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.

As Rolex Challenges the Grey Market, It Puts Pre-Owned on the Map

Charting a new route for Rolex CPO. (Rolex.com)

In the latest sign of Rolex’s deepening investment into certified pre-owned, the brand has added a dedicated CPO store locator to its website.

When Rolex’s CPO program was announced in late 2022, it was widely viewed as a way to appease customers unable to buy new pieces. Today, it’s looking increasingly like a move to undermine the grey market.

“The idea actually came from the United States,” Jean‑Frédéric Dufour revealed at a Dubai Watch Week forum in November. “We noticed that in some points of sale the number-one brand was Rolex, and the number-two brand was Rolex secondhand.”

The CPO store locator is part of Rolex’s interactive map, which also lists service centers and authorized dealers, officially branded as "Rolex Retailers" globally and "Rolex Jewelers" on the U.S. version of the site. By increasing the visibility of CPO alongside new retail, Rolex signals pre-owned is no longer a side project, but a core part of its business. Coronet reported last week that Rolex plans to upgrade its beige CPO presentation boxes to full-size boxes, narrowing the psychological gap between new and preowned.

The Rolex CPO map includes the newly opened CPO boutique in China, the first in mainland China, located in Nanjing. Managed by Oriental Watch, the boutique is a welcome addition in a market of more than 1.4 billion people. By comparison, the United Kingdom, with a population of 69 million, has around 50 Rolex CPO points of sale.

Rolex Plans Larger Boxes as Its CPO Business Continues to Grow

(Photo credit: Momentum)

Since Rolex launched its certified pre-owned program in late 2022, it has used beige boxes about half the size of its standard green presentation, a choice consistent with its sustainability messaging while stopping short of the experience associated with buying new.

Last year, Rolex introduced updated, eco-friendly boxes for its new watches, as first reported by Coronet. The brand now plans to apply a similar approach to its CPO presentation boxes, while also increasing their size, the latest sign of its commitment to a program that, by many metrics, has been a success.

Certified and climbing. (Data: WatchCharts)

Rolex’s CPO program has continued to grow in sales and participation despite a volatile economic backdrop marked by war on Europe’s borders, a strong Swiss franc, record gold prices and softening consumer sentiment. Today, CPO pieces are often prominently displayed at Rolex jewelers, occupying prime retail space.

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

Rolex CEO Offers Rare Public Remarks at Dubai Watch Week

Dufour with Abdul Seddiqi on Nov. 19. (Credit: DWW)

Dubai Watch Week kicked off Wednesday with a rare public appearance from Rolex CEO Jean-Frédéric Dufour, who turns 58 in two weeks. The event’s Director General, Hind Seddiqi, recently told the Luxury Society podcast that it was a member of her team who first floated the idea of inviting him to speak. “There's no harm in asking,” Seddiqi told her. “We asked, and he kindly accepted,” she said.

Dufour’s remarks at the event avoided the subject of tariffs, but he offered some insights into the brand (Coronet’s full story). He said Rolex’s long-term success rests on trust-based partnerships not only between the brand and the retailer but also the client. He described Certified Pre-Owned as a safeguard for consumers, and said innovation at Rolex means balancing tradition with advances such as the new escapement in the Land-Dweller.

On AI, Dufour said Rolex remains committed to human relationships and craftsmanship while investing in technology to improve product quality. Regarding the Bucherer acquisition, he offered a rare insight into the company’s long-term plan, saying they have “no intention to grow further than that. It was an opportunity, and we had to do it.” He added, “Now we are understanding the retail business a little better, and that is a good thing.”

Read more excerpts from Dufour’s latest remarks in Coronet’s Long Reads.

The Datejust Leads Rolex CPO Sales

Rolex CPO watches at Bucherer’s in Geneva. (Photo: Rolex)

The Datejust collection is leading Rolex’s Certified Pre-Owned market, well ahead of the Submariner, GMT-Master and Daytona; that’s according to the latest WatchCharts and Morgan Stanley report released Thursday.

The Datejust’s lead — more than double the sales of any other Rolex model in the past three months alone — is the latest sign that CPO buyers might skew more mainstream than collectors. It may also reflect higher trade-in rates rather than demand alone. After all, the Datejust remains Rolex’s most versatile line, with both the deepest supply and the widest resale market, from younger first-time buyers to retirees.

Estimated 3Q25 sales volume and median price for global Rolex CPO inventory by collection. (Data: WatchCharts / Morgan Stanley)

Despite a volatile economic backdrop marked by war on Europe’s borders, a strong franc, higher gold prices, stagnation in China and weakening consumer sentiment, retailers’ participation in Rolex’s CPO program continues to expand, up more than 300% in the past year, according to WatchCharts.

Today, more than one-sixth of Rolex’s global retail network offers CPO pieces, mostly in Europe and the United States, with stores also in the UAE, South Africa, Lebanon, Hong Kong, and Japan. The U.K. leads per capita, with more certified pre-owned watches relative to its population than any other market, more than double Germany’s ratio and triple that of the U.S.

It's Not a Pre-Owned Rolex. It’s a Sustainable Choice

(Photo credit: Rolex)

Rolex launched the Certified Pre-Owned program in Dec. 2022 for the official purpose of bringing “added value to the existing supply of pre-owned Rolex watches,” Rolex said.

The “RCPO” program — as it was rebranded last month — has experienced notable growth, increasing by 300% over the past year and expanding its footprint to 217 storefronts and 7,500 RCPO listings, WatchCharts reported earlier this month.

Meanwhile, the number of people who say they are likely to buy a pre-owned timepiece has doubled between 2020 and 2024, according to Deloitte’s latest survey.

(Data: Deloitte)

Still, purchasing a used watch from a Rolex boutique doesn’t always capture the same air of success, sophistication and exclusivity the brand is known for. But for Rolex, the pre-owned program now serves a greater purpose — it represents a new standard for sustainable luxury and a step forward in embracing the principles of the circular economy.

“This initially commercial initiative is now fully in line with the brand’s approach to sustainability, which aims to give its products already in circulation on the market a second lease of life,” Rolex said on its website. “This approach reflects the Perpetual philosophy: the tireless pursuit of excellence and a long-term commitment to future generations.”

Rolex CPO Growth Defies Market Trends

(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.

As Rolex Pre-Owned Supply Grows, Flippers Pull Back

(Data: WatchCharts/Morgan Stanley)

The inventory of Rolex models sold on the pre-owned market continued to swell in 2024, according to WatchCharts’ first market report of 2025, released Tuesday in partnership with Morgan Stanley. But those listed for sale in brand-new condition declined for the first time since 2021, a sign of more flippers exiting the market.

Still, the Rolex secondary supply has reached a record high when compared to 2021, putting more pressure than ever on prices. “We see no sustainable long-term factors that would drive an eminent market recovery,” WatchCharts wrote in its analysis after tracking a set of 30 modern Rolex models.

One reason for an ever growing supply of Rolex watches is sellers holding out and unwilling to realize losses. Meanwhile, the Rolex CPO program has grown significantly this past year, with 107 retailers now participating, compared to around 25 retailers enrolled in CPO a year ago.

Among prominent pre-owned dealers, Hodinkee exited the secondary market entirely in 2024, just three years after getting into the business through its $46 million acquisition of Crown & Caliber. In Europe, Chronext entered voluntary administration after unsuccessful fundraising efforts and was acquired in Dec. 2024. Chrono24 announced today it would cut 110 jobs, almost a quarter of its workforce.

“A return to a world where most Rolex models are readily available at retail is conceivable in the next few years,” WatchCharts said.

Rolex-Owned Bucherer Joins Vacheron's CPO Program

(Photo credit: Bucherer)

Swiss luxury retailer Bucherer, whose acquisition by Rolex was finalized just months ago, announced this week it will become an authorized Vacheron Constantin Certified Pre-Owned retailer, in a sign Rolex is not keeping Bucherer from expanding its partnership with competitive brands.

It’s not the first time Bucherer is selling certified pre-owned watches from other brands besides Rolex. But the certification and warranty would always be provided by Bucherer. Now, Bucherer will offer a brand-certified pre-owned program, with the inspection, two-year warranty and official certification coming directly from Vacheron.

As Bucherer navigates a Rolex ownership with a Vacheron partnership, Bucherer’s alignment with its new owner is at least apparent on its website: the Vacheron CPO page prominently displays a link promoting Rolex's CPO program in the top half, while the Rolex CPO page does not reciprocate.

Seddiqi to Take Rolex CPO to New Heights

Roger Federer, Jean-Frédéric Dufour, Abdul Seddiqi and representatives in 2018. (Photo credit: Jake’s Rolex World)

Dubai-based Ahmed Seddiqi & Sons, the largest authorized dealer of luxury watches in the Middle East, is taking the Rolex certified pre-owned program to the next level with highly collectible vintage pieces, some more than 50 years old, the latest sign of changing appetites in the Middle Eastern market, where consumers have historically favored new models.

Next week, Seddiqi will open its first Rolex CPO store specializing in vintage models, with around 120 vintage CPO pieces on display at the Dubai’s Wafi Mall and a growing inventory of 400 pieces.

Seddiqi said it has spent in excess of $10 million on stock, including on many 40 and 50-year-old Rolex watches in new-old-stock condition and a further $500,000 on servicing to meet Rolex’s CPO criteria. The retailer said it’s planning on low margins — maximum 20% — to gauge demand in the market.

Coronet last month reported on how the CPO program started two years ago by Rolex has continued to swell despite the 10-consecutive-quarter drop of the pre-owned watch market.

Rolex Certified Pre-Owned Program Bigger Than Ever

(Data: WatchCharts/Morgan Stanley)

The Rolex pre-owned market might be dropping, but the Rolex Certified Pre-Owned program continues to swell despite its premium. That's according to WatchCharts, which has just released the latest data as part of its Morgan Stanley quarterly report.

The 10-consecutive-quarter drop of the pre-owned watch market hasn't deterred more authorized dealers to join the program started by Rolex in Dec. 2022. Since last quarter, at least 17 new retailers have joined the CPO program. Today, WatchCharts estimates there are around 6,400 listings from 78 authorized retailers around the world, with a combined value in excess of $150 million, based on asking price.

(Data: WatchCharts/Morgan Stanley)

Rolex’s acquisition of Bucherer having been finalized in late July, this is the first quarter Rolex-owned boutiques sell new and pre-owned Rolex watches in the same store.

Bucherer’s CPO premium averages at +36% when compared to non-CPO dealers. Watches of Switzerland charges the largest CPO premium, +46% for the UK inventory and +42% for the US, according to WatchCharts, while the 1916 Company remains the most competitive, with an average premium of +15%.

As CPO Supply Swells, Rolex Retailers Keep High Premiums

Source: WatchCharts, Morgan Stanley

The Rolex Certified Pre-Owned program continues to expand at a rapid rate, that's according to the latest WatchCharts, Morgan Stanley report out this week, with inventory jumping 1,200 pieces, or 33%, since January, a sign Rolex owners are cashing out during the longest sales decline in recent memory.

Still, official retailers in the CPO program seem to feel less the pressure, as they continue to charge 20% to 40% more than non-CPO dealers in similar areas. They are also few in numbers: Just four CPO dealers hold more than 75% of the total Rolex CPO inventory, according to the latest data.

The 1916 Company remains the most competitive when it comes to Rolex CPO pricing, with an average premium of +18% across more than 900 listings.