Rolex CPO Three Years Later—What I Got Right, What I Underestimated, and What Comes Next
The Rolex Certified Pre-Owned (CPO) program, launched in December 2022, has significantly impacted the pre-owned watch market, generating approximately USD 590 million in sales by 2025, which accounts for around 11% of all pre-owned Rolex transactions. Predictions about the grey market have largely held true, as independent dealers and private sales still dominate the secondary market. However, mid-tier grey dealers with physical storefronts are struggling to compete against the larger CPO operators, who possess the authentication credentials and scale necessary for success. The CPO program has evolved from a marginal endeavor to a substantial presence in the market, with 227 points of sale and around 8,500 watches available at any time. The emergence of The 1916 Company, which unites pre-owned specialists, signals a shift in the industry dynamics. As Rolex continues to strengthen its resale infrastructure, the question arises as to whether other luxury brands will follow suit, potentially reshaping the entire landscape of the secondary market. While the grey market may not disappear, it could be relegated to a supporting role as more manufacturers adopt controlled resale strategies, significantly altering the current dynamics.
