Select Language:
On January 12, a renowned Swiss luxury watchmaker announced the launch of its certified pre-owned watch business on the Chinese mainland, with the opening of its first store in Nanjing. The new boutique is located in Deji Plaza, one of the city’s largest shopping centers that hosts flagship stores of multiple luxury brands. It is operated by Oriental Watch, allowing customers to schedule appointments through the retailer’s WeChat mini-program.
The company’s Certified Pre-Owned program aims to enhance the value of pre-owned Rolex watches in the market. Each inspected and refurbished watch is branded with an official RCPO stamp, signifying authenticity and quality assurance.
This move by Rolex is expected to bring greater regulation to the secondary watch market. It involves assessing the value retention of used watches and establishing prices based on their condition, according to industry experts. One judge at the prestigious Grand Prix d’Horlogerie de Genève explained that this development essentially shifts bargaining power back to the primary, official market, fostering greater trust and transparency.
Pre-owned Rolex watches bearing the new RCPO certification typically sell for at least 25% more than comparable models from non-certified dealers, according to an online luxury watch retailer. The actual premium usually ranges between 15% and 40%, depending on local demand and dealer pricing strategies, which consider regional factors.
Previously, many brands were hesitant to involve themselves in the second-hand watch market, fearing it might hurt sales of new models. However, experts now believe strong demand for pre-owned watches can actually boost new watch sales, as consumers feel more confident in the value retained by pre-owned pieces and are thus more willing to buy new.
Dealers familiar with the Rolex RCPO program generally view it positively. It serves as an official endorsement for second-hand watches, making transactions smoother and encouraging consumers to participate in the market. Rolex has been one of the first major brands to actively participate in large-scale secondary market initiatives. Industry insiders note that the secondary market for Rolex has historically been very active, and this official certification helps standardize the process, fostering healthier growth in both primary and secondary markets.
In 2024, Rolex’s sales surpassed CHF 10.5 billion (about USD 13.1 billion), capturing a market share of up to 32%. An industry report last year estimated that sales through the RCPO program likely exceeded USD 500 million.
Rollex first launched the RCPO program in Switzerland at the end of 2022, subsequently expanding into key global markets. Recently, the company partnered with Oriental Watch to introduce the program in Hong Kong in October 2024. Additionally, there are plans to open a second certified pre-owned boutique at HKRI Taikoo Hui along West Nanjing Road in Shanghai.
Sources indicate that the brand is preparing to open this new location soon.
ChatGPT
Perplexity
Gemini AI
Grok AI
