Do watches depreciate?

Dont people have to pay a premium for certain models of rolex like the daytona if they want to buy it brand new,like they need to go on a waiting list for ages to get it normal price or pay extra if they want it right away? maybe that could explain some of the loss,i just remember reading somewhere that was the case dont know how true it is.
 
some watches do command a premium ( no Rolex I can think of though ), the premium on the stainless Daytona has now all but vanished and it isn't hard to get one at RRP, 2 reasons for this, leatest trends are for larger watches and now the Daytona is seen as too small by many also Rolex have virtually doubled the price in last 10 years
 
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