Rolex has lastly damaged the silence on a program to wrap its arms across the second-hand market, permitting clients to purchase watches which have been checked for his or her purposeful situation, licensed as real by the model (or certified approved sellers) and bought with a Rolex two-year worldwide guarantee.
Authenticated watches will even get their very own model of the coveted Rolex “wax sail” tags.
Rolex-certified pre-owned watches will initially be out there in Bucherer shops in Switzerland, Austria, Germany, France, Denmark and the UK beginning this month.
This system might be expanded within the new 12 months with extra approved sellers providing the service beginning subsequent 12 months.
“As a result of they’re constructed to final, Rolex watches typically stay a number of lives. And since they are often worn on new wrists, the Rolex Licensed Pre-Owned program now allows sellers within the model’s official distribution community to promote pre-owned fashions which can be licensed as real and include a brand new two-year worldwide guarantee.” Rolex confirms.
Rumors of the used program have circulated for months, and the place was first reported by WATCHPRO in April after plenty of approved sellers mentioned discussions have been underway on find out how to proceed.
Planning is more likely to have began an excellent deal additional again than that, with Rolex taking time to develop, fine-tune and take a look at the initiative with key companions corresponding to Bucherer.
There has additionally been “frenzied exercise” at Rolex’s main service middle, in response to a supply inside one of many hubs; together with within the US, which isn’t listed within the first six international locations beginning this month.
Rolex has quickly recruited further watchmakers and different employees to its Kings Hill service hub in Kent, and its approved supplier community has been inspired to put money into its personal watchmakers and workshops to satisfy the usual required for Rolex accreditation.
Promoting pre-owned Rolex is nothing new for approved sellers, however the model’s certification, accompanying guarantee and even useful extras like tags and different branded gadgets take the pre-owned enterprise to a brand new stage.
Rolex has not confirmed all the main points of this system, however clients can anticipate to see pre-owned watches displayed as elegantly as new watches in home windows and shows.
Not like new Rolex watches on show, the pre-owned watches won’t want the “For Exhibition Solely” indicators warning clients that they can’t purchase them.
Elevating pre-owned on this means is a possible sport changer for Rolex approved sellers who qualify to be a part of this system.
As a substitute of third-party sellers cashing in on promoting Rolex watches a number of occasions when a certified supplier solely makes a margin as soon as, sellers now have the chance to develop deeper relationships with clients who can see trade-ins as a rewarding a part of their watch amassing interest.
A broad imbalance between provide and demand over the previous three years has despatched Rolex costs hovering on the secondary market earlier than falling earlier this 12 months.
The wildest value swings have been for unused or newer watches traded on the grey market, and Rolex can keep away from having to take care of this volatility by limiting the licensed pre-owned service to watches which can be greater than three years previous.
Finally, searching for Rolex watches might be like shopping for a premium automobile.
Like visiting a Mercedes or Jaguar showroom, clients may have the selection of branded or used automobiles, however the used automobiles may have been totally checked, serviced and polished again to near-new situation at an accredited workshop.
It stays to be seen if Rolex clients will discover pre-owned watches at 25-50% off the brand new sticker value, as is typical within the automotive trade, or if they are going to be requested to pay 2x or 3x retail for pre-owned watches.
Rolex ADs talking to WATCHPRO this morning have expressed delight on the initiative.
Till not too long ago, pre-owned by the venerable Swiss producers was handled as a shady finish of the market the place manufacturers and their prestigious sellers would not get their palms soiled.
This initiative by Rolex blows away the final vestiges of that angle and drags luxurious pre-owned watches into the mainstream, the repercussions of which might be felt for many years.
Audemars Piguet started working pilot initiatives to develop a second-hand technique over 5 years in the past.
Richard Mille has already rolled out a community of approved pre-owned companions.
Manufacturers corresponding to Zenith and Vacheron Constantin have promoted the abilities of their artisan watchmakers to revive and promote classic items.
However Rolex would be the first to roll out a program on a big scale.
“In concrete phrases, the Rolex Licensed Pre-Owned program certifies the authenticity of pre-owned Rolex watches – that are a minimum of three years previous – on the time of resale by an official supplier displaying the particular Rolex Licensed Pre-Owned plaque,” the corporate explains.
“It ensures that these watches profit from the standard standards inherent in all Rolex merchandise and from the complete information and professionalism of the model’s worldwide community of specialists,” provides Rolex.
The Geneva big additionally has a farewell over the bow on third-party sellers and their clients who for years have profited from the explosion within the commerce of pre-owned Rolex watches.
“Rolex watches – new or pre-owned – ought to solely be bought from official Rolex sellers, who’re approved to promote and repair Rolex watches,” the corporate warns.
“Because of their abilities and technical experience, the sellers make sure that every watch continues to perform easily through the years. Solely the official Rolex community can present these ensures.”
#Rolex #revolutionizing #Hand #Watch #Market