Singapore Rolex Daytona Market Trends: 1H 2023 Update


I’m sure many of us are familiar with the latest Morgan Stanley Report, which indicates that Rolex and Patek prices have continued to decline due to an elevated supply of watches. (Source: Bloomberg, July 25, 2023)

Here’s an update on the Secondary Market Prices of Rolex Daytona models from the beginning of the year to end July 2023 to verify the findings of the report. Do check out our previous post where we covered the Submariner and GMT Master II models.

Watches & Wonders 2023 unveiled a fresh lineup of Daytona watches, featuring the discontinuation of the Calibre 4130 models and the introduction of the new Calibre 4131 models, alongside various aesthetic modifications. For more information on the comparison between the two, refer to our guide here.



The iconic Panda and Godzilla Daytona 116500LN models, characterized by their white and black variants respectively, have long captured the hearts of enthusiasts. Notorious for their scarcity at Authorized dealers and waitlists that stretch up to a decade, these models experienced substantial price surges upon their March discontinuation announcement.

The Panda scaled to a pinnacle of S$48,000, whereas the Godzilla reached nearly S$40,000. Since June 2023, the Godzilla’s price has exhibited greater stability, while the Panda’s price fluctuated until settling by the end of July. Specifically, the Panda witnessed a S$300 increase, representing a 0.69% rise, while the Godzilla decreased by S$500 or 1.33% from their January levels.



Moving forward, attention turns to the Two Tone Daytona 116503 models featuring dials in Black 8-PT Diamond, Champagne, Black, and White. Astonishingly, unlike their steel counterparts, the two-tone Daytona models observed price increases since January 2023. Notably, the Black 8-PT Diamond dial encountered the most significant rise of S$1500, equivalent to a 4.17% hike. This trend is likely attributed to the limited production run and overall rarity of this specific dial.

The 116503 with a Black Dial showcased notable stability in pricing, undergoing minimal shifts even post the Daytona discontinuation announcement. It experienced a 3.23% increase, amounting to S$1000, compared to January 2023. In contrast, its white counterpart’s rise was less pronounced, with a 1.27% increase or S$400. This parity can be attributed to the similarity in dials between the new and previous Daytona iterations.

Of particular intrigue is the Champagne dial variant of the Daytona 116503, which historically held less popularity due to a lack of contrast. Surprisingly, this model has surged by S$1200, signifying a 4.15% increase. With the newer Daytona featuring a black subdial ring on the champagne dial, the older 116503 champagne version might potentially become a sought-after collectible due to its lower production volume.



Shifting focus to the Oysterflex Daytona line, we will be focusing on the popular dials. The Rolex Daytona Oysterflex 116518LN, known as the Yu Wen Le or Pikachu, occupies a prominent place within the Oysterflex collection and commands the highest premium. After a February price spike, it has reverted to January’s pricing, with a minor S$200 increase or 0.31%.

The Rolex Daytona Oysterflex 116515LN in Chocolate dial, have long been the most popular choice amongst the rose gold lineup until the introduction of the new sundust dial. At Watches & Wonders 2023, the chocolate dial, discontinued during the event, witnessed its pricing soar beyond S$70,000, only to subsequently adjust to a more sustainable level of S$55,000, reflecting a 1.79% decrease.

Continuing to explore the Oysterflex line, the Rolex Oyster 116519LN Ghost or Steel Dial earned distinction for its appealing contrast dial against a ceramic bezel. It encountered an impressive surge, experiencing a staggering S$6000 rise, marking an 11.31% increase. This unexpected growth can be attributed to heightened demand between June and July. This has long been an underappreciated model and we are happy to see it having it’s day.



Transitioning to the precious metal bracelet realm, the Rolex Daytona 116508 Yu Wen Le or Pikachu stands as a sought-after configuration. Despite its similar dial to the new 126508, it preserved its pricing distinction due to the superior contrast it offers. A modest increase of S$800 or 1.03% was observed from January.

The Rolex Daytona 116505 Chocolate with Full Everrose Bracelet in the Chocolate dial. In parallel with its Oysterflex counterpart, the Chocolate dial variant has undergone complete discontinuation. It has encountered a parallel destiny, experiencing a substantial price surge to exceed S$80,000 following the discontinuation announcement. However, since then, prices have moderated, settling at S$73,800. Notably, despite this adjustment, it represents a notable S$1800 increase, signifying a 2.5% uptick.

The Rolex Daytona 116509 in full white gold bracelet and blue dial. This model has remained undervalued over time, largely owing to the subtle elegance of white gold. Notably, despite its connection to the John Mayer collection, it has been somewhat overlooked in the market. The John Mayer blue dial has faced discontinuation propelling its price to an impressive high of S$70,850, then settling around S$65,900, manifesting a 3.13% increase.


Concluding with the Rolex Daytona 116508 in the John Mayer green dial, this model consistently ranks as the most volatile and speculative watch in the Daytona lineup, often used as a benchmark for the Rolex market.

For quite some time, the John Mayer model has been the subject of speculation, frequently associated with the prospect of discontinuation since as far back as 2020. Its price trajectory has been characterized by periodic increases, particularly as the Baselworld events draw near. This pattern held true this year as well, with a notable surge in March 2023, just before the commencement of Watches & Wonders 2023.

Following the official announcement of its discontinuation, prices underwent an extraordinary ascent, reaching staggering heights of up to S$180,000. It’s evident, however, that such exorbitant price levels were inherently unsustainable, prompting many owners to sell their watches, resulting in an oversupply. Consequently, a subsequent adjustment in prices occurred, now stabilizing at S$109,500. Despite this correction, an impressive S$8500 increase remains, representing an 8.42% upswing from January prices.



In summation, the Daytona’s trajectory aligns with a common pattern: post-discontinuation announcements, prices surge to extraordinary levels, only to gradually recede. This trend stems from a combination of buyers capitalizing on elevated prices and the resultant oversupply driving prices downward. A crucial point to bear in mind is that these discontinued models will see supply dwindling over time, potentially contributing to price rebounds. Similar patterns were observed with watches like the Rolex Hulk 116610LV and the Daytona 116503 Mother of Pearl dials.

Upon comparing prices across Submariner, GMT, and Daytona models, we do concur with the Bloomberg article to an extent. While certain models have indeed seen price drops, others have exhibited increases, as seen with the Daytona and Rolex Pepsi. Stability has also been evident in certain models. It’s imperative to delve beyond surface data and account for factors such as Daytona price surges post-discontinuation that may skew the data. Generally, Rolex model prices follow cyclical trends, descending in summer and ascending during holiday seasons.

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