Watchbox no longer selling preowned Rolex (now The 1916 Company)

[Jerrocop]

I noticed that as of today they only sell Rolex CPO. Interesting, soon only back alley dealers and Lefty the Salesman (Sesame Street reference) will be the only ones left to sell us second hand watches.


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[Tools]

Are you sure that this is correct?

https://www.thewatchbox.com/

[Jerrocop]

Originally Posted by Tools

Are you sure that this is correct?

https://www.thewatchbox.com/

Yeah, try to search for a used Rolex. It’ll link you to their CPO webpage.


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[brandrea]

Originally Posted by Jerrocop

Yeah, try to search for a used Rolex. It’ll link you to their CPO webpage.


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Smart move IMO.

https://www.thewatchbox.com/rolex-certified-pre-owned/

[arcampado]

Originally Posted by brandrea

Smart move IMO.

https://www.thewatchbox.com/rolex-certified-pre-owned/

Agree. This is huge news for the pre-owned Rolex watch world.

[Tools]

Originally Posted by Jerrocop

Yeah, try to search for a used Rolex. It’ll link you to their CPO webpage.

That's going to be quite a change, but perhaps will help to stabilize the prices of CPO, while letting others set even lower prices for simply used pieces.

[Calatrava r]

What do they do with all their used Rolex which are not old enough to be in the program?

[KatGirl]

Originally Posted by Calatrava r

What do they do with all their used Rolex which are not old enough to be in the program?

Probably sold them to a grey dealer.

Kat


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[Cassian739]

Yup, was part of a just announced merger and rebranding.

New and used Rolex worlds collide as WatchBox buys three family-owned jewellers
https://www.watchpro.com/new-and-use...ned-jewellers/

"The 1916 Company has also announced that its official Rolex stores will be selling watches that have been through the Rolex Certified Pre-Owned programme from day one.

Mr Govberg tells WatchPro that it has around 1,000 Rolex watches that have been through the Rolex CPO process and will be sold with the new international guarantee.

These CPO watches can be sold online at www.the1916company.com and through showrooms."

[acouey252]

But last I saw those cpo prices were 20-30% higher than market prices!!

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[Cassian739]

Originally Posted by acouey252

But last I saw those cpo prices were 20-30% higher than market prices!!

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And now Rolex can justify even higher new retail prices based on CPO prices.

[youneswatches]

Originally Posted by Cassian739

And now Rolex can justify even higher new retail prices based on CPO prices.

You are so on point with this.

[Sauzo]

Originally Posted by Cassian739

And now Rolex can justify even higher new retail prices based on CPO prices.

Imagine new Daytona white dial in steel being 40-50k……yeah no thanks, for that kind of cash or a little more, I can get something much better. If Rolex really did that, it would interesting to see the consumers response.

[Eric-London]

Originally Posted by Cassian739

And now Rolex can justify even higher new retail prices based on CPO prices.

I don't think so. What they are doing with CPO however is to raise the prices of used pieces which invariably helps the grey market. Which they rely on massively no matter what they say.

[Rolexken]

Originally Posted by acouey252

But last I saw those cpo prices were 20-30% higher than market prices!!

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Yes but how many posts say “factor in the price of an RSC service to check authenticity etc” which should be factored into the CPO price.

[swexlin]

I am here in the Philadelphia region. Govberg has always been an AD, and has always sold Rolex pre-owned at their Ardmore, PA location. Only difference is now the pre-owned is called CPO. It's really all in how you want to word it.

Govberg owns Watchbox, and now Radcliffe as well.

And I'm also near King of Prussia, where there is a Bucherer location. Things are going to get interesting! My AD is an large independent with two locations here in the western Philly 'burbs.

[harrist8]

This is really interesting. My local AD in Maryland is Radcliffe Jewelers. They are pretty big in the pre-owned watch market. I just happened to search their site yesterday for pre-owned Rolexes and noticed they had 0 listed, which is extremely odd because they usually have a ton. Just checked their website again and it looks like they were part of the merger with this group. Now their website only shows Rolex CPO. I was scratching my head yesterday and just assumed they were refreshing inventory on their website or something. Very interesting move….

[kidneymd]

With Rolex buying out Tourneau/Bucherer, the smaller outfits have to merge together to compete.


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[hello93]

Perhaps the higher prices reflect CPO retailers buying power on secondary watches, willing to pay well above what grey market dealers offer, in turn creating a cycle where the vast majority start selling to CPO. None of us here will buy from the exorbitant CPO prices but we might just sell.

[996marty]

Originally Posted by hello93

Perhaps the higher prices reflect CPO retailers buying power on secondary watches, willing to pay well above what grey market dealers offer, in turn creating a cycle where the vast majority start selling to CPO. None of us here will buy from the exorbitant CPO prices but we might just sell.

An interesting thought

[RiRi]

I think we need to distinguish between 2 important categories of buyers:

a) the forum users and collectors, who understand how the market works and what the approximate market price is
b) someone who wants a Rolex, with 100% certainty of authenticity, no head aches, and maybe even asap

I do not know how big each of these groups are, but in the Bucherers in Switzerland I am always being told that CPO works and I see a lot of inventory turnover, esp. used Rolex

[Mystro]

The pre owned market will be more organized with Rolex now finally in the game. It also will stabilize and price fix the secondary market and keep availability lower and prices on the high side. The average and main buyer of a Rolex watch will absolutely love and accept the prices and no risk of the new Rolex CPO system.

It was only a matter of time until the secondary market started to mimic the current AD environment. I predict the new good old days of buying a Rolex will be right now in this current low in the market.. If I was in the market for a another Rolex I would be buying now.

[CarlOver]

Great move…I think we will see more mergers of like minded and similarly positioned companies.

[Pboned]

When a merger like this happens, do those stores lose their Rolex AD status and have to apply over for it? What happens to their current customers who already have a spend history or relationship?

[1William]

Interesting and a market creator. The CPO Program typically exceeds the prices from our Trusted Sellers. This means if you cannot buy new from the AD and want a watch then your choices are the CPO or Secondary dealers. This will benefit the Secondary dealers as they will be positioned price wise under the CPO watches.

[acouey252]

Originally Posted by 1William

Interesting and a market creator. The CPO Program typically exceeds the prices from our Trusted Sellers. This means if you cannot buy new from the AD and want a watch then your choices are the CPO or Secondary dealers. This will benefit the Secondary dealers as they will be positioned price wise under the CPO watches.

I agree

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[d7s]

My question is, if I sell my Pepsi to CPO for example , do I get offered more money than what the average grey dealer would?

If yes, then I believe that’s what rolex master plan has always been, yes you have to wait 3 years but why would anyone give a watch to a grey dealer when Rolex can give you more money? They definitely have the capital to buy every watch they want at any given moment , and this would ultimately result in them controlling a huge slice of the secondary market

[mquarter]

Originally Posted by d7s

My question is, if I sell my Pepsi to CPO for example , do I get offered more money than what the average grey dealer would?

I have a feeling not.

It's a bold move by Watchbox to go all in on the Rolex CPO program. I thought the CPO program was still unproven at this stage?

[enjoythemusic]

Originally Posted by d7s

My question is, if I sell my Pepsi to CPO for example , do I get offered more money than what the average grey dealer would?

Had a very recent experience with WatchBox. On another timepiece discussion board, it seems my trying experience was echoed. It appears WatchBox is known to offer very low price on yours (usually saying they have a bunch of them or ____), and yet want you to pay a high price on theirs.

Thankfully, we have DavidSW, Albert/Joshua at European Watch Company, and many other trusted sellers here on TRF.

[dnd2984]

Originally Posted by enjoythemusic

Had a very recent experience with WatchBox. On another timepiece discussion board, it seems my trying experience was echoed. It appears WatchBox is known to offer very low price on yours (usually saying they have a bunch of them or ____), and yet want you to pay a high price on theirs.

Thankfully, we have DavidSW, Albert/Joshua at European Watch Company, and many other trusted sellers here on TRF.

This! I got same line from watchbox. "We have too many of those"