Understand the latest trends in the watch market for August 2024, including brand price changes and market index analysis.

August 2024 Watch Market Update

As the first full month of the second half of 2024, the latest report from the luxury watch market research agency WatchCharts indicates that the watch market continues to show a downward trend. According to the latest data, the overall market index fell by 0.8% in July, performing worse than in June. Notably, the price of Patek Philippe PP dropped by 2.3% in July, marking the largest monthly decline since October 2023.

Market Index and Brand Performance

In July, Rolex prices decreased by 0.7%, while Audemars Piguet prices fell by 0.6%. These figures indicate that the overall market index had its second worst month of the year in July, with the indices of the four major brands currently at a three-year low.

Which Watches Are Still Appreciating?

Despite the overall downward trend in the market for three consecutive years, some watches have risen against the tide and actually appreciated in value. A recent video on MarketCharts highlighted six watches that have significantly increased in value, worthy of collectors’ attention.

Best and Worst Performing Series

Here are some of the best and worst performing watch series in July:

Patek Philippe Price Changes

At the brand level, the drop in Patek Philippe PP prices is primarily influenced by the Nautilus series, which accounts for two-thirds of the brand index. In contrast, the prices of the Aquanaut series remained relatively stable this month.

Data Source: WatchCharts