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Rolex Announces Its Official Certified Pre-Owned Programme

blufinz52
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The second-hand watch market is growing rapidly, becoming a segment of the industry that brands can’t overlook anymore. According to consulting firm Deloitte, the market is growing steadily, with a current value in the region of CHF 20 billion. And the potential is huge, as it could be worth CHF 35 billion by 2030. As with such a large segment of an industry, it has to be controlled in certain ways, and this is when watch brands and top-tier retailers enter the room. Their idea to control the market, to offer security and to grab a slice of this immense cake is named CPO or Certified Pre-Owned (a term already familiar in the car industry). A few brands and established retailers have already announced such programmes, but today the situation is getting an entirely new face, as the world’s largest watch brand shows up. Meet the Rolex Certified Pre-Owned Programme. Big news… Very big news.

https://monochrome-watches.com/indu...nces-the-rolex-certified-pre-owned-programme/
 
gbesq
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How many preowned Rolexes that I don't want do I have to buy before I can get a preowned Sub? 😁
 
Evitzee
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Ah, yes, control! What product or program wasn't improved by government or corporate control?
 
JwRosenthal
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So we are going to have to buy 12 gold plated quartz Seiko’s, 8 broken Benrus’, 3 19mm chrome plated ladies watches and 5 G-shocks that look like they got run over by a truck to be on the waiting list for a CPO Rolex.
 
janice&fred
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For seasoned collectors it will mean nothing. For Hodinkee-types it will be the holy grail. So how is Rolex supposed to get their hands on these pre-owned pieces? Through retailers taking in trades?
 
dsio
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janice&fred janice&fred
For seasoned collectors it will mean nothing. For Hodinkee-types it will be the holy grail. So how is Rolex supposed to get their hands on these pre-owned pieces? Through retailers taking in trades?
It’ll be funny if they sell you a Daytona for $15k then buy it back off you for $20k to sell to someone else for $25k.
 
Dan S
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This seems like Rolex throwing a bone to retailers. I can't imagine that Rolex itself will make much revenue from a program like this.
 
JwRosenthal
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janice&fred janice&fred
For seasoned collectors it will mean nothing. For Hodinkee-types it will be the holy grail. So how is Rolex supposed to get their hands on these pre-owned pieces? Through retailers taking in trades?
One can assume that’s their plan- works for the auto industry- offer a small percentage for trade in (on stock they don’t have), and flip it for a massive profit.
If they expect people are going to be waking in off the street and selling them- they better have cash and reevaluate their dress code.
 
gbesq
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Combine this with Mercedes certified preowned program and it will be a dream come true for every aspiring young urban professional. 🙄
 
janice&fred
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I suspect Rolex will simply assemble "vintage" watches ala Watchco style out of their mountain of parts inventory and pop them as certified pre-owned.
 
JwRosenthal
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janice&fred janice&fred
I suspect Rolex will simply assemble "vintage" watches ala Watchco style out of their mountain of parts inventory and pop them as certified pre-owned.
And all the vintage parts they keep from servicing watches even though those parts are rightfully the property of the owner.
 
gbesq
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JwRosenthal JwRosenthal
And all the vintage parts they keep from servicing watches even though those parts are rightfully the property of the owner.
Rolex has a corporate philosophy similar to that of many ex-wives: what's mine is mine and what's yours is mine.
 
Dan S
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JwRosenthal JwRosenthal
So who is going to structure and manage the new Rolex CPO program?

I think this guy is looking for a job, and he can apparently sell anything. ::stirthepot::

1200x-1.jpg
 
bananapeanut
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I don't understand this part: "The Rolex CPO programme concern only watches that have been purchased from authorized retailers, and that are more than three years old. The idea here is to prevent flippers and speculators from bringing back 'unworn' watches to have them part of the CPO programme."

Weren't all Rolex watches on the market initially "purchased from authorized retailers" ?
 
gbesq
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Dan S Dan S
I think this guy is looking for a job, and he can apparently sell anything. ::stirthepot::

1200x-1.jpg
Dan gets the best post of the day award.
 
gbesq
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bananapeanut bananapeanut
I don't understand this part: "The Rolex CPO programme concern only watches that have been purchased from authorized retailers, and that are more than three years old. The idea here is to prevent flippers and speculators from bringing back 'unworn' watches to have them part of the CPO programme."

Weren't all Rolex watches on the market initially "purchased from authorized retailers" ?
If you include sales out of the back door of AD's to grey marketers, then yes.
 
bananapeanut
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gbesq gbesq
If you include sales out of the back door of AD's to grey marketers, then yes.

Sure but how will other ADs (or Rolex) know if your watch is a front or back door watch when you try to trade it in ?
 
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