It’s a good time for luxury watch collectors to buy a used cheap fake Rolex Daytona Oysterflex watch. Especially if you can find one in yellow gold. The price of that perfect copy Rolex watches have dropped 4% since April, according to the Bloomberg Subdial Index, mirroring the slump in the bullion market that began when the US and Israel launched their war on Iran.
Overall prices for the 13 gold-cased models in the index, which tracks the 50 most-traded replica watches UK by transaction value, are broadly flat since April. That marks a sharp slowdown from 2025, when those 13 timepieces recorded an average gain of nearly 9% as gold prices surged.
Gold fluctuations are “certainly becoming an increasing problem when the cost of precious metals is increasing as fast and as much as they have in the past few years,” according to Oliver Müller, founder of LuxeConsult, an industry advisory firm. “There are also new manufacturing processes allowing to spare substantial amounts of gold needed by hollowing the components,” Müller said.
Still, in fresh evidence of how the second-hand market continues to be driven by the performance of select key models, the index shows that the value of the top 10 replica Rolex watches for sale – five of which are gold models from Rolex and Patek Philippe- has risen by just over 2% since April. That suggests it’s the most coveted pieces that are driving the market, rather than the trajectory of the bullion price.
“Iconic brands and historic models, with real craft and quality- that’s what is leading the way,” according to Alexander Nussbacher, head of data at Subdial, a platform for buying and selling top Rolex clone watches.
Gold has dipped by more than a fifth since the Middle East conflict began in February, with a wave of profit-taking bringing a three-year bull run to an end and pushing the metal into a bear market last month.