Rolex’s Certified Program Comes to the United States
Rolex announced the introduction of its Certified Pre-Owned (CPO) program, initially limited to select European countries. Now, this highly anticipated initiative is making its way to the United States. With Rolex watches becoming increasingly difficult to acquire, the program seems aimed at addressing the overwhelming demand.
For most, a replica Rolex-certified watch is as good as new, but there are still a few important aspects of the CPO program that need clarification. Here’s what we know so far.
How Does the Rolex Certified Pre-Owned Program Work?
Watches certified by Rolex under the CPO program come with a special guarantee card and a seal, similar to the green seal that accompanies brand-new models. These pre-owned watches also include a two-year international warranty, compared to the five-year warranty for new Rolexes. The program applies exclusively to watches that are at least three years old.
Where Can I Buy a Certified Pre-Owned Rolex?
Initially, Rolex’s CPO program was limited to Bucherer boutiques in select European countries. Now, it’s expanding to the U.S. and will be available at specific Tourneau/Bucherer locations, with Watches of Switzerland and other Official Rolex Jewelers expected to participate in the near future. Although you can view Certified Pre-Owned Rolex watches on Bucherer’s website, they cannot yet be purchased directly online.
How Will Pre-Owned Rolex Watches Be Priced?
Pricing for pre-owned Rolex watches can be tricky, involving multiple factors. Interestingly, it’s not uncommon to see a pre-owned watch priced higher than a new one due to market dynamics. While initial prices on Bucherer’s website seem to follow market trends, Rolex now has more influence over this segment. However, Rolex headquarters will not directly control pricing decisions – these will be left to the participating dealers.
Why Is Rolex Introducing This Program Now?
Rolex’s official statement on the CPO program mentions that it aims to “bring added value to the existing supply of pre-owned Rolex watches.” This move also seems designed to reassert control over the secondhand market, which has become somewhat chaotic in recent years. With this program, Rolex can better manage prices and ensure its voice is heard in the booming pre-owned watch market.
The CPO program also allows Rolex to further capitalize on the high demand for its watches, which has far outpaced the supply of new models. By certifying pre-owned watches, Rolex highlights the durability and quality for which its watches are renowned.
What Is the Certification Process?
While Rolex has not revealed all the details, several questions remain. Are the watches sent to Rolex for certification, or are they inspected on-site by dealers? Can you sell or trade in your Rolex at a participating location? Will certified replica watches be serviced before sale? Though Rolex is known for its meticulous approach, it’s unclear how these logistics will be handled in practice. Additionally, Rolex has yet to specify which conditions might disqualify a watch from certification.
How Will Vintage Watches Be Handled?
Rolex’s CPO program covers watches older than three years, meaning vintage models could also be included. However, vintage Rolex collectors often prefer untouched watches with original parts and patina. Standard Rolex servicing sometimes involves replacing parts and polishing, which might not align with the preferences of vintage enthusiasts.
Rolex has acknowledged this concern and stated that vintage watches will receive special treatment, referring to it as a “vintage service.” Customers will be given the option to retain old parts if replacements are recommended during servicing.
Impact on the Pre-Owned Rolex Market
The introduction of Rolex’s CPO program is expected to have a significant impact on the pre-owned market. Existing dealers like Bob’s Watches, one of the largest online sellers of pre-owned Rolexes, may face new competition. While the CPO program gives fake Rolex an edge, online retailers like Bob’s Watches are betting that the internet will remain a dominant sales platform for pre-owned models.
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