Total supply remains near all-time highs even for discontinued Rolex models. That's according to the latest WatchCharts, Morgan Stanley research released last week.

WatchCharts analyzed 90 Rolex models from three distinct generations, including discontinued models, and the analysis shows that total supply remains at or near all-time highs for all segments. Median age of Rolex inventory increased by 25% in 2023.

Total supply levels for discontinued five-digit-reference models has jumped +32% in the last three years (-4% YoY). Total supply levels for discontinued six-digit-reference models has increased by +55% in the last three years (-4% YoY).

“Some dealers may still be holding out on realizing losses on older inventory purchased at higher prices,” WatchCharts cautioned in the report. “Which may put further downward pressure on prices in the future if the urgency to sell increases.”

Pre-owned inventory for current-production models saw the biggest jump over the past three years at +189% (+8% YoY).