Watchlords

Rolex Now Has a Resale Program. The Watch World Quakes.

There is a saying in the high-end watch trade that there are only two kinds of watchmakers: Rolex and everyone else.

The privately owned, Geneva-based brand dominates the industry by virtually every measure, although many of these comparisons are based on estimates, as a result of Rolex’s well-known reluctance to share information. In 2021, the company’s sales were estimated to total 8 billion Swiss francs ($8.56 billion), accounting for 28.8 percent of the global watch market’s retail value — up from 26.8 percent in 2020 and 24.6 percent in 2019 — according to a Morgan Stanley report released in March, the most recent information available.

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Well this certainly will not reduce second hand prices. I could see Rolex offering some sort of warranty on these thus driving prices even higher on the used stuff.