高端腕表市场降温，行情坚挺的劳力士也开始做出改变。根据全球二手腕表交易平台WatchCharts的数据，2025 年，劳力士中古表认证计划的销售额将超过5亿美元。 在GPHG日内瓦钟表大赏评委林北看来，官方开展二手业务有助于二手表的规范化，比如保值率、什么品相什么 价格，官方进行了量化。"这是很有意义的事情，相当于二级市场的议价权从民间重新回归官方。"他告诉第一财 经。 劳力士正式在中国内地推出官方二手表认证业务，通过指定经销商销售经翻新和质保的中古表，旨在规范二级市 场、提升透明度并反哺一手表销售。 新年伊始，劳力士官方二手表业务正式引入中国内地市场，在南京德基广场店开售。 本周，劳力士宣布在中国内地推出劳力士中古表认证（Rolex Certified Pre-Owned）计划，首个专卖店由东方表行 运营，消费者可通过表行官方微信小程序预约参观。 2022年底，劳力士首次推出中古表认证计划，在特约零售商渠道销售劳力士认证的二手表，并享有两年质保。该 业务起初在瑞士启动，随后拓展至全球主要市场，2024年10月进入中国香港时，合作伙伴也是东方表行。 价格高15% 根据摩根士丹利联合Luxe Consult去年 ...

Core Viewpoint - The luxury watch market, particularly for Rolex, is experiencing a significant decline in second-hand prices, indicating a broader systemic crisis in the luxury goods industry [2][3][4]. Group 1: Market Trends - Rolex's second-hand prices have plummeted from 1.2 million to 500,000, a drop of over 58% [2]. - Other luxury watch brands like Patek Philippe and Audemars Piguet have also seen price declines of 6.5% and 7.4% respectively [3]. - The luxury goods sector is facing challenges, with Kering Group's revenue dropping by 15% in 2023 and Prada reducing the price of its classic nylon bags by 20% [3]. Group 2: Supply and Demand Dynamics - The primary reason for the collapse in the second-hand market is Rolex's mismanagement of supply and demand, which has eroded the perceived value of its watches as investment items [5][6]. - Rolex increased its annual production from 1 million to 1.24 million watches in 2022, leading to a significant reduction in the exclusivity that previously supported high prices [7]. - The introduction of officially certified refurbished Rolex watches has further disrupted the second-hand market by providing consumers with a safer purchasing option, thus diminishing the expected scarcity [8]. Group 3: Consumer Behavior and Economic Factors - The luxury market is witnessing a shift in consumer behavior, with middle-class consumers moving towards practicality and value for money, leading to a decline in luxury spending [11][14]. - High net-worth individuals are increasingly favoring gold as a more stable investment compared to luxury watches, reflecting a broader trend of declining confidence in luxury goods as investment vehicles [9][13]. - The financial pressures of housing, education, and healthcare are forcing consumers to cut back on discretionary spending, contributing to the overall decline in luxury consumption [15]. Group 4: Future Directions for Luxury Brands - Luxury brands may need to pivot towards experiential consumption and technological integration to attract consumers, as evidenced by Moncler's successful experiential marketing strategies [21]. - The potential for "light luxury" products, which offer high-end technology at lower price points, could be a viable strategy for brands looking to expand their customer base [20]. - The luxury goods industry must find new value anchors, as the traditional notions of scarcity and financialization are being challenged by changing consumer perceptions [22][23].