After the extraordinary highs of recent years, the steel sports watch market has settled into a more rational rhythm. Here is how we read it heading through 2026.
Stabilising, not collapsing
Prices for the most-hyped references have eased from their peaks, but demand for genuinely scarce, well-kept examples remains firm. The froth has gone; the fundamentals have not.
Where the interest is
Buyers are increasingly rewarding originality and condition over sheer hype. Independent makers and overlooked references from the established houses are drawing fresh attention, while honest, unpolished examples command a premium.
For collectors, that is a healthy correction: a market where the watch matters more than the waiting list. As always, buy the piece you will be glad to wear — value tends to follow quality.