Just buy a Pre-Owned Daytona for $35k get it serviced by Rolex, now you have a Pre-Owned Daytona serviced by Rolex for $37k instead of 65k

I spoke with a Rolex store owner that I know here in Vegas. He says they will start this program in April 2023. They will be able to buy the watch for whatever price they want, they will send it to Rolex for service and when they get it back they can sell it for whatever price they want. It will bring a lot of people into the stores, and for Rolex they will make a killing charging $500 to service every one of those watches. It’s a nice little scheme they have going on, forcing the dealer to send them every watch for service before they can sell it.

Meanwhile, I’m over here enjoying my no-drama Omega. Love the drone footage, tho!

WOW that pricing is crazy... Thanks for making this follow up video. I was hoping it would come!

I wanted a Submariner before I turned 50 and here I am a year later with my watch and still watching these videos. I got to get a new hobby. I love Eric and CRM but I’m watched out for a bit.

I love this channel. Awesome work ERIC. My opinion is as Rolex is about to fall off a cliff and lose the hype of the demand, this is their way of propping up the prices and actually thanking the Grey Dealer for the amazing ride since 2016 !

Japan has mint pieces and with the yen low (not as low as in mid October) the ADs can buy from the Japanese market. As a tourist in Japan, you can buy tax-free, not sure if that also goes for export of watches from Japan to other countries.

Yep spot on - "certified merchandise" from the biggest gangsters of them all.. Rolex AD's are *the* Marfia ... these guys are beyond real.,. I certainly don't want the AD "experience" !

Really enjoy your straight up attitude. It's very refreshing.

A 'follow-up' video? You usually don't do those…lol! You nailed it (as usual) this whole thing is to address AD's wanting to get in on the secondary market. They will leverage the 'Certified Pre-Owned' status for all it's worth. As in all things the market will ultimately decide at which price point people will buy.

I think you nailed every single argument you put forth in this video. I was in the Rolex Corporate Tent at the US Open at Pebble beach and met both types of AD’s. Mine is very nice and very blunt! I’ve bought 8 pieces from my AD and 34 Swiss other watches from the gentleman who owns the not only the Rolex AD but 16 other brand AD’s. My Rolex AD made me wait 17 months for my Daytona (black dial) and actually admitted to they get pieces in every day and that it’s their call as to who gets what and when. The AD told me I’ll eventually get a gold Daytona in 2023 and a panda dial before year end. Here’s the kicker… this AD told me face to face they prefer to sell to a first time buyer of a Rolex as opposed to me who is a collector with 61 watches. While I was stunned (and still pissed) I appreciated this persons candor but… BUT will damn sure never buy a pre-Owned anything from that store. I’ll simply call Watch Eric. 👊

Excellent video as always Eric. Just one comment on the new rolex facility, I highly doubt that it will be used to pump up production for exactly the same reason you mentioned. Rolex love the hype and exclusivity. The new facility will most likely be admin, marketing and after market service…

Rolex have thousands of AD that have experience in pre owned Rolex for decades, far more sophisticated than the grey dealers. Eventually: "You have to buy 5 pre owned Rolex before you can buy a brand new Rolex" - and if this is successful, it gonna spill over to AP, Patek, and so on. And ultimately, the secondary Rolex and luxury watch resellers are all dead.

I think a big problem with this is that Rolex ad staff lack knowledge to sell used Rolex watches👎👎

Nice video mate 🥃

My AD had a pre owned case for the past year. I love the fact that they have a pre owned selection vs only the exhibition models...

Hublot comment was spot on. Perceived value is everything

Most realistic opinion about this subject!

Like a watch guy said, what authorized dealers will now do is say, if you bring your old Daytona back for us to make the money reselling it for profit we will let you buy a new model. So the resellers will no longer be able to get new watches at authorized dealers

You are right I feel. I will keep on watching you, thanks

they are going to sell new watches and call them "pre-owned" and jack up the price. Good luck ever getting a new piece....every piece now is "pre-owned". They are using the random serial number now exactly for this reason

1) In the EU it’s illegal for Rolex to dictate prices in anyway whatsoever. 2) Exchange rates will be a significant factor in these purchases eg. If the dollar rate to GBP is at parity, prices are 40% less than the US. Remember too, these tourists will be walking along Regent Street - not a backstreet in a small town. 3) High prices assist with the proposition of Rolex scarcity …and thus Brand value. A marketing “self fulfilling prophecy”. 4) Small ADs May not be able to actively participate - another reason to slim down the AD network. 5) There will be buying a used model, then re-trading it when your NEW model arrives. Means you get the watch immediately, and don’t overpay too much on the new model (the price lift / cost is just what you lost when selling back).

I'm too stupid to get it.. i mean.. ok, i am walking into an AD to get me a Daytona or something. Whatever. The guy says "yeah thats like 15k retail - But you can't get it." Then he walks me over to the cpo watches and says: "BUT! Hey, you can get the exact same watch. Only three years old and a bit used." And i think "whoa, really? Cool, whats it cost?" And he goes like "62k". ...am i missing something? Is that how it works? I love it! This world is getting better and better.

Interesting and varied comments. My AD also has a pre owned display (in a different room from their Rolex suite). Prices are competitive and realistic. As mentioned in comments, simply have your watch serviced and sell it on with its accompanying 2 year warranty, which is the same as authenticating your watch. The only difference is that you don’t get a beige swing tag and card. Your AD gets the profit from the service which maintains your relationship with them too. Don’t think my AD is going to sign up to the program until they’ve monitored feedback from those who have.

Btw I had to come back and underscore how right you are about how the salespeople act like they are better than you. THAT will piss me off in a cuz I can see it in a millisecond!

And there's me out here :D... I personally believe this will be a great twist for me personally. Since working for and AD and having a KZfaq channel have been a challenge to keep the line and with the restrictions, also trying to stay away of viral topics to not upset Rolex. I also have a what club where we used to send all the pieces available but, since the market changed, I had to adapt and find other creative ways to continue getting customers since we also have other brands at the store. In this case i believe the restrictions about social medial in pre owned pieces might be softer. So im hoping i can try to sell to anybody who can see mi videos and contact me just like you Watch Erik and the rest of the gang. I think will be a really interesting year for the market. Let's see what happens and cheers to the community from South Texas..

Spot on comments Eric

Sorry Eric - I would definitely pay a premium for a vintage 50's - 70's Rolex, serviced/restored by Rolex and certified. It's like the Ferrari Classiche program.

It is also an alternative way to build purchase history with the dealers to get access to retail pieces. Like it or not, but for some it will feel better to pump 60k in a Daytona instead of jewelry, regardless whether other sources offer a better price.

Hey Eric, you pretty much nailed it.

Hi Eric, Just to touch on one point of your discussion ,I believe the inventory that Rolex will use is the exposition pieces that all AD`s have in the boutique`s . After a minor service these will be used to start the program , and then a buy back program will proceed for selected pieces from certain clients . But over all I think not very much will change. Some people just will feel better with the company guarantee when making their purchase. Great Job

Thank you Eric. I just don't see them, Rolex Boutiques, selling a used Panda above retail. ADs maybe but not a Rolex Boutique. Ahh, I gotcha card. I'll get back to ya.

Personally I been looking to buy a Rolex watch for the las 2 months. I live in Miami and I really like your information in your videos and hopefully I will visit your store in the beginning of 2023

I agreed with your opinions, Eric!

Hey Eric I totally agree with your point of view. Please help me understand how both WOS and Tourneau (Bucherere or something or other) have been selling pre-owned for years. Were they not supposed to sell secondhand and did it anyway. How did they get away with that?

Grey market is in big trouble. Why mess up your relationship with an AD to sell to the grey market? Just trade in and get a new piece. Easy

Hello bro, I apreciate all the work you put here. Im in a waiting list for a damn no date sub for 2 years now, and i really sick of all this mambo jambo rolex game. There are a lot of great brands and watches out there who deserve more attention... I really advice you to dig down a little about this 3235 new rolex 70h power reserv movment. A lot of ppl complain about faulty design and loosing time after 6 months or 1 year after brand new. This is a real prob. for me, u cant ask 10k minimum for a watch that start loosing time hard after u pretend to be one of the greatest watch brand out there.

I remember when you went Grey Market to save money and sales tax. All you had to do was decide which one to go with. But yea, meeting demands would cure it, but this ain’t gonna cut it. Not even close.

Remember one thing, it is not Rolex who control the prices... it is the demand.!! look at the prices right now.. they go straight down, no one knows how the worlds looks tomorrow - not even Rolex ;) great video Eric.!

People have covered most things so I'll throw in a few curve balls. A point to mention is that ADs are spending tens of thousands on premises/Staff training to Rolex specification only to receive a limited amount of watches. Hardly pays for itself. A sweetener for ADs. Watchmaking is an art, and will take years to train people. Current watchmakers will be tasked to train, service and repair the new crop of staff for the 'used' market. Supply down, pricing up...................again.

😂😂 Yoooo my guys through out shade like it was in sale. He hit everything on the money tho!

Picking my 116500 up tomorrow didn’t have to go on a list I may get the meteorite GMT as well could be my lucky day 😊

like always , good analyses Eric

Another Great Video 👍

My AD just hired two additional Rolex techs. They plan on doing the CPO in house. The AD's have to get these watches from the public (trade-ins or out right buy out), and be competitive with what the grey market will pay for them, -add on the cost of authentication, a service (if indicated) and packaging. This will for sure bring the price up over grey market. The grey market can then up but keep the price below AD prices and come out way ahead, leaving the prices for the public to escalate.

Rolex Certified Greed Programme

By the time this program hits the states all of the exhibition only pieces will be 3 years old and will all be for sale as a pre owned watch. Oisin has a really good inside scoop on some of the details of this.

Blankey guys, wazzup! Great video again Eric!

Rolex are not building their new facility to ramp up production. This is for product improvement and higher quality control. Churning out and producing more watches will never happen.

Here’s my scenario…The ADs will set the price for the purchase of the preowned pieces they buy, and the individual ADs will set the prices of the Rolex CPO watches they sell. Each AD will be different in this respect. Rolex the brand and Rolex the company wins. And, like you said, so will the ADs who are presently totally shut out of that huge market. It will be mostly The new Rolex buyers who will buy the CPO watches from their Rolex AD. And so their relationship begins. Cheers man😎

good info

I think the only way Rolex could ever control the secondary market prices is for all the Rolex AD’s buy up all the stock from grey market dealers. That’s a huge cost which personally I can’t see happening. 🤷

So is the thought that prices will keep going down into 2023 or have we seen the bottom and prices will start going up?

Eric, one thing I have heard about the Rolex CPO program is that the watches would only be 3 years and older. So watches recently purchased by flippers and others would not qualify as I understand it. Also ADs would have control of pricing in their market.

I think the only thing that’s truly “new” about Rolex AD’s selling pre owned pieces is that they now have an “official program” for it. My local AD in St. Louis has had a used case for years. Since 2015 at least. They are of course the older models (non ceramic submariners, older datejusts, previous generation Explorer 2). Things may have changed in the past few years, but I also saw another AD in Colorado last year in 2021 who also had a pre owned case

Just a thought but what if Rolex have been holding back stock to the ADs for the last few years thus boosting demand over supply & now are going to flood their ADs with new old stock for them to sale at a premium?

Love the channel Eric! You’re pretty spot on imo. The only thing that I could see being different (and this depends on what’s Rolex’s true intentions are) is if they undercut the gray market. They’d leave a lot of gray dealers holding the bag on lots of models and really make them trepidatious moving forward. Ie: grey panda is 32 and they make theirs 29. Totally kills incentive to buy gray. Gray would then have to undercut Rolex to move that piece to 25-26 otherwise ppl will pay for the safety and boutique experience and to get in Rolex’s good graces. They will also use someone selling their watch to them as collateral to attain new pieces. While I agree there will still be a spot for grey dealers, it could get interesting if Rolex undercuts grey and stays above retail. Curious to hear your thoughts?

I sometimes I just wish that the watch market collapses. I don’t care how much money I would lose on what I have, as I have no intention of selling any of them. I’m just fed up with all this nonsense.

Greetings from freezing Germany. I agree that there will be a lot of service work, and that will have an impact in the supply for new watches. But now Rolex has the perfect excuse for the shortage. Clever...

Hi Eric ... I am in the process with Buchere in Zurich for my first CPO sale ... will sell a Zenith Daytona inverted 6 ... can share more insights on demand

The big question, why not just sell the new ones with the same gray market price? they know if they did the market will collaps and no one will even buy any watch excpt the ones who pay premium

Beyond making the used market watches look like much better deals I don't see this doing much more than replacing the not-for-sale Rolex watches with watches that are for sale but no one will want to buy. IMO I don't see it lasting, it doesn't make sense.

I think with most things most Rolex owners don’t really know of the second hand market. They buy it because it’s a status and they keep them forever. This is going to allow dealers to reach out to them and say hey remember that watch I sold you “that is now super overpriced” I’ll buy that back from you for what it was sold for and then you can put it towards this one I just got in. So making money on first sale then making money on the buy back and then making money on the next watch.

Here in the UK were we have strong consumer rights . Price fixing is taken very seriously . I love Rolex and they should be available to most People in life .

Rolex are not silly.. They are a massive company where things are planned years in advance & this is just the first phase.. By entering & eventually controlling the market & bringing used prices down to below retail.. it will kill the grey dealers & flippers overnight - Game over👍🏻

IMHO its about TBD dealer trade-in trade-up program dynamics.....we'll see.

Why would someone in there right mind pay 62000 euros for a Rolex Daytona when you could get something like a pre-owned Vacheron , or Blancpain tourbillon for that kind of dough !!! People are following into a hype trap if you ask me. Insane

This is exactly emulating the car industry. You can buy your CPO Benz at a Benz dealer or you can buy a non-cert used Benz from Honcho's Plus-Rated Used Car Emporium. Used car dealers aren't going anywhere. Nor are used watched boutiques. For watches I think there's a lot less that can go wrong. Car oems can't tell dealers what to sell used cars for either. However if a dealer is staining an oems reputation there are plenty of games to play if the oem wants to steer things. It's likely the AD's live in a hierarchy like consumers. Selling a watch, new or cpo, likely counts towards a measured target. Target of volume, profit or both. Higher performing ADs probably get favourable allocation and that's what they're playing for as ADs.

I think it’s insane that Rolex getting into the grey market charging above grey market prices. I expected them to charge a premium but not over retail price. There’s no incentive to buy from a retailer used inventory when you can buy new. I know there’s a wait and you might not get it but this only going to straighten grey market dealers.

Obvious strategy from Rolex.....new prices are gonna be steadily HIKED. They've been undervaluing their watches. The value of anything is the price someone is willing to pay. The price of a new rolex is gonna be much higher than now in a few short years

Does it make sense to have full control of the retail prices and not in the second hand market?? It doesn’t make sense from a brand perspective….

No idea what I’m missing here.. My AD has a pre-owned section with generally 5 or more Rolex on hand at all times.. They are displayed in the general part of the store with the other pre-owned watches.. I’m guessing they will eventually get certified by Rolex and displayed with the Exhibition pieces you can’t buy.. I don’t know 🤷🏻‍♂️

Could it be a preventative measure to stop AD’s selling newly allocated stock as pre owned?

My AD says they'll be 20% off list. 15% for steel sports models.

Rolex are kings of hype. Let the people know that we can sell more than 3 year old watch for 3 times the price of new. Crazy they can get away with that kind of plan. Consumers are treated like fools... I did get my 2022 model from AD and Iam glad I dont get to go trough this buying process again or in the near future.

Rolex is not worth that amount of money. It just like buy a Toyota using Mercedes money or buy Mercedes using Ferrari money. Feel sorry about supreme, Hublot, Rolex, G wagon, so so, they just over hype and not worth it at all

What I’m really wondering is what are they going to pay you for your pre owned Rolex , so if we pay the AD 30k for a new watch are they going to give you your money back plus some ? Or are they going to offer you 25k send it to Rolex factory to get cleaned up then try and sell it for 35 45k ?

Eric you da man.👍🏼

Certified pre-owned from Mercedes, BMW, etc. didn't put indy dealers out of biz. No difference. Certified just means you're paying more for them.

Sounds like used Rolex prices are headed higher! Just like De beers controls the diamond market.

Come on guys we all know about the backend WhatsApp channel with the AD getting kick backs for watches. It’s been going on for years.

It will be interesting to see how the AD treat people wanting to trade in or outright sell. If they offer market minus some profit and CPO costs, then it will be ok. If they try and screw their existing customers then its a no go.No matter what happens, this will put pressure on the greys as now all ADs are greys and they can only offer CPO to eliminate any fear of counterfeit, condition, etc.

The thing about to increasing production and supplying demand… is that you need qualified watchmakers and those don’t grow in trees 😂

Go Eric!!

I am a swiss citizen... and i read it in the local newspaper, that the politics from that small village "bulle" authorised the landbuy to rolex. So it's official but they target to open the factory ariund 2029. So bevor there will be any impact on the market from the new factory it will take almost another 10 years... so calm down ;)

eric yu aare the best how many links you have in front in the rolex

I refuse to pay these ridiculous prices for a stainless steel watch (Sub with date).

you try on the exhibition only daytona and then next week it is for slae as used 4 * the price

So basically, there will be no incentive for AD's to sell at retail, they are better of using the watch then get it serviced for the certified preowned label and list it at ridiculous prices as shown on this video.

I’ve bought both ways AD at short hills thanks to my brother the wrist watcher, and pre owned and honestly it doesn’t matter to me witch way i go long as im getting what i want and im happy with the condition, i just bought a DJ2 from watch moda on facebook at right under retail and no card and sent it to Rolex for a full service and bam two months later got my watch back just as good as new Rolex certified with a service card so either way as long as its not hurting the ppl like watch Eric im all for it

In all reality...as a consumer the weight should ALWAYS be in our side of the court, but once again we all MUST have it right!!! We shoot ourselves in the foot. Pathetic!

Can you get on the waiting list… buy the watch from Rolex… then flip it to the AD and make money??? the whole thing sounds ridiculous to me, especially if they’re selling new watches at retail right next to old watches three times retail???

They can keep that card lol I’m going to watch Eric 😂

thats what the added production is for

I saw all scratched up Datejust 41mm two tone preowned certified at AD sale for $13,999. This brand new watch price tag is just 12,999. Why the beat up one costs more than the new one? This is Rediculous. I think I better get all the brand new Rolex watch models that I want as quickly as possible from AD if available at retail prices.

Who would finance a luxury goods retailer at this point of time and or at what rate.

Unless Rolex opens another factory production line just to deal with CPO you’re right it will take too long to turn around the pieces. Then where do you get the qualified workers to do it. Or will it be done in regional centers.

Any chance that Rolex starts tacking on extra fees for service for non CPO watches?

In conclusion: Rolex is increasing their value way higher in pre-owned market. Period. In other words Rolex is telling you their watches worth more than retail, more than gray dealers. In long term pre-owned watch market will catch up to Rolex CPO price range. Win-win for Rolex :)

Black Market dealer offended when Rolex asks the prices they ask.