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

[worldfamoussam]

I've bought from Govberg, Watchbox and Radcliffe. They were all great experiences, every time. I don't love that Rolex is now "in control" of Watchbox/Radcliffe pre-owned market ... it feels like some really nice family-owned companies going to "the man" but what can I do? Radcliffe has a great jewelry selection too and I hope they'll retain the exceptional staff I love.

[enjoythemusic]

a bit of an update.... Wbox did a nice follow-up call. They really are nice, I very very much do love Tim's videos. That's how my wife saw / got her WorldTime.

But yeah, some deals work, some don't. It's been a cr@p week for me with my mom passing, etc. Guess I was seeking something 'aspirational' to bring a bit of joy. Thx for the call Wbox, perhaps in the future we'll work tougher once again. My wife truly loves the WorldTime we got from you recently, she smiles a lot when wearing it.

Happy wife, happy life.

[Tools]

Rolex is not in control of Watchbox, nor involved in any way with their business model.

Watchbox has chosen to implement this plan, and the 1916 Project will be Govberg's arm for CPO only Rolex and other used watches.

Just like every other used Dealer, they have to submit their used watches to meet Rolex requirements for CPO, but Rolex is not selling any watches or buying any.

[Epanerai12]

While I get the initial fears of 'price fixing', these are just watches at the end of the day, not productive commodities to help along a modern society, such as crude oil or rare earth metals. A free market will dictate the fair market price.

They can set whatever price they want initially, and maybe some people will pay out of fear of higher prices in the future, but the sellers of CPO still have to eat and answer to boards, shareholders, etc. If consumers balk at the premium pricing then the prices will eventually go down.

I believe they will ensure there are fat margins there to protect against that so i wouldnt expect to get a premium if selling to them over a trusted reseller.

Of course unless Rolex mothership begins buying 2nd hand inventory to hoard or destroy it. Can't rule that out with their mountain of cash and always thinking 10 steps ahead in their business planning.

[HankScorpio]

Originally Posted by enjoythemusic

a bit of an update.... Wbox did a nice follow-up call. They really are nice, I very very much do love Tim's videos. That's how my wife saw / got her WorldTime.

But yeah, some deals work, some don't. It's been a cr@p week for me with my mom passing, etc. Guess I was seeking something 'aspirational' to bring a bit of joy. Thx for the call Wbox, perhaps in the future we'll work tougher once again. My wife truly loves the WorldTime we got from you recently, she smiles a lot when wearing it.

Happy wife, happy life.

Sorry for your loss, Steven

[Bladeshot]

Originally Posted by enjoythemusic

a bit of an update.... Wbox did a nice follow-up call. They really are nice, I very very much do love Tim's videos. That's how my wife saw / got her WorldTime.

But yeah, some deals work, some don't. It's been a cr@p week for me with my mom passing, etc. Guess I was seeking something 'aspirational' to bring a bit of joy. Thx for the call Wbox, perhaps in the future we'll work tougher once again. My wife truly loves the WorldTime we got from you recently, she smiles a lot when wearing it.

Happy wife, happy life.

Sorry to hear that, Steven.


Sent from my iPhone using Tapatalk

[enjoythemusic]

thx guys. We all knew it was near, were by her side when she chose the time... and she ensured we had quite the food spread after her service. Mom truly had a life VERY, VERY well lived. thx again... and now, please, back to the topic.

[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"

[Besttime]

It's a great move but CPO prices are higher than the market prices the last I also checked.

[inadeje]

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?

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

You’ll get the lowest possible price and the they’ll give it a $500 service, add a 2 cent plastic warranty card and sell it for 5k more

The prices of these certified pre owned are obscene. I cannot see how such a program can succeed.

[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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[VogelPhoenix]

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?

No chance in hell they would enable any kind of arbitrage (e.g., compared to Moda "wholesale" prices).

[TheVision]

They are all hurint. My cuz sold them a LV sub last year during peak market and they overnight'ed him $22k bankwire.

Now same watch is under $16k and not even selling. Huge risk these grey sellers did and now paying the price.

It's the same as how Carmax accepted $100k for used Tesla Model X and Y and now they are under profit as Tesla has cut out prices by 40% and ya can get these brand new for under grey market prices.

I'm loving it.

[Car32]

Originally Posted by Epanerai12

I believe they will ensure there are fat margins there to protect against that so i wouldnt expect to get a premium if selling to them over a trusted reseller.

It will be interesting how this plays out. On the one hand, if sellers can get better prices from the grey dealers, why would they ever sell to CPO at a lower price and then how would CPO get inventory?

On the other hand, are there enough sellers out there that are comfortable selling to grey dealer (e.g. shipping a watch and hoping to get a bank wire the next day)? I suspect not, unfortunately, so CPO can probably get away with purchasing at lower price as the majority of sellers who aren't enthusiasts would rather sell to a Rolex program where the risk of not getting paid is virtually nothing.

[Spartyfan6262]

Originally Posted by Moskus99

My AD just rolled this out as well. The pricing is utterly ridiculous.

I agree. I would never pay CPO prices. It just strikes me as bizarre to see used Rolex watches being priced higher than brand new ones at retail, all in the same store. That said, I'm sure there are plenty of people who will say "you know what, I'm happy to pay a 25% premium so I don't have to worry about whether the Rolex I'm buying is authentic."