Harrods Leads The Way in Second-Hand Luxury With a New Rolex Space

It must be said that the market for pre-owned luxury watches is experiencing strong growth, and Swiss giant Rolex is perfectly positioned to take advantage of this shift. According to industry studies, the global pre-owned market, estimated two years ago at around $24 billion, is expected to nearly double by the end of the decade. According to data from pre-owned watch specialist Watchfinder & Co, Generation Z is becoming fond of luxury watches from the age of 15. This is earlier than their elders, the Millennials, who became interested in this market in their twenties. These young consumers spend around €10,870 on a watch, double the amount spent by the previous generation.

Analyses of the watch industry also highlight that the secondary market is growing faster than the primary market, to the point that the two could reach comparable sizes in the coming years. In this context, the affiliation with Rolex is proving to be very important for the London department store as it satisfies growing demand from customers. Collectors and new buyers today want the security of authenticity without sacrificing access to hard-to-find items.

A strategic repositioning is also taking shape: by targeting the high-end second-hand market, Harrods is capitalizing on sustainability, thereby attracting a younger clientele interested in investment-collecting and ethical approaches. This pool of consumers has made certain Rolex items extremely coveted on the secondary market. On a purely symbolic level, it should also be noted that welcoming a Rolex Certified Pre-Owned space into the department store is an “official” demonstration of the acceptance of second-hand goods in the luxury world. For Harrods, this represents both a lever for commercial modernization and a guarantee of prestige, as selling certified pre-owned items allows the department store to combine heritage and profitability, while aligning itself with the new ethical and economic expectations of its customers.