Rolex just changed the Grey Market!

[@MarkEddie73]

Smart move by Rolex. How to make even more money and keep the secondary market bolstered.

[@JS-dt1tn]

thats how you know theres some fuckery going on.

[@edo7052]

Agreed!

[@richardhawkins1368]

Bingo

[@SirBender]

It’s at easy as it is. We have been discussing this distribution model for Rolex for almost 6 years now and we couldn’t understand why Rolex hasn’t launched a model like this, yet. It’s great for real watch enthusiasts! Great move!

[@oneal14attnet]

Only if they control the prices. If not the ADs will Jack up the “certified” Rolex prices above market due to the authentication attribute. It maybe just a bone for the ADs try to de-incentivize them not to sell out of the back door.

[@benzakonium]

Their policy should be to not charge more than retail for second hand watches from 3-10 years old. Beyond that should fall in to a vintage/out of production category and then have a strict pricing policy on that. Then it will bring the entire watch world back down to earth. They probably have something else planned, but this would make sense for customers.

[@AJ-bi6ns]

Demands sets the pricing, not a chance Rolex follows above unfortunately. Especially with the additional cost involved with CPOing the watch.

[@timjbuckley4]

How would they get the watch cheap enough to cap their resale price?

[@CalzoneOP]

It will be interesting to see how they lay out the ground rules for this! This could go so right, but so wrong at the same time. Let’s hope for the best👍🏼

[@alimuzhussain8394]

Adrian you are wrong my friend! Rolex does benefit from it. When the Daytona is sold by the grey dealer for £30k plus then it automatically enhances Rolexe’s brand image, and in a way makes it into a form of currency! Think logically if Rolex wanted to tackle flippery then they could have. Further, they won’t even introduce a stolen registry as the watches will be reported as stolen and be of lower value, like a stolen car, therefore Rolex will no longer work as a currency. Think logically it’s imperative that Rolex continues to have their brand image upheld and their watches to be as a form of currency. Hence the demand carries on, continues and even an eight your old child or a sixteen year old spoilt brat wants one! I invite your answers friend Adrian

[@alimuzhussain8394]

And also Adrian it is still possible to get a discount from a Rolex AD up until this day, but obviously it is very hush hush and have to be a long standing customer. Friend Adrian, it’s about time you reduced your coffee ☕️ consumption, stopped playing with your expensive 📷 camera (your videos are brilliant by the way) and you did some pure first hand research and became a proper watch journalist. On a seperate note keep up the good work.

[@alfieakaronaldog]

@@alimuzhussain8394 So you have got a discount recently then? What model do you have? Forgive me if I feel you have a massive chip on your shoulder and are more a Seiko guy.

[@jeremybaker5021]

These used models will be offered for sale at prices above all other second hand market resellers. It won’t solve a thing.

[@alfieakaronaldog]

It’s Provicative…. It gets the People Going!!

[@stueyx]

If I was a brand and almost my entire product range was associated with money laundering through the grey market, I'd probably like to be seen to make a token effort to address that too.

[@OnTheHundreds]

Literally what FIFA got in hot water for lol

[@derekeboyd]

Rolex could incentivize trading in pre-owned models by moving folks up "the list" on hard-to-get models. For example, an OP owner could get bumped up the list on a GMT if they're willing to trade in their OP for a sensible price. I doubt this would bring down the market on Daytonas much, but I could see this making it easier to get entry-level references like Explorers and 36mm OPs. Rolex has to be tired of sending folks across the street to Omega, and this would be a good way to sell people something with a crown on it. Maybe it will fill the gap between Rolex and Tudor that Omega, German brands, and Grand Seiko are filling now.

[@Joysho]

Great take. Rolex surely must of thought of this. The timing couldn't have been more obvious of the fact how the likes of Omega and others have been gaining customers at the loss of Rolex.

[@rorywoods6344]

Rolex are not interested in creating a part exchange business they are all about selling watches. Do you think they really care about customers, if they did they would produce more watches so the person in the street could actually buy one over the counter.

[@derekeboyd]

@@rorywoods6344 They are increasing production. New factory should be up and running in 2024. Every watch a scalper sells is one they didn't, and I'm sure they aren't happy about that situation. You could be right though. They could just be scalping their own watches now, but that's not a sustainable business model and will hurt them in the long run.

[@rorywoods6344]

@@derekeboyd Only time will tell. Derek.

[@derekeboyd]

@@rorywoods6344 At least we have watches to keep track!

[@antoineb3655]

The fact that you have to wait 3 years old after the 1st purchase of the watch is a smart move, so AD's won't be too much tempted to stock timepieces in the fridge. But, as you said, it will be interesting to see if Rolex has it says about the resell pricing or not. If not, well, things are going to get messy...

[@gpaje]

On a side note, someone mentioned Rolex could be doing this at cost, mainly for brand protection and bringing this side of the market to their control. Leaving the profit for their ADs and pricing out the grey market and flippers.

[@dangrove5794]

I can see it being worth them taking the hit to make this work, most likely for market control purposes going by how they police everything else

[@johnseeger9083]

Adrian, The reason to watch your channel is you treat us like mates talking over coffee. Yours keep the focus on us while talking about the eccentricities of these little things we wear on our wrist. Brilliant!

[@maxmeier532]

Rolex absolutely benefitted from inflated prices on the grey market because it effectively rendered a Rolex watch a scarce product that is highly sought after and often bought because of its perceived longterm value, not because of its physical value (or looks). It's all about the brand identity, that is where the value is. This guy is either stupid or lying.

[@Joysho]

This is basically Rolex getting a share of the pie of the grey market. The long term goal is to mostly get Rolex watches (pre owned) in circulation back under Rolex's control (directly or through ADs).

[@davedave2941]

Key words: Rolex regains control over their product 😉

[@brownmcpherson5724]

Just listened to Paul Thorpe's comments on this move by Rolex. He seems to think it really won't affect the resale market and he makes a good argument.

[@garethmunden]

He hopes it won’t.

[@brownmcpherson5724]

@@garethmunden check out the pre-owned section on Bucherer's site. Paul was correct. Prices are quite a bit higher than the gray marker.

[@Schweders]

This has to be coupled with a trade in program!

[@BarkandJack]

It will be very interesting to see what sort of prices will be offered.

[@King_Harrold]

@@BarkandJack it's already live on Bucherer UK website.

[@audemarspiguet4237]

Bucherer had this program for a few years now. And I can from personal experience they offer quite low prices for trade ins

[@PhilipWing]

@@audemarspiguet4237 yes. It seems like Rolex just partnered up with Bucherer who launched CPO 3 (?) years ago and is now just branding it "Rolex". I can confirm, they buy very low and sell quite high. Grey market dealers will probably keep doing what they're doing. Buy less low and sell not quite as high.

[@bomberbolton]

This seems logical, perhaps they will offer you a low trade in value but you jump the queue on a new watch

[@interflo91]

I think it’s a smart move by Rolex either way. They’re only going to benefit from this but I am hoping that the grey market will cool down a bit because of it. Yeah maybe this is me being naive but I’d love to see Rolex charge prices that are reasonably below the average market value just because they can. So much more people would have the incentive to buy their watches from Rolex again instead of pumping these absolute bonkers amounts of cash into Grey market dealers. Maybe this is Rolex taking charge of this situation like a boss. Or just a simple cash grab. Also what about vintage watches? If they service vintage watches and replacing dials like before etc. this could lead to a significant rise in vintage prices from grey dealers who keep them original. I am very curious to see what will happen.

[@rickjason215]

The AD sells his Daytona to his friend. His friend sells it for 30 grand and splits the profit with the AD. This happens all the time. Did you happen to notice the Grey Market dealers are able to get Daytonas and a guy like me gets told, I am on a list. If an AD gave someone 5 grand to sell a Daytona for him, how does Rolex know?

[@19NJS71]

ADs make millions. You think they risk their license for few a thousand dollars? 😅😅

[@19NJS71]

@@MT-kx2uc are you dumb? They don’t do this for all watches. Totally ridiculous

[@thedeeprot]

grey market prices are daft

[@garethmunden]

Almost as daft as the people paying them.

[@jonathanpittaway]

Adrian, you hit the nail on the head. It's all about the turn around time of the certification.

[@jamesm7721]

I think this will make the 2nd hand market costs come down which is a win for the buyer, win for rolex/ad as they're having a piece of the pie. Only 1 that loses is the flipper, which essentially means more watches out there for real enthusiast to buy, wear and enjoy

[@fortnajt]

The flipper wont lose much, unless the prices start to go down, i mean those people dont buy watches to wear them, they put millions into rolexes and put them into a safe so that they sell them latter at a higher value. That is the worst thing because people who actualy want to wear a rolex cannot get one. Rolex should make the ADs sell only one piece of a certain model to a particular person. Because these flippers mostly buy these watches directly from ADs because they have connections.

[@josefzeyad9688]

@@fortnajt You are absolutely correct and on point. People with connections are already using their millions to get hard-to-find watches from ADs using bribes and other favors. Imagine what they could do with the pre-owned ones.

[@ssolariss]

@@fortnajt very good, and possibly true, point

[@BrittPearceWatches]

This is such big & interesting news! 😱😱 MAN, I can’t wait to see how this plays out & the effects on the secondary market. Honestly… I have no clue what is going to happen! Im just so excited to see how it plays out.

[@nah3826]

facts

[@itsnowjoke1381]

I hope Ap do this then you might get your royal oak !😂

[@friskjidjidoglu7415]

I hope they end up providing a service where they give you documentation about a given watch’s authenticity when someone brings it in to get checked. Having a database like that could be really useful, especially for relatives who find themselves in the possession of another’s watch and they don’t know whether it’s real or not.

[@ImranMalik-qi2ge]

Or stolen for that matter

[@mytuberforyou]

Are you kidding? They don't even return stolen watches to the owner, you think they are gonna give your superclone back to you?? haha.

[@ImranMalik-qi2ge]

@@mytuberforyou I don’t know to be honest. Then why are stolen watches on the rise.

[@mytuberforyou]

@@ImranMalik-qi2ge stolen watches are on the rise because prices and popularity (exposure) of certain luxury watches is up, now more people know they can get a lot of money for that panda daytona, that means higher risk. Additionally there ia some political stuff like ccashless bail and minimal if any consequences to the thieves if they get caught so low risk, high reward incentivizes crime.

[@Podcastage]

I’ll be most interested to see the cost of these used watches. I can’t imagine them selling a new Sub for $9,000 and then having a used sub for $13,000. I imagine they’ll have to keep the used prices at a discount from the new watches. But hey maybe I’m wrong.

[@vygaudas777]

prices are already live on uk bucherer site and all in stock, well over retail pricing

[@Anonymouslyme1]

Double retail for subs in the UK

[@Podcastage]

Big oof. Why wouldn’t the A/D’s or Rolex just put the “certified pre owned” tag on new watches and charge 2x?

[@christopherbarone3987]

Went to a Ad in NYC….they were selling used pre owned rolexs for whatever the market price was. No date Submariner they wanted 17k

[@Podcastage]

@@christopherbarone3987 That’s insanity. I would not expect any way to for the average joe to buy new rolexes going forward now. It’ll just so happen to be that all the watches that are available are certified pre-owned and are now marked to market.

[@jeremyeagles3237]

I think that non AD sellers will have to charge less since they will not have official Rolex certifications on their watches. It will also be better for buyers to buy Rolex certified preowned watches aswell because now they know for sure what they are buying.

[@josefzeyad9688]

What if I tell you that the rolex green tag is the easiest thing to fake, so a reseller could buy a fake pre-owned tag and say he bought it from Rolex after it was authenticated by Rolex.

[@jeremyeagles3237]

@@josefzeyad9688 what are you talking about? This video is about authorized dealers selling pre owned watches….not you going to some random guy off Kijiji to buy it.

[@King_Harrold]

"may I buy your product at your advertised price?" "No but you may buy a secondhand watch that we've stuck a label on, for a hefty premium" 🤣😂🤣😂🤣😂🤣😂

[@BarkandJack]

Crazy innit.

[@King_Harrold]

@@BarkandJack only thing I can think is Rolex have a plan, as surely the ridiculousness of the notion of selling used for more than new is not wasted on Rolex. Maybe they see the looming recession as a chance to acquire stock and then bring down grey. Bar increasing desirability, do Rolex truly benefit from the ridiculous used / grey prices?

[@TheSkatereel]

That’s the secondary market period.

[@mychaelhouck2404]

This is super interesting, but I'll be curious how they treat older pieces. Will they replace parts before listing?

[@felixormiston5102]

I‘m pretty sure they‘ll be like new, Porsche wouldn‘t sell a 911 with a big dent on the side and tarnished tail lights

[@mychaelhouck2404]

@@felixormiston5102 I think you’re right, but I think it’ll probably not include older older stuff. Probably 6 digit references I’d imagine

[@martinwilliams1308]

The rebranding of «used» to «pre-owned» is the greatest marketing scheme ever

[@albertomontero9809]

I think the purpose of this move from rolex is not about profiting from it but to kill grey market intermediaries, who are the ones getting the big bucks from this. Rolex wants to support their official retailers around the globe.

[@rorywoods6344]

Have you seen their pre-owned prices. They just have bigger guns than the bandits now.

[@Bianuni]

3:08 Rolex are “Not” very strict about their retail pricing, here in Saudi Arabia, the official authorized dealer is charging “almost” grey prices for some of the high demand models, for example the GMT Master II - Batman is around $10K retail, but the Saudi authorized dealer in Saudi is charging it for $14K (without tax), same with Bahrain & Qatar Rolex ADs as well.. I feel this move will destroy the flippers only, as grey dealers can still purchase these authorized pre owned watches from Rolex and put a mark up on them and boost the prices further up for the pre-owned market. Great video 👍🏼

[@mmacoupon]

Im curious about the pricing as well. How could they sell a new watch at MSRP, then a used watch at above MSRP? That is unless they really bump up their prices.

[@dominichammond7362]

This is my question as well. Because common sense would think a "Second hand item" has to be cheaper than a brand new item, as why would you buy something brand new when you can buy a re-finished authorized Rolex cheaper. But then we know Rolex have a higher market price, so surely they will sell them for more ? But then why would you buy a second hand item for more when a brand new one is cheaper - I just want some answers 🤣

[@alexmurray2424]

Exactly! Sell them less than retail problem solved everyone can get the watch they want 😁

[@braaaaa.hk9216]

Good move to bump their retail price but keep in mind that scarcity for the new will continue

[@craigwthomson]

I can’t understand why anyone would expect them to sell their own pre-owned watches over their recommended retail price. Makes no sense. They have to sell them for less. Having said that, they could comfortably bump up the RRP on their most popular models by 10-20% and nobody would bat an eyelid.

[@christopherlowe2200]

Just had to double check the date , thought for a second it was April 1st

[@jpadiver]

I happened to be in Frankfurt this week and checked out the “pre-owned” Rolex being offered at Bucherer…. what I saw was >3 year old timepieces but in the condition you’d expect if serviced recently. Prices were what you might expect at the mid to higher end of the Chrono24 range for a given reference. I honestly don’t see this as making a dent in the flipper’s business model, as most people want the latest model with a decent amount of the 5 year warranty intact.

[@notenoughtime7274]

Interesting. Smart move. Makes sense. Key is pricing strategy to see how / if this benefits genuine watch enthusiasts, diminishes flippers and impacts overall demand vs supply for new models.

[@adamholliday3391]

I reckon that there will be a combination of higher prices from the ad due to the authentication and the grey dealers will lower their price. I value the rolex authenticity quite a lot as its their international reputation at stake. The issue I see is that Rolex may polish some pieces that shouldn't be and that they will replace the hands and dials even if they are only slightly damaged.

[@brianmurphy8154]

This could be good...if a customer wants a certified pre owned, he will pay a premium for that certification, but to sway customers away from that special certification, I would think other dealers would have to under cut the prices significantly. This could be a good thing for the buyer if he is willing to go with an in house inspection versus Rolex's certification process....wait and see

[@ripperx444]

A certified pre owned car almost alwyas sold below Msrp. This won’t affect flippers at all

[@topshelfdustin3300]

All this means is you'll pay 5-20% more for a certified rolex. This might actually drive the secondary prices UP more. One things for sure, this will not be good for the consumer.

[@Ashfielder]

Selling a used watch back to its manufacturer for more than a new one. Smashing.

[@Garagedrummer]

As someone who makes their living sourcing luxury cars to be certified and resold this idea is not a new one. The challenge on Rolex will the acquisition side. But on the consumer side this is great. Buying Certified gives piece of mind from probably the most counterfeited item in the world.

[@NicholasCFranklin]

170 videos for Adrian, only 84 that feature Rolex in the title. I did not bother counting the many that don't feature rolex in the title but a rolex in the video image. Please give us something else Adrian...

[@watchesandfitness]

A situation where a Rolex AD won’t sell you the brand new watch you want (at RRP) because you don’t have a buying history or to prevent flipping, but will sell you a 3 year old pre-owned version at way above retail, absolutely stinks. Rolex helping them to do so at the same time as throttling supply of new watches is even worse.

[@koalaslaw3790]

Imagine seeing 3 year old subs box and paper for 6,250 with no waitlist 🤯

[@matthewgranger992]

how on earth will that happen? Someone has to be willing to sell it to rolex for 4-5k as opposed to selling it on open market.

[@koalaslaw3790]

@@matthewgranger992 it’s possible if Rolex will do trade in for the certified pre owned.

[@MrHCars]

Massive market disruptor I think! Means people will start opting for the Rolex pre-owned watches for that certification/swing tag. The pre-owned dealers will now be dropping their prices because they can't offer 'certified' watches. I for certain, pay the premium for a used car from a manufacturer dealer, because I know it's approved used

[@legendarymoji]

Reminds me of StockX and their 100% authentic green tag fake sneaker debacle. I trust Rolex's best intentions, not the greed and deceit of man. Hopefully, the ADs can run a tight ship.

[@scoobyjohn1]

They will make it so you get better allocation spots by trading in, people trade in cheaper than what they could get because they will save by getting new watch at RRP. So prices on secondary market will tank. As people trade them in to get prices at retail.

[@SJArndt]

If a Rolex is full set incl. original invoice and you know what you are doing, why one needs this process?

[@THESnicz]

Great video thanks. I can’t see this changing much. The AD can play the same game but with CPOs and buyers will walk away with a special watch tag and pouch instead of the box wondering if they did the right thing…maybe. The price will be the clincher. A competitive price would hurt the grey market leaders faster than Berlin’s Watchmaster after the raid. Too soon?

[@sllc1081]

Been refreshing KZbin all day for your video on this

[@WatchClyde]

Here's the video I made months ago about this: kzbin.info/www/bejne/gqmpp6qddt94aLs

[@nintendokings]

The only real benefit for consumers here is having a 100% trusted place to buy pre-owned Rolex. But it’s all gonna depend on pricing.

[@Daijobustory]

Unless Rolex would from now on refuse service of any watches traded outside of its authorized dealership, it won’t make any difference

[@LatteMoi]

I felt recently that Bucherer was pushing customers to get the pre-owned watches because of *forced* shortage. But what if I’m not into pre-owned/vintage watches. There seems to be no room for some customers. I feel like I’m pushed to other brands because of this insensible policy.

[@UnderSurveillanceAP]

This will have zero affect on the Grey market other than adding another tier of Rolex you can’t buy unless dealers have readily available inventory of pre-owned watches.

[@Jayden-nh2vl]

Bucherer are currently selling Rolex certified preowned watches at market prices (check their website). So it looks like prices have NOT dropped at all. For example, a Rolex certified preowned Hulk is going for ~$26k USD. I imagine these prices were set by Rolex, trialing with Bucherer. Once the programme is rolled out to other ADs globally, they will apply the same pricing.

[@gyang333]

That's well above market.

[@realtoverland]

I just had a look at Bucherers website. Those are the same watched they had underctheir own certification program…what a shame

[@andrewgiblin3468]

Yep soon I'll be able to walk by used Rolex's at the AD on the way to the Omega AD!!

[@DanielFernandez]

This is awesome.

[@BB-gl7zt]

The real question is what the delta in pricing will be between CPO and grey dealer watch pricing. Small delta = bad for grey dealers. Large delta = not as bad. Also if Rolex wants to really put the screws into flippers, they will dictate that the ADs sell at lower prices which forces greys to depress theirs to compete. Probably not going to happen

[@UncleFjester]

*I just 3d printed a Certified PRE OWNED Hang Tag.... So there's that!*

[@roblockstock]

This is a great move by Rolex , already pre owned here in Copenhagen.

[@kevco01010]

I think it will cause grey dealers to have to lower their prices. That's if rolex prices their preowned competitively against grey market prices. Will they go higher due to the certified rolex authentication process or lower and cripple the grey market? It will also be dependent on how available and how much stock ADs will carry of these certified preowned watches.

[@Tikkaspecial]

"not going to be another Rolex video". The words I've been waiting to hear.

[@mintychris1]

In time, you will see certified used Rolex watches in the grey market and tags and certificates for sale on Ebay. In my opinion, it will increase the hype and will not affect the inflated prices. More shrewd Rolex marketing.

[@flyinb45]

I saw it as a potential way for them to control the secondary market supply. Any other scenario leaves them killing the desirability through scarcity play that they've been so successful with. I also don't see how they could market a used watch for over retail at an AD because that's what they'd have to do with current pricing and you'd be adding the certified pre-owned process on top.

[@Giovan_Nino]

👍 A grey dealer will likely pay you more than Rolex for your watch. So this will only work in your favour as a good way to part X a 3 year plus Rolex for a new model directly with your AD with hopefully less waiting list as the clincher…imo

[@Superdada]

My guess is these pre-owned pieces will trickle into ADs slower than new pieces. There will no doubt be wait lists for pre-owned now. Hence the grey markets will still exist as people don’t want to wait around forever.

[@MJagger89]

Fascinating thought I read today on a forum. What if Rolex has decent NOS inventory. Genius way to cash in!

[@Swishley.]

Let's hope it's not just another basis for a Rolex waiting list, only this time for pre-owned pieces...

[@Onthemainline]

Feels strange being this early... Good news too!!

[@glorybee9661]

Watches of Switzerland ROLEX AD been doing it for ages they have 90 pre owned Rolex selling them for crazy money with 2 year warranty. Similar gig . Have a look !

[@nintendokings]

Adrian, ADs do profit off high resell prices. Your average Joe can’t get a Daytona no matter how long he waits. This is because ADs know a Daytona sells for 3x retail, and make buyers indirectly pay 3x retail by buying a whole bunch of other crap before they are eligible for said Daytona.

[@albertmeyer8983]

Look at the certified pre owned section at Bucherer. These watches are more expensive the the regular second hand prices. The benefit is that they are certified and serviced by Rolex themselves but at a price…

[@alanross99]

I think a big plus for the AD is that you will be able to see these watches in person. When you buy from the 2nd hand market it’s almost always online and it’s often a crapshoot what the condition of the Watch will actually be. If the prices are competitive I think this is a slam dunk for Rolex. Very smart move.

[@sergiocastro588]

No one owning a Rolex will bring them back to Rolex if they know they can make more money in the gray market anyway, it’s the holders of the pieces and the potential sellers who can choose between selling it to Rolex for a certain price or bargain in the grey market for way more money, I don’t see how they could force it

[@AlfredoRGuillen]

Clever....probably a little late. Flippers have high valued inventories and market is on the sell side, so it is likely that pre-owned certificated Rolexes could be the best possible buy at this moment...

[@brysoga]

I think were Rolex to try and dictate that these watches need to be sold below market price then that means the ADs will only be able to offer the seller less than market value and therefore the seller will simply walk out and go around the corner to the grey dealer who will offer them market value to buy their watch.

[@scottgraham6717]

If the secondary market dealers keep their prices high, Rolex will have to pay those higher “market prices” to have any inventory. Why would anyone sell low to Rolex when they could sell high somewhere else? I expect the benefit (not insignificant) to purchase from Rolex will be to have Rolex certify the piece you are getting and the 2 year warranty and not some sort of “good deal.”Prices will still reflect what people are willing to pay, not being able to get retail prices.

[@daiwatkins1984]

If Rolex cap the pre owned prices, what’s to stop a grey dealer from buying a certified used from an AD and then marking it up to sell. Rolex certified and higher selling price. That’s a win win for a grey dealer.

[@JakesSake]

Is it correct that AD’s when buying a new Rolex have to supply the paper work and can’t hold it back anymore?

[@JakesSake]

@OfficialAdrianBarker can you give any info on here?

[@scottt.4596]

Ok. I just watched a half dozen videos on the subject of Rolex offering certified pre-owned watches and no one has mentioned ‘where’ Rolex is going to get the used watches. Any ideas?

[@VinithRaj117]

Isn’t Tourneau/Bucherer already doing this? They are currently selling preowned Rolex watches with 2 year warranty through Rolex. Isn’t this the same thing?

[@watchound.bernardo9738]

I aplaude any attempt to discourage flippers and get watches to enthusiasts, but 1) how will Rolex source Pre-owned watches at retail prices? Who will sell them a 30k Daytona for 12k? Why would Rolex accept trade-ins if they’re sold out? 2) how will this solve the demand issue? A few additional watches for each AD? 3) how does this affect grey dealers, if they still hold highly desired newly released watches at outrageous premiums and sell them? It might lower the price a bit by getting buyers to wait for certification (which is fake industry magnet as we know), maybe fixed refurbished watches (easier for Rolex to source under retail). The move is great but I can’t figure out the end game, unless this is an AD control mechanism or they feed demand for new watches.

[@VeiculoIongo]

In my experience selling pre-owned rolex, people really wont care about this rolex authorised tag. I feel this is more about giving a bit of the cake to the authorised dealers so they wont do shady stuff, but this will have 0 impact on the market IMO

[@rdvgrd6]

But will we have to wait 3 years on the waitlist to get a certified pre owned Rolex?

[@DH-bw2rx]

So where exactly will Rolex get the used watches to sell after reconditioning?

[@jramz8724]

Absolutely agreed with you, this is a new strategy by Rolex since they know that due to the current shortage situation, the grey market we’re taking advantage of it and loosing Rolex AD credibility and now, with this announcement by Rolex, the coustomer will have a peace of mind buying a re-certified, pre-owned timepiece by Rolex and its authorized dealers, in any case, authorized dealers will maintain the control of new watches, but at the same time, it will encourage customers to purchase a recertified and guaranteed piece by Rolex. I see the strategy by Rolex and I think it will gives you more credibility when buying it throughout an authorize dealer and I think that in the case of re-certified Rolexes, they will be more flexible when selling them, (regardless of the high premium price) because, it will attract serious customers that are really interested in buying the watches for their collection. I don't think you can’t re-selling a pre-own Re-certified Rolex in the grey marked at a much higher price than what is already priced at the authorized dealer, therefore, it will impact in my opinion the grey market and the only way to compete with the authorized dealers will be, lowering their prices. I’m sure that Rolex already came out with their own pricing control, based on the timepieces condition and any service that the watch will required in order to hold the Rolex Re-Certification and warranty. This will eventually will impact the grey market as well, other high end brands.

[@crtlover]

I can't see that this will make any difference. The market will still determine the pre-owned price of any particular model.

[@m37b]

Couple of hypotheses: 1) With the decline of secondary market prices, Rolex wants to take supply out of the market to stabilize prices to avoid prices falling below retail 2) Rolex wants its clients to buy more frequently. As many of its clients cannot afford to buy a watch every couple years, trading in old watches will become the way to go (essentially the car dealership model or Apple model) 3) To get on top of the waitlist for a coveted model, you might have to sell your older model back to the AD. However, the trade-in price offered will be significantly lower than market price. That way Rolex also has attractive margins in the second hand business

[@Nakirah]

Regarding point 3, i actually did that. I sold my Turn O Graph at half the market price to an AD to be in the list for GMT2 Pepsi. It took me 4 months to get the watch.

[@m37b]

@@Nakirah i see that as a competitive advantage for them to buy back older models

[@Nakirah]

@@m37b in my opinion, only if it gives you an advantage to buy a hot piece at retail. I wouldn't have sold them my Turn O Graph if it wasn't for a fast-track Pepsi.

[@shebbinho]

In my mind a used product of a company will be cheaper then a new one. But that will somehow probably not be the case with the pre owned watch market prices being higher then retail

[@troy9867]

Bucherer already has been doing this Pre-Owned Program for the past few years. With them being the main Rolex AD in Switzerland, now it is just "official"...

[@cam1723]

I already know this video will be great 🙌

[@EP-yi3gy]

Always love the videos. My initial reaction was negative. I understand Rolex is trying to do something about product and pricing and availability. But AD's aren't dumb. They will figure out another way by which they can game the system. If Rolex can control the secondary price, then maybe it will work? But how would they do that? People have to give the AD a watch, and they won't part with it under market.

[@ssolariss]

Very good question. The only way ADs will get a trade in is if the customer can get, let's say, a new Daytona in exchange quickly, for retail price or close. Rolex already controls the price for new watches, ADs can't cheat on that. More flipping means more money for ADs too. Customers and ADs can truly benefit from this.

[@tenson2410]

Good news , you’ll know the watch is absolutely bang on

[@gncrrr]

I see a lot of comments about pricing but not about being able to actually purchase a preowned Rolex at these AD’s. My guess is (other than Buchera) it will still be a challenge to purchase one at a local AD if they roll it out to them. Depending on the volume they get from Rolex, They’ll still hold it in the back safe and require you to purchase some jewelry and or a tag for the opportunity to purchase a certified preowned model. I certainly hope this isn’t the case but not holding my breath.

[@Sledgehammerengineer]

Exactly, i think it will still be a challenge to get one at retail from these ADs...

[@heahkl]

I owned a M16710 GMT Master 2, bought in 2000. Have sent in to Rolex Service Center for service on 2011 and July 2022. And I have to send in again on 1 December 2022 as it can’t wind. So that’s Rolex service Center for you. Yes, after service it gives 2 years global warranty. Wonder if this preowned program will be taxing for their service Centers.

[@TheologicalBackroads]

This is brilliant. Buying used this would allow you to have a guarantee of authenticity from the manufacturer. A condition standard will be set. Absolutely no work or worry on my part would be required to get a genuine Rolex in good condition. That being said much like preowned cars. A certified pre owned label has benefits but those benefits come with increased prices. Increased prices for used products makes it easier for someone to decide to trade in for a new model. That leaves me with the question of will Rolex be buying these from owners (imagine getting your watch serviced and having it sent back to you with a trade in value attached to it) or will it be more of a consignment setup where you can send your watch in and they pay you when it sells.

[@horstkaniny3614]

Could be a game changer the positive way. Maybe people decide only to buy certificate preowned for a Rolex fixed price… which one is lower than the actual grey prices…

[@frankguernier2280]

I fronted three official Rolex stores two in Europe and one in Australia to purchase a new Submariner. They were do smug and virtually told me to get lost. I purchased an under 12 months never worn from Watch Finder. Yes I paid more but am extremely happy.

[@stu632]

Bucherer charge a ridiculous amount for pre-owned watches. I have seen a second hand speedmaster on the Bucherer site which was a few hundred francs more than you could buy it for new in the Omega boutique next door. I think Rolex will control the price which will reign in the flippers market. However there may still be the flipping opportunity because of the 3 year period.

[@jonaskalen1759]

Bucherer have the Batman for $22400

[@tiongloo3473]

Wow, this move by Rolex is a paradigm shift to capture the pre owned mkt.

[@CHASI146]

Great video Adrian. I am trying to think how Rolex is going to procure the old watches?. By any means they have to end up in ADs ..may be sold to AD by the previous owners?..and then ADs certify them and resell at higher prices ?

[@thomasmargolis6057]

So still the other players in the game that offer Rolex for less pricing than ad, and simply the non ad(s) offer different type of warranty. And to any number of buyer, worth it?

[@TheWhiteLife]

The market will decide the price of second hand watches. Buying a Rolex-certified second hand watch will add peace of mind and so buyers will be attracted to this route but there’s a premium attached to the certification process. I’m not a flipper but if, as a private individual selling a watch, I have two (or more) choices, eg Rolex, Chrono24, or a private sale, I’d go for the one that gives me the best price. There’s no incentive that I can see currently for me to sell back to Rolex at a low-ball price (because they then have to check, service and guarantee a watch), rather than selling elsewhere at a higher price.

[@petee1968]

Smart move by Rolex IMO. They can use this to bring the used prices down, reducing the inclination of people to flip. Buyers will always prefer a certified pre-owned watch, so Rolex can control the prices.

[@keyboardbw]

The more I watch these videos the more I realise that boring Rolex isn't for watch enthusiasts but for traders, flippers, flexers and posers.

[@iseeq72]

My AD has a black sub for 19k for sale... that is ridiculous!

[@sheikhnasrullah6536]

Can’t wait to see their prices. Will prefer to buy a 1680 sub straight from the AD

[@robcarrier1969]

The one thing you've not thought about (or talked about in the video) is how much Rolex pay for the watches. That will dictate the sale price. Rolex don't have access to cheap watches, so they have to compete with Watchfinder etc, no? Will they take them in part ex against new watches? Now that would be interesting since your old Sub will be worth more than your new one - mind blown!

[@TrustMeIKnowEverything]

No impossible they won't pay over list

[@robcarrier1969]

@@TrustMeIKnowEverything Then they won't have any watches to sell...