Has the CPO program increased buying prices?

[fishingbear]

Originally Posted by Torshalla

I think CPO arrived too late… they missed the train


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Originally Posted by Mystro

Market is stabilizing so too soon to tell.

Originally Posted by 0nly5iv3Digits

CPO is a joke. They aren’t selling. Prices will fall eventually.

Originally Posted by csaltphoto

The CPO program is for a specific group of buyers and sellers. Which most of us are not. There are a lot of people who really don't care about a few thousand dollars and if they are tired of watch, would rather just do a swap at an AD

Originally Posted by 996marty

CPO = unrealistic prices

[Ferrari-F430]

All of the CPO's I've seen at AD's are tagged with ridiculously overpriced watches well over grey market. Last week I saw two Daytona's (both 116500's a few years old) tagged for $40,000. They had a one year old Batgirl in nice shape for $24,000. And a Pepsi that was two years old for $29,000. I can't see anyone with a bit of intelligence paying those prices right now.

I will also add, the two AD's that directed me to the CPO counter were the worst as far as customer service / treating me well as a customer looking to buy a new Rolex. One of those was what I would classify as brutally bad/terrible.

I think the CPO program could work, but they have to be more competitive in pricing and not just throwing watches out way over actual grey market price. I just don't know anyone personally that is willing to buy on the grey market- it's Dealer price or bust for me and my friends.

[Roddypeepa]

CPO a massive let down. I thought that it would be good when announced.

Could sell a watch back to them for around or just over what you paid. They’d sell it on at a sensible market rate.

Would consolidate the brand as you knew with Rolex actually controlling used prices money would be safe.

What we actually got was a load of greedy bastards scalping at both ends of the deal like a sleazy used car salesman.

Been a let down for me. The prices uniformly are utterly insane. You’d need more money than sense to go for a non niche, modern model recent production model than a reputable used dealer - of which there are very many.


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[csaltphoto]

Originally Posted by Roddypeepa

CPO a massive let down. I thought that it would be good when announced.

Could sell a watch back to them for around or just over what you paid. They’d sell it on at a sensible market rate.

Would consolidate the brand as you knew with Rolex actually controlling used prices money would be safe.

What we actually got was a load of greedy bastards scalping at both ends of the deal like a sleazy used car salesman.

Been a let down for me. The prices uniformly are utterly insane. You’d need more money than sense to go for a non niche, modern model recent production model than a reputable used dealer - of which there are very many.


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Unless... And this is somewhat of a conspiracy theory... The AD's do not want to control the used market. They need the aftermarket/"grey" market as part of their business model. Someone who will always take a bundle of some slow movers along with some popular models since like any other retail biz, cash-flow is king. If they did as you suggested the whole used/grey market would fall apart overnight. Not completely of course; just like in cars there is always the private market but that is kind of a hassle and with watches it's even more of a hassle.

[Roddypeepa]

I assumed naively that they did it to stabilise prices and make it safer for the consumer. In fact, price ranges have never been wider or at least more confusing for the under-read watch buyer. But to each their own. The market will decide as it always does I guess.


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[JSolution]

Originally Posted by sportsfan0704

Btw I should have been clearer, buying prices as in what the AD’s offering CPO are paying for the pieces. Not the effect on buying prices for secondary dealers.

Well you left that late

[Sunny Arizona]

The dealer in Vail offered a 16610 for 13.5K and a 114270 for 8.5k. Waaay too high.

[martyjanderson]

Originally Posted by csaltphoto

The CPO program is for a specific group of buyers and sellers. Which most of us are not. There are a lot of people who really don't care about a few thousand dollars and if they are tired of watch, would rather just do a swap at an AD

looking at govberg cite, a rolex cpo they aren't selling at all. Ive looked at the SD 43 and deepsea and mostly the same ones on there for 6 + months.

16k for a 6 year old sd 43 is silly when trusted sellers will sell same thing a year or so old in perfect shape for less than 14k....

[martyjanderson]

Originally Posted by Fleetlord

Yep. People still have money and still want Rolex. Some will dig in and research others will just get ROLEX no matter what.

might seem like it but they dont seem to sell with govberg at least. not hard to find plenty of places that will sell better condition and better service etc.

[shafran]

I think there are people out there scared of the used market, stolen watches, fake watches. Those people would rather spend more on cpo. Had this discussion with Govberg and Rolex. I also think those prices will come down. The difference is when they call it cpo they bring the specs back to new. There is cost involved in that. Most greys just flip without servicing a watch.

[brandrea]

Originally Posted by L_S_SHOE

Agree, but I think CPO will still succeed. The potential buyers they’re targeting are less careful with their money, less knowledgable about the product and prices, and are attracted the safety of buying a “certified” used watch from an authorized dealer.


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This is absolutely their target market, and there are a lot of them.

[garyk]

Originally Posted by shafran

I think there are people out there scared of the used market, stolen watches, fake watches. Those people would rather spend more on cpo. Had this discussion with Govberg and Rolex. I also think those prices will come down. The difference is when they call it cpo they bring the specs back to new. There is cost involved in that. Most greys just flip without servicing a watch.

I agree with this completely. Pricing will have to adjust for the program to really catch on.

[russ86]

CPO prices are high, but for some models, it makes sense. I got two CPO vintage GMT Pepsi models at a fairly good price.