The Two Pricing Systems Inside Rolex

Retail and resale. (Photo credit: Rolex)

Recent rumors of a Rolex GMT-Master II Pepsi discontinuation, which sent prices up by several thousand dollars in a matter of days, are a stark reminder of the two distinct paths to pricing chez Rolex. One is set by the brand through official retail prices, typically based on production costs, positioning and material value. The other is set solely by buyers and sellers, in a market where supply and demand dictate value.

That second path operates completely independently of retail pricing and material cost. In one example, a stainless steel Daytona retails for about $16,900 but trades near $30,000 preowned. Its Rolesor version retails around $24,000 but resells for roughly the same price, despite its higher intrinsic value. A Rolesor Daytona commands no premium, while a steel Daytona’s MSRP increase would have almost no effect on its secondary value.

Few industries are like Rolex, where watches with entirely different pricing dynamics can sit just feet from each other at official retailers. Prices in one display case are set by Rolex; in the other, by supply and demand, regardless of intrinsic value. At the whim of the brand, production can stop even if a model is in high demand. Conversely, the brand can reintroduce a line, putting pressure on prices for models thought to be discontinued. This process will play out again next month, as it does each year, when Rolex reveals its new catalog.

Now that Rolex benefits from secondary-market price swings through its wholly owned Bucherer’s CPO program, it stands to gain by playing the market. The brand could release a new Pepsi this year without discontinuation. But it may be better off discontinuing the model, then reintroducing it two years later to capitalize on the hype created by both moves, something it did with the yellow-gold Daytona with a green dial.

As Rolex Integrates Bucherer, Early Signs of Change Appear

Crown control. (Photo credit: Expedia)

Someone inside Bucherer is speaking to Inside Paradeplatz, and it makes for fascinating reading. Inside Paradeplatz is a fairly large blog fed by business rumors from Switzerland’s finance world. It is run by former business reporter Lukas Hässig, whose prose is reminiscent of yellow journalism. And though Bucherer, the Rolex-owned retailer, is based in Lucerne rather than Zurich’s Paradeplatz, Mr. Hässig has written two stories about it just this past week.

In his latest story, published Friday and already viewed nearly 30,000 times, Mr. Hässig said Bucherer has cut 20 positions at its headquarters, “including senior executives on the sales front, in marketing, and in the design and social media departments,” he wrote, speculating Bucherer's CEO Guido Zumbühl might be next, according to another inside source.

While his sources are unnamed and reader’s caution is advised, it is not far-fetched to think Rolex’s integration of Bucherer brings its own challenges and has entered a more disciplined phase. The report said Rolex is frustrated with Bucherer’s difficulty upgrading its IT system, an investment expected to reach 15 million francs.

Rolex CEO Jean-Frédéric Dufour said at Dubai Watch Week last November he is not interested in buying another retailer, describing the experience as a learning curve for the brand. “We have no intention of growing further than that. It was an opportunity, and we had to do it. Now we are maybe understanding the retail business a little better, and that is a good thing,” he said.

Mr. Hässig in his report claims the layoffs are because of tepid sales at Bucherer. When the most successful luxury watch company in history acquires a retailer with more than 2,000 employees, cuts at the top may be because of brand control as much as sales. Rolex’s image today is its most valuable asset, and Bucherer’s reputation reflects on the watchmaker.

With more than 60 locations worldwide, Bucherer is now a public-facing extension of Rolex. Whether the cuts are driven by sales or strategy, we won’t know. But if Inside Paradeplatz's reports are accurate, Rolex is shaping Bucherer in its own image, which is ultimately a win for the client.

A Rolex Patent Offers a New Vision for the Yacht-Master II

Rolex said the Dynapulse escapement was the result of nearly 10 years of development. It would be interesting to know what the brand has been working on over the past five years that we will see in the next five.

Meanwhile, in the shorter term, a patent published in 2023 for a new kind of countdown chronograph, after several years of research and development, has yet to surface, even as Rolex’s only countdown watch, the Yacht-Master II, has been discontinued. Coronet first reported on the patent in 2023.

While the Yacht-Master II required the wearer to use multiple parts of the watch, such as the Ring Command bezel and even unscrewing the crown to program the countdown, this new design simplifies the process by relying only on the pushers.

Unlike standard chronographs where pushers have unique roles, this movement uses a sequence-based logic of presses to cycle through modes, switching from programming to starting, stopping and resetting. The movement relies on a column wheel and a series of levers to determine whether the pusher resets the timer or adjusts the duration, eliminating the need for a Ring Command bezel.

Coronet has advocated for the relaunch of the Yacht-Master II as the brand has strengthened its ties with SailGP since leaving Formula 1, with a new design capable of generating the same excitement the Rolex Daytona does on land.

Rolex Makes No Money From CPO, Even as It Competes With Rolex

(Photo credit: Rolex)

There is no reason to doubt Rolex CEO Jean-Frédéric Dufour when he said Rolex does not plan to acquire more retailers beyond Bucherer. After all, mergers and acquisitions are complex and expensive, and the culture of an acquired company can be difficult to change. Still, Rolex should grow Bucherer’s footprint, as the brand is increasingly facing a new competitor: itself.

Rolex CPO may be the only competitor capable of weakening Rolex, since the brand earns no money from those sales, a fact confirmed recently by Rémi Corpataux, managing director of Rolex Germany. Yet the program, which was created to protect Rolex’s image, has become successful because it sells authentic Rolex watches certified by the brand. Rolex focuses on new watches, while the margin on CPO pieces stays with the retailer. Rolex says it will continue to let retailers keep 100% of the profit from CPO sales, even as the program has grown almost into a brand of its own, with sales estimated at about $500 million in 2025, up 60% from the year before.

The only way for Rolex to recoup more of that windfall is by expanding Bucherer’s footprint. Between Bucherer and its owned Tourneau stores, Rolex controls about 21% of global CPO inventory, slightly behind Watches of Switzerland, according to the latest WatchCharts estimates.

It is hard to overstate how the program has expanded Rolex’s secondary market rather than replacing grey dealers, as customers increasingly buy CPO watches when they visit Rolex boutiques instead of new models. Here are more staggering numbers: In the last three months of 2025 alone, CPO sales reached an estimated $172 million, which is roughly what Breguet generated in the entire year, according to Morgan Stanley.

Rolex Prepares for a Big Night at the Oscars With DiCaprio in the Spotlight

One crown after another. (Photo credit: Rolex)

When Rolex decorated the Greenroom at the Oscars for the first time, it was the year Leonardo DiCaprio won his first and only Best Actor Oscar. At the time, the Greenroom, the large lounge where presenters, nominees and winners relax during the show, was styled like a Hollywood Hills home.

Now the story may come full circle, as DiCaprio, the first actor to become a Rolex Testimonee, is a leading contender for Best Actor when the Academy Awards air Sunday. The Oscars remain the most-watched primetime entertainment broadcast in the U.S. and is one of Rolex’s biggest nights of the year, with CEO Jean-Frédéric Dufour likely in attendance.

Rolex updated DiCaprio’s page on its official website today with images from his latest film, One Battle After Another, and released a one-minute clip about the actor that ends with a shot of the Land-Dweller 40, a watch he has often been seen wearing since its debut last year.

Rolex said a Daytona in yellow gold with a green dial will be displayed in the Greenroom on Sunday, as it “perfectly echoes the elegant space designed by the brand to welcome the world’s leading actors and filmmakers,” the company said.

When Rolex first met in 2017 with Bill Kramer, chief executive of the Academy of Motion Picture Arts and Sciences, the discussion went beyond the Oscars. The goal, Rolex said, was also to inspire the next generation of filmmakers, the next Scorsese or DiCaprio. If DiCaprio wins Sunday, Rolex will once again be tied to the kind of moment an aspirational brand lives for, with one of Hollywood’s biggest stars reaching for the crown.

The new greenroom. (Photo credit: Rolex)

Rolex Built an Icon on Racing. Now It Is Steering Away From Cars.

From track to tack. (Photo credit: Rolex)

One of Rolex’s most famous watches, the Daytona, conjures images of high-octane racing. Now the brand itself embraces a philosophy at odds with driving.

Rolex said it is designing its new manufacturing campus in Bulle around access to the train station, the Mobul bus network and nearby cycling paths. The site will have 0.3 parking spaces per employee, about three spots for every 10 workers, an unusually low ratio that assumes most employees will not drive. Rolex said the design is meant to encourage workers to use alternatives to private cars.

Separately, in the canton of Geneva, a foundation financed by the Hans Wilsdorf Foundation, the sole owner of Rolex, is offering money to residents who agree not to drive. The program aims to reduce car use by offering a 500-franc incentive per participant to rely on public transportation, as well as access to bicycle rentals and shared vehicles from Mobility. Earlier this week, an initial group of 130 participants signed up to go one month without a car.

Rolex’s shift away from driving is not new. In 2024, it ended its Formula 1 partnership amid a dispute over the length of the contract, as the sport’s carbon footprint continues to garner attention. A few months later, Rolex announced it would strengthen its ties with SailGP, often called the “F1 of sailing.” Rolex is now the title sponsor of a sport it says is “geared toward delivering climate-positive events.” The series, which involves state-of-the-art catamarans reaching 50 knots, will return to Rolex’s capital of Geneva this September for the second year in a row.

As Rolex shifts from the gasoline-fueled racetrack to the sailing racecourse, it could do worse than revive the Yacht-Master II with a new design capable of generating the same excitement the Daytona does on land.

If the Rolex Pepsi Is Gone, What Happens to Superman?

Earthbound. (Photo credit: Rolex)

As rumors of the Pepsi discontinuation persist, the more intriguing story is the white-gold version with a meteorite dial, sometimes nicknamed the “Superman” because part of the watch comes from outer space. Despite its rare dial and the soaring price of gold, the watch has essentially flatlined on the secondary market, even after rumors of its discontinuation.

To hear the luxury media say it, it’s all but official that Rolex is axing the GMT-Master II “Pepsi.” The reason is unclear, but the headlines all point to a single Watchpro report saying that “Rolex has informed its authorised dealers there will be no more deliveries of the steel GMT-Master II with red and blue Pepsi bezel.”

Rolex could simply be upgrading its best-selling dual-time watch. The bezel could be made from a new material that is more complex to produce but has fewer failures, along with a new caliber featuring a quick date set, eliminating the need to turn the hour hand repeatedly. If it exists, such a version could prove kryptonite for current Pepsi prices.

While the steel version today commands a 95% premium, based on Chrono24 data reflecting sold prices on the platform, the meteorite dial barely hovers above retail at 3%. Granted, the retail prices are not in the same league, but that 92-point gap is still hard to explain. By comparison, the white-gold Daytona with a meteorite dial commands a 131% premium despite its already high MSRP and no rumor of discontinuation.

Still, the Watchpro report refers specifically to “steel,” raising the question of whether precious-metal versions remain. Asked to clarify, Rob Corder, editor-at-large at Watchpro, said the information he received referred only to the steel version. “The AD who told me there would be no more deliveries of the Pepsi was referring to the steel edition. Regrettably, we did not discuss the white gold,” he said.

If the Pepsi were truly discontinued in all metals, prices for the meteorite version should rise. But the market, at least for now, seems unsure about Superman’s fate.

Rolex Adds ‘2026 Winners’ Page, Putting the Focus on Victory

Keeping score. (From Rolex.com)

Rolex has added a new filter to “The Rolex Family” section of its website called “2026 Winners.” The page groups together for the first time artists and athletes associated with the brand who have already won a competition this year. Their images appear near the tagline “This crown is yours,” highlighting champions rather than simply Testimonees.

The change is interesting because it places the focus on victory, not just the effort. Coronet has reported on Rolex’s new philosophy associated with the tagline “Reach for the crown,” which debuted last year, a departure from its earlier slogans. A trophy matters when it reflects the long road taken to reach it, including the setbacks along the way. For Rolex, it’s not just about holding the crown, but reaching for it. Still, the new filter singles out those who have actually won in 2026 so far, turning the section into a running display of champions, a sign Rolex wants to be closely associated with triumph, not just attempts.

This is the first year Rolex has added a “Winners” filter on its website. The timing couldn’t be better, with the Oscars less than two weeks away and one of Rolex’s most prominent Testimonees nominated for Best Actor. If Leo wins, the new page will have a high-profile addition.

On Morgan Stanley Report, Rolex Has No Comment, but Tudor Pushes Back

House of Tudor. (Photo credit: Tudor)

Montres TUDOR SA, the sister brand of Rolex, has joined Swatch Group in questioning the accuracy of a report by Morgan Stanley and LuxeConsult on the Swiss watch industry, which compiles annual estimates of watch brand sales and production volumes.

A Tudor spokesperson said the gap between the bank’s estimates and the brand’s actual performance raises doubts about the study’s methodology. “The difference between the assumptions in the Morgan Stanley study on watchmaking and the reality of Tudor’s business performance is such, year after year, that we question the relevance of the methodology and the seriousness of the authors of this report,” the spokesperson said. The Swiss daily Le Temps first reported the comment.

Among the inconsistencies cited by Tudor is the report’s estimate of the brand’s revenue growth between 2024 and 2025, which it said does not correspond to the percentage increase reported in the same study. The spokesperson also pointed to confusion about Tudor’s distribution model. Morgan Stanley’s reports often attribute about 70% of Tudor’s sales to wholesale channels, even though the brand has relied exclusively on wholesale distribution since its founding a century ago, the spokesperson said.

Rolex had no comment on the report, which claimed the company’s sales topped 11 billion Swiss francs while it reduced production, or allocations to retailers, by about 2%.

Rolex Prepares Wider Use of ‘Superlative Certified’

Adjective flex. (Credit: Rolex)

Just two weeks after the Contrôle Officiel Suisse des Chronomètres introduced its new “Excellence Chronometer Certified” designation, Rolex has filed a trademark for the phrase “Superlative Certified.” The filing covers watches and watch components, as well as retail services and quality control, certification and authentication services.

The wording itself is not new. Rolex has used “Superlative Certified” on its green seal hang tag since 2015, while watch dials have retained the full designation “Superlative Chronometer Officially Certified.” The filing spans not only Class 14 goods but also retail presentation and formal inspection services, suggesting Rolex may use “Superlative Certified” more prominently in its boutiques, reinforcing it as a visible certification distinct from other Swiss standards.

The standalone “Superlative” trademark beneath Rolex’s crown logo is more intriguing because it separates the word from chronometry and suggests Rolex wants to make its own standard clearer to the public, distinct from COSC’s “Excellence” and METAS’s “Master Chronometer.”

Leaning Into Sustainability, Rolex Speeds Its Awards Program

Binbin Li, an environmental scientist in China, is one of Rolex’s newest Awards laureate. (Credit: Rolex)

In the latest sign of Rolex's financial wherewithal — and its desire to be more strongly associated with environmental causes — the brand has decided to accelerate the pace of its Rolex Awards. A program that previously operated on a two-year cycle will now run annually, effectively doubling the frequency of its support for explorers, innovators and scientists. This year, Rolex has shortened the name, too, from "Rolex Awards for Enterprise" to simply "Rolex Awards."

Founded 50 years ago, after then-Rolex CEO André J. Heiniger said the company had "a responsibility to take an active interest in improving life on our planet," the awards differ in that they are given for new or ongoing projects, not necessarily for past achievements.

Since 1976, the brand says, Rolex's backing has helped protect 32 major ecosystems, 57,600 square kilometers of Amazon rainforest and 137 endangered species, while contributing to the discovery of hundreds of new species. Laureates have also planted more than 50 million trees and developed 50 new technologies across environmental and scientific fields.

The program, which falls under the Perpetual Planet Initiative and is separate from the Hans Wilsdorf Foundation’s philanthropic activities, is run from Rolex’s headquarters in Geneva. In the future, the company plans to take a more active role in selecting applicants. Instead of waiting for submissions, Rolex will identify potential candidates and their projects and invite them to apply. For the first time in Rolex’s history, all five laureates this year are women, hailing from Indonesia, Nigeria, Peru, China and the U.S.

In 2026, Rolex May Keep More Profit Than Meta, Alphabet and Amazon

Big Tech cash flow and capex estimates for 2026. (BofA Global Research)

In 2026, Meta, Alphabet and Amazon are set to spend more cash than they generate in a costly race to dominate AI. Meta is expected to produce about $112 billion in operating cash flow, yet spend roughly $135 billion in capital expenditures. Alphabet is projected at $165 billion versus $185 billion in capex; Amazon at $182 billion versus $200 billion.

The estimates, released earlier this month by BofA Global Research, stand in stark contrast to Rolex, a conservatively run company controlled by the Hans Wilsdorf Foundation, whose mission is to preserve the brand’s long-term survival and support social causes.

Rolex’s largest recent capex was the acquisition of Bucherer AG, estimated at under 5 billion francs. It has also purchased land in Bulle for 31.4 million francs, where it is planning a 1-billion-franc manufacture scheduled to open in 2029. The investment is spread over several years and directed into Swiss property, a safe asset whose value is unlikely to fall.

Even after distributing more than 500 million francs annually through its foundation, Rolex will retain more operating profit than Meta, Alphabet and Amazon, whose AI spending is projected to exceed their cash flow, an interesting twist in an age dominated by Big Tech.

Still, the Swiss watch industry, including Rolex, is weighing how much to turn to AI at a time when customers turn to old-world watchmaking to escape it. At Rolex, Jean-Frédéric Dufour believes AI can help with quality control, as “it enhances human capacity,” he said at Dubai Watch Week in November. “You can replace the human eye with AI, and instead of controlling a sample of what you make, you can control 100 percent of what you make in the most accurate way.”

But Mr. Dufour also believes AI will have a limited role at Rolex. He said it should not replace personal interaction with clients or the watchmakers who assemble each watch by hand. “I think it’s very important we keep that in our industry. The final consumer wants to feel connected to something real,” he said.

Rolex Builds Flagship Stores; Its Foundation Buys Emergency Housing

The latest acquisition: a building on rue des Deux-Ponts in Geneva operated by the Hospice Général. (Credit: Hospice Général)

Rolex sponsors champions and virtuosos in the most visible way, while the foundation that owns Rolex supports the orphaned and downtrodden quietly. These are the two faces of Hans Wilsdorf’s legacy. In the latest example, the Wilsdorf Foundation has spent just over 56 million Swiss francs to buy a four-story building in Geneva, according to public notices published by the canton earlier this month.

The building purchased by the foundation is used by Hospice Général and, for the past four years, has provided 130 emergency and temporary housing places for families and individuals in crisis. Contrary to its name, Hospice Général is not a medical hospice but the Canton of Geneva’s public social welfare agency, providing support to residents in need.

As Rolex opens a raft of multi-level flagship boutiques worldwide, complete with celebrity appearances, the buildings acquired by the Wilsdorf Foundation to assist the homeless carry no sign indicating Rolex funding. Coronet has tracked the purchase of at least three former Geneva hotels transferred rent-free to charitable organizations, each acquired for a double-digit million sum in francs: La Cour des Augustins (32.5 million) for CausE; the Lido (12.3 million) for the Red Cross, supporting at-risk youth; and another property (26 million) for Cœur des Grottes, assisting women and children who are victims of violence.

Hospice Général will save more than 1 million francs a year in rent that it was paying the former property owner, while continuing to provide emergency housing and basic assistance. For the Wilsdorf Foundation, buying real estate is a safe way to preserve capital in times of uncertainty. As global investors seek refuge in gold and the Swiss franc, holders of both turn to the next best thing: Swiss property.

As COSC Tightens Standards, Rolex Pursues a Different Strategy

The Timekeeper’s keeper. (Photo credit: Rolex)

Chronometry has been in the news recently after the Contrôle Officiel Suisse des Chronomètres introduced a new certification with tighter tolerances to meet “the evolving expectations of both manufactures and clients.”

At Rolex, however, whose latest movement, the Calibre 7135, took a decade to develop yet carries the same precision rating as movements released by the brand 10 years ago, the focus is not on tightening tolerances. “Ce n'est pas la précision, mais c'est la protection de la précision,” a Rolex representative in Geneva told Coronet.

The goal with Calibre 7135, which incorporates 16 patents, was not to chase a stricter rating, but to protect the current one from “a long list of factors that can disrupt a movement’s smooth running,” according to Félix Grasser, a Rolex employee and chronometry specialist in its R&D division. Mr. Grasser said they routinely rely on hundreds of human volunteers who wear modified or standard watches, sometimes fitted with sensors, to study their long-term behavior, a sort of beta testing at Rolex.

“We have found that the way a watch is worn is the leading cause of accuracy issues,” Mr. Grasser said. “Rolex wearers lead very different lifestyles. Some are highly active, others more sedentary. It is not necessarily the most active who will see their watches become less accurate. The type and frequency of gesticulations, even if they seem perfectly normal, can have an impact.”

Rolex Unveils First Duplex Boutique in Southeast Asia

It’s next level. (Photo credit: Rolex)

In the latest example of Rolex ramping up its flagship retail presence, the brand has unveiled its first duplex-style boutique in Southeast Asia, featuring a two-floor layout that allows for expanded product displays across the Professional and Classic watch collections.

Rolex last week launched its newest boutique in Thailand, its 15th in the country. The boutique, located in Bangkok, is now the country’s largest, spanning more than 300 square meters, or 3,230 square feet. From Rodeo Drive to Bond Street, Marienplatz and Galleria Vittorio, Rolex is opening a raft of multi-level, Rolex-exclusive boutiques worldwide while ending contracts with some smaller multi-brand distributors. Unlike traditional retailers, these boutiques go beyond displaying timepieces; they immerse visitors in Rolex’s storytelling, showcasing its heritage, innovations and expertise.

The new Bangkok boutique, operated by Cortina Watch, a Singapore-based retailer that has partnered with Rolex for more than 20 years, occupies the ground and first-floor units of a building at ONE Bangkok. ONE Bangkok is a new $3.2 billion mixed-use development targeting 90 million visitors annually.

According to Rolex, the new interior blends the brand’s familiar design codes, including dark green marble, fluted wall patterns and bracelet-inspired lighting, with a nod to Thailand through a wall depicting the Temple of the Emerald Buddha.

Rolex’s new boutique in Bangkok. (Photo credit: Rolex)

Bigger Boxes, a Smaller Divide Between New and Pre-Owned Rolex

From half-size to full status: Rolex’s new CPO box arrives.

Rolex’s redesigned Certified Pre-Owned boxes are reaching official retailers. Coronet reported in January that the brand was preparing to release resized packaging for CPO watches to match the dimensions of its new presentation box.

Since launching its certified pre-owned program in late 2022, Rolex has used beige boxes roughly half the size of its standard green presentation, a choice aligned with its sustainability messaging while stopping short of the full new-watch experience.

But last year, Rolex also introduced updated eco-friendly boxes for new watches, built with a structure composed of 45% wood, compared with the previous version, which was 92% plastic. The same material is now being applied to CPO boxes as the program continues to grow despite a volatile economy.

By increasing the size of its beige CPO boxes to match the green ones, Rolex is narrowing the psychological gap between new and pre-owned. CPO clients are often first-time buyers paying a sizable premium, not only over retail but also over non-CPO listings. According to WatchCharts, the global median CPO premium stands at 28% compared with non-CPO pre-owned watches.