2021 was a crazy year for watches. Prices I mean. Rebounding from the plunge in 2020 during the start of the pandemic, prices in 2021 were skyrocketing as demand for luxury watches surged. What is the market going to be like in 2022?
Rolex prices had a big surge during late 2021. Modern Daytonas and GMTs were the winners. The 116500ln rose to around 380k hkd brand new while other precious metal versions also rose to new highs. Will this continue in 2022? I think it is very likely. Due to the lack of supply and the increase of demand everywhere, there is no reason for a big drop of prices. Buying power is strong as some young buyers enter the market after cashing out from crypto currency which rose a lot in 2021. Although it is possible to have some price corrections for overheated models, a big drop is nearly impossible. Rolex has long been tough in history through many ups and downs. During many economic downturns and worldwide crisis, Rolex have maintained its value very well. Among them, the Daytona is always the best choice for investment. Neo vintage watches are also attracting attention. Those in good condition are also very good choices to invest your money in. While modern Rolex and neo vintage Rolex are doing well, vintage Rolex market has been soft for the last year mainly because flights have been suspended and buyers cannot travel to view the watches themselves which is very important. It is expected that if flights continue to be suspended, the vintage Rolex market will not be very alive in 2022.
Another king of watches Patek Philippe also did very well in 2021. With the olive Nautilus 5711 and the Tiffany Blue 5711, the brand is marketing itself differently from its traditional way. Worn by NBA stars, rappers and soccer stars, the classic traditional image of PP is overridden by its young, trendy new look. In 2022, the craze for Nautilus and Aquanaut will likely continue. Undervalued dress watches may not be craved by new young buyers while seasoned collectors may find them attractive. Vintage Nautilus and Aquanaut are also doing well. Smaller size ones like the 3800 and 5060 are gaining popularity. They are good investment choices since they are still undervalued. With the Gerald Genta auction coming up soon, the Nautilus will likely see new highs in prices.
2022 is the 50th anniversary for AP Royal Oak. The Jumbo 15202 will be discontinued and a new Jumbo is expected to come. It is for sure that Royal Oak prices will skyrocket this year. Again, with the GG auction coming soon, the RO will be gaining a lot of popularity. Another factor for the limited supply of AP watches is the withdrawal of dealership from authorised dealers. AP will deal watches themselves instead of letting Ads to handle that. The tightening supply of watches will certainly impact the prices very much. Smaller ROs like the 4100 could be good investment choices since they are still undervalued. Other than that, Royal Oak Offshores limited editions are also good for investment if prices are not high. However, since there are too many versions for the ROO, one must remain cautious while investing.
Many expect 2022 will be a year for Vacheron Constantin Overseas to rise. This is mainly because Overseas are still not as expensive as Royal Oaks and Nautilus. The blue Overseas have been getting hotter and hotter since early 2021 and prices are going up now day by day. Generation 1 and generation 2 Overseas are still very much undervalued and they are good investment choices in 2022. The blue Fifty Six is also a nice choice. As part of the holy trinity in haute horology, VC is likely to make a comeback in 2022.
What about independent brands? FP Journe had a strong year in 2021 with auction results being dazzling. This is likely to continue in 2022 as more young collectors are investing in The next FPJ in 2022 could likely be MB&F.. Similar to FPJ, MB&F have been around for some years making unique timepieces. Many expect it to have a booming year in 2022 due to its limited production numbers and impeccable quality and design.