What is the Rolex Certified Pre-Owned Programme about? The Rolex CPO programme concern only watches that have been purchased from authorized retailers, and that are more than three years old.
According to the brand, “ the Rolex Certified Pre-Owned programme now enables retailers in the brand’s official distribution network to sell second-hand models that are certified as authentic and which come with a new two-year international guarantee.“ Rolex has just announced its own Certified Pre-Owned programme.
The market for used watches, and specifically those that are the most often seen and most coveted on this market, is about to change drastically. Your local retailer could easily create one, even your local used watch shop… The important thing with CPO isn’t really the programme itself, it’s about who is backing it up. The main problem here is that anyone can claim to have their own Certified Pre-Owned programme. It, of course, comes at a cost, but also should on the principle reassure potential customers before deciding to acquire a used/second-hand watch. What is CPO or Certified Pre-Owned? Basically, a stamp of approval of the authenticity, of the quality and of the proper functioning of a watch, which often comes attached to stringent inspection and a warranty programme. A common thing in the car industry, such as Porsche Approved or Ferrari Approved, it has started to spread around the watch industry in the past few years. In order to bring some security to potential customers, and to control some of this market, watch manufacturers, just like car manufacturers, have decided to create CPO or Certified Pre-Owned programmes. Journe, Richard Mille, MB&F or De Bethune. Of course, the situation isn’t perfect, with a wide typology of actors, from privately-owned local shops selling vintage and used watches, to large retailers offering watches with certifications and warranties, and finally, watch brands themselves starting to offer pre-owned watches – think about F.P. The market for second-hand watches is huge and it shows rather incredible potential for growth. Meet the Rolex Certified Pre-Owned Programme. 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. 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). 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.
And the potential is huge, as it could be worth CHF 35 billion by 2030. According to consulting firm Deloitte, the market is growing steadily, with a current value in the region of CHF 20 billion. The second-hand watch market is growing rapidly, becoming a segment of the industry that brands can’t overlook anymore.
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