Prices for used Rolex and Patek Philippe watches fell to two-year lows last month. The Bloomberg Subdial Watch Index, which tracks prices for the 50 most-traded watches by value on the secondary market, is down 42% since its high in April 2022. This may not necessarily be bad news, however. Higher interest rates, a decline in demand, and a jump in supply have caused a huge drop in price since the pandemic, which could either be seen as a poor economic signal or a positive one, depending on how you look at it.