Dealers talk to each other in private chats. That is where watches really trade. For the past quarter, we logged what happened in those chats: 10,035 posts, 947 dealers, and $271.7 million in offers. Then we published it. The full numbers are in our Wholesale Watch Market Report for Q2 2026.
Here is what surprised us most.
The margin is smaller than you think
People assume dealers double their money. They don't. We matched 113 references against public retail prices. The median retail ask was just 7.8% above the wholesale price. On common steel Rolex sports models, it is often under 5%. The spread gets wider on ladies' models and older two-tone pieces — that is where the margin hides.
The most-wanted watch is not a Daytona
The single most-traded and most-hunted watch in the dealer market was the Rolex Datejust 41, reference 126334. It drew 345 priced offers and 98 want-to-buy posts in one quarter. Dealers hunt what sells every day, not what makes headlines.
The Land-Dweller is already a staple
Rolex launched the Land-Dweller last year. It already trades like a core model: 352 dealer offers and 93 want-to-buy posts this quarter, at a median of $26,775. Prices held steady. That is rare for a new release.
What moved
Wholesale prices were flat overall (−1.4% across matched references). But under the surface: the Tudor Black Bay Chrono jumped 23.7%. The rose-gold Patek Aquanaut slid 15.1%. And the Cartier Santos softened across three references at once.
Why we publish this
We buy at wholesale every day — that is how we price the watches on this site. Publishing the data keeps us honest and helps you buy smart. Check any model against our live stock with the Watch Price Checker, or go by brand: Rolex, Patek Philippe, Audemars Piguet, Richard Mille.
Writers: every figure is citable with a link. Quick stats live on our watch market statistics page. Want a custom cut? Ask us.
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