Hamza Masood is Business Development Manager at WatchCharts.com, who have kindly allowed us to share their monthly market updates.
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The first full month of the second half of 2024 continues to show a declining market. The WatchCharts Overall Market Index lost 0.8% in July, which is worse than the June performance we reported in our last update. Rolex prices fell -0.7% last month, while Patek Philippe prices fell -2.3% and Audemars Piguet prices fell -0.6%.
The chart below shows the monthly changes in the Overall Market Index and the three major brand indices this year. Our Overall Market Index recorded its second worst month of the year in July, while Patek Philippe recorded by far its worst month of the year (it is also the worst performing brand overall) and Audemars Piguet is back in the red after stagnating in June.
All four indices are currently at a three-year low.
What happened to Patek Philippe prices in July?
The July drop of -2.3% in the Patek Philippe Market Index is the largest monthly decline for the brand since October 2023. At the collection level, the graph below shows that the decline is almost entirely due to the Nautilus collection, which represents two-thirds of the watches in the brand’s index.
In comparison, prices for watches from the Aquanaut collection (Patek’s other sports watch collection) remained relatively stable throughout the month.
Six watches that are still increasing in value despite the market decline
Even though the market trend at the highest level has been declining for over three years, there are still watches that have defied this trend and even increased in value.
In the video below, we look at 6 of these watches that have increased significantly in value. For more market insights and analysis, visit the WatchCharts YouTube channel.
The best and worst collections in July
Some of the best and worst performing collections of the month are listed in the table below. Most collections that have experienced significant changes in value on a monthly basis are in the triple digit range and therefore do not have a significant impact on or represent the state of the market.
| brand | collection | July Delta % |
| omega | constellation | +2.7% |
| Breitling | Chronomat | +1.9% |
| omega | Rail Fighter | +1.6% |
| Audemars Piguet | Article 11.59 | -2.4% |
| Patek Philippe | nautilus | -2.5% |
| Rolex | Researchers | -2.7% |
Hamza Masood is a Business Development Manager at WatchCharts.com. For past market updates, visit https://watchcharts.com/articles/category/dispatch. For more market insights and analysis, visit the YouTube channel at https://www.youtube.com/watchcharts.
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