(Photo credit: Rolex)
Despite being one of Rolex’s most technically advanced watches, the Sea-Dweller is currently gasping for air on the secondary market. The Sea-Dweller has the lowest value retention of any Rolex line tracked by Morgan Stanley and WatchCharts, trading at an average of 14.9% discount to retail.
Despite the watch’s engineering pedigree, the sluggish sales are the latest sign of trends favoring slimmer, more versatile models. With a depth rating of 1,220 meters, or 4,000 feet, it remains one of Rolex’s most capable tool watches.
Still, that level of engineering isn’t translating into market demand. Among the 131 Rolex watches tracked by WatchCharts, the Sea-Dweller collection has seen the steepest drop in value retention over the past 12 months, down 8.1%.
While sought-after lines like the GMT-Master and Daytona saw modest gains in early 2025, prices continue to soften for collections that trade below retail, including the Explorer, 1908 and Sea-Dweller.
Rolex value retention by collection. (Data: WatchCharts)
The gap between retail and secondary market prices continues to narrow, as Rolex raised prices twice in the U.S. in the past 12 months and may do so again in response to new 10% tariffs on Swiss imports. Today, only 53% of Rolex models command a premium, compared to 56% a quarter ago and 68% a year ago.
As trends shift toward slimmer watches, the Sea-Dweller’s bulk may be causing its unpopularity. With Rolex now developing thinner movements and embracing titanium cases, a refresh of the Sea-Dweller line will hopefully… surface.