Audemars Piguet and the Future of Luxury Watches: How Certified Pre-Owned Sales Could Reshape the Market
Audemars Piguet and the Future of Luxury Watches: How Certified Pre-Owned Sales Could Reshape the Market
Audemars Piguet's reported move into certified pre-owned watches signals a potential transformation in luxury watch retail, resale pricing, authentication, and the economics of ownership.
The Swiss watchmaker Audemars Piguet is reportedly preparing to introduce an official Certified Pre-Owned (CPO) programme before the end of October 2026.
The initiative could mark a significant change in the luxury watch industry, allowing the manufacturer to participate more directly in the resale of watches it originally produced and sold.
According to industry reports published on October 20, the programme may operate through Audemars Piguet boutiques and AP Houses, with online sales also under consideration.
As of October 23, the company has not publicly confirmed the official launch date or detailed operating conditions.
Why the Luxury Watch Resale Market Matters
The luxury watch industry operates across two closely connected markets.
The primary market consists of new watches sold through manufacturers, boutiques, and authorized retailers. Official retail prices are established through the brands' pricing policies.
The secondary market includes pre-owned watches sold through specialist dealers, auction houses, online platforms, and private transactions.
Unlike retail prices, secondary-market prices fluctuate according to demand, rarity, condition, production history, and the availability of particular references.
Audemars Piguet's proposed CPO programme could bring these two markets closer together.
Rather than limiting its commercial relationship with a watch to the initial sale and subsequent servicing, the manufacturer could participate in authentication, refurbishment, and resale.
A $10.5 Billion Secondary Watch Market
The economic importance of pre-owned luxury watches is increasingly difficult to ignore.
According to EveryWatch's H1 2026 Secondary Market Report, the secondary watch market represented in its transaction dataset generated approximately $10.5 billion in sales during the first six months of 2026.
This represented a 37.2% increase compared with the same period in 2025.
Approximately 795,000 watches were sold, while the median transaction price reached $5,900.
Rolex accounted for approximately 41% of recorded secondary-market transaction value, followed by Patek Philippe at 14.4% and Audemars Piguet at 9.4%.
Together, these three manufacturers represented nearly 65% of the market covered by the report.
Audemars Piguet alone generated approximately $983 million in recorded secondary-market sales during the period.
These figures demonstrate why manufacturers have a growing commercial interest in the resale of their own watches.
Rolex Has Already Established the CPO Business Model
Rolex introduced its Certified Pre-Owned programme in December 2022.
The programme allows participating official retailers to sell eligible pre-owned Rolex watches authenticated and serviced under the manufacturer's standards.
Certified watches are accompanied by a two-year international guarantee.
By the first half of 2026, Rolex CPO sales had reached approximately $385.4 million, an increase of 101.3% year over year, according to EveryWatch.
Certified pre-owned sales represented approximately 9% of the Rolex secondary-market transaction value covered by the report.
The programme shows how authentication and official warranty coverage can become valuable services within the resale market.
For customers, these services may reduce uncertainty about authenticity and mechanical condition.
For retailers, they create an additional business opportunity beyond selling new watches.
Audemars Piguet May Take a Different Approach
Audemars Piguet has explored the secondary market since 2018, when former CEO François-Henry Bennahmias publicly discussed the importance of pre-owned watches.
Pilot initiatives subsequently took place in Japan, Switzerland, and the United States.
In October 2024, Marc Montagne joined Audemars Piguet as director of certified pre-owned.
The reported strategy differs from Rolex's authorized-retailer model.
Audemars Piguet may rely more directly on its own boutique network and AP Houses, potentially managing the acquisition, authentication, servicing, and resale of watches within its retail organization.
This could give the manufacturer greater control over how its pre-owned products are presented and sold.
However, direct participation also brings additional financial responsibilities.
The company would need to manage inventory acquisition costs, servicing expenses, resale pricing, and the time required to sell individual watches.
The Royal Oak and the Economics of Scarcity
Audemars Piguet's Royal Oak remains one of the most recognizable watches in modern luxury horology.
Introduced in 1972, its octagonal bezel and integrated bracelet helped establish a distinctive category of high-end sports watches.
The collection has also become important in the secondary market, where demand for particular models can push resale prices above official retail prices.
However, the entire Audemars Piguet catalogue does not follow the same pricing pattern.
The Royal Oak, Royal Oak Offshore, and Code 11.59 collections experience different levels of demand and resale value.
This creates a commercial challenge for any certified pre-owned programme.
A manufacturer must establish resale prices that reflect both the condition of individual watches and existing market demand.
Official certification may justify a premium for some buyers, but it cannot eliminate the market forces determining resale prices.
Authentication Becomes Part of the Product's Value
One of the most important elements of luxury watch resale is authentication.
A pre-owned mechanical watch may have undergone servicing, repairs, polishing, or replacement of components during its lifetime.
For collectors, originality and maintenance history can significantly affect value.
Audemars Piguet already distinguishes between an Extract from the Archives and a Certificate of Authenticity.
An archive extract confirms that specific case and movement numbers appear in the manufacturer's historical records.
A Certificate of Authenticity requires the watch to undergo a physical examination by the manufacturer's specialists.
This distinction illustrates the importance of examining the actual watch rather than relying solely on identifying numbers or documentation.
An official certified pre-owned programme could integrate such expertise into the purchasing process.
For consumers buying high-value watches, manufacturer-backed authentication and defined after-sales support may become increasingly important considerations.
Could Certified Pre-Owned Watches Cost More?
Official certification can influence pricing because it provides additional verification and service.
Buyers may be willing to pay more for a watch accompanied by a recognized manufacturer's authentication and warranty.
However, the financial value of certification depends on the watch, its market price, and the extent of the services provided.
Independent dealers may continue to offer more competitively priced alternatives, while specialist auction houses remain important for rare and historically significant watches.
Audemars Piguet will therefore be entering an established market with different types of buyers and pricing structures.
The programme's effect will depend on its final pricing policies, eligible models, warranty terms, and available inventory.
Luxury Watches as Objects of Ownership and Exchange
Luxury watches occupy a distinctive position between functional products, collectible objects, and assets with resale value.
A watch can pass through several owners while remaining mechanically serviceable for decades.
Its commercial value may change as models are discontinued, demand shifts, or collectors develop an interest in particular references.
This gives luxury watch manufacturers an opportunity to maintain relationships with customers beyond the first purchase.
Trade-in services and certified resale programmes could encourage owners to return to official retail channels when selling or replacing their watches.
At the same time, buyers must distinguish between the value of owning and enjoying a watch and its potential resale performance.
A manufacturer's certificate can establish authenticity under specified conditions, but it does not guarantee future market prices or investment returns.
The Future of the Luxury Watch Market
Audemars Piguet's anticipated CPO programme reflects a broader evolution in the luxury watch industry's business model.
Manufacturers are increasingly interested in the commercial life of their products after the original retail transaction.
Authentication, servicing, trade-ins, warranty coverage, and resale are becoming more closely connected.
Rolex has already demonstrated that certified pre-owned sales can develop into a substantial business within the secondary market.
Audemars Piguet's reported direct-to-consumer approach could offer another model for integrating luxury watch manufacturing with resale operations.
The official programme details, when announced, will determine how extensively the company participates in the market.
The most significant change may be the growing influence of manufacturers over watches that are already in private ownership.
As certified pre-owned services expand, the luxury watch market may become increasingly structured around the entire ownership cycle rather than the first sale alone.
For collectors and consumers, authentication, transparency, servicing quality, and realistic resale pricing will remain central to evaluating a pre-owned luxury watch.
For manufacturers, the secondary market represents a new relationship between brand value, customer loyalty, and long-term commercial opportunity.
The Audemars Piguet initiative illustrates how the economics of luxury watches are evolving beyond traditional retail and into the business of ownership itself.
Tags: Audemars Piguet, Audemars Piguet CPO, Certified Pre-Owned Watches, Luxury Watch Market, Watch Industry 2026, Royal Oak, Rolex Certified Pre-Owned, Secondary Watch Market, Luxury Watch Economics, Watch Resale Value, Watch Authentication, Swiss Watches, Luxury Watch Investment, Watch Collecting, Luxury Market Trends, K Trendy News
롤렉스 이어 중고 시계 직접 판매 추진…2018년부터 준비한 인증·정비·재판매 사업, 10월 말 공개 가능성
2026년 상반기 중고 시계 거래액 105억 달러…로열 오크의 가격 프리미엄과 브랜드 인증이 바꾸는 시계경제
[KtN 임우경기자]스위스 고급 시계 제조사 오데마 피게(Audemars Piguet)가 자사 중고 시계를 직접 인증하고 판매하는 사업을 추진하면서 럭셔리 시계시장의 유통구조에 변화가 예상된다. 그동안 신제품 판매를 중심으로 성장해 온 제조사가 이미 소비자에게 판매된 시계의 재거래까지 관리하는 방식이다. 중고 시계의 정품 여부를 확인하고 수리와 보증을 제공하는 과정에 제조사가 참여하면서 중고 거래가격과 공식 판매망의 역할도 달라질 수 있다.
오데마 피게는 이달 말 인증 중고(Certified Pre-Owned·CPO) 프로그램을 공개할 것으로 알려졌다. 10월 20일 해외 시계 전문매체를 통해 출시 계획이 전해졌으며, 23일 현재 공식 출시일과 세부 운영 조건은 발표되지 않았다. 프로그램은 브랜드가 운영하는 부티크와 AP 하우스(AP House)를 활용하는 직영 판매 방식이 유력하게 거론된다. 온라인 판매도 검토 대상에 포함된 것으로 알려졌다.
새로운 사업의 대상은 기존에 판매된 오데마 피게 시계다. 제조사가 중고 제품을 확보해 정품 여부와 상태를 확인하고 필요한 정비를 거쳐 다시 판매하는 구조가 예상된다. 기존에는 전문 중고 시계 판매업체와 개인 거래, 경매회사가 담당하던 영역에 제조사가 직접 참여하는 것이다.
오데마 피게의 중고시장 진출은 2018년부터 논의돼 왔다. 당시 최고경영자였던 프랑수아 앙리 베나미아스(François-Henry Bennahmias)는 중고 시계시장의 성장 가능성을 언급하며 기존 시계를 매입하고 다시 판매하는 사업을 추진하겠다는 의사를 밝혔다. 이후 일본과 스위스, 미국 등에서 보상판매와 중고 거래 관련 시범사업이 진행됐다.
2024년 10월에는 마크 몽타뉴(Marc Montagne)가 인증 중고사업 책임자로 합류했다. 몽타뉴는 바쉐론 콘스탄틴(Vacheron Constantin)에서 디지털과 전자상거래 부문을 담당했으며, 시계의 자산 가치와 시장구조를 다룬 'Invest in Watches'의 저자이기도 하다. 오데마 피게가 중고 시계의 매입과 판매를 별도의 사업 영역으로 준비해 왔다는 점을 보여주는 인사다.
럭셔리 시계시장의 유통은 크게 신제품을 판매하는 1차 시장과 이미 판매된 시계를 재거래하는 2차 시장으로 나뉜다. 1차 시장에서는 제조사와 공식 판매점이 공급과 가격 정책을 관리한다. 2차 시장에서는 전문 거래업체와 경매회사, 개인 판매자가 보유한 시계를 시장가격에 따라 거래한다.
두 시장의 가격은 같은 시계라도 다르게 형성된다. 신제품의 공식 판매가격은 제조사의 가격 정책을 따르지만 중고 시계는 생산연도와 보존 상태, 구성품, 거래량, 구매 수요 등에 따라 가격이 달라진다. 인기 모델은 공식 판매가격보다 높은 금액에 거래되기도 하고, 수요가 상대적으로 적은 제품은 신제품보다 낮은 가격에 판매되기도 한다.
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