Rolex has launched a new certified pre-owned program that allows consumers to purchase previously-owned watches that are proven to be authentic. This program is designed to preserve and maintain existing watches up to three years old, granting them a two-year guarantee of validity from the date of purchase. This program will be launched in select Bucherer boutiques across Europe, and additional retailers will be able to join in the spring of 2023.
Official dealers will have a Rolex Certified Pre-Owned plaque, and products will come with an authentication seal and a guarantee card.
"Rolex watches – new or second-hand – should only be bought from Official Rolex Retailers, who are authorized to sell and care for Rolex watches," the company said in a statement. "Thanks to their skills and technical expertise, the retailers ensure the continued smooth functioning of each timepiece over the years. Only the official Rolex network is able to provide these guarantees."
Pre-Owned Luxury Watches
Rolex Launches a Certified Pre-Owned Program for Secondhand Watches
Trend Themes
1. Certified Pre-owned Programs - There is an opportunity to develop more certified pre-owned programs for high-end brands to tap into the growing market for second-hand luxury watches.
2. Authentication Technology - There is a potential to develop more advanced authentication technology that can better detect counterfeit luxury watches and reduce the risk of fraud in the market.
3. Sustainability in Luxury - There is an opportunity for luxury watch brands to promote sustainability by extending the lifespan of existing watches through certified pre-owned programs and repairs rather than encouraging customers to buy new models frequently.
Industry Implications
1. Luxury Watch Retail - Luxury watch retailers can benefit from offering certified pre-owned programs to tap into the growing market for second-hand luxury watches and attract budget-conscious customers.
2. Authentication Technology - Developers of authentication technology can benefit from creating more sophisticated technology that better detects counterfeit luxury watches and helps reduce fraud in the market.
3. Luxury Repair Services - Luxury watch repair services can benefit from partnering with luxury watch retailers to offer repair services for certified pre-owned watches and extend the lifespan of existing watches.