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"For speculators on new Rolex watches, it might not make sense to hoard new watches, however. "Certainly demand far outstrips supply for Rolex and it is welcome news to watch lovers that Rolex is expanding," said Eric Wind, owner of Wind Vintage, a high-end pre-owned watch dealer. The move also provides more liquidity in the market for pre-owned Rolex watches, and perhaps a bit more value versus new watches. Rolex late last year decided it needed to enter the fast-growing certified pre-owned market, not just to cash in on that demand, but to also give its authorized dealers like Bucherer and Tourneau some much needed supply to sell. The report also found the luxury watch industry was dominated by the likes of Rolex, and fellow Swiss watch icons Patek Philippe and Audemars Piguet (AP). A report issued last week from BCG found the new luxury watch market was a $53 billion industry in 2021, and will expand to a $66 billion industry by 2026. Around one million mechanical timepieces produced a year is an extraordinary number for what is a handmade good, and even that large number is seemingly not putting a dent into Rolex’s global demand.
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