In the first days of January, watch industry news was dominated by the fact that prices on Rolex’s 2025 list were up by as much as 18 percent, with precious metal timepieces leading the surge.

Resale prices for the brand fell another 2.2% last quarter, as the overall Watch Charts Market Index lost 2.1% for the ninth straight quarter of declines. The Morgan Stanley analyst Edouard Aubin ...