Selling into the CPO program

[GrailTime]

Apologies if this has been covered before, but not been able to find an answer.

Has anyone tried or heard of anyone selling a watch to a boutique that is running the Rolex CPO program? Such as a Bucherer or a Selfridges in London?

Interested to know if they are buying stock and what kind of prices they are offering.

[brandrea]

I’m interested too.

[khalifam]

Hello,

Sold one to goldsmith's before CPO and attempted to sell one to them after CPO.

Process exactly the same, my understanding is Goldsmith's buy the watch as low as they can and then put it through the CPO programme. Clever!

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[GrailTime]

Originally Posted by khalifam

Hello,

Sold one to goldsmith's before CPO and attempted to sell one to them after CPO.

Process exactly the same, my understanding is Goldsmith's buy the watch as low as they can and then put it through the CPO programme. Clever!

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What did you sell? You get a decent price?

[khalifam]

Originally Posted by GrailTime

What did you sell? You get a decent price?

I sold a 5 digit GMT before prices dropped and got a decent price. Have another 5 digit GMT which I'm being offered not so great money


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[Marcjvr]

Just remember to tell the ADs they have to build a relationship with you first before you would sell to their CPO program

[Space1970]

Originally Posted by Marcjvr

Just remember to tell the ADs they have to build a relationship with you first before you would sell to their CPO program

Try and get Goldsmiths to buy some jewellery from you while you're there

[Bazil]

Originally Posted by Marcjvr

Just remember to tell the ADs they have to build a relationship with you first before you would sell to their CPO program

[worldofoyster]

better off sell it online, CPO lowballs you

[AK797]

Originally Posted by khalifam

I sold a 5 digit GMT before prices dropped and got a decent price. Have another 5 digit GMT which I'm being offered not so great money


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How are their offers compared to Watchfinder or a Bond streeter like Watchclub or Watchcentre?

[khalifam]

Originally Posted by AK797

How are their offers compared to Watchfinder or a Bond streeter like Watchclub or Watchcentre?

Very similar to be honest....

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[FreddyNJ]

Originally Posted by Marcjvr

Just remember to tell the ADs they have to build a relationship with you first before you would sell to their CPO program

And tell them they are on a 4 year waitlist like a local Los Angeles Rolex dealer had the balls to te me for a PM watch lol.

[3sheets86]

Originally Posted by AK797

How are their offers compared to Watchfinder or a Bond streeter like Watchclub or Watchcentre?

I've offered a couple of watches to Watchclub and they've always offered much lower than anyone else. I often wonder how they buy stock.

[JRell]

Way safer than selling direct. I sell my to my AD outside the program for what I paid to get the next one up.

[MplsMN]

It is a joke, Govberg offered me $7000 for a mint 2019 41mm datejust with the bright blue Dial, smooth bezel on oyster lol
They have the white Dial version, with the fluted bezel for $11,500 listed. Unreal. I’ll just keep mine.

[brandrea]

Originally Posted by khalifam

Very similar to be honest....

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Originally Posted by JRell

Way safer than selling direct. I sell my to my AD outside the program for what I paid to get the next one up.

Thanks for the thoughtful replies guys

[KatGirl]

Originally Posted by MplsMN

It is a joke, Govberg offered me $7000 for a mint 2019 41mm datejust with the bright blue Dial, smooth bezel on oyster lol
They have the white Dial version, with the fluted bezel for $11,500 listed. Unreal. I’ll just keep mine.

Buy low, sell high! That’s normal business practice. Would you make out any better trading to trusted sellers for something else?

Kat


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[Puffy412]

Keep in mind the sales tax ramifications if you want store credit on a future purchase as opposed to cash.

[anorphirith]

Originally Posted by KatGirl

Buy low, sell high! That’s normal business practice. Would you make out any better trading to trusted sellers for something else?

40% margin is even higher than ADs get from Rolex.

[sys999]

Originally Posted by anorphirith

40% margin is even higher than ADs get from Rolex.

Which should surprise exactly no one. Higher per unit margin vs. volume game of new sales wherein the actual money is made with “other stuff” (e.g., selling you a diamond ring before you are allocated that Sub). Analogous to car sales where the money is made on the used car lot, the service center, or the financing desk.

[agriculture&watches]

Originally Posted by Marcjvr

Just remember to tell the ADs they have to build a relationship with you first before you would sell to their CPO program

You are right. I love this idea

[Wobbly]

Originally Posted by MplsMN

It is a joke, Govberg offered me $7000 for a mint 2019 41mm datejust with the bright blue Dial, smooth bezel on oyster lol
They have the white Dial version, with the fluted bezel for $11,500 listed. Unreal. I’ll just keep mine.

But isn’t there a 2000$ price different on smooth to fluted bezel from AD, your not comparing like for like.

[The GMT Master]

You're also forgetting the costs involved with prepping a watch for CPO. A service plus components plus certification fees add up to a substantial amount. The other factor is stockholding. With WoS Group currently sitting on 600+ RCPO watches in the UK alone, it's perhaps understandable they're making bids accordingly

[brandrea]

A viable option for someone who doesn’t want the hassle of selling an expensive watch privately IMHO.

It can be a real pain in the arse …. Low ball offers, endless questions, many poorly written and hard to decipher …. Ask me how I know

[Marcjvr]

Originally Posted by brandrea

A viable option for someone who doesn’t want the hassle of selling an expensive watch privately IMHO.

It can be a real pain in the arse …. Low ball offers, endless questions, many poorly written and hard to decipher …. Ask me how I know

I once sold an Omega to a private buyer. Oh my God never again. After the amount of hoops and hassle he put me through I was ready to just give him the watch for free and be done with all of it. And that was after I waded through all the scammers and tire kickers to find a buyer. Never again.

The extra spread earned selling privately is not worth the headache time and hassle IMO

[brandrea]

Originally Posted by Marcjvr

I once sold an Omega to a private buyer. Oh my God never again. After the amount of hoops and hassle he put me through I was ready to just give him the watch for free and be done with all of it. And that was after I waded through all the scammers and tire kickers to find a buyer. Never again.

The extra spread earned selling privately is not worth the headache time and hassle IMO

I can relate my man


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[AK797]

Originally Posted by khalifam

Very similar to be honest....

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Thanks, that is interesting.

Originally Posted by 3sheets86

I've offered a couple of watches to Watchclub and they've always offered much lower than anyone else. I often wonder how they buy stock.

Yes they used to be good but recently their communication has been poor, same for Watchcentre so CPO could be an alternative. WF service I find still very good.

[Yobber76]

I haven't sold watches, I have only traded watches with ADs.
All 3 of my Rolexes were traded for more than I paid for them, and I received sales tax savings on every transaction.
And absolutely no hassle.
And I bought brand new Rolex watches at MSRP.

To me, it was a great deal.

[dtwer]

Originally Posted by Marcjvr

I once sold an Omega to a private buyer. Oh my God never again. After the amount of hoops and hassle he put me through I was ready to just give him the watch for free and be done with all of it. And that was after I waded through all the scammers and tire kickers to find a buyer. Never again.

The extra spread earned selling privately is not worth the headache time and hassle IMO

Totally agree. Selling a high dollar item without an established retail channel is harder than people think; it's not for everyone. Adding to it the risk of being scammed, it's hard to argue that it's worth the few extra percentage points in price.

Having sold a few high dollar items myself, I don't bother any more. Now I either trade in or sell outright to dealers that will buy what I need offloading. The time and hassle saved are significant. Granted, I don't like the low-ball pricing from selling to dealers, I minimize it by being thoughtful about what I buy. I learn to only spend money on things I really want and avoid impulse buying.

[JoseR]

Originally Posted by MplsMN

It is a joke, Govberg offered me $7000 for a mint 2019 41mm datejust with the bright blue Dial, smooth bezel on oyster lol
They have the white Dial version, with the fluted bezel for $11,500 listed. Unreal. I’ll just keep mine.

Govberg will low ball you. I sold my 126300 from 2019 smooth and oyster to a private buyer. Got 9,300 cash for it in 2023 full set mint. Most of these AD's will low ball the heck out of you.