First half of 2026 Global pre-owned market review

Breguet, Blancpain, TAG Heuer, Zenith...
Despite their long histories, Traditions of craftsmanship and technical prowess, And their easy visibility in department stores and luxury magazines, The first half 'report cards' of these luxury brands fell short of the market average.

Glamorous popup stores and ambassador lineups featuring top stars. Even with these 'specs', If they fail to win over consumers, What conditions are truly needed to gain competitiveness?

Based on the first half 2026 market data from the global pre-owned watch data platform EveryWatch, We examined auction, Dealer, And private transaction data for a total of 60 brands.

Sluggish new watch market, Booming pre-owned market

In the first half of 2026, The global pre-owned watch market recorded $10.3 billion, Up 37.5% year-on-year (about 15 trillion KRW based on the average exchange rate for the first half). This is in stark contrast to the new watch market, Which declined by 0.7% during the same period.

Source: EveryWatch,
Federation of the Swiss Watch Industry

However, Even amid this favorable trend, The gap between competitive and less competitive brands became clear.
To see how this distinction is made, From here we will divide brands into four groups based on transaction volume growth and average median price growth rate.

Source: EveryWatch

Group ①
- Brands exceeding market average in both transaction volume and price growth

https://www.esperluxe.com

F.P. Journe, Daniel Roth, H. Moser & Cie., Bovet, Greubel Forsey are brands with overwhelming design differentiation, Craftsmanship, And rarity that even traditional high-end makers cannot offer.
These five brands recorded an average transaction volume growth of 45.1% and a median price growth of 35.2%. Parmigiani Fleurier, Which shares similar appeal, Also posted a 45% transaction volume growth and a solid 10.4% price growth, Slightly below average but still robust.

There is no better example than these brands to show that when rarity and identity are clear, Both price and demand follow.

Source: EveryWatch

Interestingly, The same principle applies at the opposite end of the price spectrum.

Hamilton, Grand Seiko, NOMOS, Hermes recorded a 30.5% increase in transaction volume and an 18.1% increase in price. With a median price of about $2, 400, These brands competed with iconic design and high quality for the price.

Daniel Roth Platinum Tourbillon
https://loupethis.com

NOMOS Neomatik Worldtimer
https://timeandtidewatches.com

Perhaps the commonality between F.P. Journe and NOMOS is their distinctive and unmistakable identity.

Group ②
- Brands with above-average transaction volume and solid price growth

Patek Philippe Nautilus 5712/1A
https://www.windvintage.com

Of course, Not everyone can be as unique as F.P. Journe or NOMOS. Some are ordinary, Familiar, Or even predictable.
But with 'familiarity' comes a certain level of expectation that must be met.

Rolex, Patek Philippe, Cartier, And Richard Mille together account for 60.2% of transaction volume. Despite this overwhelming share, They still achieved an average transaction volume growth of 31.4% and a price growth of 8.4%.

Source: EveryWatch

While not as differentiated as F.P. Journe, These brands with broad fan bases and proven brand value are driving the entire market. This is the clearest example of the 'rich get richer' structure in the pre-owned watch market, Where big brands continue to grow even bigger.

Source: EveryWatch

In the mid to lower price range,
Tissot and Seiko, Which have clear brand positioning, Recorded an average transaction growth rate of 51.6% (notably, Tissot's growth rate was 67.8%). However, Lacking strong catalysts like Hamilton (with campaigns closely tied to the film industry) or NOMOS (an independent watchmaker with great value), Their price movement was not significant.

Among the top 10 references by transaction volume, 9 are Rolex
Source: EveryWatch

With discontinuation news, Both price and transaction volume surged for
Rolex GMT-Master II 126710BLRO
https://gandgtimepieces.com

Even if transaction volume increases, Prices may not — this is the limit of recognition without a catalyst.

Group ③
- Brands with declining transaction volume but high price growth

Piaget, Which has appointed a new brand ambassador and is actively marketing
https://www.richemont.com

Bvlgari, Chopard, Piaget have strong brand value as jewelry makers and are also mainstream watchmakers. Especially with the recent surge in demand for jewelry (or jewelry-like watches) and accessories, These three brands recorded an average price growth of 29.9%.

However, Their average transaction volume actually declined by 8.8%. This phenomenon, Where prices rise but transactions decrease, Is in my view because, Above a certain price point, Demand shifts to Cartier, A brand with more clearly proven value and liquidity.

In a similar context, Girard Perregaux, Ulysse Nardin, Glashütte Original, Which traded at an average of $8, 600 and have loyal fan bases, Failed to persuade consumers who wanted more proven brands.

Group ④
- Brands that fell short of the market average in both transaction volume and price

Of the 60 brands surveyed, 26 brands fell below the market average in both transaction volume and price growth. Except for two or three, The rest are 'mainstream' makers that we have long seen in department stores and luxury magazines. This means that it is not unknown brands but these familiar luxury brands that are losing market attention. Despite their very high recognition, Other brands that failed to achieve even a 1% share of transactions include Blancpain, Breguet, TAG Heuer, Zenith, And Oris.

Blancpain's iconic Fifty Fathoms 38mm
https://monochrome-watches.com

Breguet's 2026 Tradition Collection
https://elementintime.com

Jaeger-LeCoultre is trying various marketing strategies such as department store entry, New ambassador celebrities, And watchmaking classes
https://www.timeforum.co.kr

There is no 'luxury' watch brand without a long history, Craftsmanship, And technical prowess. Most brands already belong to well-capitalized groups and spend heavily on marketing — glamorous events and famous celebrity ambassadors. However, These 'safe' luxury strategies no longer open consumers' wallets.

H. Moser & Cie with a strong brand identity
https://watchesbysjx.com

As a result, These ordinary brands are continuously losing market share to top-tier brands and those with a distinctive identity targeting niche markets. In the end, Even among luxury watch brands, Only a few remain as truly iconic, While most are pushed aside as 'just another' brand, Widening the gap.