As per recent news, Swiss luxury watch brand Rolex will be certifying second-hand Rolex watches and selling them through their 1816 authorised retailers. Currently, six authorised retailers have been listed to do so with more to be added through the next year. This has caused quite a stir in the watch world, heralding a new chapter in the world of pre-owned luxury watches.

Prior to this announcement, it was an insurmountable task for buyers to purchase desirable Rolex models from boutiques, and therefore, out of desperation, they would often approach grey market dealers. This made them vulnerable to exorbitant mark-ups, not to mention the risk of being sold a fake or an unpleasant buying experience.

In my opinion, Rolex has made a bold and decisive move to effectively edge out grey market dealers. This decision will offer customers the option to interact with genuine authorised retailers, thereby leading to a better buying experience. It will, to a certain degree, reduce sales in the grey market. How efficient this new system is going to be is anyone’s guess. That said, it will be interesting to see how the buying and selling of pre-owned luxury watches and their prices respond to this new announcement.