It seems the pre-owned luxury watch market is finally regaining stability. Morgan Stanley, as always, is keeping a close eye on the sector, with its second-quarter 2026 report, published on July 8, finally bringing some good news: the long price correction has almost come to a halt.

The numbers speak for themselves: in the second quarter of 2026, prices fell by just 0.3%, the smallest decrease since 2022. This indicates that the market is finding a new equilibrium after the unbridled speculation triggered by the pandemic, which peaked in May 2022.

Two Brands Make the Difference

In this stabilizing scenario, two names stand out above all others: Cartier Replica and Omega. This isn’t just a positive performance, but a real boost for their respective groups.

Cartier even recorded a 0.9% increase in prices on the pre-owned market. This result confirms the strength of the French brand, driven by the success of the Tank and Santos collections. It’s no coincidence that Cartier alone accounts for nearly 50% of the Richemont group’s watch sales.

Omega, for its part, demonstrated impressive resilience. The Swiss brand closed the quarter with virtually no decline: just -0.1%. As the Swatch Group’s largest brand, this stability allowed the entire group to limit losses to -1.1%, the best result among all luxury giants. While these percentages may seem marginal at first glance, they have a significant impact when compared to large brands and groups.

Giants Save the Market

The reason for this general stabilization in the pre-owned market lies in the performance of the so-called “heavyweights” of the sector. According to data from the New York-based financial services company, four brands in particular had a positive impact on the entire market: Rolex, Patek Philippe, Cartier, and Omega.

While the groups as a whole continued to decline—Richemont at -2.4% and LVMH at -3.1%—the strength of these individual leaders prevented a widespread collapse. The message seems clear: consumers are increasingly focusing on brands that represent a guarantee of long-term value.

Toward a Future of Quality and Trust

Morgan Stainley’s analysis suggests that the second quarter of 2025 marks a turning point for the pre-owned luxury watch market. The wild correction is giving way to a balance, where quality and brand trust truly matter.

The success of Cartier and Omega, combined with the growing popularity of certified channels like Rolex’s CPO program, points to a clear direction: the future belongs to those who can offer not only an excellent product, but also a guarantee of enduring, resalable value.

For collectors and investors, this means a more predictable and reliable market. For brands, however, it represents an important lesson: in the post-speculation era, those who have built their reputation on solid and lasting foundations win.