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SwissDiveVintageBy BudgetSmartAboutBest Swiss Watches

The Index

references, tracked monthly.
20 references tracked monthly with citations to every observation.

The Subdial Index

Median, low, and high secondary-market prices — sampled from public listings each month, with citations to every observation.

Methodology

How the Index works

The Subdial Index tracks 20 reference watches across the modern and vintage markets — from Tier-1 stainless-steel sports references (Daytona, Submariner, Nautilus) to independent-maker outliers (F.P. Journe). The list is intentionally stable: references stay for at least 12 months so month-over-month and year-over-year comparisons are real signal, not list churn.

Each month, Subdial samples 4–10 publicly visible secondary-market listings per reference — Chrono24, WatchCharts, Bezel, Bring a Loupe, plus relevant auction lots — normalized to a “good-papered” condition tier where possible. Every observation cites the source listing URL plus an archive.org snapshot taken at observation time, so the citation survives even if the listing is later removed.

The Index publishes the first week of each month, reporting the previous month’s observed prices with median, low, and high per reference, MoM and YoY change, a 12-month sparkline, and Subdial’s read on what shifted. The first Subdial Index covers May 2026 and publishes the first week of June 2026.

Launches June 2026

The Index · 20 references

The 20-reference seed list is locked in for May 2026 data collection. The first Subdial Index — covering observed May prices with full citations — publishes the first week of June 2026.

12M Trend
A. Lange & SöhneLange 1Ref. 191.026
———
Audemars PiguetRoyal OakRef. 15500ST
———
Audemars PiguetVintageRoyal OakRef. 5402ST
———
F.P. JourneChronomètre BleuRef. CB
———
HeuerVintageCarreraRef. 2447NT
———
Jaeger-LeCoultreMaster Ultra ThinRef. Q1278420
———
Jaeger-LeCoultreReverso Tribute DuofaceRef. Q3988482
———
OmegaSpeedmaster Professional MoonwatchRef. 310.30.42.50.01.001
———
Patek PhilippeAnnual CalendarRef. 5396G-014
———
Patek PhilippeAquanautRef. 5167A-001
———
Patek PhilippeCalatravaRef. 6119G-001
———
Patek PhilippeNautilusRef. 5711/1A-010
———
Patek PhilippeVintageNautilusRef. 3700/1A
———
RolexCosmograph DaytonaRef. 116500LN
———
RolexVintageCosmograph DaytonaRef. 6263
———
RolexGMT-Master II "Pepsi"Ref. 126710BLRO
———
RolexVintageSubmarinerRef. 5513
———
RolexSubmariner (No-Date)Ref. 124060
———
TudorVintageSubmariner "Snowflake"Ref. 9411/0
———
Vacheron ConstantinOverseas (Self-winding)Ref. 4500V/110A-B128
———

First report publishes June 2026. Subscribe below to get it on the day.

Image credits

Sources & attribution

Every photograph in the table above is either a Creative Commons release from Wikimedia Commons or an auction-house press image used in editorial citation. Each entry links to the original source.

Rolex ref. 116500LN
Photo: Phillips Auctioneers · source
Rolex ref. 124060
Photo: Sotheby’s · source
Rolex ref. 126710BLRO
Photo: Sotheby’s · source
Patek Philippe ref. 5711/1A-010
Patek Philippe SA, CC BY-SA 4.0, via Wikimedia Commons · source
Patek Philippe ref. 5167A-001
EMore98, CC BY-SA 4.0, via Wikimedia Commons · source
Audemars Piguet ref. 15500ST
OpaleHorse, CC BY-SA 4.0, via Wikimedia Commons · source
Patek Philippe ref. 6119G-001
Clyde94, CC BY-SA 4.0, via Wikimedia Commons · source
Patek Philippe ref. 5396G-014
Photo: Sotheby's · source
Vacheron Constantin ref. 4500V/110A-B128
Photo: Sotheby's · source
Jaeger-LeCoultre ref. Q1278420
Remi Mathis, CC BY-SA 4.0, via Wikimedia Commons · source
Rolex ref. 6263
Photo by Clyde94, via Wikimedia Commons, CC BY-SA 4.0 · source
Rolex ref. 5513
Photo: Phillips Auctioneers · source
Patek Philippe ref. 3700/1A
Patek Philippe SA, CC BY-SA 4.0, via Wikimedia Commons · source
Audemars Piguet ref. 5402ST
OpaleHorse, CC BY-SA 4.0, via Wikimedia Commons · source
A. Lange & Söhne ref. 191.026
Photo: Sotheby's · source
Jaeger-LeCoultre ref. Q3988482
Provo rossi, CC BY 4.0, via Wikimedia Commons · source
Omega ref. 310.30.42.50.01.001
Photo by Daniel Zimmermann (Bayern, Germany), via Wikimedia Commons, CC BY 2.0 · source
Heuer ref. 2447NT
Mike Chapman, CC BY-SA 3.0, via Wikimedia Commons · source
Tudor ref. 9411/0
Photo by Thierry Mostra-store, via Wikimedia Commons, CC BY-SA 4.0 · source
F.P. Journe ref. CB
Photo: Sotheby's · source

The Subdial Index

First report drops June 2026.

Get the Subdial Index in your inbox the day it publishes — secondary-market prices, MoM and YoY changes, and Subdial’s read on what shifted. Monthly, no spam, no sponsorship.

Frequently Asked

What readers ask about the Subdial Index

What is the Subdial Index?

A monthly tracked-data report on the secondary-market prices of 20 reference watches. Each month Subdial publishes the median, low, and high observed price per reference, with month-over-month and year-over-year change, and citations to every source.

Which 20 references does the Index track?

The Index tracks six modern Tier-1 sports-steel references (Daytona, Submariner, Nautilus, Aquanaut, GMT-Master, Royal Oak), four Tier-1 modern dress / complication references, four Tier-1 vintage references, three Tier-2 modern, two Tier-2 vintage, and one independent (F.P. Journe). The full list stays stable for at least 12 months so MoM and YoY comparisons are real signal.

How is "current price" defined?

The reported median is the median of 4–10 publicly observable listing or auction prices in the reporting month, normalized to a "good-papered" condition tier where possible. Each observation cites the source URL plus an archive.org snapshot.

When does the next Index publish?

The first Subdial Index covers May 2026 and publishes the first week of June 2026. Subscribe to The Auction Debrief newsletter to receive each report on the day it publishes.

Can I see the source listings?

Yes — every published observation links to its source listing or auction lot URL plus an archive.org snapshot taken at observation time. Citations are part of the report; they survive even if the original listing is taken down.

What is the Subdial Index?

The Subdial Index is a monthly tracked-data report on the secondary-market prices of 20 reference watches — modern Tier-1 sports steel (Daytona, Submariner, Nautilus, Royal Oak), Tier-1 dress and complications, vintage equivalents, and one independent maker. Each month, Subdial samples 4–10 publicly visible secondary-market listings per reference and publishes the median, low, and high observed price with citations to every source.

How does Subdial collect the data?

Subdial samples public listings on Chrono24, WatchCharts, Bezel, and Bring a Loupe, plus relevant auction lots, normalized to a "good-papered" condition tier where possible. Every observation cites the source listing URL plus an archive.org snapshot taken at observation time so the citation survives if the listing is later removed.

When does the Index publish?

The Subdial Index publishes the first week of each month, reporting the previous month's observed prices. The first report covers May 2026 and publishes the first week of June 2026.

What is the Subdial Index?

A monthly tracked-data report on the secondary-market prices of 20 reference watches. Each month Subdial publishes the median, low, and high observed price per reference, with month-over-month and year-over-year change, and citations to every source.

Which 20 references does the Index track?

The Index tracks six modern Tier-1 sports-steel references (Daytona, Submariner, Nautilus, Aquanaut, GMT-Master, Royal Oak), four Tier-1 modern dress / complication references, four Tier-1 vintage references, three Tier-2 modern, two Tier-2 vintage, and one independent (F.P. Journe). The full list stays stable for at least 12 months so MoM and YoY comparisons are real signal.

How is "current price" defined?

The reported median is the median of 4–10 publicly observable listing or auction prices in the reporting month, normalized to a "good-papered" condition tier where possible. Each observation cites the source URL plus an archive.org snapshot.

When does the next Index publish?

The first Subdial Index covers May 2026 and publishes the first week of June 2026. Subscribe to The Auction Debrief newsletter to receive each report on the day it publishes.

Can I see the source listings?

Yes — every published observation links to its source listing or auction lot URL plus an archive.org snapshot taken at observation time. Citations are part of the report; they survive even if the original listing is taken down.

What is Subdial?

Subdial is an editorial publication covering luxury watchmaking — Swiss heritage houses, dive watches, vintage timepieces, and the makers worth knowing. Coverage includes Rolex, Patek Philippe, Audemars Piguet, Vacheron Constantin, Omega, Tudor, and dozens more. Editorial focus: history, signature collections, what to look for when buying, and how value holds.

Which Swiss watch brands are the most prestigious?

The "Holy Trinity" of Swiss watchmaking is Patek Philippe (founded 1839), Audemars Piguet (1875), and Vacheron Constantin (1755) — the three houses widely considered the apex of haute horlogerie. Rolex is the most recognized worldwide; Jaeger-LeCoultre supplies movements to many top brands; Blancpain is the oldest continuously operating watchmaker (founded 1735). Independent makers like F.P. Journe and Richard Mille operate at the same tier with smaller production runs.

What makes a watch "Swiss made"?

Swiss law requires that a watch labeled "Swiss made" must have its movement assembled in Switzerland, its movement cased in Switzerland, undergone final inspection by the manufacturer in Switzerland, and have at least 60% of its production cost incurred in Switzerland. The standard is enforced by the Federal Council and the Federation of the Swiss Watch Industry FH.

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