WatchCharts: Secondary Watch Market Pauses in June After Spring Rally

Editorial Staff

18 Jul 2026 — 3 min read

The secondary watch market lost momentum in June as prices leveled off following the excitement surrounding Watches & Wonders, according to the latest market analysis from WatchCharts.

The WatchCharts Overall Market Index slipped just 0.1% during June, effectively ending the month flat after the strong gains recorded in April. The data suggests the market is digesting the inventory surge that accompanied the industry’s biggest annual trade event rather than entering a broader downturn.

Among the “Big Three” luxury brands, Patek Philippe was the strongest performer in June, rising 0.4%, supported by a 1.0% gain in the Aquanaut collection. Rolex declined 0.2%, weighed down by softer pricing for the GMT-Master (-0.6%) and Submariner (-0.7%), while Audemars Piguet and Cartier finished the month unchanged.

WatchCharts noted that three of June’s five best-performing brands were non-Swiss manufacturers. Grand Seiko led the group with a 1.2% increase, followed by Glashütte Original at 0.7% and A. Lange & Söhne at 0.6%, highlighting continued collector interest beyond the traditional Swiss luxury leaders.

Approximately half of the 27 major brands tracked by WatchCharts posted gains during June, mirroring May’s mixed performance. The firm believes much of the volatility can be traced to speculative buying and listing activity ahead of Watches & Wonders, held April 14-20, followed by a natural correction once the event concluded.

Rolex illustrates that pattern particularly well. Secondary prices climbed 2.5% during April, driven largely by demand for the stainless steel GMT-Master II “Pepsi” reference 126710BLRO. Those gains were subsequently pared back with declines of 2.2% in May and another 0.2% in June.

Among individual collections, Parmigiani Fleurier’s Tonda was June’s strongest performer with a 2.1% increase. Cartier’s Ronde and Vacheron Constantin’s Traditionnelle each gained 1.3%. On the downside, Audemars Piguet’s Royal Oak Offshore fell 1.2%, Tudor’s Black Bay declined 1.4%, and the Rolex Date collection dropped 1.7%.

Despite June’s pause, the broader quarterly picture remained positive. WatchCharts reported that its Overall Market Index gained 1.5% during the second quarter of 2026, marking a fourth consecutive quarter of growth exceeding 1%. Patek Philippe led the major brands with a 2.2% quarterly gain, followed by Audemars Piguet at 1.5% and Rolex at 1.0%.

However, WatchCharts cautioned that nearly all of the quarter’s gains were generated during April, when the Overall Market Index advanced 2.5%—its strongest monthly performance since March 2022. The rally coincided with unprecedented anticipation surrounding Watches & Wonders, prompting dealers to aggressively build inventory ahead of the event.

That strategy resulted in record levels of secondary-market supply, but demand failed to absorb the additional inventory during May and June. WatchCharts said the excess supply affected Rolex most noticeably, with prices slipping approximately 1% over the final two months of the quarter, while Patek Philippe and Audemars Piguet largely held their gains as higher-end collectors continued to absorb available inventory.

Looking ahead, WatchCharts believes the recent flattening reflects a normalization after April’s enthusiasm rather than a weakening of underlying demand. The firm said the third quarter will provide a clearer indication of market direction as dealers work through inventory accumulated during the first half of the year. While new listing volumes had already returned to more typical levels by June, the remaining stock on the market could continue to pressure prices until it is absorbed.