Rolex is changing: what it means when you buy a Rolex timepiece in London

Rolex sold an estimated CHF 11 billion worth of watches in 2025, up 4% on the year, which accounts for about a third of the Swiss watch industry’s total sales. Only six Swiss brands, out of roughly 450, crossed CHF 1 billion at wholesale that year. Rolex is the largest of them by a wide margin.

Rolex is also changing, and most of the changes point the same way: tighter control over who sells its watches and who looks after them. At LBJ Watches, we handle Rolex, so we have been following all of this closely. From the collector’s side of the counter, here is what it means if you own, or want to own, a Rolex in London.

Rolex is about a third of Swiss watch value

The figures below are analyst estimates from Morgan Stanley and LuxeConsult. Rolex does not publish its own figures, so these should be treated as estimates.

The Swiss industry as a whole contracted for a second year running in 2025, with exports down 1.7% in value, and total Swiss watch units are about half their 2011 peak. Even so, Rolex grew while most of the market shrank. Cartier, in second place, holds about 9%.

Rolex’s London service centre has reportedly closed to the public

The most visible change for London owners is at 19 St James’s Square, the Rolex UK headquarters. The service centre inside has reportedly stopped taking watches from the public. One owner posting on a forum says they called recently, were told it is closed to the public and were directed to Watches of Switzerland on Old Bond Street. Meanwhile, Rolex’s own website still lists the centre as open by appointment, and Rolex has not announced a closure. So the public status remains unclear as of today.

Rolex has always kept servicing close to home. It does not supply spare parts to independent watchmakers, and cases only come through Rolex. A new case carries a new serial number, and that number ties a watch to its history. The cost is a choice: fewer places can perform a full Rolex service with official parts.

A magnetic marker could help verify watches

A patent application published on 18 June 2026 describes an invisible magnetic marker built into a watch. It gives the watch a distinctive magnetic signature that can be read from the outside, without opening the case or changing how it looks. The application says it could spot counterfeits, confirm that a component has passed a manufacturing step, and check conformity at final assembly or at a later service. These are application claims, not confirmed product features.

Rolex spent years making its movements more resistant to magnetism. Now it is patenting a method for using magnetism to identify one.

A patent application is no guarantee of a product. Even so, it does show the direction: authentication built into the watch rather than left to paperwork.

Rolex has moved into pre-owned and retail

The same push for control also shows in how Rolex handles pre-owned watches. Its Certified Pre-Owned programme launched at the end of 2022, and the partner network grew from 25 at the start of 2023 to 107 by the end of 2023. Then, in 2023, Rolex bought Bucherer, the world's largest Rolex retailer, with which Rolex had previously operated only a single shop in Geneva.

In fairness to Rolex, its CEO said in November 2025 that the company has no intention of expanding its retail network beyond Bucherer and Tourneau, and that authorised dealers remain the primary sales channel.

It is getting harder to buy a Rolex new

One industry tracker counts just over 1,300 authorised Rolex locations as of July 2026, down from more than 1,800 around the 2022 peak, and estimates that Rolex has been withdrawing authorised status from about one store a week, usually smaller ones. As a result, family jewellers and small independents with limited space or sales volume are the ones most at risk. Anyone who likes the old model of a local jeweller with a Rolex in the window will feel that loss, if that tracker’s figures are right.

Rolex is not the only brand doing this. Omega has expanded its own boutiques, and when it opened its first one in Sweden in November 2022, some existing retailers there lost their authorisation to sell Omega. Regulators have also taken an interest in Rolex: the French Competition Authority fined it €91 million in December 2023 for prohibiting its authorised dealers from selling online.

The waiting list is the part everyone knows about, and the picture there is mixed. Rolex publishes no official wait times, and the dealer decides which client gets each watch that comes in. In one 2026 survey of more than 1,400 buyer reports, the median wait was 1 to 3 months. The exceptions are the famous ones: a steel Daytona can still take one to five years for a new client, and the red-and-blue “Pepsi” GMT-Master II was discontinued in early 2026, which tightens supply of a much-loved reference.

What to check when you buy pre-owned

Buying new from an authorised dealer is slower and more selective than it used to be, so plenty of collectors are looking at pre-owned and unworn watches instead. We understand why. That said, it puts a lot of weight on the seller and the watch’s service history. With official parts so tightly held, a watch with non-original components can be hard to put right later. The one to hold onto has original parts and a clear service record.

Box, papers and photographs are a good start. They do not tell you what is inside the case.

At LBJ Watches, our master watchmakers inspect the movement to confirm every component is genuine and performing to manufacturer specification. Each watch is also screened against The Watch Register, the global database of lost and stolen timepieces, to confirm clear legal title. We verify serial numbers and, where available, original paperwork and service history. Every watch comes with a minimum 12-month warranty and a certificate of authenticity. Our authenticity and quality guarantee sets out the details.

Questions to ask any watch dealer

• Who has inspected the movement, and what did they find?

• Do the serial and reference numbers match the watch, and has it been checked against The Watch Register?

• Are the case, dial, bezel and bracelet original?

• What does the service history show, and is there paperwork to back it up?

• What warranty and certificate of authenticity come with the watch?

We ask ourselves the same questions on every watch that comes through the door.

Frequently asked questions

Is the Rolex Service Centre in London closed?

Reportedly, to the public. Several owners say the St James’s Square centre is no longer taking watches, although Rolex’s website still lists it as open by appointment. So check with Rolex or an authorised retailer before travelling.

Why is it harder to buy a new Rolex from an authorised dealer?

There are fewer dealers, and the dealer chooses who gets each watch. One tracker counts just over 1,300 authorised locations, down from more than 1,800, and Rolex publishes no wait times. So steel Daytona models remain the hardest to get.

What is the Rolex magnetic marker patent?

It is a patent application for an invisible magnetic marker inside a watch that could help verify authenticity. It is not yet a confirmed feature of any Rolex.

How do I know a pre-owned Rolex is genuine?

Buy from a dealer who inspects the movement, verifies serial numbers and paperwork, checks The Watch Register, and backs the watch with a certificate of authenticity and a warranty.

Buying a Rolex in London with LBJ Watches

Start with our Rolex collection. If the reference you are chasing is not listed, we enjoy a good hunt - tell us what you are after. Or, if you are thinking of selling, here is how we handle it.

Visit our showroom at 67-68 Hatton Garden, open Monday to Friday, 10:30 am to 5:30 pm, and on Saturdays by appointment. Call 0207 126 8398 to talk about watches, or get in touch to start your search