Rolex CONTROLLING Grey Market? Shocking CPO watch premiums revealed for 2024

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I had a different video planned for this week but the morning of the day of filming I got an email, the most fascinating email, some of you may describe it as hilarious, others outrageous and certainly to me as a secondary market dealer...quite shocking.
This email was a marketing email, from Goldsmiths; a major watches of Switzerland group jeweller and Rolex Authorised dealer!
Ive bought a couple of Rolex’s at retail before so I guess I'm subscribed to their mailist but this was a price list of some of their “great deal” Rolex certified pre-owned range …..and the accountant in me couldn’t help but dissect those figures and just for fun compare with current grey market sale prices and trade prices. It’s been well over year since Rolex turned to the dark side to flip used watched at premiums over their own retail… and well i'll let you be the judge on where it stands today.
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Опубликовано:

7 май 2024

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Комментарии : 106

@streetmoney21 Месяц назад

The watch market is dead 💀 Juan from Opus Time talked about this on his channel. The CPO program is a museum for used Rolex watches. None of those watches are selling. Most of the transactions are between flippers and grey market dealers.

@patrik3450 Месяц назад

Bingo. In Denmark it’s a shit show atm, yet so many try to sell their Rolex for dumb prices

@gimusk5667 Месяц назад

The watch market is dead, drop drop drop a little more

@omar10213245 Месяц назад

Floating face-down in a backyard pool

@Frankie-wc3tt Месяц назад

We are talking about used.... slider condition material watches in this channel 🤣😅😂

@AL95621 Месяц назад

The greys likey hate that guy to shreds 😂love Jaun and “keno “

@patrik3450 Месяц назад

In Denmark there are several Rolex scandals ongoing now. The market is so inflated now, everyone want to sell Rolex. Rolexes from the 80s for fucking 6-13.000£ 😂 some of them look absolute terrible condition. I’m sticking to Tudor and Omega. I can get them for 5-20% off retail price . Which is a realistic price. Rolex have some great watches and they look beautiful. But man it’s such a shady market in everywhere and any country. Not worth it.

@james12359 Месяц назад

Everyone keeps saying the watch market is dead but the prices aren't 😂

@Mike_Watches_Things Месяц назад

No chance that the pre owned system will sustain. At some point they have to realise that the grey market will see far more sales than any pre owned program. People spending money always do research and they’re going to be left holding the bag at some point when they aren’t shifting units. I don’t think there’s a chance in hell of Rolex controlling the grey market pricing. Margins alone will see it fall apart. It’s almost like they’re trying to put people off using the AD’s on both new and used. What a shambles.

@gaffs82 Месяц назад

Agree the prices are high on CPO, but do all people really do research? There are a lot of uneducated buyers out there that either don’t know or don’t care. My AD told me the CPO is slow, but people are buying. Personally, I think grey dealers are a rip off too. Much better deals to be found on places like Moda or the reditt watch exchange. Yes, they may technically be grey dealers but not like those on RU-vid or with brick and mortar stores.

@o0MadHouse0o Месяц назад

I ended up going grey yesterday for a sub date. Couldn’t be bothered with the AD games anymore. The price of subs has dropped to a point where I don’t mind paying the small premium to get one. In absolutely no way would I ever think of buying from CPO.

@rossi1878 Месяц назад

Can I ask which grey market dealer you bought from bud? In the market for one myself. Seemingly no chance of obtaining one from AD.

@o0MadHouse0o Месяц назад

@@rossi1878I got mine from Trilogy Jewellers in Hatton Garden. Fair prices and a great service. Being able to just walk in to a store and walk out with the watch you want is a nice feeling in today’s market. Forget about the ADs mate. They are too busy feeding their VIPs and making us regular customers wait years to spend thousands of pound at their store. It’s a joke.

@Outdoorshuntingshooting Месяц назад

Yeah I have come to same conclusion, 10% premium I can handle.

@vinnyfrancis Месяц назад

Can source one for one fairly easily, they’re not a huge premium now but if you want new from AD go for the non date im well informed waiting time in those is only in weeks not months

@RocketDog73 Месяц назад

If the no date waiting list was only weeks then why are there so few on the grey market dealers like that Honest Watch Dealer?

@williamcoolidge9884 Месяц назад

I was in a 1916 Company Rolex AD recently. They wanted $34,000 (USD) for a 126710 Pepsi. You can get one from Bob's Watches for around $22,000 right now. CPO pricing is nuts when the only premium they offer is what you could get yourself for $800 by buying a Rolex elsewhere and sending it to Rolex for a full service. The only downside is you have to wait 4-8 weeks for it to come back from service.

@gimusk5667 Месяц назад

The Muppet boiler room secondary watch market is dead

@RT-tr9cq Месяц назад

KEEENOOOO

@vinnyfrancis Месяц назад

unbelievable?

@gimusk5667 Месяц назад

@@vinnyfrancis but true!

@dmaul5190 Месяц назад

I had a look at a 116713LN the weekend, it was at goldsmiths in the CPO program, the bezel was over polished and had a lot of play in it, and they wanted 15k 🤣🤣

@vinnyfrancis Месяц назад

Damn not great, i have to say from what i’ve seen i thought their finishing wasn’t bad so that’s interesting to hear!

@dannysimenauer5745 Месяц назад

Vinny, I live in the US, and have no idea why the AD’s think the CPO program can command substantial premiums over new Rolex models. I did want to ask if AD’s will negotiate CPO pricing, or do they stand firm on their CPO prices?

@vinnyfrancis Месяц назад

absolutely not, they would not want to engage in haggling as it is seen as ‘dirty’, in the UK haggling is a dying art anyway now sadly

@davidmartin2957 Месяц назад

Just found you on my feed. Subscribed immediately. Keeping it real.

@vinnyfrancis Месяц назад

Thanks for subbing and welcome, please do look back at some of our previous videos as you may find something similarly interesting, cheers

@richt4472 Месяц назад

I have my r serial 16610 which I have owned for seventeen years; purchased pre-owned of course, The Rolex thing doesn't bother me as I despise the maxi case; ruined the lines of the sub'

@jonathansmith283 Месяц назад

good video VINNY - thanks. ~. JDS/CT

@vinnyfrancis Месяц назад

No problem 👍 thanks

@winduncan9818 Месяц назад

I went to one and asked about a black 40mm Explorer II. They wanted 11.5k usd, can be found all day long for 7k, 40%!!

@user-ou8pv3qq2l Месяц назад

nkuwan You are so well-informed about luxury watches. You've obviously done your due diligence and the comparison to the US is very informative...because of course, I live in New York. thank you very much

@user-rd8tj7xg9c Месяц назад

Good informative video as ever Vinny👍 so, if the CPO prices are higher - what kind of prices are they offering for our watches - are the offers coming in higher than a grey market dealer?🧐

@vinnyfrancis Месяц назад

thanks a lot! honestly i think they’d be paying even less, but maybe that’s for another video, thanks for the idea!!

@EyeInTheSkypaulmcmenamin Месяц назад

How much do Boucher, torneau etc offer the owner for their watches compared to what the gray market would buy them from you for?

@alangordon8171 Месяц назад

Fantastic video Vinny. I can only assume that the Rolex CPO programme is aimed at consumers who arent savvy about the way the grey market works and are prepared to over-pay for the apparent safety blanket of buying directly from Rolex. I would buy from and sell to a trusted grey dealer every day of the week vs deal with Rolex CPO - but I am clued up on the market!

@vinnyfrancis Месяц назад

Thanks and there’s are many people who really like CPO though i won’t lie so i think it’s here to stay

@BrendanBoswell Месяц назад

Vinny’s Videos Are Always Great. 👍

@vinnyfrancis Месяц назад

Thanks very kind, keep up the good work too!

@michaelfierman3256 Месяц назад

Great content as always Vinny👊🏻👊🏻 I think your best point is the fact that they can pull your pants down if you absolutely want to walk out of the shop that day with one on your wrist. They tried to make this about “peace of mind” when it’s just an added level of control and taking advantage

@vinnyfrancis Месяц назад

Thanks man! and sure i think there’s a long way to go before we can say prices are fair, I will do this video again in a couple of months to see if there’s any change

@Tommys_hacks Месяц назад

Cpo sends them out to be “authenticated and serviced” also pretty sure they offer a warranty as well.

@JRADisDPK Месяц назад

Complete overhaul aswell , and they only accept 4/5 condition most watches get turned down due to heavy wear or visible damage

@WestCoastAce27 Месяц назад

I believe it’s only 2 yrs. Not like buying a new model.

@BAF605 Месяц назад

Great info as usual. I can't see CPO succeeding long term unless it settles at around 10% above grey market which itself remains too high IMO. That would be reasonable, especially with older watches which are most likely to be frankened. Funny that WOS are asking such high prices for used Rolex when they are discounting other brands like crazy as are many other UK retailers. I recently bought a Zenith 384 chrono freely advertised in a WOS sale at 45% discount. The "crash" is over but I see all prices (Rolex included) trending down for the foreseeable future

@vinnyfrancis Месяц назад

I do believe they will get more and more competitive and it will add a new influence to the market so that will be interesting to see

@tondo6912 Месяц назад

Great review of this rather crazy strategy. At least 1916 are market focused

@vinnyfrancis Месяц назад

Thanks and yes because they have past experience on grey market as ‘watchbox’

@mahmoudghoneim8004 Месяц назад

CPO program must fail as long as you don't have brand new products to trade in.

@WestCoastAce27 Месяц назад

This is what Rolex should do, make it almost like leasing a car: ‘we will sell you the steel sports watch you want as long as you agree to trade it in in great condition in 3 yrs; you’ll get priority for whatever model you want at that time.’

@rampantcolt Месяц назад

People say the market is dead but I’m in Mayors every other week and people are always buying ROLEX. It’s alive and well, it’s just a new time and we are sorting out the prices post pandemic.

@divyv20 Месяц назад

Hey Vinny , very good video . I can do better editing in your videos which can help you to get more engagement in your videos . Pls lmk what do you think ?

@faizalhakim3772 Месяц назад

So I’m guessing the CPO will be offering a considerable more than the grey market when selling?

@vinnyfrancis Месяц назад

well this is unknown to me but would sure make for an interesting analysis, i’ll do some research, I think they will be paying a lot less than greys do

@andrewsouth1696 Месяц назад

Dealers will pay more and sell on for more watches with CPO paperwork, that will bridge some of the delta

@BAF605 Месяц назад

Whether they will pay more I don't know but greys will certainly add a substantial premium to any CPO watch they get their hands on.

@JakeStrada Месяц назад

I reckon alot of the grey market dealers will use the CPO to up their prices and push the market, you know because their honest and customers come 1st lol

@David-yd6ur Месяц назад

Good and interesting, thanks. One small point, please pronounce the word, 'homage', correctly.

@jeremydjeu711 Месяц назад

Buying from a Rolex AD is the only way, new or CPO. The grey market is awash in fakes.

@WestCoastAce27 Месяц назад

Great job - and please do these videos every month or 2. I think we all knew this program would be a joke… and we haven’t been proven wrong. And 💯 - Rolex for all the talk about ‘watches are to be enjoyed, not treated as assets’ (recent CEO interview) they LOVE the free publicity and agree they are playing games with the Daytonas and GMT allotments to keep resale prices high. If they were serious about getting a better cut of the grey market money they could just raise the new prices which would shake out much of the grey dealers; Rolex would make more money and the watch enthusiasts would be happier.

@thunnuso6792 Месяц назад

One must be stupid to purchase any high-end watches especially Rolexes…

@robertbachmann8141 Месяц назад

also CPO watches come naked,. no box or papers. try to sell those..

@vinnyfrancis Месяц назад

True! which did surprise me to find actually, though CPO naked pieces are more rare and limited to vintage from what i have seen

@CanChristopher Месяц назад

Would love to know what Rolex pay for you to trade to them ?

@vinnyfrancis Месяц назад

so would I l! definitely a topic for another video, i’ll do some research

@ghariyaan Месяц назад

Hi Vinny, sent you an email, leaving a comment here to make sure you received it.

@masterwatch Месяц назад

the Rolex CPO initiative was always designed to deal with the problems associated with the grey market and price escalation and the higher prices was also understood. It is going to be interesting as Rolex moves further into the higher end space. Rolex are super watches but I do think the prices are too high and in my opinion we will continue to see a price correction.

@vinnyfrancis Месяц назад

agree with you concerning CPO's intentions, i think Rolex also looked at the money grey dealers were making and thinking what the hell is going on here, these guys are making more than us? we want a piece of that cake!

@masterwatch Месяц назад

@@vinnyfrancis they will definitely want that 🍰

@turbyoulance Месяц назад

Rolex CPO = The ancient mauseleum of past Relics that no one wants to keep......lolol

@leonk8113 Месяц назад

Rolex CPO prices are utter madness. I will take my chances with the grey market or any market for that matter before I go the CPO route.

@vinnyfrancis Месяц назад

That’s cool, i agree it is still too expensive but i am intrigued to see if it becomes more competitive

@teddyhenriquez5192 Месяц назад

Let me If I understand your video. AD has become grey market and grey market has become AD

@danny77670000 Месяц назад

CPO will implode like the Titan

@vinnyfrancis Месяц назад

Haha what a simile 😂 quite fast then 😂

@itsphilparker Месяц назад

Buying a CPO watch can enhance your chances of purchasing other watches at retail price. Previously, individuals often purchased watches they did not desire simply to be added to a retailer's preferred customer list. Now, they can select the watches they genuinely want, pay a premium for them, and improve their likelihood of obtaining their preferred models at retail prices from their AD.

@danny77670000 Месяц назад

No win situation

@mustafapardesi1242 Месяц назад

Mr viney get ready to get black listed @ goldsmith 😂😂😂😂😂

@vinnyfrancis Месяц назад

i’m quivering in fear

@Adil-sm3yz Месяц назад

I have seen mid 2000s-2010s Daytona's for sale through CPO boutiques with a 10k premium over the grey market 😂

@AG-en5y Месяц назад

❤❤❤❤

@timothyhoppen Месяц назад

Buy any real Rolex and convert it to “cpo” with a service.

@vincet6730 Месяц назад

If I wanted to purchase a watch from the 70‘s, I would trust CPO way over Grey

@vinnyfrancis Месяц назад

This is good point which i feel is a view many others do share, as i said for that sub, it probably is worth the 1k more for that peace of mind

@mahmoudghoneim8004 Месяц назад

What about those who want an original non overhauled used vintage watch, those are the majority of customers who buy vintage.

@vinnyfrancis Месяц назад

@@mahmoudghoneim8004 great point! id rather have the original unpolished piece with scratches any day! Thats a drawback of the program for real enthusiasts