For a retail store, becoming an Authorized Rolex Dealer is a big boon for business. Rolex is incredibly discriminating when identifying stores that can bear the title, and once granted, they continually ensure that their Authorized Rolex stores adhere to the brand’s uncompromising standards. This highly selective process is just one example of their unwavering commitment to excellence, and its well-cemented reputation as a leader in luxury timepieces is evident in the brand’s staying power. In meeting Rolex’ rigorous criteria, an Authorized Retailer not only has an immediate, built in client base, but also the glow from the distinctive Rolex crown casts its light on everything a store showcases.
Sako Diamond Corp.
While owning a Rolex is almost a universal marker of status, the timepieces are far more than just hype. For over 100 years, watch experts and enthusiasts alike have been extoling the virtues of the craftsmanship, precision and sophistication of Rolex timepieces. Just as the brand’s founder, Hans Wilsdorf, envisaged when he first opened his business specializing in distributing timepieces in 1905, Rolex watches are both reliable, and elegant. For over a century, demand for the timepieces has remained strong, and in the past few years, those wanting to take the plunge and invest in a Rolex are often met with frustratingly long wait lists.
Sako Diamond Corp.
We often mention wait lists for Rolex watches and other items like Hermès Birkins when promoting the Original Miami Beach Antique Show (OMBAS) to our consumer audience. At OMBAS, one has the opportunity to skip the line and source the exact item they want from one of our trusted dealers, even if it means paying a premium. Yet with the official roll out of the Rolex Certified Pre-Owned (CPO) Program in March of 2023, Authorized Rolex Dealers may also feel incentivized to join us at the Miami Beach Convention Center for our 2025 event, January 9-13.
Sako Diamond Corp.
The pre-owned watch market is undoubtedly on the rise. In their 2022 Swiss Watch Industry Study, Deloitte predicted that by 2030, the luxury pre-owned watch market would grow to CHF 35 billion by 2030 (41.16 billion USD). In their 2023 report, they said that while pricing in the market had normalized, there was still a lot of confidence in its growth. While there are a lot of people much more adept than I at digging into the specific nuances of the Rolex CPO program, like our friends at Hodinkee, who have written about it at length, the collective assumption is that Authorized Rolex Dealers can only see the CPO program as a benefit.
Wind Vintage
In order to qualify, a pre-owned Rolex needs to be at least three years old or older, and however it is obtained, the timepieces must be over-hauled in-house at the Authorized Dealer, before being sent to Rolex for inspection and certification. At that point, the timepiece can go into the store’s CPO cases to be sold to a lucky client. Speaking to one Authorized Dealer off the record, I learned that Rolex is not dictating pricing on their CPO watches, which means a retailer has the opportunity to follow the fluctuations of the market and price accordingly.
Sako Diamond Corp
While many CPO watches come from trade ins from customers, in order to meet demand, Authorized Rolex Dealers often have to look outside their existing client base to source pre-owned timepieces that meet the standards of CPO. The roster of well-respected dealers at OMBAS allows retailers to expand their store of resources in serving their clients and establishing relationships with dealers whose sole focus is sourcing hard-to-find products. From signed jewelry from maisons like Van Clef & Arpels, Cartier and Tiffany to unsigned period pieces to, you guessed it, Rolex watches, savvy retailers can find one-of-a-kind and highly coveted items that set their store apart and keep their customers coming through their doors.
Sako Diamond Corp
