If you are a reader of Jake's Rolex World, you know I consider many vintage Rolex ads to be works of art, in and of themselves. This 2012 Rolex Milgauss ad, in particular, strikes me as having magnificent composition. The GV Milgauss model (pictured below), was recently discontinued and featured the innovative, unique Rolex trademark green edged sapphire crystal, is so un-Rolexy in so many ways, but that is what makes it so interesting. The orange 3, 6, & 9 markers, coupled with the orange lighting bolt second hand, really set it apart. GV is French and means "Green Crystal." I still can't believe Rolex actually discontinued this amazingly iconic model???
I was talking with Jake about this story, and he said he thought Rolex should change "CPO" to "CPL," from Certified Pre-Owned to Certified Pre-Loved.
While Rolex's CPO program has gained momentum, especially in the U.S., sales still represent a small portion of the general pre-owned inventory sold online, according to an interesting report just released by WatchCharts and Morgan Stanley.
As of Oct. 1st, 2023, U.S.-based Tourneau totaled 1,400 Rolex watches listed online while Bucherer totaled just over 200, the report said. This figure will likely go up as new Rolex retailers in Europe join the CPO fray: Watches of Switzerland group, for example, will soon be selling certified pre-owned Rolex watches in the U.K.
The fact Rolex’s current CPO inventory primarily consists of references produced between 1990 and 2010 begs the question: Is there a growing demand for 13- to 30-year-old models, most of them equipped with smaller cases?
One school of thought suggests trends in sizes have changed. Another theory suggests modern pieces are still more popular, and Rolex owners would rather keep their watches than accept an authorized dealer’s offer. Meanwhile, newer models that are part of the CPO program tend to be snapped up at a higher rate, creating a disproportionate amount of neo-vintage Rolexes left in inventory.
IN ROLEX WE TRUST
Jake mentioned in the past Rolex was like a country, with Rolex watches being a highly trusted and sought-after currency, and store-of-value for wealth preservation. That's based largely on the fact Rolex watches are designed and built-to-last, and thus stand the truest test—of time. Jake is a designer, and to quote him again: "Timeless design, by definition, is when something appears to be from the past and future simultaneously." That sums up Rolex's overall value proposition.
So, if a customer isn't trying to flip a Rolex, but is investing in a long-term wrist companion that was previously loved, they are often willing to pay a premium for the blessing of authenticity from Rolex. Still, if they ever fall out of love, they could benefit from the CPO-added value to resell the watch.
It is worth noting Rolex customers who are loyal to the brand are likely willing to pay a premium for a pre-loved Rolex, especially if they can avoid having to wait on a vague waiting list.
That premium seems to have increased now, at least in Europe, topping 30%. All that according to the report, which compares the price of each Rolex CPO listing to typical prices for the same watch sold by a non-Rolex certified dealer in the same geographical region.
In short, when compared to the previous quarter, Rolex CPO premiums have increased several points, from 20%-25% to 28%-30%, above non-CPO pricing, the latest sign Rolex authorized dealers involved in the program have felt little pressure from the traditional grey market.
The CPO program can be considered a success if authorized dealers can continue to carry that double-digit premium over pre-owned pieces on the grey market. Rolex clients seem to appreciate this added value proposition.
It's interesting to note the difference in apparent popularity of different Rolex models between the USA and European markets as seen above and below.
Captain Danny's article is brilliant as it really captures the essence of Rolex's CPO program. In my mind, this program achieves two innovative goals. It is an opening salvo against the grey market, at least for customers who want to own and wear a Rolex as apposed to flipping it.
Secondly, I remember a fascinatingly insightful strategic marketing story someone once shared with me about De Beers slogan that said "A Diamond is Forever." They said the challenge De Beers had back in the late 1940s, was women were fickle when it came to jewelry, and would often get sick of and want to sell their old jewelry, or diamonds. This meant that De Beers primary market had to compete with the broader secondary market which cannibalized the former.
In other words, if somebody obtained a diamond and later sold it, they would put it up for sale in the secondary marketplace, which would compete with De Beers in the primary marketplace. The logic was if De Beers could convince ladies not to sell their used diamonds into the secondary marketplace, they would in effect have a monopoly of sorts on the primary marketplace. This De Beers campaign first rolled out in 1953 (same year Rolex developed the Submariner) in the major motion pictured titled "Gentlemen Prefer Blondes" with Marylin Monroe telling women Diamonds Are a Girls Best Friend, as they will never grow old or leave you:
Thus, De Beers came up with the subtle marketing messages of: "Diamonds Are A Girls Best Friend" and "Diamonds are Forever". They also came out with a James Bond film titled "Diamonds are Forever" in 1971 that featured Sean Connery as Secret Agent 007. A Diamonds is Forever sends a subliminal message that once a woman obtains a diamond she should never part with it, and thus wipes-out the secondary market.
Rolex was brilliant as they did the opposite by embracing the secondary market with forming their Rolex CPO program, which seeks to add additional value to used Rolex watches, not only in the primary, but in the secondary, and potentially tertiary marketplaces, which creates a win/win/win for Rolex as well as for loyal customers in the secondary and tertiary marketplaces.
ROLEX Piece of Mind
There is another benefit I can think of for the CPO program, and that has to do with the peace of mind that comes from purchasing a used Rolex that has been certified as being authentic by Rolex.
I remember back in 1996 buying my first stainless steel Rolex Daytona. It's hard to believe, now that I think about it, that I bought my first Daytona more than 25 years ago!?!! I bought a grey market stainless steel Daytona for around $10K, and the actual watch I bought is pictured below.
As I recall, it was the first Rolex I bought from a grey goods dealer in California, who I didn't know prior to purchasing from him. He seemed like a trustworthy dude, but after I bought the watch I started second-guessing myself, and wondered it if was 100% legit? So I came up with a brilliant idea. I took the Daytona to the Officially authorized Rolex service center in San Francisco, and I waited my turn. A Rolex watchmaker in a white lab coat greeted me and said "How can I help you?'
I responded and asked if he could take a look at the Daytona and confirm it was authentic? I handed him the watch, and then the strangest, most unexpected thing occurred. He didn't take the watch in the back, nor did he open the back of the watch as I thought he might. He didn't even pull out a loupe to take a closer look at the watch. Instead, he held it in his right hand, and brought it to within about 6 inches of his eyes, shook it and listened to the rotor fly around in the watch, then less than 10 seconds after I handed it to him, he handed it back to me and said: "It's real!" I said "Are you sure???" He said yes. I asked, "Isn't there something else you would want to do to authenticate it? He rolled his eyes in a tolerative way and said, "No."
I walked out and was kinda shocked and didn't really know what to make of the experience. My point is if I had purchased the watch through Rolex's CPO program, it would have given me complete peace of mind, which for many people is invaluable.
A new cast member joined the Fast & Furious franchise back in mid 2012, when thier ninth installment came out. He is a five-time wrestling U.S. Champion, four-time world tag team champion, and a 16-time world champion. He is tied with Ric Flair for the most world championship reigns in WWE history, including 13 with the WWE Championship, a record for the title. He is also a two-time Royal Rumble match winner, a one-time Money in the Bank winner, and has headlined several major WWE pay-per-view events, including their flagship event, WrestleMania, five times.
John Cena plays Jakob Toretto, Dominic's younger and competitive brother, in "Fast and Furious 9," which came out in mid 2021.
Below, his tie matches the orange hand of the Explorer II; his shirt, the white dial. The blue star is the logo of the Make-A-Wish Foundation (Cena currently holds the record for most wishes granted).
Though he's been wearing his Explorer II the longest, he promoted the release of "Fast & Furious 9" with a Rolex Batman on his wrist, which matches perfectly the black and blue "F9" logo.
Outside of entertainment, Cena is known for his involvement in numerous charitable causes, namely with the Make-A-Wish Foundation. Granting wishes since 2004, Cena has gone on to grant the most wishes (over 650) to children battling life-threatening diseases.
More recently, he helped battle Covid misinformation—beseeching people to check their sources—by stripping down to his waist on John Oliver's show, a rose-gold Daytona 116505 on his wrist. John Oliver and Cena share the same birth year, month and day. I'll include four pictures; the rest is on video.
In October 2020, Cena married girlfriend Shay Shariatzadeh, whom he had been dating since early 2019, in a private ceremony in Tampa, Florida. The two met during the production of Cena's 2019 film "Playing with Fire," which was filmed in Vancouver, where Shariatzadeh works.
The star on his collar is the Make-A-Wish Foundation logo.
I love how Cena doesn't just wear Rolex in formal settings. His Rolex is his everyday watch.
Cena will play alongside Jordana Brewster who has been with the Fast & Furious franchise since its first installment. Jordana is also a bit of a Rolex fanatic.
Lee Majors posing with wife Farah Fawcett Majors and supermodel Brit Ekland
...Rolex Spotting...
The Six Million Dollar Man
If you know the highly iconic 1970s words, they are permanently embedded in the back of your mind. Say them with me:
Steve Austin, Astronaut. A man barely alive...
Oscar Goldman: Gentlemen, we can rebuild him. We have the technology. We have the capability to make the world's first bionic man. Steve Austin will be that man. Better than he was before. Better... stronger... faster...
When was the last time you read a story or watched a documentary that was so bad, it was great? You are either going to absolutely love this story, or think it is completely ridiculous. So let's hop in the Rolex Time Machine and take a trip back to yesteryear to explore Rolex watches in the world of The Six Million Dollar Man...
Steve Austin with Oscar Goldman
I was born in 1966, and when the Six Million Dollar Man debuted in the mid 1970s, I was only 8 years old, and it was next level stuff, like Star Wars. In other words, it was THE BOMB!!! If you grew up as a kid watching Steve Austin as The Six Million Dollar Man, you will probably love this story, and particularly the AMAZING DOCUMENTARY seen below. If you are 22 years old, and a fan of great documentaries, you will probably appreciate the video below.
When I examine The Six Million Dollar Man TV show today that originally aired in the 1970s, I paradoxically find it to be so bad, campy an and kitschy, that I love it. In other words, it's so bad, it's good...you get it. Also, it's so fascinating, otherworldly and multi-faceted on so many different levels, I can't seem to get enough!?!!
If you are not familiar with The Six Million Dollar Man, the premise of the show is based upon a super-competent Apollo Astronaut, Steve Austin, who had traveled to the moon, later tested a prototype aircraft for NASA and experienced a terrible crash that almost killed him. The government decided to save Steve by making him the first Bionic Man at a cost of $6 Million around 1972. Steve's bionic legs are nuclear powered as is his bionic arm as well as a bionic eye that can see way beyond a normal a human eye. In other words, Steve is the first cyborg.
Steve is an extremely handsome, charismatic, masculine ladies man. He is bold, tall, dark, handsome and highly athletic, and typically aloof discreet, kind of like Rolex. So basically, he is like a James Bond secret agent super-spy that regularly goes on special missions coupled with an America Indiana Jones kind of high action character living in a sci-fi future world—which almost sounds Blade Runneresque. Steve is also a very hip dresser, with a propensity for casual leisure clothing, including track suits that show of his harry chest. He is a hardcore male chauvinist, and by today's standards would be considered to be politically incorrect on many levels.
If you are a regular reader of Jake's Rolex World you probably know I regularly take opportunities to wander off the reservation to explore the history of the Kings of Cool. This would included my entire series of Profiles-in-Coolness with stories on ultra-cool dudes, like, Steve McQueen, Elvis Presley, Miles Davis, Paul Newman, James Coburn, James Bond, Robert Redford, or even Cary Grant, all of which wore Rolex watches. It helps if they wore Rolex watches, but what about when a really cool dude existed, who is not known to have worn a Rolex? That is what this story is about.
When I recently watched this amazing documentary, on Lee Majors, as Steve Austin in The Six Million Dollar Man, not only did I come up empty handed, (no pun intended :-), as I kept hoping to find a Rolex on his wrist, but I was wrist-watch-checking every other person in documentary, and I did discover some people wearing Rolex watches. On a side note, it is clear I have a bizarre habit in that I can't seem to watch any form of video without carefully examining each character to see if they are wearing a Rolex :-)
Of course, while I was 'Rolex Spotting', so to speak, I notice a number of people who I didn't see rocking a Rolex, but knew they did, like Jack Klugman, as an example. I could not help but notice Sonny Bono rocking his Mocha GMT-Maste, along with a funkadelic Elvis collar like denim leisure suit with gold chains as pictured below:
Greg Morris of Mission Impossible fame is pictured below, and from the documentary kinda looks like he is rocking a Rolex, but I can't make a 100% positive ID:
I noticed Robert Loggia rocking what appears to be a Rolex Datejust as seen below from the Six Million Dollar Man Documentary...
Our Captain Danny recently sent me the photo below and he said: "Taking my "Orange Hand" Explorer 2 everywhere I go..." I would say that Captain Danny is an American in Paris, but Danny is originally from France...
If you are a regular reader of Jake's Rolex World you know I have always been super-fascinated with the psychology behind luxury brands, as Rolex has remained one of the great status symbols of both the 20th and 21st centuries. While this video does not discuss Rolex, I find it to be really interesting on many levels.
Historically Rolex has always been extremely secretive and discreet, and no journalists in the past have ever been invited "INSIDE ROLEX" to explore and report on all four Rolex Manufacturing faclities in Switzerland.
In November 2013, this changed when Rolex invited Jake to take an unprecdented journey into the heart of Rolex to learn and report on everything he witnessed and learned.
This Super-Detailed 3 Part Story is a "MUST READ" story for anybody who wants to understand what really makes Rolex tick.
