Rolex Certified Pre-Owned vs. Secondary Market
Curious to get fellow crunchers opinion on Rolex Certified Pre-Owned vs. Secondary Market for watches that left the Rolex catalog before you could have got the call.
Yes, I'm talking about the Rolex Milgauss, Oyster Perpetual 39, Cellini, and other models that now will live in this strange in-between world with ADs.
The Rolex Milgauss hit hard for me as I was "on the list" having "registered my interest" at the start of the pandemic with several ADs I had given business to in Chicago. This is the same watch I was offered to buy, possibly at a discount given the lackluster demand, when I bought my wife's engagement ring and our wedding rings ~10 years ago from a jeweler who is now part of The 1916 Company.*
It's cool to see Rolex watches available(?) to purchase online without games (just an incredible disparity in mark ups. See Milgauss 116400GV examples below)
Govbergwatches.com: $11,450-$12,950
Watchesofswitzerland.com: $15,750
Has anyone seen or bought from a Rolex CPO watch?
Given market prices for models (HT watchcharts.com: $8,750-$10,500, Avg $9,655), is there any reason to buy a Rolex CPO watch?
I understand watches, like the Milgauss, when worn and loved turn into scratch monsters so there the Rolex Service to bring it back close to new. And I suppose there is a price to peace of mind with doing business through your AD and a 2-year movement warranty. But things don't seem quite add up.
What would you do if you wanted to commemorate a professional accomplishment or life milestone?
Buy from your AD with Rolex CPO?
Go to the secondary market or a private sale?
Forget Rolex and move on to a different brand?
*In a fun twist of life, that jeweler is now my AD again but they unfortunately split apart Rolex from the rest of the store and "inventory still is very limited for professional model watches"
If I buy a watch used I add on top a service 2 times out of 3 because something is almost always a bit off, even with good sellers. So part of "savings" are gone right off the bat. That said, I recently treated myself to an almost immaculate 16570 and it was WAY cheaper to buy the watch overseas, import it to Europe (i.e. pay VAT) and have it serviced at Rolex ... we're talking several thousand Euros. So I basically get all the CPO perks for well cheaper. The AD actually asked me how much I paid (because they had one for sale) and he was quite shocked how over-priced theirs was. Wasn't CPO but they have "applied" for it.
If the watch charts price is almost 10,000$ then 11,500$ from Govberg isn't THAT bad, especially if you're also in the market for something new... but I suspect the cheaper ones have bad cases. I think CPO has potential, if they can price-match my strategy of buy-&-service (+ a few hundred convenient markup) then I think it's okay.
Edit: top left lug (red) looks a bit thin...
Go to the secondary market, but a trusted dealer; buy the seller.
You can pay less for a “new” watch from a dealer than what you would pay from CPO.
Go to the secondary market, but a trusted dealer; buy the seller.
You can pay less for a “new” watch from a dealer than what you would pay from CPO.
Any dealers you recommend or sources you use to qualify dealers before taking the plunge?
As far as I am aware the CPO doesn't include a service ??
To me the CPO system is a compete bust , all of the CPO watches are asking over already inflated market secondary prices.
in reality you are not getting any extra piece of mind over a known secondary dealer.
personally I would hold on for a little while , there was Milgaus hype as it was discounted but as you mentioned before Rolex all the hysteria it was a slow seller.
Watches of switzerland has reported a downturn in profit due to decreasing demand in luxury products and this is expected to continue. its only a matter of time before secondary prices head south.
Any dealers you recommend or sources you use to qualify dealers before taking the plunge?
I’d suggest trusted sellers on TRF. I’ve purchased from DavidSW and others there over the years and they have their own websites etc that show what’s available.
I buy everything from private local seller. It's more risky but you can find hidden gems for very good prices. Key is to inform yourself before buying, check the watch properly and most important to get to know the person you are buying off. I e.g. bough my rolex 16570 at 50% of the cpo price. The seller told my that the CPO offered him the same price I paid and he rather give it to a watch enthusiast. But it's crazy with which mark-ups CPO sells their watches.
If it is a superceeded model, those are the choices. However I believe the preowned program includes a guarantee and that is of value. I think I would go that way.
But I’m a patient person so for current models, it is wait (for one to become available) then hurry on in once you get the call.
I am solidly in the AD or secondary market camp. The premium for Rolex CPO is not of value to me.
As far as I am aware the CPO doesn't include a service ??
To me the CPO system is a compete bust , all of the CPO watches are asking over already inflated market secondary prices.
in reality you are not getting any extra piece of mind over a known secondary dealer.
personally I would hold on for a little while , there was Milgaus hype as it was discounted but as you mentioned before Rolex all the hysteria it was a slow seller.
Watches of switzerland has reported a downturn in profit due to decreasing demand in luxury products and this is expected to continue. its only a matter of time before secondary prices head south.
I thought all CPO watches were serviced and fully restored if parts needed replacing. Hence the higher prices.
I thought all CPO watches were serviced and fully restored if parts needed replacing. Hence the higher prices.
I’ve been under the same impression based on the “proper functioning” gaurantee. Maybe they’ve only been inspected unless something warrants servicing?
https://www.rolex.com/en-us/buying-a-rolex/rolex-certified-pre-owned
Stopped in Hyde Park this evening to check out their watch event and was able to talk to a sales associate about Rolex CPO. The SA confirmed that all Rolex CPO have been serviced by Rolex and come with Rolex CPO box and papers in addition to the 2-year warranty.
For those keeping track, an unknown year 116400GV-001 was available for $11,450. Polished and like new but not quite as shiny as I recall seeing in the past. Could have been the lighting or a service crystal but it didn't have the same spark. Then again, what does in a case next to F.P. Journe?