[F]Will Rolex be the undisputed king of watches in 2024?

That’s interesting. When I think of the monumental Rolex releases of 2024, I think of the 2023 watches. In 2023, Rolex released a surprising amount of “wild” watches. The brand dares to offer a “left-handed” GMT-Master II, a day-date model with three jigsaw dials including 12 inspirational words and 31 emojis, an Oyster Perpetual with colorful balloons on the dial, and a tool-like We have launched the titanium version of the GMT Master. Yacht Master 42. Rolex surprised us with bold design and functional innovations in 2023. The novelties of 2024 were more conservative and less so. Memorable. A question arises here. Will Rolex still be the undisputed king of watches in 2024?

While Rolex’s new product offering this year hasn’t been all that exciting or surprising, 2024 could be described as a “memorable” year for the brand itself. One reason for this is the loss of its role as an F1 sponsor. Crown had been sponsoring the biggest motorsport circus on the planet since 2011, but was brutally overtaken by LVMH. Rolex initially paid the F1 organization $10 million per year, which increased to $50 million per F1 season. When it was rumored that LVMH would pay $150 million a year for “lace,” Rolex walked away from the course.

This can be seen as a victory for LVMH and its luxury brands, including watchmaker TAG Heuer, which has long had strong ties to the world of motorsport. On the other hand, it’s not necessarily a loss for Rolex. As we wrote earlier this year about Rolex losing its role as a sponsor of F1, after 14 years the brand may be leaving the world of energy drinks with pride. After Rolex cleans your mouth, you can fully concentrate and enjoy a healthier flavor in other motorsport classes such as endurance racing, classic car racing, and luxury events like the Pebble Beach Concours d’Elegance. You can.

Will Rolex remain the undisputed king of watches in 2024?

The short answer to this article’s big question is “yes,” but let me elaborate on why Rolex remains the king of watches. First of all, in terms of sales, this brand is by far the most successful of the Swiss luxury watch manufacturers. When we talk about Rolex, we talk about huge numbers. Last year, Rolex produced 1.24 million watches with a total retail value of CHF 15.15 billion (ex-factory CHF 10.1 billion), according to Bloomberg. Sales in 2024 are likely not to be much different, and sales volumes may be down slightly, but average prices are making up for it.

Rolex will also regain the title of world’s best-selling watch, which it lost to the Apple Watch in 2017. Apples and oranges, I know, but still. When the Apple Watch debuted in 2015, it took over the world like wildfire. Many Swiss luxury brands held their breath and developed smartwatches in reaction. However, by 2017, the Apple Watch had overtaken all traditional Swiss watch brands, including Rolex. Apple sold 33 million smartwatches and Switzerland sold a total of 24.3 million watches. This year, Rolex will outsell Apple in watch sales.

secondary market price

We’re suffering from luxury fatigue and watch sales may be down, but Rolex is still going strong. Yes, in the parallel market, you can also see that the numbers for Rolex watches are going down. Retail prices are +19.6% in July compared to +21.4% in April this year. But these numbers provided by Morgan Stanley are very impressive. Only Patek Philippe is better and Rolex is better than Audemars Piguet. There is a correlation between the decline in prices on the parallel market and the availability of watches at authorized dealers. According to Forbes, wait times for popular models are decreasing. The wait time for a Submariner this year was about 68 days, compared to 105 days in 2023. This is good news for 2025, as this trend will likely continue.

grasp things firmly

If a new “sub” is less desirable than a vintage one, but reliability is an issue, there is a Rolex Certified Pre-Owned program. The service launched in late 2022 and has continued to expand to over 5,000 active listings from over 60 authorized retailers worldwide as of July 2024. Morgan Stanley estimates that the total secondary market value is approximately US$25 billion.

Rolex’s market share is 44%, equivalent to a secondary market value of USD 11 billion. Morgan Stanley also estimates that the total value of Rolex’s CPO is approximately US$125 million, representing approximately 1% of the total secondary market. It’s clear that Rolex is trying to control every aspect of the watch market, and the brand is succeeding.

What did you think of Rolex’s theme for the past year, “Harmony of Contrast”?

Rolex’s theme for 2024 is “Harmony of Contrasts.” The biggest contrast was definitely the yellow gold Deep Sea. Although some might not call it harmonious, the 44 x 17.7mm watch in full yellow gold with a blue dial and bezel certainly made a splash. The giant Deepsea (136668LB) is certainly bold, but it’s nothing like the 2023 Jigsaw Day-Date. Rather, the Deepsea is a “shock and awe” watch dressed to impress. The brand has a reputation for creating tool watch-like pieces using precious metals, so the full gold Deep Sea isn’t exactly a shocking new offering in that sense. Either way, it’s not as creative or groundbreaking as Rolexes with puzzles and balloons on the dial.

Speaking of precious metal Rolex, 2024 is also the year in which the platinum-clad 1908 debuted. Rolex launched the 1908 last year as a replacement for Cellini dress watches. The ice blue dial is exclusive to platinum, and in the case of the 1908, the dial is decorated with a rotating engine. Releasing the 1908 in platinum to complement the gold version was a logical step, as was equipping it with a light blue dial, so this watch was no surprise.

Bruce Wayne sneaks in

Every new Rolex sports model needs a nickname, and the steel 2024 GMT-Master II with its black and gray 24-hour bezel and Jubilee or Oyster bracelet is no exception. The more subdued GMT-Master II (126710GRNR) quickly earned the nickname “Bruce Wayne” as the bold black and blue version was dubbed “Batman.” But is it the right nickname? With a bezel with a black and gray Cerachrom insert, this 40mm watch’s appearance is anything but millionaire-esque. And the green GMT hand doesn’t change that.

Stable but not surprising

What else was new? A few new Day-Date references, a new glamorous Daytona chronograph, and a pink gold Sky-Dweller with a gray dial come to mind. These aren’t mold-breaking watches like the creative new products of 2023, nor are they as logically innovative as the titanium Yacht-Master 42 (which, by the way, you can try out for yourself next Monday) (planned).

I believe that 2024 will not go down in the history books as a notable year for new Rolex watches. Perhaps 2023 was such a surprise that the watch community, including myself, was expecting too much. That being said, 2024 will be a forgettable year, so 2025 will be even better. Perhaps we can expect something niche like a titanium Milgauss again?

How did you experience Rolex in 2024? And what do you expect and hope for in 2025 from the brand that is and perhaps forever will be the king of watches?