Rolex’s Certified Pre-Owned (CPO) programme, launched in late 2022, initially saw rapid expansion, growing from just 25 authorised dealers in early 2023 to 107 by the start of 2024. However, recent data suggests the initiative has stalled—even shrinking slightly in early 2025, with three retailers exiting the scheme.
High Costs and Slow Turnaround Deter Dealers
Authorised dealers have voiced growing dissatisfaction with the CPO programme, citing excessive costs and delays. Watches often require servicing and authentication, adding nearly $1,000 in unnecessary expenses for already mint-condition timepieces. Worse, the certification process can take months, during which secondary market prices may drop, leaving retailers with overpriced inventory.
While major players like Bucherer, Watches of Switzerland Group, The 1916 Company, and Ahmed Seddiqi & Sons continue investing heavily—dedicating entire showroom sections to CPO watches—smaller independents struggle to justify the costs. Many now limit their CPO offerings to a single display case or minimal online listings.
Stagnant Growth and Limited Inventory
Morgan Stanley’s latest report confirms the slowdown: no new CPO partners have been added in 2025, and the global inventory of certified watches remains unchanged at 7,500—a stark contrast to platforms like Chrono24, which lists around 100,000 Rolex watches from thousands of dealers worldwide.
Despite this, CPO sales rose 15% quarter-on-quarter in early 2025, driven by a shift toward rarer, higher-value models where authorised dealers can still command a premium. Yet, those premiums remain steep—averaging 30.2% above grey market prices, with some retailers charging as much as 39%.
Calls for a Streamlined Approach
Dealers argue that the CPO process should be faster and more cost-effective. Many suggest allowing authorised retailers to self-certify watches, leveraging their in-house expertise to authenticate and refurbish timepieces without Rolex’s lengthy pathway.
Before CPO, dealers routinely handled trade-ins with minimal fuss—a practice now banned under the programme’s strict rules. The current system, designed to combat grey market profiteering, has instead made it harder for authorised retailers to compete.
A Pause for Reflection—Or a Need for Change?
Rolex may view the current slowdown as a natural consolidation phase. But for many dealers, the message is clear: the CPO programme must become more efficient and affordable if it’s to succeed in the long term. Without adjustments, even loyal partners may continue to walk away.
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