We here at Everest have been covering the ever changing situation of the high-end watch market, especially these last few weeks. Baselworld (the annual watch show where brands such as Rolex, Patek Philippe, Tudor, MONTA, etc. show off their new releases - read our article HERE) was cancelled due to COVID-19. Eventually, the New York City watch release that was to be put on by Rolex was also cancelled. Now, officially covered by WatchPro, a watch industry blog and magazine, an article has been released stating that Patek Philippe has chosen to cancel its annual new releases.
Our team of watch enthusiasts has been thinking that Rolex will also be following suit. Rolex uses some of the same outside manufacturers that Patek uses for hairsprings and small items. Both brands are the two godfathers of the industry and seem to not ever work against each other. Additionally, Rolex announced that it will be closed down until April and the word on the Swiss street is that they will be down until May. You can read more about that here.
We are quite confident that Rolex and Tudor (Rolex’s additional brand) will not be releasing any new models in 2020 now, but postponing it to 2021 when Baselworld resumes in September.