Brooks Koepka, one of the best golfers on the planet, won his 3rd PGA Championship yesterday in great style… wearing one of the most grail worthy watches on the planet, the Rolex Daytona 116500 aka, “Panda”.
According to Paul Altieri, founder and CEO of Bob’s Watches, the largest retailer of pre-owned Rolex watches, this particular watch is a barometer of whether the price of a Rolex will rise or fall. A year ago, a pre-owned “Panda” sold for about $50,000.
“Rolex Daytona. One of my favorite customers once quoted – you buy any Rolex model as long as it starts with a ‘day’ and ends in ‘tona,'” Altieri said.
“The Rolex Daytona “Panda” dial has served as a bellwether indication of where quality and prices are in the secondhand market today. Altieri continues, “This model peaked at around $50,000 USD a year ago and then slowly dropped to around 32k five months ago. The decline began in Today they are slowly coming back and are now around $34k to $35K which indicates that the market is still very resilient.”
Today, Bob’s Watches has one (1) on their site selling for $34,995. That’s a pretty steep drop as the market has softened over the past year, but still far from the current retail price of a new Rolex selling for $15,100. The only problem is you can’t get one at retail and the secondary market is the only game in town.