BuyingTime Daily - February 19, 2026
Rolex tightens its grip, Omega slips, independents rise, and value hunts heat up. Plus bold new releases and a live Patek 5146G auction.
Time Graphing today’s watch universe
Time Graphing Today’s Watch Universe for February 19, 2026 reads like a study in gravity: who’s pulling harder, who’s drifting, and who’s simply defying physics. Morgan Stanley’s Top 50 report makes it official—Rolex is still the sun around which much of the Swiss watch system revolves. Even with exports down 1.7% and total market value hovering around CHF 49 billion, the real headline is concentration. Rolex, Cartier, Audemars Piguet, and Patek Philippe now command more than half the industry’s value, while much of the rest fights over the margins. The ultra-luxury tier above CHF 50,000 continues to do the heavy lifting, and interestingly, independents and the likes of Christopher Ward are carving out momentum in the mid-range. Polarization isn’t just a buzzword—it’s the operating reality.
That context makes the second story sting a little more for Omega, which has reportedly slipped to fifth place despite meaningful growth from 2017 through 2023. A tougher Chinese consumer environment and a more cautious global buyer have slowed momentum, while Rolex has widened the gap with estimated 2025 sales north of CHF 11 billion. In a flat market, relative performance becomes everything, and the widening gulf between the crown and everyone else is increasingly hard to ignore. Even the video commentary circulating today leans into that narrative, framing Omega’s recent struggles as a bellwether for broader competitive reshuffling at the top.
On the enthusiast side, the Miyota 9015 teardown was a reminder that not every important movement comes stamped with “Swiss Made.” The deep dive into the 9015 positions it as a workhorse caliber that underpins countless microbrands and mid-tier offerings, quietly powering a huge swath of modern mechanical watchmaking. It’s a useful counterweight to the luxury oligopoly theme: while the top consolidates, the accessible end continues to innovate and iterate with surprising quality.
There was no shortage of personality elsewhere. Awake’s limited “Dare & Dream” proves that whimsy and tool-watch credibility can coexist, while the neo-vintage case for the Rolex Explorer II ref. 16570 makes a compelling argument for understated steel over hype-fueled flash. Meanwhile, Tiffany’s new paillonné enamel creation leans unapologetically into jewelry-first theatrics, reminding us that artistry still commands time and patience—especially when only eight pieces per color exist.
The new releases brought range and spectacle. Brooklands added color to its racing chronograph formula, Girard-Perregaux went full artisanal with a pink-gold La Esmeralda tourbillon tribute to the Year of the Horse, and H. Moser & Cie. debuted its first full-ceramic Streamliner Tourbillon Concept, pairing stealthy grey with a red fumé enamel dial. Hamilton tapped into pop-culture crossovers with Resident Evil-themed limited editions, while Richard Mille once again turned the volume to eleven with a soccer-timing RM 41-01 tourbillon. At the more attainable end, RZE reinterpreted a 1940s pilot aesthetic in titanium, underscoring that innovation doesn’t always require six figures.
Comparisons and value discussions rounded out the day, from the ongoing love affair with bronze cases to a decade-long Timex-versus-Casio showdown that ultimately crowns durability king. Video highlights leaned heavily into affordability and smart buying, from luxury alternatives to “pockets of value” in 2026, plus a hands-on look at an IWC Pilot Performance Chrono and a philosophical rejection of the so-called one-watch collection. Podcasts added business depth, with industry leaders unpacking collaboration strategy, Genta-adjacent brand positioning, and the shifting economics of the CHF 3,000-plus battleground.
On the auction front, yesterday’s 1994 Vacheron Constantin Patrimony Skeleton Chronograph was bid to $39,500 but failed to meet reserve—proof that even yellow-gold elegance has its limits in this climate. Today’s focus shifts to the Patek Philippe Annual Calendar 5146G-010 in white gold and slate grey, a modern classic complication currently sitting at $12,250 as it heads toward a 3:55 pm close. In a market obsessed with extremes, it may be the quietly rational play.
Selective normalization, consolidation, polarization—call it what you want. February 19 shows a watch world recalibrating rather than collapsing, with power concentrated at the top, resilience in the ultra-high end, and creativity thriving everywhere else.
-Michael Wolf
News Time
Morgan Stanley’s Top 50 Watch Brands for 2025, Rolex Still Leading the Pack, Strong Polarization of the Market
Morgan Stanley’s 2025 watch industry report says the Swiss watch market continues to contract, with exports down 1.7% and total market value around CHF 49 billion. The report emphasizes how concentrated the industry has become, with Rolex, Cartier, Audemars Piguet, and Patek Philippe now representing more than half of total market share. While many brands in the top 50 saw steep declines, the ultra-luxury segment above CHF 50,000 remained a bright spot and continues to drive a disproportionate share of export value. The report also points to strength among high-end independents and highlights Christopher Ward as a notable mid-range riser.
Omega slips further behind Rolex in league of Swiss makers
Omega has reportedly dropped to fifth place among Swiss watchmakers, even after growing sales meaningfully from 2017 through 2023 under CEO Raynald Aeschlimann. The long summary attributes the recent stumble largely to a tougher China environment, where more value-conscious consumers have weighed on performance despite prior investments and a post-COVID recovery. Rolex, by contrast, has expanded dramatically, with sales estimated to have climbed to more than CHF 11 billion by 2025, supported by tight brand management and a strong authorized dealer network. The piece frames the broader industry as mostly flat, which makes Omega’s path back to prior standing even more challenging.
Feature Time
Just Because: Deconstructing a Miyota 9015 Automatic, And Here’s What I Discovered
This piece argues that the Miyota 9015 is one of the watch world’s most important high-volume automatic movements, even if it is often overlooked compared with Swiss alternatives. It traces Miyota’s roots inside the Citizen Group and highlights the brand’s long-running focus on practical innovation and durability. The long summary emphasizes that the 9000-series is Miyota’s premium mechanical line and that the movements are produced fully in-house for tight quality control. A teardown of the 9015 is presented as proof that the design is straightforward, reliable, and better finished than many expect from a mass-produced caliber.
No Longer Made: Whimsical Art And The Awake Dare & Dream Watch
This story spotlights Awake’s limited “Dare & Dream” watch as a playful blend of pop-culture illustration and a real-world, wearable tool watch. The dial art by Nicolas Barrome Forgues features the cartoon “Bifrons” characters and is framed by a lightweight 40mm titanium case. It pairs that creativity with practical specs like a Miyota 9039 automatic movement, strong water resistance, and luminous markers that preserve legibility. The piece positions the watch as an affordable, joy-forward collector’s item, made rarer by a 50-piece production run.
Why I Could Fall In Love With The Quirky Rolex Explorer II Ref. 16570
The long summary frames the Explorer II 16570 as a “quietly confident” Rolex that prioritizes usefulness and understatement over flash. Its 40mm steel case and black dial are presented as versatile enough for daily wear in both casual and more formal settings. The watch’s appeal is described as “neo-vintage,” bridging older Rolex design language with newer-era refinements, which gives it character without feeling dated. It also stresses that the emotional bond comes from living with it as a capable companion, with pricing that can look reasonable versus other neo-vintage alternatives.
Why The New Tiffany Paillonne Enamel Watch Is An Anomaly In Watchmaking
This article presents Tiffany’s new paillonné enamel watch as a rare meeting of revived heritage craft and contemporary, playful design. It explains how the once-nearly-lost paillonné enameling technique was historically championed at Tiffany and is now reinterpreted through a swinging enamel hour ring in Tiffany Blue or white, with gold motifs marking the hours. The summary underscores the intensity of the making process, citing dozens of hours of enameling and gold work per ring, which limits production to just eight pieces per color. The result is positioned as a jewelry-first timepiece built around artistry, with quartz power and heavy diamond-setting used to maximize spectacle and finishing.
Editorial Time
Interview: “Selective Normalisation in 2026” - Overview of the Watch Industry with Jean-Philippe Bertschy, Head of Vontobel Equity Research
This interview outlines the idea of “selective normalisation” for 2026, meaning a handful of strong luxury brands are stabilizing and edging back toward growth while many others remain under pressure. It describes a market that has increasingly shifted into an oligopoly, where a small group of dominant brands capture most of the industry’s production and value. Looking ahead, it expects gradual improvement in places like the United States and the Middle East, while Mainland China stabilizes with demand skewing more toward high-end buyers. Europe is portrayed as slower and tougher for secondary retailers, and India is framed as a longer-term opportunity rather than an immediate fix.
Opinion Time
Why I Bought The Venezianico Arsenale Bizantino
This opinion piece explains the appeal of the Venezianico Arsenale Bizantino through its richly engraved, Byzantine-inspired case and bracelet, where matte engraving contrasts against polished surfaces for a more refined look. It highlights the smoky gray fumé dial with luminous hands and indexes as a practical counterbalance to all the decorative detail. The watch is positioned as a strong value proposition, using a Miyota 9039 while keeping the price around €900. The author also calls out the bracelet construction, clasp quality, and a caseback depiction of Justinian I and Theodora as details that deepen the watch’s historical character.
The Latest Time
Brooklands
Brooklands Triple-Four Spectrum Offers Colourful Interpretation of Their Debut Racing Chronograph
Brooklands introduces the Triple-Four Spectrum as a more colorful, more accessible take on its debut racing chronograph, with styling inspired by the Napier-Railton. The collection keeps the core specs intact, including a 41mm steel case, 100m water resistance, and a Sellita SW500 chronograph movement. Two main directions are described: bold solid-color dials and a classic high-contrast panda layout, with each colorway limited to 50 pieces. Price is $5,304 (converted from £3,900).
Girard-Perregaux
Girard-Perregaux Pays Tribute to the Year of the Horse with a Special La Esmeralda Tourbillon
Girard-Perregaux marks the Year of the Horse with the La Esmeralda Tourbillon “A Secret” Eternity Edition, a highly artisanal limited run of 18 pieces. The long summary highlights an 18k pink gold case with deep hand-engraving and a vivid red enamel execution, plus a dial built around three gold bridges decorated with engraved horses and a tourbillon at 6 o’clock. Inside is the in-house GP09600 with a 50-hour power reserve and high-end finishing throughout. Price is $569,940 (converted from €483,000).
H. Moser & Cie
Introducing: Moser’s First Ceramic Watch, the Streamliner Tourbillon Concept Ceramic
Moser’s Streamliner Tourbillon Concept Ceramic is presented as the brand’s first full-ceramic watch, pairing a dark grey ceramic case and bracelet with a red fumé Grand Feu enamel dial. The long summary emphasizes the Streamliner’s fluid, minimalist design language, with the tourbillon displayed through an opening at 6 o’clock. It runs on the in-house HMC 805 with a three-day power reserve and a double hairspring intended to improve precision. Price is $115,364 (converted from CHF 89,000).
Hamilton
Hamilton x Resident Evil Requiem limited editions
Hamilton teams up with the Resident Evil Requiem game release on two black PVD limited editions tied to characters in the story. The Khaki Field Auto Chronograph leans into the theme with details like bullet-casing-inspired pushers, a 42mm case, and an automatic movement with a 60-hour power reserve, limited to 2,000 pieces. The American Classic Pan Europ is positioned as the slightly more streamlined counterpart, using the H-30 automatic with an 80-hour power reserve and a matte black dial treatment. Prices are $1,529 (converted from CHF 1,180) for the Pan Europ and $2,366 (converted from CHF 1,825) for the Khaki Field Auto Chrono.
Richard Mille
Richard Mille’s RM 41-01 Tourbillon Is A Soccer Timer Done In The Brand’s Quintessential Way: Extreme
Richard Mille’s RM 41-01 is described as an aggressively engineered, match-focused tool watch that builds soccer-specific timing into a tourbillon platform. The long summary calls out a flyback chronograph, a rotating match-phase display, and a mechanical score counter, all housed in advanced composite materials. The movement was developed over five years and is paired with a stated 70-hour power reserve, plus 50m water resistance in a large, sculpted case. A specific price is not provided in the database entry.
RZE
The Superfly RZE Resolute Type A — A New Take On An Old Concept
RZE’s Resolute Type A is framed as a modern, titanium microbrand take on classic 1940s “Type A” pilot-watch styling. The watch has a brushed Grade 2 titanium case with UltraHex coating for added scratch resistance, a 39.5mm diameter, and 100m water resistance. It uses an automatic Miyota 82S0 and will be offered in three dial colors: Carbon Black, Polaris White, and Medallion Yellow. Pricing is not yet announced, with preorders expected to start March 20, 2026.
Comparing Time
Best bronze watches
This comparison looks at why bronze has become such a popular case material, focusing on the warm, rugged look and the way each watch develops its own patina over time. It highlights a range of bronze options that span vintage-inspired designs, value picks, and more premium tool watches, emphasizing that the category offers something for nearly every style preference. The long summary calls out models that lean into different strengths, including dial texture, clean legibility, and strong everyday versatility. Overall, the selection is positioned as a cross-section of the most compelling bronze choices right now, from casual wearers to serious collectors.
Timex vs. Casio: After 10 Years of Hands-on Reviews, Here’s The Winner
This comparison frames Timex and Casio as two brands built on very different priorities, with Timex leaning into approachable design, comfort, and easy day-to-day wear. It points to Timex staples like the Weekender and Expedition Field Post Solar as examples of watches meant to feel simple and emotionally “right” on the wrist. Casio is presented as the durability-and-functionality option, with G-Shock used as the clearest symbol of that tougher, reliability-first philosophy. After weighing both approaches, the piece ultimately declares Casio the winner for long-term performance and consistent toughness.
Watching Time - Videos
20 Affordable Alternatives To Luxury Watches
This video rounds up 20 budget-friendly watches positioned as substitutes for popular luxury models, aiming to deliver a similar vibe without the premium pricing. The focus is on practicality and value while still keeping the designs “statement” worthy. It frames the list as a way to enjoy the look and feel associated with luxury brands while staying in an accessible price tier. Overall, it encourages exploring alternatives that prioritize strong aesthetics and everyday usability.
3 AMAZING New Watch Brands! Pretty Affordable Too!
This video spotlights three newer watch brands that are presented as both stylish and relatively affordable. It emphasizes how each brand brings a distinct identity to a crowded market, with design choices meant to feel fresh rather than derivative. The summary also stresses everyday considerations like durable materials and functional, wearable specs. The overall message is that interesting, well-made watches are increasingly available without spending a fortune.
Hands on: IWC Pilot Performance Chrono
This hands-on video focuses on the IWC Pilot Performance Chrono, highlighting a blend of tool-watch functionality and premium finishing. It showcases the chronograph as a practical feature, with an emphasis on real-world usability and precision. The watch is also framed as a strong fit for an active lifestyle, not just a dressy or collector-only piece. Overall, it positions the model as both a design-forward statement and a capable instrument-style watch.
OMEGA is DOWN BAD, Rolex Widens the Gulf; State of the Luxury Watch Market
This video discusses shifting momentum in the luxury watch market, arguing that Omega is struggling while Rolex continues to strengthen its lead. It frames the situation as part of a broader change in consumer preferences and brand perception across the high-end segment. The commentary suggests competitive pressure is reshaping sales performance and loyalty, affecting both legacy and newer luxury players. Overall, it treats the Omega-versus-Rolex gap as a key signal of where the market is heading.
The Best Pockets of Value In Watches in 2026
This video looks at where value can still be found in watches in 2026, calling out specific brands and models that offer strong quality for the money. It stresses the importance of understanding what “value” really means in today’s market, beyond just low price. The summary suggests the content is meant to help viewers make smarter buying decisions by focusing on features, build quality, and brand history. Overall, it’s positioned as a guide for finding standout deals without sacrificing craftsmanship.
This Isn’t Your One-Watch Collection
This video argues against the idea that one watch should cover every scenario, instead encouraging a collection that reflects different needs and moods. It emphasizes variety as a form of personal expression, where different watches can serve different occasions and roles. It also frames multi-watch ownership as a way to appreciate craft and innovation across styles and categories. Overall, it’s a mindset piece aimed at helping collectors rethink what a “great collection” can look like.
Talking Time - Podcasts
SJX Podcast: Louis Vuitton & De Bethune Travel in Style
This episode covers Louis Vuitton’s latest collaboration with De Bethune, introduced at the Tokyo launch, and explains why the partnership matters for both brands. It discusses key elements of the GMT Louis Varius wristwatch and the standout sympathique clock designed to pair with it. The hosts also share hands-on impressions of other LVMH Watch Week releases, including the Escale Worldtime and the Daniel Roth Extra Plat Skeleton. Overall, it is a focused rundown of what’s new, what’s notable, and what these launches signal for high-end watchmaking.
The Business of Watches Podcast: Gerald Charles CEO Federico Ziviani Makes The Case For Another Genta-Linked Brand
This episode features Gerald Charles CEO Federico Ziviani discussing Gérald Genta’s legacy and how the Gerald Charles brand evolved after the Ziviani family took it over. It explains the shift from bespoke production to a wider-market strategy, including growth in annual output and an average pricing level around CHF 27,000. The conversation also touches on broader industry topics, including Rolex’s dominance in the CHF 3,000-plus segment and a new COSC accuracy standard. It wraps as an industry-and-brand perspective on why Gerald Charles is positioned as a compelling, Genta-adjacent modern player.
BuyingTime at Auction
A few select current auctions that caught our eye on getbezel.com
[Wednesday’s auction watch, the 1994 Vacheron Constantin Patrimony Skeleton Chronograph 38 Yellow Gold / Skeletonized / Bracelet (47100/236J-3) - was bid to $39,500 but did not meet its reserve. - make an offer]
Patek Philippe Annual Calendar White Gold / Gray (5146G-010)
Auction Report: The Quiet Power Play: Patek Philippe’s 5146G-010 Annual Calendar in White Gold and Slate Grey
If you want a modern Patek Philippe complication that still feels unapologetically “old world,” the Annual Calendar ref. 5146G-010 is basically the brand’s greatest hit in three hands, three calendar windows, and one very civilized moon. The 5146 was introduced in 2005 as the successor to the original Annual Calendar ref. 5035, updating the concept with a larger 39mm case and making the moonphase part of the core Annual Calendar identity going forward. That matters, because the 5146 sits in a sweet spot: complicated enough to feel special, restrained enough to wear like a “normal” dress watch, and practical enough that you don’t feel like you’re cosplaying Geneva every time you check the date.
The 5146G-010 pairing is one of the best in the family: white gold with a slate/grey dial that reads more modern than the cream-dial variants, with applied markers, Arabic numerals at 12/3/9, and a layout that’s busy but balanced. Under the hood is Patek Philippe’s automatic calibre 324 S IRM QA LU, which is essentially purpose-built for this reference and explains the dial architecture: day/month are indicated via hands, the date is in an aperture, you get a moonphase, and the power-reserve is integrated into the overall symmetry. The annual calendar complication itself is the whole point: it will track day/date/month correctly for months with 30 and 31 days, and only needs a manual correction once a year at the end of February—exactly the kind of “real life” complication that makes sense if you actually wear the watch.
Now to the part that matters when the listing says “no box and no papers.” This example is pre-owned and presents honestly as worn: excellent dial/hands/crystal, with light hairlines and minor wear on the case and bracelet/strap hardware. That’s not alarming for a daily-wear Patek Philippe, but the absence of box/papers does change the buyer pool and usually forces price realism, especially on a reference where many comps do trade as full sets. Chrono24’s broader 5146G market snapshot pegs typical listings around the low-$30Ks, with a range roughly from the high-$20Ks into the low-$40Ks depending on condition, completeness, and seller profile. On the more data-driven side, WatchCharts currently estimates the 5146G-010 market price around the high-$20Ks (and flags the model as discontinued), which aligns with the idea that these are “value Patek Philippe complications” right now rather than hype-magnets. And if you want a reality check from public auction results, EveryWatch shows recent auction comps for the 5146G-010 selling in the low-to-mid $20Ks in Hong Kong in 2025—useful context, even before you discount for missing papers.
So how do you frame a bid? Think of this watch as two things at once: a legitimately important “gateway complication” in modern Patek Philippe history (the 5146 is a direct descendant of the brand’s breakthrough Annual Calendar lineage), and also a piece that the market prices rationally when it’s not a full set. With excellent dial/crystal and only minor wear elsewhere, the condition sounds wearable and honest; the missing box/papers is the lever that should keep you disciplined. If the bidding climbs into “full-set retail ask” territory, it stops being a smart buy and becomes an emotional one—especially when plenty of dealer listings for the reference live in that higher band precisely because they’re packaged, warrantied, and marketed.
The clock is the clock: the auction ends tonight at 3:55pm on Thursday, February 19, 2026. If you want an annual calendar you’ll actually wear—and one of the most tasteful grey-dial executions Patek Philippe made in the modern era—this is a compelling target, provided the final price reflects the “head only” reality and not the fantasy of a complete set.
Current bid: $12,250