Wholesale Watch Market Report — Q2 2026 | $271M of Dealer Data
The wholesale watch market, measured. From April 1 to June 23, 2026, we tracked 10,035 posts in private dealer chats. Dealers offered $271.7 million worth of watches to other dealers. This report shows what they asked, what they hunted, and what moved. No other public report is built on dealer-to-dealer prices.
Key findings
- $271.7M in wholesale watch offers were posted by 947 dealers in one quarter.
- Retail asking prices sat a median of 7.8% above wholesale (middle half of references: 0.5% to 14.7%).
- Wholesale prices were flat: −1.4% median change across 59 references quoted in both halves of the quarter.
- Rolex was 66.7% of all priced wholesale offers (4,868 of 7,304).
- The most-traded watch was the Rolex Datejust 41 (126334): 345 offers, about 4 per day. It was also the most-wanted, with 98 dealer want-to-buy posts.
- The new Rolex Land-Dweller already trades hard: 352 sell offers and 93 want-to-buy posts across its references, median $26,775.
- Biggest mover up: Tudor Black Bay Chrono (79360N), +23.7%. Biggest slide: Patek Philippe Aquanaut 5167R-001, −15.1%.
What dealers pay by brand
Median wholesale ask per brand, April–June 2026. "Range" is the middle half of offers (25th to 75th percentile).
| Brand | Priced offers | References | Median wholesale | Range |
|---|---|---|---|---|
| Rolex | 4,868 | 208 | $14,692 | $8,200–$27,300 |
| Audemars Piguet | 418 | 58 | $37,803 | $20,000–$55,800 |
| Patek Philippe | 385 | 77 | $105,500 | $63,999–$140,500 |
| Omega | 263 | 26 | $5,560 | $4,500–$7,003 |
| Richard Mille | 222 | 18 | $181,000 | $151,000–$237,253 |
| Cartier | 130 | 40 | $6,600 | $5,789–$7,600 |
| Tudor | 113 | 20 | $4,360 | $3,600–$5,600 |
| Vacheron Constantin | 31 | 13 | $35,000 | $16,750–$170,400 |
| Breitling | 27 | 21 | $4,350 | $3,625–$6,295 |
| Hublot | 25 | 19 | $5,500 | $5,000–$7,750 |
| Panerai | 22 | 12 | $6,650 | $4,213–$8,095 |
| IWC | 21 | 12 | $4,400 | $3,850–$5,500 |
The 15 most-traded references
Ranked by number of priced dealer offers in the quarter.
| # | Watch | Reference | Offers | Median wholesale | Range |
|---|---|---|---|---|---|
| 1 | Rolex Datejust 41 (fluted, Jubilee) | 126334 | 345 | $15,250 | $14,000–$16,500 |
| 2 | Rolex Datejust 41 (smooth bezel) | 126300 | 304 | $10,999 | $10,000–$11,813 |
| 3 | Rolex Submariner "Hulk" | 116610LV | 299 | $18,850 | $18,300–$19,500 |
| 4 | Rolex Submariner Date "Bluesy" | 126613LB | 230 | $17,050 | $16,561–$17,800 |
| 5 | Richard Mille RM 011 | RM011 | 221 | $158,000 | $136,525–$189,000 |
| 6 | Rolex Land-Dweller 40 | 127334 | 212 | $26,800 | $26,200–$27,500 |
| 7 | Rolex Sky-Dweller (rose gold) | 336935 | 201 | $68,500 | $62,500–$69,800 |
| 8 | Rolex Daytona (yellow gold)* | 116508 | 189 | $69,900 | $56,000–$73,000 |
| 9 | Rolex Datejust 36 (two-tone) | 16233 | 185 | $6,300 | $5,650–$6,700 |
| 10 | Rolex Datejust 36 (steel & white gold) | 116234 | 175 | $8,595 | $7,500–$9,095 |
| 11 | Rolex Lady-Datejust (two-tone) | 69173 | 153 | $4,750 | $4,450–$5,500 |
| 12 | Audemars Piguet Royal Oak Chronograph "Panda" | 26331ST | 133 | $42,000 | $39,400–$44,500 |
| 13 | Rolex Daytona (Everose) | 116515LN | 132 | $38,500 | $36,374–$41,500 |
| 14 | Rolex Submariner (two-tone) | 16613 | 98 | $10,250 | $9,500–$11,288 |
| 15 | Rolex Datejust 36 (two-tone, vintage) | 16013 | 90 | $5,200 | $4,425–$5,300 |
*The Daytona 116508 range is wide because dial color changes its value a lot. The green-dial version trades far above the others.
What moved, up and down
Median wholesale ask, first half of the quarter vs. second half. Only references with at least 5 priced offers in each half are shown.
| Watch | Reference | Early Q2 | Late Q2 | Change |
|---|---|---|---|---|
| Tudor Black Bay Chrono | 79360N | $5,700 | $7,050 | +23.7% |
| Patek Philippe Nautilus (rose gold) | 5712R-001 | $114,638 | $122,500 | +6.9% |
| AP Royal Oak Chronograph "Panda" | 26331ST | $41,275 | $43,908 | +6.4% |
| Rolex Submariner (two-tone) | 16613 | $9,975 | $10,525 | +5.5% |
| Rolex Datejust 36 (steel & white gold) | 116234 | $8,400 | $8,800 | +4.8% |
| Rolex Daytona (Everose) | 116515LN | $39,250 | $37,175 | −5.3% |
| Cartier Santos (large) | WSSA0018 | $7,350 | $6,505 | −11.5% |
| Richard Mille RM 011 | RM011 | $168,000 | $154,888 | −7.8% |
| Rolex Explorer 39 | 214270 | $7,800 | $7,100 | −9.0% |
| Patek Philippe Aquanaut (rose gold) | 5167R-001 | $111,500 | $94,686 | −15.1% |
One pattern stands out: the Cartier Santos softened across the board. Three Santos references (WSSA0018, WSSA0009, WSSA0030) all slid 7% to 11.5% in the same window.
What dealers are hunting
Want-to-buy posts are the demand side of the trade market. Dealers posted 2,642 of them this quarter. These were the most requested watches.
| # | Watch | Reference | Want-to-buy posts |
|---|---|---|---|
| 1 | Rolex Datejust 41 | 126334 | 98 |
| 2 | Rolex Daytona (yellow gold) | 116508 | 64 |
| 3 | Rolex Datejust 41 (smooth) | 126300 | 57 |
| 4 | Rolex Submariner "Bluesy" | 126613LB | 49 |
| 5 | Rolex GMT-Master II (vintage) | 16710 | 39 |
| 6 | Rolex Sky-Dweller (rose gold) | 336935 | 37 |
| 7 | Rolex Submariner "Hulk" | 116610LV | 35 |
| 8 | Rolex Datejust 36 | 126234 | 31 |
| 9 | Richard Mille RM 011 | RM011 | 30 |
| 10 | AP Royal Oak Chronograph "Panda" | 26331ST | 29 |
The Land-Dweller is already a trade staple
Rolex launched the Land-Dweller in 2025. One year later, it is already one of the most active families in the dealer market: 352 sell offers and 93 want-to-buy posts this quarter, with a median wholesale ask of $26,775. Prices held steady through the quarter (−2.6% on the steel 127334, flat on the gold references). Dealers treat it as a core watch, not a hype piece.
The real dealer margin
We matched 113 references against public retail asking prices at other dealers (3 or more stores per reference). The median retail ask was 7.8% above the wholesale price. Half of all references carried a markup between 0.5% and 14.7%. On common steel Rolex models, the gap is small. On ladies' models and older two-tone pieces, it is much wider.
Methodology
This report is built from 10,035 posts in private wholesale dealer chats (WhatsApp trade groups), captured April 1 to June 23, 2026. We analyzed 7,304 sell offers with a stated price between $1,000 and $5,000,000, covering 561 references from 947 dealers. Figures are asking prices quoted dealer-to-dealer, not completed sales. Medians are used throughout to limit the effect of outliers. References that collide across brands were removed. All figures are aggregates. We never publish dealer names, chat names, or individual quotes. Retail comparison prices come from public listings at other dealers, matched by reference and condition.
Citing this report: journalists, bloggers, and researchers may use any figure on this page with a link to it as the source. For the underlying aggregates, a comment on a figure, or custom cuts of the data, email our team — we answer fast.
Bizak & Co. is a family-run luxury watch dealer in Miami Beach. We buy and sell at the wholesale level every day, which is why we have this data. Check a specific model with our Watch Price Checker, or browse the collection.
