Rolex enters the secondary market

In December 2022, There was news that surprised the watch industry. Rolex officially announced its Certified Pre-Owned (CPO) program.

ⓒ Rolex

These certified pre-owned watches come with a seal and warranty card similar to the previous Rolex genuine warranty package and include a two-year international warranty. There does not seem to be a significant difference from the official overhaul service. However, It is limited to models that are at least three years old, Which distinguishes them from products purchased for short-term resale, But most models currently distributed in the market are included.

Where can you buy them?

The program was first launched at Bucherer, An authorized dealer that has maintained a close partnership with Rolex throughout its history. Bucherer has 38 stores in Europe, And 25 of its boutiques are said to participate in the CPO program. In fact, Bucherer has already started CPO since 2019. After acquiring The Watch Gallery in the UK in 2017 and Tourneau, The largest luxury watch company in the US with over 100 brands, In 2018, Bucherer has secured a strong online and offline network. For reference, Tourneau is an official dealer of Patek Philippe and Rolex and has also been offering its own CPO services for some time.

What watches are actually being sold?

On the Bucherer website, Watches are listed under the 'Rolex Certified Pre-Owned' category, And you can also check the locations of the participating stores.

ⓒ Bucherer

With the phrase 'The products we have selected are fully verified by Rolex and come with a two-year international warranty, ' a total of 365 watches were found to be listed. Most of them are models from before the introduction of the new movement, And no vintage or rare pieces were found.

Number of Rolex models registered as certified pre-owned

Also, The five-digit reference number watches introduced on the website could not be found in the actual sales list. In fact, The surprising part is the price.

Comparison of pre-owned prices for popular models

Compared to the VIVER Index and the domestic secondary market price, These watches are being sold at least 30% higher, And in some cases nearly double. While we will have to watch their future sales strategy, It seems that Rolex-certified pre-owned watches have absorbed all the market premium.

GMT-Master 2 116710BLNR

40mm, Black, Oyster

GMT-Master 2 116710LN

40mm, Black, Oyster

Submariner Date 116610LV

40mm, Green, Oyster

Submariner 114060

40mm, Black, Oyster

Submariner Date 116613LB

40mm, Blue, Oyster

Rolex's entry into the secondary market, What is the outlook?

Why is Rolex, The top brand, Directly entering the still chaotic pre-owned watch market? Regardless of the profit background or method, It is clear that the focus is on 'trust, ' which is the most important factor in pre-owned watch transactions. Resolving uncertainties about authenticity and the condition and function of the watch is a strong appeal to potential customers who have hesitated to purchase pre-owned watches until now. This is also the same goal that VIVER has pursued since its inception.

If Rolex's CPO service becomes more active, There will be significant changes in the domestic secondary market, Which has so far provided inferior services compared to overseas. As more consumers with higher standards for luxury watches enter the market, It is expected that the industry will soon need to provide services and technical expertise comparable to those of the brands themselves, Rather than simply buying and selling pre-owned watches.

VIVER engineer

VIVER is ready to lead this market, Equipped with the best watch engineers and inspection equipment in Korea. Please trust us and watch for the great changes we will bring to the watch market in the future.