A tray of Rolex watches are seen on a dealer's stand at the London Watch Show on March 19, 2022 in London, England. Prices for luxury watches are near a two-year low on the secondhand market, reversing a rally that brought timepieces like Rolex, Patek Philippe and Audemars Piguet to record highs during the pandemic. The average price of a watch sold secondhand has fallen 31% since March 2022, according to WatchCharts, a luxury watch price tracker. At the market's peak, the average price of a luxury watch sold secondhand soared to $45,108, with buyers paying up to five times the retail value for in-demand watches. "It was interesting that the price hike mainly happened among three family-owned brands: Rolex, Patek Philippe and Audemars Piguet.

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Persons: Patek Philippe, Audemars Piguet, Paul Altieri, Audemars, Tim Stracke Organizations: London, Rolex Locations: London, England, German