Rolex CPO premiums at key retailers. (Data: WatchCharts)
Rolex’s Certified Pre-Owned program is bigger than ever, topping 10,000 watches in inventory for the first time since launching in 2022. While some existing RCPO locations were closed by multi-store retailers, the number of boutiques offering CPO continues to grow.
According to data released this week by WatchCharts, CPO premiums at major retailers have been trending lower over the past year. Premiums are now near, or at, 15-month lows across the board, a sign that retailers are adapting to the economics of the competitive pre-owned business, where margins are generally thinner, making inventory turnover more important.
“In the long term, we expect average premiums to come down if RCPO is to grow in scale and ubiquity,” the WatchCharts report says. The RCPO market now represents just 2.7% of Rolex’s estimated retail value, a sign of how much room there is still for growth. The hierarchy of premiums among key retailers has remained largely unchanged, with Bucherer and Watches of Switzerland having the highest premiums, followed by Tourneau and The 1916 Company.