The programme Rolex Certified Pre-Owned arrives in Italy. From spring 2023, Italian dealers who request it will have access to the Geneva-based manufacturer's Certified Pre-Owned programme.
That watchmakers also sell second-hand watches is nothing new, but joining the CPO programme is a game-changer, as not only do the watches have to be attractive from a market point of view, but they also have to meet very strict criteria set by the company, which certifies the originality and consistency of all components.
How it works. Vintage Rolex watches (first sold at least three years earlier) are purchased from the shop. They then become the property of the dealer, who sends them to Rolex for servicing and certification.
The risk that they may not be covered by the Rolex Certified Pre-Owned programme is all on the seller's shoulders, so the team that selects and appraises the watches to be purchased must be both expert and careful about whether the watch corresponds to the parameters set by Rolex itself. Once certified, the selling price of the watch is always decided by the retailer.
In competing with the traditional vintage market, the House has put in place a number of procedures to protect the buyer as much as possible. For example, what happens if we return a CPO watch to the shop because we have changed our mind? The retailer can take back the sold watch, but it must be sent back to Rolex to renew the certification. Also because - mind you - an authorised Rolex retailer who joins the CPO programme can no longer sell vintage Rolexes without certification from the company.
What is the purpose of this? It seems quite clear that Rolex, through its dealers, wants to cleanse the market of non-original or inconsistent examples and offer the public the only safe channel to buy totally original vintage Rolexes. What's more, with a two-year international warranty.
