Certified Time

Watch brands start to offer certified pre-owned timepieces alongside their new collections.

- Sophie Furley

Over the last two decades, the preowned watch market has grown from a network of small-time wheelers and dealers and grey market agents to a booming business that has been embraced by everyone from the prestigious auction houses to multibrand retailers, and now even the watch brands themselves.

What is in it for the brands?

In the latest Morgan Stanley Luxeconsult watch industry report 2024, the overall secondary watch market was estimated at US$25 billion, (compared to an estimated US$ 60-80 billion for the primary market), explaining the growing interest from the watch brands in this segment.

However, it isn't only purely economic interest driving this trend. Many brands have been struggling to satisfy consumer demand over the last few years-think Rolex, Audemars Piguet and Richard Mille, for example- and offering certified preowned timepieces (CPO) can relieve some of the consumer frustration.

The last few years have also been rampant with flipping and speculative pricing, which has driven prices on the secondary market to unsustainable levels. This has led many brands to attempt to and take back control of their watches once they are out in the market.

Brands leading the charge