Few names in the watch market carry as much weight as Rolex, which is why these exquisite timepieces cost so much. Of course, used jewelry can offer a discount over their new counterparts — if you’re willing to live with the possibility that it’s a piece of junk.
But there’s a new option, bargain hunters! Rolex is now getting into the certified pre-owned market by offering gently used watches through its official retailers.
Even as the cost of almost everything else is heading skyward amid global inflation, the price of Rolex watches has been moderating and even declining slightly in recent years. In fact, one of its most eye-catching designs, the Rolex Daytona, has seen its price drop from nearly $49,000 to just over $30,000 since March.
With the introduction of used watches being sold with the company’s blessing, it’s sure to be more affordable to buy a luxury timepiece than it has been in a long time.
Here’s what you should know before you buy a second-hand Rolex:
- The official program only includes watches that are three years old or older.
- The Bucherer retailer is handling such sales, but only in six countries across Europe.
- The certified watches will include a guarantee and the coveted Rolex insignia.
There is one major difference in the warranty, however. Instead of the five-year coverage that new Rolexes receive, pre-owned pieces will receive only a two-year warranty.
Although a spike in production and flatlining demand has led to price drops for new watches, Rolex nevertheless believes it’s the right time (no pun intended) to start offering customers an even more affordable option.
According to a company press release, the aim of the program “is to bring added value to the existing supply of pre-owned Rolex watches.”