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In recent years, the trading of used luxury watches has skyrocketed. Online platforms like Chrono24, Chronext, or Herando are booming. Rolex is now responding to this growing secondary market by starting from today, December 1, 2022, issuing authenticity certificates and warranty guarantees for secondhand Rolex watches.
For a long time, the Geneva watchmaker was skeptical about the secondhand watch trade. While industry experts from brands like Omega, Audemars Piguet, and Richard Mille recognized its potential early on, Rolex held back until now. Until now, buyers of Rolex had to rely on the reputation of the seller and their guarantees. From today, the Geneva watchmaker also certifies used Rolex watches. However, this only applies if the watch was purchased from an official dealer and is older than 3 years. Moving forward, when buying a used Rolex, customers will receive both an authenticity certificate and a two-year warranty card.
This move sends a strong signal to competitors. For such a large watchmaker, these certifications require considerable effort. The watch manufacturer aims to strengthen dealers and motivate them to increasingly participate in the secondhand market, as one in seven pre-owned luxury watches sold is a Rolex.
In return, Rolex regains more control over the distribution of its watches. Many experts are curious to see how other major watch brands will respond and which manufacturers will follow suit.
With this step, Rolex enables private individuals not only to buy watches through official channels but also to sell them. Herando offers the perfect online platform for this purpose.