Rising Demand for Rolex + Patek Philippe, Phillips' Hong Kong Auction & "Value" Buys | Market Wrap

Happy Thanksgiving from the extended WatchBox family! With the holiday season underway, the watch market continues to ebb and flow, and Mike Manjos joins us for another edition of Market Wrap to break it all down for us. As always, he kicks off the episode with some of the stand-out watches that made an appearance on the WatchBox trading floor this week. Among the pieces discussed are the Zenith Defy Classic Skeleton in titanium, a handsome Datograph Up/Down in rose gold from A. Lange & Söhne, and an Audemars Piguet Royal Oak; Ref. 15500. November has flown by, and with 2020 almost behind us, we’re taking stock of where the secondary market is today. We saw prices strengthen considerably over the summer, and while they are starting to steady, the cadence of trading and the overall volume is on the rise. Demand for Rolex sports models; particularly Submariners, both the new and now discontinued models, and GMT-Master II models, including Pepsi’s, Batmen, and Batgirls; is reaching new highs. Patek Nautiluses in stainless steel continue to bring a significant multiple on the secondary market, commanding more than the beloved 5070 chronograph in gold! We’re seeing a similar phenomenon with the F.P. Journe Chronomètre Bleu, whose secondary market value exceeds that of the CS Black Label, and even versions with rare mother-of-pearl dials. Similarly, the Lange Datograph Perpetual is going for not much more than what you are paying for a Datograph Up/Down. With all eyes on very spec