Bling bust? Rolex enters second-hand market for the first time: the Swiss watchmaker just launched its ‘Certified Pre-owned Programme’ in Europe amid a timepiece price crash as supply outstrips demand

- Watch prices shot up in 2021 amid Covid-19 as the rich splurged on luxury goods instead of travel, or searched for more stable investments than stock or cryptocurrency
- Now, as Audemars Piguet, Patek Philippe and other brands are experiencing price drops, consumers can buy second-hand Rolexes through its official retailer Bucherer
Last week, the Swiss company launched a “Certified Pre-owned Programme” for watches that are at least three years old. High-flying customers can now purchase a second-hand Rolex through Bucherer, the brand’s official retailer, in six European countries, according to a company press release.

Rolex has historically certified its products with a guarantee card and green seal. Now, certified pre-owned watches will be minted with the brand’s official insignia as well.
New watches usually receive a five-year warranty, but certified pre-owned ones will only receive a two-year warranty, according to a Rolex press release.
Prices for models from brands like Audemars Piguet and Patek Philippe have been steadily declining as well.

Rolex might be stepping into the second-hand arena as a way to mitigate the declining prices and keep control over the market.
“The new programme makes it possible to purchase pre-owned watches that the brand itself has certified and guaranteed. Its aim is to bring added value to the existing supply of pre-owned Rolex watches. Because when these watches change hands, their authenticity must be attestable at the time of resale by the Official Retailers,” Rolex noted in the press release.