Info about certified pre owned rolex

[JayBlack]

Hey guys,

Just thought I'd share my 1st time coming across an AD with the program already up and running and the info I got.

So I was at Bucherer in Düsseldorf, Germany. Obviously no new stock for sale but they got the new pre-owned certified program from Rolex already running.

The info I got was as follows:
1. Each AD can decide on the price of sale of every second hand model.
2. Rolex does not limit them in any way with regards to price.
3. The price they pay for a watch you bring in to sell is determined by the AD, so the price you will get for your watch may differ a lot between AD'S.
4. The prices for certified can be more than new.
5. They are "encouraged" to only buy models that have been discontinued. Or models that have dials or other features that have been discontinued. This to not create a competition between new and semi-new.

They had some 2tone DJ36 and ss DJ31 for sale as certified but nothing too exciting. As for pricing it's on the high side. The models can be had for much less from grey. But yes it comes with the certified warranty and they're an AD and they're not limited on pricing by Rolex

So there you have it folks, just some info for ya'll who got questions. I didn't get much more info about the process of buying or selling or upgrading or trading in cause I was in a rush but if you have some more info you want to add on the matter please feel free. Wish ya'll a great day.

[minute_man]

Much appreciated and thanks for sharing. Having access to a RSC where a grey purchased piece could be serviced would make for a cheaper alternative

[jamesbondOO7]

Originally Posted by minute_man

Much appreciated and thanks for sharing. Having access to a RSC where a grey purchased piece could be serviced would make for a cheaper alternative

exactly

[rambo99]

I think prices of the same model would be more or less the same among ADs, because CPO watches are serviced, authenticated and guaranteed by Rolex, not AD. although some ADs would count CPO purchases as spending history towards a brand new model, that's another story.

[toolr]

Originally Posted by rambo99

I think prices of the same model would be more or less the same among ADs, because CPO watches are serviced, authenticated and guaranteed by Rolex, not AD. although some ADs would count CPO purchases as spending history towards a brand new model, that's another story.

I haven't read anything from the Rolex CPO program announcement that says the watches are serviced. It states that they are checked and authenticated, then issued a hangtag, pouch and 2 year warranty card. The decision whether to service a watch seems to be up to the CPO AD.

[rmlovett1]

good info, thank you

[rambo99]

Originally Posted by toolr

I haven't read anything from the Rolex CPO program announcement that says the watches are serviced. It states that they are checked and authenticated, then issued a hangtag, pouch and 2 year warranty card. The decision whether to service a watch seems to be up to the CPO AD.

at least they will polish the watch before selling as CPO, i believe.

[RyanJ]

Originally Posted by rambo99

I think prices of the same model would be more or less the same among ADs, because CPO watches are serviced, authenticated and guaranteed by Rolex, not AD.

Where does it say that Rolex is physically doing all of this?

How do we know that ADs with a certified watchmaker are not doing this themselves with Rolex jut providing the hang tags? I highly doubt Rolex, itself, is servicing every single pre-owned watch bought by an AD for the CPO program. I mean I am sure for ADs that do not have a watchmaker they might get them but I bet they are pushing ADs to hire watchmakers.

The prices will be different. They are going to be whatever the market in that area can handle.

I also think this program is going to change a lot over the next few years. Heck, we may even get huge changes by the time this rolls out worldwide.

[alphadweller]

Originally Posted by RyanJ

Where does it say that Rolex is physically doing all of this?

How do we know that ADs with a certified watchmaker are not doing this themselves with Rolex jut providing the hang tags? I highly doubt Rolex, itself, is servicing every single pre-owned watch bought by an AD for the CPO program. I mean I am sure for ADs that do not have a watchmaker they might get them but I bet they are pushing ADs to hire watchmakers.

The prices will be different. They are going to be whatever the market in that area can handle.

I also think this program is going to change a lot over the next few years. Heck, we may even get huge changes by the time this rolls out worldwide.

Indeed. In the case of Bucherer, their preowned Rolex watches became Rolex CPO overnight (from Bucherer CPO). Have they sent them physically to the RSC and got them back the next day? I doubt it. Bucherer have their Rolex certified watchmakers on-site and perform a service if needed, although this service won't be needed on a recent watch (say less than 5 years). So what you're paying for with the CPO on a recent watch is really only the guarantee of authenticity and the 2 years cover. Yet it will cost you multiples of an overhaul at the RSC.

[Driver8]

Originally Posted by RyanJ

Where does it say that Rolex is physically doing all of this?

How do we know that ADs with a certified watchmaker are not doing this themselves with Rolex jut providing the hang tags? I highly doubt Rolex, itself, is servicing every single pre-owned watch bought by an AD for the CPO program. I mean I am sure for ADs that do not have a watchmaker they might get them but I bet they are pushing ADs to hire watchmakers.

The prices will be different. They are going to be whatever the market in that area can handle.

I also think this program is going to change a lot over the next few years. Heck, we may even get huge changes by the time this rolls out worldwide.

I think it's going to be no different to (for example) BMW's Approved Used Car scheme where they ALLEGEDLY put every used car through a comprehensive XXX point check and a thorough road test. I say "allegedly" as I can personally attest that at least two used BMW's I've bought over the years (and I've bought a lot) clearly went through absolutely nothing of the sort. In fact I'd have been surprised if they'd done anything other than just slap the "Approved Used" sticker on them.

I have a funny feeling the Rolex CPO will be much the same. In other words, the AD will take the watches in, pop that caseback to ensure it's not a fake (maybe not even that), slap a price on it (with at least a 50% mark-up), and get it up on-line or in the shop window ASAP. And if there are any issues down the track the (hopefully) "cast iron" Rolex warranty takes care of it. I'm prepared to stand corrected if all these watches really DO go back to Rolex before being approved, but I just can't see it.

[alphadweller]

Originally Posted by rambo99

I think prices of the same model would be more or less the same among ADs, because CPO watches are serviced, authenticated and guaranteed by Rolex, not AD. although some ADs would count CPO purchases as spending history towards a brand new model, that's another story.

They're not necessarily serviced. They are inspected and only serviced if needed. Does a 3 to 5 years old watch need a service? With an overhaul at the RSC, you pay a lot less ($800 to service a Sub for example) than the CPO (thousands over grey prices) and at least you know an actual service has been done on the watch, on top of the 2 years warranty and the authentication. To me, the CPO is a rip off.

[garyk]

I wonder how successful this program will be if the price point surpasses grey pricing? If the sale price included a service, that might make the watches more interesting, maybe?

[inadeje]

OP Thank you for providing the info.

[Popolos]

Useful info, Thank you.

[Amsterdam Local]

Thanks. The "encouraged to only buy discontinued" is probably one of those nod and wink things. It would only really pose a problem if dealers couldn't sell their stock of new.

[Dougiebaby]

Originally Posted by Amsterdam Local

Thanks. The "encouraged to only buy discontinued" is probably one of those nod and wink things. It would only really pose a problem if dealers couldn't sell their stock of new.

Heck yeah! Do you think any AD would pass up a 3 year old ceramic SS Daytona?


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[brandrea]

Thank you Jay, makes sense

[Rolexken]

Watched a video on YouTube showing an ADs display of CPO watches I think in Italy and prices were sky high - 19,000 euros for a 114060 and 62,000 euros for a panda Daytona!1

[Rolexken]

https://youtu.be/AqHvmEn_LJk

Here is the link see 3.30 to 4.30

[TBT]

That's interesting. I'm curious to see what the AD here in Saudi does if they participate in the CPO program. They set their own prices on new watches that seems to fluctuate with demand. For example I just bought a GMT Pepsi for the equivalent of $16,500, but my first purchase in February was a DeepSea that I paid $13,400 for, which was about retail at the time. However, both those prices include the 15% VAT, so the receipt technically reflects that I bought the DeepSea at a 15% discount.

[Jeffreylucky1]

My AD offered me $8k cash for my 126610LN the other day. This was not a trade. They offered to buy it from me.
I found that interesting because, even though it is worth more than that, a Rolex dealer was offering me more for my used watch than they would pay for a new one from Rolex.
I wonder what they would sell the watch for if I would have sold it?

[RyanJ]

Originally Posted by Jeffreylucky1

My AD offered me $8k cash for my 126610LN the other day. This was not a trade. They offered to buy it from me.
I found that interesting because, even though it is worth more than that, a Rolex dealer was offering me more for my used watch than they would pay for a new one from Rolex.
I wonder what they would sell the watch for if I would have sold it?

Probably $13k to $17k.

[Jeffreylucky1]

Originally Posted by RyanJ

Probably $13k to $17k.

That's about what I had guessed. I'm sure they could move it quickly.

[alphadweller]

Originally Posted by Jeffreylucky1

My AD offered me $8k cash for my 126610LN the other day. This was not a trade. They offered to buy it from me.
I found that interesting because, even though it is worth more than that, a Rolex dealer was offering me more for my used watch than they would pay for a new one from Rolex.
I wonder what they would sell the watch for if I would have sold it?

Theoretically, your AD wouldn't be able to sell it as Rolex CPO because it's not 3 years old (or older). Had they been able to, they would have probably sold it for $20k or thereabouts, given that Bucherer's CPO price for the older Sub 116610LN is €18k (on their French site).

[IamJacky]

Originally Posted by JayBlack

The info I got was as follows:
1. Each AD can decide on the price of sale of every second hand model.
2. Rolex does not limit them in any way with regards to price.
3. The price they pay for a watch you bring in to sell is determined by the AD, so the price you will get for your watch may differ a lot between AD'S.
4. The prices for certified can be more than new.
5. They are "encouraged" to only buy models that have been discontinued. Or models that have dials or other features that have been discontinued. This to not create a competition between new and semi-new.

Thank you OP this is great information and makes total sense.

I remember there were many posts here about how "Rolex should just let their AD determine their own prices" - it would seem that Rolex listened, although it's only for 3+ year old models.

[ltmgeller]

Thanks for the update

[JRell]

Point 5 is the biggest point. Encouraged, but not limited to buy watches still in production I assume.

[NYG1121]

This is going to give ADs a whole new form of leverage. Just like the car market, the better your trade the more likely you are to get an allocation. They will use this to make even more money and give watches to those that give them good CPO watches

[RyanJ]

Originally Posted by NYG1121

This is going to give ADs a whole new form of leverage. Just like the car market, the better your trade the more likely you are to get an allocation. They will use this to make even more money and give watches to those that give them good CPO watches

That is really their only carrot and I hope they use it wisely. The carrot I am referring to is being able to offer, at the time of trade, a new watch that you really want.

Let's say you really wanted a "Favorite Rolex" and you had a 3 yr old watch they wanted. Some would be willing to take a loss on the 3 yr old watch if it would guarantee (you walked out with) your "Favorite Rolex" that day.

Although, I have a feeling they are going to offer a spot on the waitlist most of the time with a few baubles being traded occasionally.

[ndane]

Great info! Thanks for sharing!