Audemars Piguet officially enters the Certified Pre-Owned market. After years of rumors and experimentation, the Le Brassus-based manufacturer has unveiled The Watch Keepers, a digital platform that allows users to buy and sell its pre-owned watches, complete with authentication and an official warranty. This is significant news for the entire industry, especially considering that the secondary market is projected to reach an estimated value of 22–24 billion francs by 2025.
The announcement comes nearly four years after the launch of the Rolex Certified Pre-Owned program, but Audemars Piguet has opted for a different business model. The Maison doesn’t purchase watches intended for resale: it authenticates them, assesses their condition, and manages the transactions on behalf of the owners, retaining a commission of up to 20% on a portion of the sale price. This approach promises greater security, but it also raises a rather practical question: how worthwhile is it to entrust a Royal Oak to the very same manufacturer that produced it?
Make yourselves comfortable, today we’re going to dig deep into this story, exploring how the service works and the implications it could have for the secondhand market, independent retailers, and, of course, collectors.
The Watch Keepers: Audemars Piguet Officially Launches Its Certified Pre-Owned Program
On October 26, 2026, Audemars Piguet unveiled The Watch Keepers, its Certified Pre-Owned program, initially available in the European Union and Switzerland, with plans to gradually expand the service to other markets.
The platform is a digital space dedicated to the buying and selling of certified Audemars Piguet timepieces, offering an experience that evokes the hospitality of the AP Houses. Visitors are welcomed into a virtual villa, accompanied by consultants represented by digital avatars, and can explore the available watches, learn more about their features, or list their own timepiece for sale.
This approach reflects the manufacturer’s desire to maintain a direct relationship with its customers, even in the secondary market. At launch, just over 40 watches were available, while the stated goal is to maintain a selection of approximately 100 timepieces at any given time, spanning different collections and eras.
This service is available to owners of Audemars Piguet watches that were originally sold at least two years ago. To submit a watch, the seller must register, provide the serial number, and submit proof of ownership. After preliminary checks, the timepiece is shipped via insured delivery to the manufacturer’s facilities, where watchmakers verify its authenticity by comparing its characteristics with historical records and confirming that it has not been reported as stolen.
This is followed by an assessment of the watch’s aesthetic and functional condition, accompanied by professional photographs and a five-level rating system, which allows the buyer to understand the condition of the main components, from the case to the dial to the bracelet.
At this point, the owner can choose to offer their watch at a fixed price or through an auction, with the option to set a reserve price. The timepiece remains in the custody of Audemars Piguet, but ownership remains with the seller until the transaction is completed.
The buyer receives a certificate of authenticity, a travel case, and a two-year international warranty. The original box and documentation accompany the watch when available.
It’s important to note one detail: certification does not automatically entail a complete inspection. Any necessary technical work is evaluated separately and may be proposed to the owner prior to admission to the program.
How much does it cost to sell a Royal Oak through Audemars Piguet?
The way The Watch Keepers operates introduces a significant difference compared to traditional buying and selling through an independent dealer. Audemars Piguet acts as an intermediary, handling authentication, documentation, safekeeping, and transaction management, without purchasing the timepiece in advance.
Of course, the service involves a commission.
According to the fee structure reported by the trade press and detailed in the platform’s FAQs, Audemars Piguet applies a progressive commission of 20% on the first €25,000, 15% on the portion between 25,000 and €50,000, and 10% on the amount exceeding €50,000. The percentages are therefore applied in tiers, rather than to the entire transaction amount.
Let’s look at a concrete example. Imagine selling a Royal Oak for €40,000. Under this structure, the commission would be €5,000 on the first 25,000 and 2,250 on the next 15,000. In total, that’s €7,250, leaving the owner with €32,750, before any additional fees.
If the sale price were to rise to €60,000, the total commission would amount to €9,750, leaving the seller with €50,250.
These figures are worth noting. On the one hand, the owner benefits from the official certification and the manufacturer’s reputation, factors that could make the timepiece more appealing and lead to a higher valuation compared to other channels. On the other hand, one must consider to what extent this potential advantage offsets the commissions.
To achieve the same net proceeds, a Royal Oak sold through The Watch Keepers may need to fetch a higher price than in a private transaction. A comparison with an independent dealer, on the other hand, is more complex, as it depends on the terms of purchase, any agreed-upon commissions, and the services offered.
The question, then, concerns the actual value of the certification: how much more will a buyer be willing to pay for a watch authenticated directly by Audemars Piguet? And above all, will this premium be enough to make the program worthwhile for sellers as well?
Audemars Piguet vs. Rolex: Two Different Strategies
A comparison with Rolex is inevitable, but the differences between the two programs deserve closer examination.
The Geneva-based manufacturer launched its Rolex Certified Pre-Owned program in December 2022, initially through Bucherer and subsequently expanding it to other authorized retailers. The program allows customers to purchase Rolex watches that are at least two years old, authenticated according to the brand’s standards, fully serviced, and backed by a two-year international warranty.
The system relies on a network of participating authorized retailers, who sell the certified watches and set their prices. Rolex is responsible for certification and establishes the program’s technical and quality standards.
Audemars Piguet, on the other hand, has chosen to directly manage a digital platform where the owner retains ownership of the timepiece until it’s sold. The manufacturer certifies the watch, takes care of its storage, and facilitates the transaction, earning a commission on the final price.
This difference also affects commercial risk. In the Rolex model, inventory management and resale are the responsibility of participating retailers; Audemars Piguet, on the other hand, can operate on a consignment basis, without having to purchase the watches intended for the platform.
There is also one aspect that is particularly important for collectors. Rolex provides a complete service, while Audemars Piguet distinguishes between authentication and any technical work that may be necessary.
Let’s consider a vintage Royal Oak, perhaps a 5402 model with an original dial and components. In such a case, preserving the original features can have a profound impact on the watch’s collectible value. The possibility of obtaining certification without automatically requiring cosmetic restoration could therefore be an advantage, provided that the watch’s condition is accurately documented.
This doesn’t mean that an official certification automatically guarantees the originality of every component as it was at the time of initial sale. Authenticity, conformity, and condition are distinct aspects that require specific evaluations.
For those purchasing a contemporary watch intended for everyday use, a complete overhaul can be reassuring. For those seeking a historic model, however, the priority might be to preserve the dial, hands, case, and finishes.
These are two different needs, which explain why there is no single ideal model of Certified Pre-Owned.
A 24 billion CHF market: why watchmakers want to enter it
To understand the significance of Audemars Piguet’s decision, one must look at the figures for the secondary market.
According to LuxeConsult’s 2026 Secondary Market Report, the value of pre-owned watch transactions reached between 22 and 24 billion Swiss francs in 2025, representing growth of approximately 7%. During the same period, the primary market for new watches was estimated at around 61 billion francs, based on retail sales value.
The growth outlook is equally significant. In its baseline scenario, LuxeConsult forecasts annual growth in the secondary market of between 8% and 11%, while the secondary market is projected to surpass the primary market between 2032 and 2038, depending on how their respective growth rates evolve.
These are projections, of course, but they help illustrate the sector’s strategic importance.
Even more interesting is the concentration of value. According to LuxeConsult, Rolex, Patek Philippe, and Audemars Piguet together account for approximately 61% of the value of transactions in the secondary market, compared to about 45.5% in the primary market.
These three manufacturers alone account for a particularly large share of the value generated by the buying and selling of pre-owned timepieces.
Consider a Royal Oak purchased at a boutique and subsequently resold several times. Each transaction can generate profits for dealers, platforms, and intermediaries, while the watchmaker remains the benchmark for authenticity, customer service, and the product’s reputation.
Through The Watch Keepers, Audemars Piguet can participate directly in some of these transactions. But the benefit may extend beyond commissions: the program also allows the brand to maintain a relationship with owners, gain a better understanding of how models circulate, and observe the dynamics of the secondary market through the transactions managed by the platform.
Rolex, Vacheron Constantin, and others: Certified Pre-Owned is already a major business
Audemars Piguet is entering a sector in which other watchmakers have already begun to invest.
The most significant precedent remains that of Rolex. According to LuxeConsult estimates, the value of sales generated through the Rolex Certified Pre-Owned program reached approximately $590 million in 2025. This figure refers to transactions made by the participating network, not to revenue directly collected by the manufacturer.
WatchCharts data also indicates that in the third quarter of 2026, retailers participating in the program sold approximately 10,300 certified watches, with an estimated value of $229 million.
These results demonstrate that the Certified Pre-Owned market can reach considerable proportions, even though it represents only a portion of the overall secondary market.
Vacheron Constantin has also developed an official program through which timepieces are authenticated and verified according to the Maison’s standards, with an international warranty of at least two years and a dedicated digital passport.
Other luxury watchmakers, including Richard Mille and F.P. Journe, have developed initiatives related to the “second wrist” in different ways, more closely tied to their respective sales networks.
The common thread is the growing willingness of manufacturers to support their timepieces even during the later stages of their commercial life. However, it would be simplistic to consider all these programs equivalent: distribution, servicing, certification, warranties, and financial terms can vary significantly.
Competition in the coming years will hinge on these factors.
Will official certification increase the value of watches?
There is an issue that directly affects those who collect, buy, or sell watches.
Traditionally, the value of a model on the secondary market depends on several factors: rarity, condition, originality of components, presence of accessories, provenance, and demand. In the vintage segment, a unique configuration or a dial in exceptional condition can affect the price much more than is the case with a contemporary model.
With the rise of Certified Pre-Owned programs, official certification from the manufacturer is now added to these factors.
Its value is easy to understand. A buyer can rely on inspections conducted by professionals who have access to technical documentation, historical records, and specific product expertise. This assurance can reduce some of the uncertainties typically associated with pre-owned transactions.
But it could also contribute to a price differential between certified timepieces and equivalent watches offered through other channels.
Let’s imagine two Royal Oak watches of the same reference, with comparable condition and accessories. One is sold by an independent dealer, the other through The Watch Keepers. How much more will the market be willing to pay for the manufacturer’s certification?
There is still no universal answer. Any compensation awarded will depend on the reference, the documentation, the level of trust in the operator, and the availability of comparable examples.
The risk for manufacturers is that high commissions and prices above market rates will make their platforms less competitive. The opportunity, on the other hand, is to offer a service that can economically justify that price difference through authentication, support, and guarantees.
There is also the role of independent dealers, whose expertise remains essential, especially in the vintage market. Their knowledge of model numbers, dial variations, authentic components, and condition is a valuable asset that is difficult to replace with a certificate alone.
Official certification could therefore complement the independent market rather than replace it. Much will depend on how prices are set and how much real value collectors assign to the various services.
Audemars Piguet was already considering this back in 2018: why did it wait eight years?
The launch of The Watch Keepers is the result of a process that began long before 2026.
As early as January 2018, François-Henry Bennahmias, had identified the second wrist as one of the watch industry’s major future opportunities. In an interview with Reuters, he highlighted how unusual it was, from a commercial standpoint, that the value generated by the subsequent resale of timepieces was captured almost exclusively by operators outside the manufacturers.
Audemars Piguet subsequently experimented with initiatives focused on pre-owned watches, though it didn’t develop a structured international program.
Eight years later, under the leadership of Ilaria Resta, that vision is taking shape with The Watch Keepers, headed by Marc Montagne.
Meanwhile, the market has changed. Digital platforms have made buying and selling more accessible, collectors now have tools to compare prices and specifications, and Rolex’s Certified Pre-Owned program has demonstrated that there is genuine demand for officially certified timepieces.
Audemars Piguet’s decision is also part of its ongoing effort to strengthen its direct relationship with customers, a trend already evident in the development of the AP Houses and the brand’s manufacturer-controlled distribution network.
The Watch Keepers allows us to extend this relationship to those who have owned an Audemars Piguet for years or wish to purchase a discontinued model. It’s certainly a business opportunity, but it’s also a tool to accompany collectors through the various stages of their relationship with the brand.
The pre-owned market is changing. What about collectors?
Audemars Piguet’s entry into the Certified Pre-Owned market represents a significant milestone for the watch industry. Following Rolex and Vacheron Constantin, another major watchmaker has chosen to participate directly in a market that, for decades, has developed primarily through independent dealers, auction houses, and collectors.
There are still many unknowns. Which items will attract the most interest? Will the prices be competitive compared to the independent market? Will official certification become a factor that consistently influences prices? And above all, will collectors be willing to recognize their added value?
For now, the answer will depend on the first transactions and how the program evolves.
One thing is certain: the pre-owned market has become too important for major watchmakers to continue merely observing it from the sidelines. The Certified Pre-Owned program offers them the opportunity to once again share in the value generated by their watches, even many years after the initial sale.
However, there remains a fundamental distinction. The value of a timepiece depends not only on who certifies its authenticity, but also on its history, its condition, and the expertise of the seller.
Now we’ll leave the question up to you: given the same model and conditions, would you be willing to pay more for a Royal Oak certified directly by Audemars Piguet, or would you continue to prioritize your relationship with an independent dealer?
Because the future of Certified Pre-Owned will also depend on this: how much value we are truly willing to place on the manufacturer’s brand.
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