Watches

Rolex to Certify Pre-Owned Watches

WatchesDec 01, 2022

Rolex to Certify Pre-Owned Watches

Retailers within its official distribution network will be able to sell the authenticated timepieces.

The new Rolex Certified Pre-Owned program will give the Swiss watchmaker a foothold in the growing secondhand luxury market and marks a sea change for the multibillion-dollar industry.
Geneva—Rolex SA will now certify used watches, the company announced Thursday.

The Swiss watchmaker has launched the Rolex Certified Pre-Owned program, allowing retailers within its official distribution network to sell authenticated pre-owned Rolex watches.

It will authenticate secondhand Rolex watches that are at least three years old at the time of resale by an official retailer, providing the retailer with a Rolex Certified Pre-Owned plaque.

The new program “guarantees that these watches benefit from the quality criteria inherent to all Rolex products and from the full know-how and professionalism of the brand’s worldwide network of experts,” said Rolex.

The authenticated watches will come with a special seal, a service booklet, and an international two-year guarantee card and accompanying booklet.

The guarantee card is given at the time of sale and confirms the watch is genuine and in proper working condition.

“Rolex advocates the durability of its products. Thanks to uncompromising quality standards, the brand produces watches with the longest possible lifespans. It therefore wishes to accompany the second life of its watches already circulating on the market, with a view to preserving, maintaining, and guaranteeing what already exists,” said Rolex.

The program initially will only be available in Bucherer boutiques in Switzerland, Austria, Germany, France, and the United Kingdom, starting this month.

In spring 2023, other official Rolex retailers can opt into the program. Non-authorized dealers and auction houses will not be able to participate in the program, Bloomberg reported.

 Related stories will be right here … 

Demand for used luxury watches is on the rise, and the new program will give Rolex a foothold in the growing pre-owned watch market.

Its watches are a hot commodity on the secondhand market, particularly in light of recent supply shortages, selling well above sticker price.

In McKinsey’s “State of Fashion, Jewellery, and Watches” report, the research firm said it expects sales of secondhand fine watches to reach $30 billion by 2025, making it one of the fastest-growing segments in the luxury industry.

For more information on the Rolex Certified Pre-Owned program, visit the Rolex website.
Lenore Fedowis the associate editor, news at National Jeweler, covering the retail beat and the business side of jewelry.

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