Assel Watches presents its market brief for Friday August 28, 2026. Two forces define the fine-watch market this season: the extraordinary rise of gold — near $4,600 an ounce, up 36% in a year — which is lifting the intrinsic value of every gold timepiece, and a sharply polarized industry in which the exceptional thrives while the ordinary struggles. For collectors and gift-buyers across our region, here is the clear picture.
The gold effect: A solid-gold watch carries two values: the maker’s art and the metal itself. With gold up more than 60% over five years — and today consolidating near $4,600 ahead of a pivotal US Fed speech — the metal floor beneath gold references has risen materially. Industry analysts note this raises replacement costs for new gold models (brands have repriced accordingly) while placing a firmer floor under well-kept pre-owned gold pieces. For the owner, yesterday’s gold watch quietly appreciated; for the buyer, a gold reference purchased today is partly a bullion position with a masterpiece attached.
The polarized market: The numbers tell a two-speed story. At the summit, records fall: this year’s Phillips Geneva sale became the highest-grossing watch auction in history — $96.3 million, 43 world records — confirming great watches as investment-grade assets. The certified pre-owned segment is the industry’s fastest-growing engine, compounding near 13% annually. Yet the middle struggles: steel watch values slipped as buyers traded down, the €5,000–€15,000 band is squeezed from both sides, and US tariffs of 39% on Swiss imports plus a persistently strong franc have forced price rises in dollar markets. Regional demand has been uneven through the year’s tensions — which makes the Gulf’s recovering appetite, and India’s rise as the top import destination, the trends to watch.
Assel Watches’ counsel: For the considered buyer, this market rewards exactly what it always should: buy the exceptional, not the merely expensive. Solid-gold references from great houses carry the double support of art and metal. Sought-after sport models remain supply-constrained. And the certified pre-owned route — inspected, warranted, fairly priced — is where today’s smartest value sits. Visit us for both: new references and certified pre-owned, each with our guarantee.
Prices and availability change with the metal markets and supply. Please contact us for current pricing on any reference.
