Luxury Watch Market 2026: Are Prices Stabilising?

Is the Luxury Watch Market Stabilising in 2026?

The luxury watch market has experienced a strange few years.

Pandemic-era demand sent prices for some of the world’s most desirable watches soaring. Rolex, Patek Philippe and Audemars Piguet models regularly traded for substantial premiums, waiting lists grew and watches increasingly became part of conversations about “investment” rather than simply collecting.

Then came the correction.

By 2026, the picture is becoming much more interesting.

Rather than another dramatic boom or collapse, current data suggests the pre-owned luxury watch market is beginning to behave more like a normal collector market again.

What are watch prices doing in 2026?

WatchCharts reported that its Overall Market Index gained 1.5% during the second quarter of 2026, although almost all of that growth came during April, when the index rose 2.5%.

May and June then cooled, with the overall market effectively flat at -0.1% during June. citeturn788672search3

That might sound uneventful, but after several years of extreme price movements, uneventful isn’t necessarily a bad thing.

It suggests buyers are becoming more selective and pricing is increasingly being driven by individual references, condition and genuine collector demand rather than speculation across the market as a whole.

Rolex still dominates – but the market is changing

Rolex remains the biggest name on the secondary market.

Chrono24’s 2026 Rolex Report found that Rolex accounted for around 31% of dollar sales volume on its marketplace, compared with approximately 11% for Omega and 6% for Patek Philippe.

But Rolex’s share has fallen considerably from its pandemic-era peak, when it reached around 44% in early 2022.

That doesn’t mean collectors have suddenly fallen out of love with Rolex.

In fact, Chrono24 reported its Rolex price index was approximately 7% higher than a year earlier.

What’s changing is where the demand sits.

The classic Rolex Datejust is now the brand’s largest revenue-contributing collection on Chrono24 at around 28%, showing how attention is beginning to spread beyond the obvious steel sports models. citeturn788672search1

For collectors, that’s an interesting shift.

Hype can still move a watch overnight

A calmer market doesn’t mean hype has disappeared.

When the discontinuation of the stainless-steel Rolex GMT-Master II “Pepsi” was confirmed around Watches & Wonders 2026, Chrono24 recorded purchase requests jumping dramatically while active listings fell as sellers withdrew stock.

The platform reported an initial increase in purchase requests of roughly 500% compared with the 2025 weekly average, while active listings dropped by around 25%. citeturn788672search4

It’s a perfect demonstration of how quickly scarcity, rumours and major announcements can still affect an individual reference.

The difference in 2026 is that those movements aren’t necessarily lifting every watch around them.

A better market for actual collectors?

Potentially.

When every desirable watch appears to increase in value each month, buying decisions become distorted.

Collectors rush purchases through fear of missing out, sellers raise prices and watches can begin changing hands because of expected returns rather than any genuine interest in the watch itself.

A more stable market allows buyers to be patient.

You can compare examples, research dealers, understand condition and decide whether the watch actually deserves a place in your collection.

That’s healthier for the industry in the long term.

What should buyers look for in 2026?

Price will always matter, but it shouldn’t be the only consideration when buying a pre-owned watch.

Condition remains hugely important. Two examples of the same reference can have very different values depending on polishing, bracelet condition, dial condition and previous servicing.

Original box and papers can also influence desirability, particularly on modern collectible references.

Then there’s the seller.

Buying from an established watch dealer gives buyers someone to speak to about the watch, its history and exactly what is included before committing to a purchase.

And finally, compare the market.

One advertised price doesn’t establish what a watch is worth. Look across multiple watches, dealers and recent market data before making a decision.

Should watches still be viewed as investments?

For most collectors, we’d argue that shouldn’t be the reason to buy one.

Some references have performed exceptionally well and certain rare watches will always command serious premiums, but historical performance doesn’t guarantee what happens next.

Buy the watch because you want to own it.

If it holds its value or increases over time, that’s a very welcome bonus.

A more mature watch market

The watch market of 2026 feels noticeably different from the market of 2021 or 2022.

There’s still excitement. There are still waiting lists. And the right release can still send collectors scrambling.

But underneath the noise, buyers appear to be becoming more considered.

For collectors who care about discovering great watches rather than simply chasing the next price increase, that might be exactly what the market needed.

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