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The luxury watch market is seeing a surprising shift. According to a new report by online platform Chrono24, timepieces from French jewelry house Cartier have significantly outperformed Rolex models in price growth over the past decade.

Chrono24 analysts examined thousands of watch listings across two key periods — from 2018 to 2026 and from 2022 to 2026 — capturing both the pandemic-era boom and the market correction that followed. The focus was on models that not only gained long-term value but continued to rise in the past four years, Robb Report notes.

The biggest winners aren’t the most expensive or hyped pieces. Of the top 20 models with the highest price growth, 10 were Cartier watches, five came from Omega, and two from Jaeger-LeCoultre — with not a single Rolex model making the list.

“This analysis debunks a common myth: you don’t need to spend five figures on a Nautilus or Royal Oak to own a watch that appreciates in value,” said Balazs Ferenczi, Chrono24’s Head of Brand Engagement. “Some of the best-performing models of the past eight years were only a fraction of today’s prices back in 2018.”

Leading the ranking is the Must de Cartier Tank Vermeil (Ref. 1613), which was priced at just a few hundred dollars in 2018 and has surged by an impressive 299% over eight years. The two-tone Panthère (Ref. 1057917) and gold Panthère (Ref. 1070) followed with gains of 208% and 218%, respectively.

Among other brands, the Omega Speedmaster (Ref. 3310.10) rose by 119%, while the Seamaster Aqua Terra (Ref. 2517.30) gained 83%.

“What these models share is not price, but essence: iconic design that remains relevant for decades, and value driven by genuine collector demand,” Ferenczi added.

For comparison, the Rolex Datejust 41 (Ref. 126334) — one of the platform’s best-selling models — increased by just 59% since 2018. Analysts attribute this to Rolex’s already high baseline prices and extreme demand during the pandemic, followed by stabilization.

Many other sought-after watches peaked between 2020 and 2022, particularly on the secondary market, where collectors and resellers capitalized on scarcity. For instance, the Patek Philippe Nautilus (Ref. 5712/1A) has dropped 45% since 2022, though it still trades at nearly three times its 2018 value.

The findings highlight a broader shift in the luxury watch market — where timeless design and collector appeal are proving more important than hype alone.

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