Audemars Piguet will launch its own certified pre-owned program, allowing watch lovers to securely buy and sell unwanted timepieces.
While authorized dealers of APs exist, the watch creator is ready for its initiative, having more oversight over gently used watches. Last week, CEO François-Henry Bennahmias formally announced the program during a recruitment conference in Paris. Audemars has recruited Yoni Ben-Yehuda, head of watches at Material Good, to assist with the pre-owned program, further nurturing a relationship that goes back several years. Material Good operates licensed Audemars Piguet boutiques in Boston, Dallas, and East Hampton. Therefore, it’s no surprise that AP chose their long-running partner to head the project.
Bennahmias believes the CPO program will be a huge success, given the opportunity it presents for customers to obtain a famed Royal Oak AP. Due to supply issues, the production of the watch has slowed, making it the most sought-after product made by the company. Each timepiece will come with a more extensive authenticity guarantee to give buyers peace of mind.
Before COVID-19 shuttered several companies, Audemars Piguet launched a similar resale program, but the pandemic, mixed with criticism, caused the demise of this program. Nevertheless, AP has tweaked it and is not wasting any time rolling out its new and improved CPO. A test phase is expected towards the end of 2023.
Audemars Piguet is not the only luxury watch manufacturer to offer a CPO program. In December, Rolex shook up the industry with its in-house pre-owned line.