Two of watchmaking’s ‘Holy Trinity’ brands now lead the ChronoPulse Index, as Vacheron Constantin and Patek Philippe set the pace in Q3

• The ChronoPulse Index is now at its highest level in three years, the product of steady, stable growth rather than sharp swings. It rose 0.7% in the third quarter of 2026, closing at 1,471 points and gaining 7.5% over twelve months.
• Vacheron Constantin and Patek Philippe now hold the top two spots in the Index – a rare pairing at the top.
• Vacheron Constantin led the index over three, six and twelve months, gaining 6.7% in Q3 and closing the quarter at a 52-week high.
• Cartier reached an all-time high of 1,712 points on 21 September, with prices up 14.5% over twelve months.

Karlsruhe, October 20, 2026 – The ChronoPulse Index, Chrono24’s indicator of secondary-market watch prices, recorded its fourth consecutive positive quarter, rising 0.7% between July and September. Vacheron Constantin posted the largest gains in the index over three, six and twelve months, while Patek Philippe held on to second place over the same longer horizons.

The index closed September at 1,471 points, following gains of 2.8% in Q1 and 1.9% in Q2. It reached a 52-week high of 1,477 points in August and remained close to that level at quarter-end. Over the past six months, the index rose 2.7%, and over twelve months 7.5%. That puts it at its highest level in three years, reflecting a period of steady, stable growth.

What moved the market in Q3

• Vacheron Constantin (+6.7% in Q3, +8.2% over six months, +17.7% over one year). Vacheron Constantin posted the largest gains over three, six and twelve months. The brand closed September at a 52-week high of 1,670 points, 67.0% above its January 2019 baseline.
• Cartier (+0.7% in Q3, +3.6% over six months, +14.5% over one year). Cartier reached an all-time high of 1,712 points on 21 September and closed the quarter at 1,694 points. The brand ranked third over twelve months, behind Vacheron Constantin and Patek Philippe. One of the main drivers was the Cartier 2960, up roughly 45% in value over the past year.
• Panerai (+4.0% in Q3, -1.2% over six months, +6.2% over one year). Panerai recorded the second-largest quarterly gain, following a decline in Q2. It was the brand’s first positive year-over-year growth in four years.
• Patek Philippe (+3.0% in Q3, +5.8% over six months, +17.0% over one year). Patek Philippe ranked second over both six and twelve months, behind Vacheron Constantin. The brand closed September at a 52-week high of 2,086 points. Three steel Nautilus references ranked among the index’s best performers over the past year.
• Audemars Piguet and Omega (+2.0% and +1.7% in Q3). Both brands recorded gains over three, six and twelve months. Omega’s six-month result of +4.2% is the third-strongest in the index behind Vacheron Constantin and Patek Philippe.
• Jaeger-LeCoultre (+1.2% in Q3, +2.3% over six months, +11.0% over one year). The brand continued its recovery and ranked fourth over twelve months, behind Vacheron Constantin, Patek Philippe and Cartier. The Reverso’s standout performance tracks closely with the surge in Cartier and the broader resurgence of square cases.
• Rolex and IWC (-0.2% each in Q3). Both brands were broadly unchanged during the quarter. Rolex remained 6.0% above its year-earlier level and gained 2.2% over six months; IWC was up 1.4% over twelve months but down 1.8% over six months.

Twelve-month performance

Most tracked brands remained above their year-earlier levels. Vacheron Constantin, Patek Philippe and Cartier led the twelve-month ranking, while Breitling was broadly unchanged and Hublot was the only brand to decline.

Four of the ten best-performing watches over the past year have a square case design, including the Cartier Santos, the Cartier Tank Louis, the Jaeger-LeCoultre Reverso and the TAG Heuer Monaco.

Balazs Ferenczi, Head of Brand Engagement at Chrono24: “Vacheron Constantin and Patek Philippe holding the top two places at the same time is a notable result. Vacheron Constantin was the standout in Q3. Patek Philippe's steady performance alongside it and Cartier's all-time high, suggest that collector demand is spreading across a few brands with strong design identities. Those differences are worth noting, even with the overall index up for a fourth consecutive quarter.”

Methodology

The ChronoPulse Index tracks price developments across 13 major luxury watch brands and 140+ model references, based on real transaction data on Chrono24's global marketplace. All percentage changes are calculated on a rolling basis. The index converts all transactions into EUR at the prevailing exchange rate at the time of the transaction. Month-over-month data for brands with lower transaction volumes can be subject to higher short-term fluctuations. For more information: chrono24.com/chronopulse