AP will be selling Pre owned watches?

[Daryl]

https://www.highsnobiety.com/p/audem...resale-market/

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[7sins]

This is a logical move to add another revenue stream to their business, surprised it has taken this long.

[jschmidtdmd]

It is logical to control the secondary market. Surprised it's taken this long. I think this should become standard across many brands.

[red1108nyc]

A few of the other major brands have all contemplated doing this in one form or another. NY Times did an in depth article on this. AP is looking to do this within next 2-3 years. This strategy will work for a niche and coveted brand like AP but not for Panerai, a mass producer with weak secondary pricing. "Float" factor in an up market should get sales number up on NIB pieces.

[Chewbacca]

brilliant move.

could also offer a full service, guaranteed buyback value, guarantee authenticity, 5yr warranty and you can charge a lot more and build a client pipeline.

[///armin]

I think this is a great move, there are a ton of owners who are not online and don't know a way to sell their watch/trade it since they only have a relationship with an AD, this is a great way for them to do that. From the ones purchasing a used one from AP, it completely eliminates any worry about condition and authenticity. I guess it's all dependent on the watch also, there is already a good discount buying new on a lot of watches when buying from the gray market or online so you may not necessarily be getting that great of a deal buying used when for a little more you could essentially buy new. Time will tell, overall this is good news

[AK797]

Good way for AP to control the increasingly wild resale market, other brands "in play" will surely examine doing the same.

Talk of it on this thread.

https://www.rolexforums.com/showthread.php?t=580943

[P2725TMB]

I think its a great move and potentially very exciting indeed.

[SDDS]

Hello guys, i am in geneva right now and I have passed Audemars boutique at the kempinski hotel, they have something called the certified pre-owned program, where basically they sell AP watches that are displayed at major AP events only, where clients get to try watches, so it's not a pre-owned watch that they buy from clients, hope this helps, I found alot of good watches too

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[1st amg]

Fabulous idea....imagine on a holiday and they have an AP boutique, take your AP on trade and buy a new one or a CPO one....very dangerous for us too!!

[KrismanX]

Great stuff! I wonder how much TRF sales contributes to that "mostly" figure. I'd love to get some AP verified secondaries!

[Jay (Eire)]

So FPJ has been doing this for the last year or so. I agree it's a great idea, but what premium are you willing to pay to purchase what is now a used watch from the Boutique?

FWIW the FPJ prices, albeit for watches that had gone through a full service, touch up if necessary and all have full box and papers (sometimes not original to the watch, but obviously original FPJ), were definitely on the high side. Like really high.

With a smaller market to contend with versus AP in terms of supply I haven't noticed it help secondary market prices in any way.

[Marciano490]

What’s this do to watches like the steel openwork or RG Schumi that sell over retail on the secondary market? AP can’t sell used watches over retail, can they?

[Submarino]

Originally Posted by Daryl

https://www.highsnobiety.com/p/audem...resale-market/

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This should've happened long time ago. If Rolls Royce sells preowned cars why wouldn't the watch brands do the same right?

[jschmidtdmd]

Originally Posted by Marciano490

What’s this do to watches like the steel openwork or RG Schumi that sell over retail on the secondary market? AP can’t sell used watches over retail, can they?

Interesting comment- Same would apply to RM....where most models are going over MSRP.

Makes it somewhat difficult to "value" the pieces I guess, let alone assign a secondary value when it is higher than MSRP.

Would this have an impact on AD's and possible boutiques outing the popular items out the back door over MSRP? We know this is happening now- could this further encourage it?

hum.....

[Pavlos]

Rolex need to do this as well.

[mwasheikh]

What will this do to the grey market dealers?

[jschmidtdmd]

Originally Posted by Pavlos

Rolex need to do this as well.

I think every brand would benefit from some sort of certified preowned program, but I think that it may be less valuable to brands that produce a lot of watches.

For these smaller brands (AP, RM), they are able to control the price at the initial sale by removing ADs, going boutique only and giving no discounts. Then on the backend, they can set the secondary market as well and control the movement of product.

For example, I want a new AP and it is boutique only with no discount, I would be very inclined to trade in my old AP towards the new piece.

A brand like Rolex that is so crippled by their AD's would have a much harder time controlling this type of program IMO. They need the AD's to move the quantity and by doing so, they loose too much control.

[Rachdanon]

VC is doing fully serviced vintage pieces...somewhat similar.

[Xerxes77]

Originally Posted by SDDS

Hello guys, i am in geneva right now and I have passed Audemars boutique at the kempinski hotel, they have something called the certified pre-owned program, where basically they sell AP watches that are displayed at major AP events only, where clients get to try watches, so it's not a pre-owned watch that they buy from clients, hope this helps, I found alot of good watches too

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My AD tell me exactly same thing.
They will sell the watch who are displayed on the major event.
I think it’s a very good ideea for a big brand like AP to control and the secondary market! Also I think it’s better for us because the AP watch will start to keep better then today the value!!
I salute this ideea and I think major brand who are a poor value to resale will following this ideea!!! I think here to JLC, UN, BREGUET......watch who are a poor resale value!!!
Rolex I think NO!!
Because produce so many watches per year and the resale value are the best so they don’t do it! Also Rolex like this game with high demand from some pieces but they produce less!!
It’s a great start I think and for us who are watch lover will be better with resale value in this case only to AP but in the future......who knows!!!

[AK797]

Originally Posted by Marciano490

What’s this do to watches like the steel openwork or RG Schumi that sell over retail on the secondary market? AP can’t sell used watches over retail, can they?

I don't think AP will mind having one or two watches trading well above retail, much like the D500 and Nautilus, but if they wanted they could buy these up and resell them at smaller premiums and eat a small loss, but then they control the market. And fans will be pleased they are not getting gouged by uber ambitious dealers which seems to be an epidemic at the moment.

[jschmidtdmd]

Originally Posted by AK797

I don't think AP will mind having one or two watches trading well above retail, much like the D500 and Nautilus, but if they wanted they could buy these up and resell them at smaller premiums and eat a small loss, but then they control the market. And fans will be pleased they are not getting gouged by uber ambitious dealers which seems to be an epidemic at the moment.

I am just not sure it's that easy.

These are "MSRP". If the brand is selling secondary pieces over the suggested price, every AD/boutique will feel it's ok to sell "over" for new items.

Like I said- we know many AUTHORIZED dealers who are selling out the back door over cost. I personally have an issue with this.

I don't have the answer, but this sounds like a very slippery slope.

[Marciano490]

I imagine those pieces will just continue to be sold to greys and AP will take a see no evil approach. There’s no way they can sell them over msrp preowned and there’s no way an owner would forego profits to sell back to AP. Finally, if they’re using these models to incent VIPs, they have to keep them rare and their secondary value high.

[Speed]

Originally Posted by Jay (Eire)

So FPJ has been doing this for the last year or so. I agree it's a great idea, but what premium are you willing to pay to purchase what is now a used watch from the Boutique?

FWIW the FPJ prices, albeit for watches that had gone through a full service, touch up if necessary and all have full box and papers (sometimes not original to the watch, but obviously original FPJ), were definitely on the high side. Like really high.

With a smaller market to contend with versus AP in terms of supply I haven't noticed it help secondary market prices in any way.

I would be stoked to get a pristine Chronometre Bleu brought up to new !

[Chewbacca]

Originally Posted by Pavlos

Rolex need to do this as well.

rolex will never do this.

[PJ S]

Originally Posted by Submarino

This should've happened long time ago. If Rolls Royce sells preowned cars why wouldn't the watch brands do the same right?

Since when did RR sell used cars direct to the customer?
They have a network of deslerships to do that, leaving them to concentrate on making the cars, replacement parts, and bespoke requests.

[Ilianto Wirawan]

From what I see. Its more for the brand to control the population of their watches. I believe not every old used watches they buy are releasing back to the consumer market and I think it is brilliant idea.

[AK797]

Originally Posted by jschmidtdmd

I am just not sure it's that easy.

These are "MSRP". If the brand is selling secondary pieces over the suggested price, every AD/boutique will feel it's ok to sell "over" for new items.

Like I said- we know many AUTHORIZED dealers who are selling out the back door over cost. I personally have an issue with this.

I don't have the answer, but this sounds like a very slippery slope.

I don't think they will on current models, but on discoed models the supply demand model will inevitably mean premiums on certain models and on those AP can charge over the old retail without much issue or cries of manipulation, but as I said less than the free/grey market would have, as a sign of good faith.

As for ADs selling current pieces over retail I think this practice will stop, it has in the UK with Rolex who have been very proactive and threatening, and I think AP are going the same way and will shut this and those ADs down.

[Jay (Eire)]

Originally Posted by Speed

I would be stoked to get a pristine Chronometre Bleu brought up to new !

So there's a slight catch. FPJ is only doing this for discontinued models. I should had stated that in my original post. Seems like AP have been doing this in Geneva for existing models and the larger rollout would be for just that.


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[AK797]

Originally Posted by Chewbacca

rolex will never do this.

Rolex will never (have to) do this. Altho a change in management and strategy could see it happen.