Keeping an eye on the secondary watch market trends can provide valuable insight, especially when iconic models experience price fluctuations. The Patek Philippe Nautilus Ref. 5711, a model that has long been at the centre of luxury watch hype, has become a focal point of these market shifts.
In 2021, Patek Philippe made headlines by discontinuing its best-selling watch the Nautilus Ref. 5711/1A-010, a stainless steel timepiece originally retailing for $33,000. With its sleek design and black-blue dial, demand soared, leading to waitlists spanning up to eight years, and secondary market prices skyrocketing into six figures.
However, recent data shows a shift in the pre-owned market. According to EveryWatch, a digital platform analysing auction house data, demand for the Nautilus, while still strong, is softening in terms of price. At its peak in 2022, the median price for the 5711/1A reached $131,504, but that figure has since fallen to $89,404—a nearly 30% decrease.
This decline mirrors a broader trend in the luxury watch sector, where pre-owned watch sales have seen their lowest volume in three years. While market enthusiasm for the Nautilus remains, the cooling prices could offer a rare buying opportunity for collectors who have long been priced out.
Pre-Owned Watch Market Hits Three-Year Low
The Nautilus, first launched in 2006 and available in 18 different variations, including precious metals and gem-set models, remains one of the most sought-after watches in the world.
