Audemars Piguet Certified Pre-Owned: A Dealer's View
Audemars Piguet launched The Watch Keepers, its own certified pre-owned platform. What sellers pay, who can use it and what it means for watch dealers.
By Dejan Zoric
4 min read
The short answer
On 26 October 2026 Audemars Piguet launched The Watch Keepers, a certified pre-owned platform it owns and runs, for AP watches more than two years past their first sale. Only verified individuals in the EU and Switzerland can trade, and sellers pay a 10 to 20% tiered commission. For dealers it adds an official price ceiling and a rival for private sellers, but it is too small and restricted to squeeze supply yet.
Key takeaways
- The Watch Keepers launched on 26 October 2026 and is owned and operated by Audemars Piguet.
- Only verified individuals in the EU and Switzerland can buy or sell; company accounts are planned, not live.
- Sellers pay 20% up to EUR 25,000, 15% to EUR 50,000 and 10% above, settled in euros.
- Watches must be more than two years past their original sale, so recent and unworn pieces stay with dealers.
On this page
Audemars Piguet now sells pre-owned AP watches itself. On 26 October 2026 it launched The Watch Keepers, a certified pre-owned platform that AP owns and operates.[1] [2] For dealers it is a new price reference and a rival for private sellers, but for now it is small and closed to most of the market.
The facts
- Model: consignment. The owner keeps title, ships the watch to an AP service centre, and AP authenticates, grades, photographs and lists it. The seller sets a fixed price or runs a bidding window with a reserve.[1] [3]
- Who can trade: verified individuals living in the EU or Switzerland only. Company accounts are planned but not live.[1]
- Seller commission: 20% up to EUR 25,000, 15% from EUR 25,001 to EUR 50,000 and 10% above, settled in euros.[1] Early trade reports gave the bands in Swiss francs; AP's own FAQ uses euros.[4]
- Size: about 100 watches listed at a time.[2] [3]
- Buyer gets: an AP certificate of authenticity, a two-year warranty and 14 days to return. AP's marketing company is the buyer's contract partner and acquires the watch from the seller once a price is agreed. The seller is paid within 15 days after the return window closes.[1]
This is not AP's first look at second-hand. In January 2018 Reuters reported that AP planned a pre-owned business after testing it in one Geneva boutique.[7] The Watch Keepers is the version with published terms, online, under AP's name.
How the eligibility rules work
A watch must be authentic and more than two years past its original date of sale. AP grades the case, dial and bracelet from 1 to 5, and each needs at least a 3 to list.[1] A preparation service is included in the commission, but if a watch needs a full service or other work to meet AP's standard, that has to happen before it lists, and damaged watches will most likely need servicing at the owner's cost.[1]
Watches with missing papers or accessories can still be accepted, and AP issues its own certificate and pouch.[1] AP also gives no price recommendation; the seller decides.[1]
The two-year rule is the one dealers should circle. It keeps recent and unworn AP off the platform entirely, which is the part of the market where grey dealers do most of their AP volume.
The commission math
Here is what AP's bands mean for the seller's net, calculated directly from the published schedule:[1]
| Sale price | AP commission | Effective rate | Seller nets |
|---|---|---|---|
| EUR 20,000 | EUR 4,000 | 20.0% | EUR 16,000 |
| EUR 40,000 | EUR 7,250 | 18.1% | EUR 32,750 |
| EUR 60,000 | EUR 9,750 | 16.3% | EUR 50,250 |
| EUR 100,000 | EUR 13,750 | 13.8% | EUR 86,250 |
The bands favour expensive watches. On the steel Royal Oaks and Codes that make up most dealer AP volume, the owner gives up close to a fifth of the price. Then there is time: AP says a watch can be ready to list in as little as three weeks if no major work is needed, then it has to sell, clear a 14-day return window and pay out within 15 days.[1]
How it compares with Rolex CPO
Rolex launched its CPO program on 1 December 2022 through Official Rolex Retailers, who source their own stock and set their own prices.[8] Two results stand out. The certified premium stuck: about 25% over comparable non-certified watches in June 2023, and +25.9% in the WatchCharts and Morgan Stanley report covering 2025.[6] [5] And it grew, with estimated sales above $500 million in 2025, up from $300 million in 2024, according to that report.[5]
With Rolex, a retailer buys the watch and puts its own price on it. With AP, the owner sets the price and AP is the counterparty. If a reference clears low on AP's own platform, there is no retailer between the brand and the number.
What it means for dealers
Price under AP's ceiling
My read is that AP-certified asks will sit above dealer prices, as certified Rolex does. Sellers who pay 15 to 20% have every reason to set asks that recover it. That gives your clients a visible upper reference. Track what comparable references ask on the platform, then price your stock clearly below it and explain the gap: same watch, no commission baked in, faster delivery, and your own warranty if you offer one.
Source from private sellers before AP does
The owners AP is chasing are the ones dealers want: people with a two-plus-year-old AP who care about the outcome. Many will not want to ship a watch away, wait weeks and give up a fifth of the price. Be the first call before they register.
How to pitch a seller against AP's take
Lead with the net, not the headline. Put AP's commission table next to your offer and your payment date. A seller comparing EUR 32,750 in a few months against a firm offer paid this week is making a time-and-certainty decision. Don't knock AP's process; win the seller who wants speed.
In four years of dealing, I learned that the seller who wants the top number and the seller who wants the money fast are rarely the same person. Work out which one you're talking to before you make an offer.
Watch for company accounts: if AP opens the platform to dealers, it becomes a channel. Until then, outside Europe it is not a competitor at all. If you take AP on consignment yourself, compare your terms with AP's in watch consignment.
AP has put its own name on the secondary price, and dealers should price with that in mind. Dealers tracking AP can apply for access.
Questions dealers ask
What does it cost to sell on Audemars Piguet's The Watch Keepers?
AP's FAQ lists a non-negotiable seller commission of 20% on the portion up to EUR 25,000, 15% from EUR 25,001 to EUR 50,000 and 10% above EUR 50,000. Buyers pay no extra fee.
Can watch dealers sell on The Watch Keepers?
Not as of November 2026. AP's FAQ says the platform is open to individuals only, with company registration planned.
How is AP's certified pre-owned program different from Rolex CPO?
Rolex CPO, launched on 1 December 2022, runs through Official Rolex Retailers that buy their own stock and set their own prices. AP runs The Watch Keepers itself as a consignment platform: the owner sets the price and AP authenticates, grades, lists and stores the watch, then acts as the buyer's contract partner.
Which Audemars Piguet watches qualify for certified pre-owned?
Authentic AP watches more than two years past their original date of sale that pass AP's authenticity, function and condition checks, with at least a 3 out of 5 grade for case, dial and bracelet.
