In recent years, the luxury watch market has experienced significant fluctuations, particularly concerning the availability of Rolex timepieces. As of late 2024, several factors have contributed to a noticeable reduction in waitlist times for popular Rolex models.

Impact of the COVID-19 Pandemic

The onset of the COVID-19 pandemic in 2020 led Rolex to temporarily halt production, resulting in a scarcity of new watches entering the market. This pause, combined with an increasing interest in luxury timepieces as investment assets, caused demand to surge and waitlists to lengthen considerably.

Changes in 'Exhibition Only' Policy

To manage the heightened demand and ensure customers could still experience their products, Rolex introduced the "Exhibition Only" policy. This initiative allowed authorized dealers to display certain models exclusively for viewing, preventing immediate purchase but enabling customers to try them on. However, as production and supply have stabilized, Rolex has relaxed this policy, making the "Exhibition Only" designation optional. Many dealers have since removed these signs, opting to sell display models directly to customers. 

Reduction in Wait Times

According to a recent study by Morgan Stanley, by the end of 2024, the wait times for sought-after models like the Rolex Submariner and GMT Master II have decreased to approximately 60 and 90 days, respectively. This improvement reflects a more balanced alignment between supply and demand. 

Cooling of the Pre-Owned Market

The pre-owned luxury watch market, which saw soaring prices during the pandemic, has been experiencing a decline since its peak in 2022. Factors such as the stabilization of supply chains and a decrease in speculative investments have contributed to this trend. As resale premiums shrink and inventory on resale sites rises, watches take longer to sell. This market shift benefits connoisseurs seeking rare watches but pressures less popular brands. Continued declines in secondhand values will challenge luxury watch brands to maintain prices. 

Conclusion

The combination of resumed production, policy adjustments, and a cooling pre-owned market has made acquiring new Rolex watches more accessible than in previous years. For enthusiasts and collectors, this shift presents an opportune moment to explore and purchase desired models with reduced waiting periods.