(Yicai) Jan. 12 -- Rolex, the luxury Swiss watchmaker best known for its Submariner timepieces, has opened its first resale store in the Chinese mainland, a move that is expected to help standardize the local secondary market for Rolex watches and lift demand for both new and pre-owned models.

Run by Oriental Watch, the boutique selling certified pre-owned Rolex watches opened last week in Deji Plaza, one of the largest shopping malls in Nanjing and home to the flagship stores of many luxury brands. Prospective buyers can book appointments to visit the store via the Hong Kong-based watch retailer’s WeChat mini-program.

According to Jiemian News, Rolex is also preparing to open a second such boutique in HKRI Taikoo Hui on West Nanjing Road in Shanghai.

The Rolex Certified Pre-Owned Program offers the “opportunity to purchase previously worn timepieces that are certified as authentic, fully serviced and guaranteed by the brand,” according to the Geneva-based company’s website. Each watch comes with an RCPO stamp after being inspected and refurbished.

“This is a significant development, as it effectively brings the bargaining power of the secondary market back to the official realm,” Lin Bei, a judge at the Grand Prix d'Horlogerie de Genève, told Yicai. Rolex’s entry into the pre-owned market will help standardize the secondary watch market by quantifying factors such as value retention and condition-related pricing, he said.

Rolex watches with the official RCPO certification typically sell for at least 25 percent more than identical models sold by non-certified dealers, according to an article by WatchGuys, a US luxury watch e-retailer. Actual premiums, however, vary by dealer and local demand and generally range from 15 percent to 40 percent.

“Many brands have been resistant to pre-owned watches, believing it would harm new watch sales," Lin pointed out. “But in fact, strong demand for pre-owned watches can stimulate sales of new watches because people are more willing to buy new ones as long as pre-owned watches keep their value.”

Most resale dealers Lin has encountered welcome Rolex's RCPO program, as it provides a form of official endorsement that helps transactions and spurs consumer interest in pre-owned watches.

Rolex was among the first big brands to develop a large-scale second-hand business, Lin noted, adding that given the historically robust secondary market for Rolex products, the official program can help standardize that market and support healthy development in both new and overall watch markets.

Rolex introduced the RCPO program in Switzerland at the end of 2022, later expanding it to its major global markets. The company allied with Oriental Watch to launch the program in Hong Kong in October 2024.

Rolex's sales exceeded CHF10.5 billion (USD13.1 billion) in 2024, with its market share reaching up to 32 percent, a joint report published last year by Morgan Stanley and Luxe Consult said. Sales under its RCPO program likely topped USD500 million in 2025, according to WatchCharts, a global second-hand watch trading platform.

Editors: Tang Shihua, Martin Kadiev