Audemars Piguet Prepares to Launch “Watch Keepers” CPO Program

Audemars Piguet is preparing to launch “Watch Keepers,” its long-awaited Certified Pre-Owned (CPO) program, bringing the Swiss watchmaker directly into the market for its pre-owned watches. The official @thewatchkeepers Instagram account strongly hints that the Audemars Piguet CPO program will launch on October 26, 2026, although AP has yet to officially confirm the full details.

Audemars Piguet CPO: A Long Time Coming

The move has been years in the making. Audemars Piguet first announced plans to enter the pre-owned market in 2018 under then-CEO François-Henry Bennahmias, who described secondhand watches as the next major opportunity for the industry. Since then, the company has tested trade-in and pre-owned sales initiatives in several markets, including Japan, Switzerland, and the United States. In fact, AP filed for a US trademark for “The Watchkeepers” in January 2024, and it was granted in September 2026.

The upcoming program is expected to operate through AP’s own network of boutiques and AP Houses, and almost certainly online sales. Unlike Rolex, which launched its CPO program through authorized retailers in December 2022, Audemars Piguet would handle the acquisition, authentication, servicing, and resale of its watches directly.

Audemars Piguet CPO vs. Rolex CPO

The commercial opportunity is substantial. Rolex’s CPO program generated an estimated $229 million in sales during the third quarter of 2026, according to the latest Morgan Stanley and WatchCharts report. That represents a 30% increase over the previous quarter, putting the program on track to reach $1 billion in annual sales.

Both Audemars Piguet and Rolex regularly rank among the top ten luxury watch brands, but they operate on vastly different scales. AP produces approximately 53,000 watches annually compared to Rolex’s estimated 1.15 million. Roman Sharf, founder and CEO of Luxury Bazaar, sees this difference as an important factor in how AP’s program might develop.

“Anyone who knows me knows I’m a huge Audemars Piguet fan, so I’m surprised it’s taken them this long. The secondary market has become too important for brands to ignore. But AP is a very different animal from Rolex. They’re producing around 50,000 watches a year compared to over a million for Rolex, and that changes the dynamics completely. It’s going to be interesting to see how they source enough inventory to make this work.”

Will Buyers Pay a Premium for Audemars Piguet CPO?

Pricing will be another consideration. According to Morgan Stanley and WatchCharts, in-production Royal Oak watches currently trade at an average premium of 37% over retail prices on the secondary market. By contrast, Royal Oak Offshore and Code 11.59 watches trade at average discounts of 23% and 34%, respectively.

Sharf, who has previously questioned the substantial premiums associated with Rolex CPO, believes AP could face similar questions about how much buyers are willing to pay for manufacturer certification.

“Look at Rolex CPO. We’ve seen premiums of 20, 30, even 40 percent over the regular secondary market. There are customers willing to pay that for the peace of mind, and that’s fine. But AP has a different challenge. A Royal Oak is one thing. An Offshore or a Code 11.59 is another. Those watches are already selling below retail on the secondary market. How much more is somebody really willing to pay for a certificate?”

What’s Next?

For now, AP has not disclosed which watches will qualify for certification, what warranties will accompany them, or how prices will compare with those of independent dealers. Those details will help determine how competitive the program will be when it launches.

With its official announcement reportedly just days away, we’ll soon have a clearer picture of how the Audemars Piguet CPO program will coexist with a secondary market that has long operated beyond the watchmaker’s direct control.

Stay tuned to Grey Market Magazine for updates.