When Rolex announced Bucherer as its first partner for the nascent Certified Pre-Owned program, customers eagerly scanned for what was available and at what prices.
They were not surprised to learn that there was a premium to pay over the prices widely on offer from secondary market specialists.
But, with prices sometimes as much as 50% above market rates for popular second hand Rolexes, it looked a tall order for Bucherer to compete with the dealers hawking the same pieces on eBay and Chrono24.
Rolex is not setting the prices of CPO watches being sold by Bucherer, we are told.
The premium price at Bucherer is because of the comfort blanket of full servicing, authentication and refurbishment by Rolex-accredited watchmakers, in addition to a two year Rolex-backed international warranty.
WatchBox’s co-founder, Danny Govberg, told WatchPro at the time of Bucherer’s launch that prices would come down as competition increased, but when Watches of Switzerland Group joined the CPO scheme and pretty much matched Bucherer’s prices, it started to look like the free market forces of the secondary market would not apply to Rolex CPO watches.
That has changed today with the news that WatchBox has bought Govberg, Radcliffe and Hyde Park Jewelers to create The 1916 Company, which is part of the Rolex CPO program from day one.
So WatchPro went to check Rolex CPO prices to see whether Mr Govberg is true to his word.
Rolex CPO watches are currently offered at govbergwatches.com (with some co-branding for The 1916 Company), but 1916 will soon have a fully-functioning ecommerce site, which will take over the Rolex CPO business.
A quick browse for the most commonly-traded second hand Rolexes found them around 20% cheaper than at Bucherer, and far closer to the current market prices.
For example, a Rolex Certified Pre-Owned GMT-MASTER II Batman (ref. 126710BLNR-0002), is offered by Govberg/1916 for $19,950.
Precisely the same watch is offered for $24,500 by Bucherer.
The Bloomberg Subdial index, which tracks secondary market prices, says the current price of a Batman is $16,481.
Customers may pay an extra $3,500 with 1916 for the privilege of a Rolex warranty, box and papers, but almost $10,000 more to buy from Bucherer? We will see.
Spot the difference. Govberg/1916 has a 2020 steel Rolex Daytona advertised for $30,950. A 2018 model of the same watch is $36,000 at Bucherer. 
How about the coveted steel Rolex Daytona, ref. 116500LN (black dial, ceramic bezel).
Govberg/1916 has a 2020 model advertised for $30,950.
Over at Bucherer a 2018 version of the same watch is $36,000.
Bloomberg Subdial says the market price is $25,412.
