The Patek Philippe Nautilus 5711/1A-010 and the Audemars Piguet Royal Oak Jumbo have been arguably the hottest models in the world over the past year, but the prices of both watches on the secondary market have dropped by about 10- 15%.
CHRONEXT CEO Philipp Man confirmed in an interview with WATCHPRO that the Patek Philippe Nautilus 5711/1A-010 and Audemars Piguet Royal Oak Jumbo have recently passed their peak prices, but he also believes that this may be a temporary drop, not a comparable watch broad trend.
Philipp Man said: “We have seen small price adjustments for very high-end watches like the Nautilus and Royal Oak, but this is a very specialized market and things may change again. In contrast, the relatively affordable Rolex The price of stainless steel sports watches continues to rise.”
Prices for the Patek Philippe Nautilus 5711/1A-010 and Audemars Piguet Royal Oak Jumbo rose wildly after production was discontinued last year, and have fallen back in recent months, according to Chrono24.
The Patek Philippe Nautilus 5711/1A-010 is currently valued at £155,442, down 16% from its February peak of £185,000 and still six times the retail price. The Audemars Piguet Royal Oak Jumbo has an estimate of £118,830, down from £130,000 in March but well above its list price of £27,900.
Asked if the falling prices for the Nautilus and Royal Oak were a sign of cooling in the wider market, Philipp Man insisted that was unlikely to happen, given the current imbalance between limited supply and surging demand . “The shortage appears to be permanent and eventually we may see some adjustments, but structurally the secondary market price will remain above retail co-valence for a long time to come,” he said.