(Photo credit: Rolex)
Despite an 11-consecutive-quarter drop in the pre-owned luxury watch market, Rolex's Certified Pre-Owned program is rapidly expanding — that's according to the latest report by WatchCharts and Morgan Stanley published Tuesday.
Even as overall Rolex preowned demand has softened, the CPO program has grown a staggering 300% in just one year, from 25 to 107 retailers globally, operating a total of 217 storefronts. Inventory has surged as well, with 7,500 CPO listings up from 4,800 listings in April 2024, WatchCharts said.
In the latest sign of retailers' confidence in the Rolex CPO market, Dubai-based Ahmed Seddiqi & Sons, the Middle East’s largest distributor, opened its first boutique dedicated exclusively to Rolex CPO models in Dubai in late 2024.
Rolex CPO growth aligns with broader industry trends, as more than a third (36%) of Swiss watch brands now plan to develop or create their own certified pre-owned program, according to a Deloitte survey released Thursday. The number of people who say they are likely to buy a pre-owned timepiece has doubled between 2020 and 2024, Deloitte said.