontinuation, these relatively affordable pieces are poised to skyrocket in value, with an estimated 30% increase over current premiums.
So what is coming up next from Rolex?
Given the prominence of these discontinued models, one can reasonably expect Rolex to introduce replacement models. Stay tuned for our next article – The New Rolex Model for 2024 – Name Revealed! for further insights.
Will the Rolex Pepsi be discontinued in 2024?
The fate of the Rolex GMT Master 2 - 126710BLRO, affectionately known as the Pepsi, hangs in the balance as speculation mounts regarding its potential discontinuation. Having graced the wrists of enthusiasts since its introduction in 2018, the iconic timepiece faces the possibility of being retired, particularly with the 70th anniversary of the Rolex GMT Master 2 on the horizon in 2024.
Factors Influencing Discontinuation
One prominent factor contributing to the swirling rumors is the reported manufacturing challenges in creating the signature red and blue ceramic bezel of the Pepsi. Authorized dealers have hinted at these challenges, adding an air of uncertainty to the watch’s future. While taking such rumors with a grain of salt is prudent, there is a discernible suggestion that a reduction in supply may be on the horizon as Rolex potentially navigates a transition to a 41mm case size.
Anticipated Changes to the GMT Master 2
If the discontinuation rumors prove true, speculation arises about the potential changes that may accompany a revamped GMT Master 2. Foremost among these predictions is the upgrading of the movement, coupled with the adoption of a larger 41mm case size. Drawing parallels with the Submariner, which underwent a similar size increase in 2020, such modifications would align with Rolex’s pursuit of innovation and consistency across its lineup.
Potential Successor to the GMT Pepsi
In the event of the Pepsi’s retirement, enthusiasts are left to wonder what Rolex might introduce in its place. Speculation points towards the resurrection of the GMT Coke, now featuring a ceramic bezel and available on both the oyster and jubilee bracelet options. With its original introduction dating back to 1983, the GMT Coke has a storied history and remains a coveted choice among collectors. Opting for a darker-colored bezel could also alleviate manufacturing challenges, making the introduction of this model a logical and headache-free transition for Rolex.
When will we know?
Rolex Market Update: Buy, Sell, or Invest? Our Insight.
You might be wondering what's happening in the watch market, and we're here to provide you with the latest market update.
After reaching historic highs in February 2022, we are currently witnessing a significant dip in the prices of preowned watches. While this may prompt some to rush to their safety deposit boxes and consider selling their watches on the open market, it has also created a fantastic opportunity for those who previously saw their dream watches reach astronomical prices, making them unattainable. Now, these watches appear to be more affordable.
So, what's causing this sharp decline?
The cost of living crisis, which has affected the prices of essential goods like food, fuel, and raw materials, combined with the ongoing high levels of inflation, has created the perfect storm for reduced buying activity in the luxury sector. To be clear, people are still buying watches, but they are primarily serious collectors who now see an opportunity to purchase their desired watches at prices at least 25% lower than the highs we witnessed last year.
Is the market currently at its lowest point?
At present, the market seems to have decreased by at least 25%, bringing preowned watch prices for stainless steel models back to what we might consider “normal” levels. By “normal,” we mean prices that reflect a sustainable increase, not below retail.
So, what should you do? Should you buy or sell?
Your decision depends on your current situation. If you bought a watch with the intention of making a quick profit, I must say that this is not an ideal time for you. You may want to consider holding onto your watch or, at worst, selling it promptly.
However, if you are a genuine collector looking to purchase a high-demand watch at a fair market value, there has never been a better time to find the watch you’ve always desired.
What does the future hold for watch investing?
As a watch enthusiast and collector, I would advise against viewing watches solely as commodities to invest in. Instead, I recommend buying a watch that you truly enjoy and love. I predict that the market will continue to grow, albeit not reaching the highs of 2022.
We may see annual growth rates of 5-7% for stainless steel high-demand pieces and around 2-3% for bi-metal pieces. As for solid gold and other precious metal watches, it’s possible that their prices may dip below retail for the foreseeable future.
7 tips to retain the value of your Rolex watch
I know what you are thinking, ‘Rolex watches always retain their value’, and that statement is indeed true, but are there things that could reduce the value of your watch? Yes and here are seven tips to help you retain the value.
Tip 1: Wear your watch frequently
Now, this might come as a surprise but not wearing your watch can affect the movement over time. Think of it like a car sitting on your driveway for 2 months. On the outside, it will look fine but under the bonnet, the lack of mobility will inevitably lead to parts seizing up or failing. We would recommend cycling your watch collection to ensure all your watches get plenty of wrist time to keep the movement active.
Tip 2: Condition is key
While wearing your watch as much as possible is always good, it is always worth trying to avoid potential hazards which could potentially scratch, dent, or break components of your watch. The most common areas for these occurrences are the sapphire crystal face, the side of the lugs, and the clasp. These areas of your watch are normally close to table edges, door handles, and sometimes concrete floors. And while it is not the end of the world if you do scratch your watch, it will cost up to £200 to get it polished and back to looking new again.
We would recommend keeping one of our Clam Single Watch Travel Cases with you just in case you are doing anything that might cause you to damage your watch or if you need to secure your watch while in storage.
Tip 3: Keep everything that came with the watch
This might seem like an obvious tip, but you will be surprised at how many people throw away the box, receipt, and even the paperwork for the watch. But if a secondary market dealer was to tell you that the box, papers, and purchase receipt could be worth 10-20% of the value of the watch, you would defiantly think differently!
This is why we would recommend you keep hold of everything that comes with your watch which would normally consist of:
- The Watch (Obviously)
- Green Presentation Box (with cushion)
- Cream outer Box
- White sleeve with sticker
- White hangtag
- Green certified tag
- All links (If any are removed from the watch)
- Bezel protector (Sometimes these are excluded)
- Rolex manual
- The warranty card with the Rolex green wallet
- Original Purchase Receipt
Tip 4: Keep it original
Another tip that might be obvious to the seasoned collector but keeping your watch original is vital to value retention.
When we say ‘original’ a secondary market dealer would say ‘factory’. This would mean that all parts of the watch including the bracelet, dial, and hands remain with the watch even if it goes in for a service. Rolex has been known to replace dials, bezel inserts, and original bracelets on vintage models when they come in for a service. While it is nice to have something new and, in most cases, improved on your watch after a service, collectors go mad for original parts even if they are heavily worn.
So, if the watch does go in for a service, be sure to keep all original parts for your watch. This will increase the value by a possible 30% on certain models.
Tip 5: Stay away from aftermarket
Very similar to tip number 4, we would recommend staying clear of anything that is considered aftermarket. This includes adding gems to the watch by drilling holes into the metal itself. Other things we would recommend staying clear from are after-market bezels or dials. While these are not permanent, they are unnecessary and will require you to keep hold of the original parts later.
Tip 6: Beware of water damage
One of the costliest repairs for any Rolex watch is the frequent mistake to not screw the crown down properly before entering the water. I have unfortunately seen many watches that have had water creep into the movement and to put it simply, water and oil do not mix at all. This will lead to an extensive repair cost of around 7-10% of the value of the watch.
Tip 7: Don’t over-polish your watch!
As mentioned in tip number 2, a professional polish can cost between £100-£200 (depending on the metal), and frequent polish can create a domed mirror effect instead of a flat mirror effect. This is one of the few ways you can tell a watch has been over-polished or not polished correctly.
Another unfortunate outcome of amateur polishing is rounding the edges of the lugs. Some secondary market dealers would refer to the watch as being ‘sharp’. This generally means that the edges of the watch are sharp and have either not been polished or had a professional polish.
It’s hard to say if polishing affects the value as some buyers like their watch looking new, however, depending on the model and age, we would advise asking a second opinion before polishing your watch.
In conclusion
The general rule of thumb is to enjoy your watch but be mindful that keeping it in great condition will help you reduce any potential costs later on. After all, no one likes unexpected services or costly repair bills so by following these 7 tips you should be able to keep your watch in top condition for yourself to enjoy or move on to the next potential owner.
Are we witnessing a Rolex Market Crash in 2023?
You might be reading this article thinking, ‘Rolex crashing? This is just a wild conspiracy that has never happened before and surely won’t be happening now!’...
To be honest I was the same as you. I thought the watch giant that had the largest share of the luxury watch market can’t be stopped with its amazing marketing model of restricting the supply of certain models and placing individuals like myself on a list that had no guarantee of being offered the watch at no certain time.
However, in the past 6 months, we have been noticing a huge wave of prospecting Rolex owners that have been allocated new watches at retail, simply not coming forward to pick them up.
What is causing this to happen?
Firstly, we are in a cost-of-living crisis where fuel and food are at record highs which is placing people in uncertain positions to keep cash on hand in case things get worse.
Secondly, watch prices are going up in record percentages. This includes all the big swiss watch brands including Patek Phillipe, AP, and Omega. We also saw multiple increases in the same year from Rolex. In the year 2022, we saw a 7% increase in January followed by a further 5% increase in September.
Thirdly the ability to flip/sell watches for silly profits is getting harder. Many people enter the game to buy and flip a watch for a quick buck. Now the profits are getting smaller as some smaller secondary market dealers are carrying too much inventory and are finding it hard to move less desirable pieces at a premium price.
Lastly, the availability of some models Is increasing after the opening and restarting of production at the Rolex factories in Switzerland. Accompanying this news is the story from WatchPro of a new Rolex factory opening in the near future. This would suggest that one extra factory joining the current three in operation would boost production by approximately 25%.
Now, arguably most of these watches that are being left in the hands of the authorized dealer are models such as the Date just 31, and 36. This is understandable as these are not the hottest watches to pick up.
Who else is affected?
If we look at Rolex’s younger brother Tudor who also has a few desirable pieces such as the Black Bay Chrono Panda & Reverse Panda, these once hot models were being sold £1,000 over retail and are now being placed into the window as the first come first purchase.
Typically, the authorized dealer’s way of keeping the flames alive for these desirable models would be to keep them out of sight and offer them to clients who might enquire. With these models being placed into the window, we can hazard a guess and say that they are struggling to shift them to new and prospecting owners.
Moving back to Rolex, and while we are not seeing Daytona’s, GMT’s, or Submariners popping into the front window displays we are noticing that the grey market dealers are offering less and less return on these models. With a 2021 Root beer, GMT in mint / unworn condition being offered at £14,500 (December 2022) Previously in February 2022 these watches were fetching close to £21,000 to a dealer and £25,000 on the open market.
Can we call this a correction or a crash?
Well, we would deem a ‘correction’ a mere 20% reduction from the highs we saw in early 2022. However, we are currently working on an average drop of around 30-40% across the professional sports range with a slightly lower drop on the classic watches. With this in mind, we would be inclined to label this occurrence as a market crash.
So what does this mean for Rolex watch owners right now?
Well, it depends if you are a retail buyer or a resell buyer. For all those buying at retail, you are still quids in and the likely hood of watches dipping below retail on the secondary is unlikely.
If you are a resell buyer who has paid anything above retail, we recommend keeping hold of the watch and enjoying it for what It is worth. Yeah, you might have spent too much but if you were willing to pay £45,000 for a Daytona, you probably wanted it bad!
With this all being said, can this situation get worse?
While it is hard to say, we would say it will probably get worse before it gets better.
With a 12–18-month recession on our hands, we can expect people to be more careful with their money, this would probably mean that collectors be more selective around the models they want and possibly let some models go from their current collection.
We would predict that this would bring the market down to a level we say back in 2018 with demand for certain models such as the Daytona being high but other sports models which were made from steel and gold (Bimetal) or solid gold to be placed in the windows of authorized dealers.