Pre-owned Rolex prices have declined for more than two years as the resale market cools.
Still, nearly two thirds of Rolex models are worth more on the secondary market than at retail.
One big reason for the softening prices: there are a whole lot more watches available to buy.
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Morgan Stanley analyst Edouard Aubin said in a note that "it seems unlikely that secondary prices will stabilize in the near future."
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—, Morgan Stanley, Edouard Aubin
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Service, Business