Rolex Introduces the Rolex Certified Pre-Owned Program

Currently, Rolex has announced that Bucherer is among the dealers involved in the Rolex Certified Pre-Owned Programme.

Rolex has officially entered the pre-owned watch market with the Rolex Certified Pre-Owned Programme. In a long-anticipated decision, which some may argue is overdue, Swiss watchmaker Rolex announced yesterday in Geneva, and the implications will resonate for years to come.

Audemars Piguet has been endeavoring to establish its pre-owned business model for several years; Richard Mille has successfully implemented one, while the Richemont Group has taken action by acquiring Watchfinder & Co. Undoubtedly, all those names pale in comparison to the titan that is Rolex; yet, the key point remains unresolved: there is no information regarding how merchants will manage pricing.

What information do we now possess? In summary, Rolex is asserting its position over the future of its timepieces, even post-sale to consumers. Authorized merchants will commence the sale of pre-owned Rolex watches, which are confirmed as authentic and guaranteed by the brand, accompanied by a new international warranty valid for two years from the date of resale.

As of the latest update, only one merchant has been identified as a participant in the Rolex Certified Pre-Owned Programme: Bucherer.

The European retailer has operated its own pre-owned watch business for several years; this author considered purchasing a Rolex Oysterquartz at one of its Zurich locations but eventually refrained. The Rolex Certified Pre-Owned Programme will first be accessible in Switzerland, Austria, Germany, France, Denmark, and the UK through Bucherer.

Rolex's announcement indicates that this action will, in its opinion, mitigate the excessive global demand for Rolex watches over time.

Below is an excerpt from the aforementioned release: The new initiative enables the acquisition of certified and guaranteed pre-owned timepieces from the brand itself. The objective is to enhance the current inventory of pre-owned Rolex watches. When these watches are transferred, their authenticity must be verifiable at the point of resale by the Official Retailers.

Rolex promotes the resilience of its products. Due to stringent quality requirements, the brand manufactures timepieces with maximal longevity. It aims to support the secondary market for its timepieces, focusing on preservation, maintenance, and assurance of existing products. This method aligns with the Perpetual philosophy: the unwavering quest for excellence and a sustained dedication to future generations.

Individuals anticipating a resolution to the undesirable situation of new watches being resold beyond the recommended retail price will be disheartened to discover that the Rolex Certified Pre-Owned Programme is applicable solely to timepieces that are a minimum of three years old. In other words, refrain from anticipating the acquisition of that pre-owned Oyster Perpetual Submariner at this time. Consequently, this will likely result in the reappearance of Rolex watches for sale at authorized dealers, where warranty and authenticity concerns are addressed by Rolex.

As we anticipate updates from our local dealers in Singapore, Hong Kong, Dubai, and the North American market, we are assured that this decision will be positively received by Rolex collectors globally. We remain optimistic over the pricing matter, although managing this will necessitate considerable expertise from merchants.