Bangkok Real-Clearing Price Index — Thai Watch Market
This is the monthly Bangkok pre-owned market price index published by Thai Watch Market — covering 47 key references from Rolex, Patek Philippe, Audemars Piguet, Omega, Cartier, Tudor, Hublot, Panerai, and IWC.
Purpose:
- For sellers — know the real price before negotiating with dealers
- For buyers — know fair market price vs inflated Chrono24 asking
- For collectors — track portfolio trends
- For insurance — use as market value for assessment
Latest Index — June 2026
Rolex — 9 references
| Reference | Low | Median | High | YoY change |
|---|---|---|---|---|
| Submariner 126610LN | ฿385,000 | ฿420,000 | ฿465,000 | -1.2% |
| GMT-Master II Pepsi | ฿705,000 | ฿745,000 | ฿820,000 | -1.4% |
| GMT-Master II Batman | ฿650,000 | ฿685,000 | ฿742,000 | +0.4% |
| Daytona 116500LN | ฿1,450,000 | ฿1,580,000 | ฿1,720,000 | -0.8% |
| Datejust 41 126334 | ฿245,000 | ฿285,000 | ฿320,000 | -1.0% |
| Day-Date 40 228238 | ฿1,180,000 | ฿1,290,000 | ฿1,420,000 | -0.2% |
| Explorer 36 124270 | ฿295,000 | ฿330,000 | ฿365,000 | +1.5% |
| Sky-Dweller 326934 | ฿585,000 | ฿650,000 | ฿730,000 | -1.2% |
| Sea-Dweller 126600 | ฿475,000 | ฿520,000 | ฿580,000 | -0.9% |
Patek Philippe — 4 references
| Reference | Low | Median | High | YoY change |
|---|---|---|---|---|
| Nautilus 5711/1A | ฿7,400,000 | ฿8,150,000 | ฿8,900,000 | -1.6% |
| Nautilus 5712/1A | ฿5,800,000 | ฿6,450,000 | ฿7,200,000 | -1.1% |
| Aquanaut 5167A | ฿5,200,000 | ฿5,750,000 | ฿6,400,000 | -0.9% |
| Calatrava 5227 | ฿2,800,000 | ฿3,200,000 | ฿3,600,000 | -0.7% |
Audemars Piguet — 3 references
| Reference | Low | Median | High | YoY change |
|---|---|---|---|---|
| Royal Oak 15500ST | ฿2,550,000 | ฿2,750,000 | ฿2,950,000 | -1.1% |
| Royal Oak 15400ST | ฿2,850,000 | ฿3,150,000 | ฿3,450,000 | -0.9% |
| Royal Oak Offshore 26420 | ฿3,400,000 | ฿3,800,000 | ฿4,200,000 | -1.3% |
Omega + Cartier + Tudor — 9 references
| Reference | Low | Median | High | YoY change |
|---|---|---|---|---|
| Speedmaster Moonwatch 310.30 | ฿185,000 | ฿205,000 | ฿225,000 | -0.5% |
| Seamaster 300M 210.30 | ฿145,000 | ฿162,000 | ฿185,000 | -1.2% |
| Aqua Terra 220.10 | ฿165,000 | ฿185,000 | ฿215,000 | -0.5% |
| Cartier Santos Large | ฿240,000 | ฿275,000 | ฿315,000 | -0.4% |
| Cartier Tank Must | ฿95,000 | ฿112,000 | ฿135,000 | -0.9% |
| Cartier Ballon Bleu 40mm | ฿155,000 | ฿185,000 | ฿225,000 | -0.5% |
| Tudor Black Bay 58 | ฿115,000 | ฿125,000 | ฿138,000 | -0.8% |
| Tudor Pelagos 39 | ฿145,000 | ฿158,000 | ฿172,000 | -0.6% |
| Tudor Black Bay GMT | ฿138,000 | ฿152,000 | ฿172,000 | -0.7% |
Methodology
Data sources (four streams)
- Thai Watch Market transactions (weight 50%), 580+ real Bangkok closing transactions Jan–May 2026
- WatchCharts sold index (weight 25%): global closed transactions, used as cross-check
- Auction House Thailand results (weight 15%) — quarterly Bangkok auction results
- Bangkok dealer interviews (weight 10%) — monthly interviews with seven dealers
Weighting factors
Every transaction is weighted by:
- Condition (NOS, Lightly worn, Worn, Polished), at least 20% of weighting
- Box/papers completeness — full-set vs no-box vs loose
- Year of manufacture — 2022+ premium, pre-2018 discount
- Warranty origin — TH vs overseas
Index frequency
- Monthly — 47 key references
- Quarterly — full report with trend analysis
- Annual — review with forecast
YoY Trend — June 2025 vs June 2026
| Segment | YoY change |
|---|---|
| Rolex Sport Steel | -0.8% (stable) |
| Patek Nautilus/Aquanaut | -1.2% (continued correction) |
| AP Royal Oak | -1.1% (correction phase) |
| Omega + Cartier | -0.6% (stable) |
| Tudor | -0.7% (stable) |
The market is entering a "rationalised" floor — the price decline rate slowed from 2024 (avg -2.8%) to 2025–2026 (avg -1.0%).
Index Owner — Khun Pim
The index is maintained by Khun Pimchanok Wattanasethi:
- Background in luxury-goods analysis for Southeast Asia
- 9 years in the luxury watch market
- Author of the Bangkok Real-Clearing Price Index since the inaugural issue in January 2025
Every methodology is peer-reviewed by Khun Naru (authentication accuracy) and Khun Ton (customer-side verification).
Use Cases
Sellers
- Benchmark for dealer negotiation
- Timing decisions — wait vs sell now
- Compare dealer offer vs market
Buyers
- Know how far Chrono24 asking deviates from reality
- Compare dealer markup across stores
- Identify fair counter-offer range
Collectors + investors
- Track portfolio value monthly
- Identify reference-level trends
- Use as insurance market value
Insurance underwriters
- Monthly-updated market values
- Replacement value reference
- Audit trail for claims
Access
- Monthly summary (free) — newsletter signup at thaiwatchmarket.com/newsletter
- Full quarterly report (฿2,500/issue) — includes trend analysis, sector breakdowns, forecasts
- API access for insurance + collector use — contact via LINE
Data sources:
- our pricing notes from the Bangkok pre-owned market
- Auction House Thailand
- WatchCharts sold index
- Bangkok dealer survey (7 dealers, monthly)
- Buyer/seller interviews (from our work in Bangkok's pre-owned market+/month)