Table of Contents:
- Buying Rolex Watches – New vs. Pre-Owned
- Why Buy Pre-Owned or Used Rolex?
- The Same Watch for Less Money
- More Watch for the Same Money
- Certified Pre-Owned
- Why Not Buy Used?
- Share Your Experiences in Buying a New or Used Rolex!
- Rolex: Is bigger better?
Buying Rolex Watches – New vs. Pre-Owned
In today’s Rolex watch market, there are so many options it may get a bit overwhelming. Not only are there a wide variety of amazing models to choose from, one must carefully weigh between buying new and used Rolex. Without a doubt, it’s always fun to purchase a brand new toy and be the first to wear it with pride. But is paying nearly two times as much for a new Rolex worth the thrill!?
Of course there are some who will answer a definite “yes the thrill is definitely worth it,” even if it’s the most expensive Rolex.Others may see the benefit of purchasing less expensive, used (but still oh so beautiful) goods.
What has your experience been? Have you bought new and wished that you would have bought used, or vice-versa?
Why Buy Pre-Owned or Used Rolex?
Buying a new Rolex watch is much like buying a new car. The minute you walk off the lot (i.e. out of the store), its value depreciates by 30 percent or more. The beauty of buying a pre-owned Rolex watch is that its value barely (if not at all) falls. Used Rolex hold their value and may even rise as precious metals prices increase over time. In the case that a particular Rolex model becomes a collector’s item, its value may even sky rocket!
As you read, you may still be skeptical about buying used goods. You may fear that a used Rolex may be a knockoff, be defective or not include its original parts. These are all valid arguments – however, leading pre-owned Rolex specialists take tons of time to assess each and every Rolex they purchase. You can even demand a used Rolex with its original box, certificate of authenticity and original parts. You’re the boss and will find exactly what you’re looking for.
For those of you who have bought used, do you any tips that you would like to share with those on the fence about buying a pre-owned Rolex?
The Same Watch for Less Money
Let’s say you set out on a trek for your dream Rolex watch. You travel from shop to shop in search of a brand new Rolex. At the fifth shop you’ve traveled to, you find IT! After trying the watch on and staring at yourself in the mirror for a few minutes, you pull out your wallet – more than willing to pay full price. The dealer swipes your credit card. You feel a bit nervous knowing that you’ve just spent $10,000 for your new Rolex.
Fast forward a few weeks later, and you find yourself at a business dinner. You notice that your colleague has the same exact watch! You begin chatting about how much you love Rolex and what a coincidence it is you have the same watch. At some point in the conversation, he or she reveals that they bought their Rolex watch used. You get the guts to ask how much the watch cost…the room starts spinning when you find the price tag was $6000 instead of $10,000! You’re heart beats double time as you think of what you could have done with $4000 more in your bank account.
This story is more common than you know. It’s possible to save thousands of dollars on the exact same Rolex, while having enough leftover cash to enjoy a week-long vacation to Hawaii!
If you’ve already set aside a certain amount of money for a new Rolex and find the exact watch used for thousands less, what will you do with the cash you have left over? We’d love to hear your ideas!
More Watch for the Same Money
Let’s take it a step further! Say you bought your used Rolex for $10,000 and you’re enjoying a cocktail with a friend one evening. He or she pulls their sleeve up to get a glimpse of the time. You notice that upon their wrist is a BEAUTIFUL Rolex that is a couple steps above your own. You’ve had a couple cocktails and are brave enough to ask how much they paid for their Rolex. Again, the room spins when they tell they paid only $10,000! You ask how he or she got such an amazing deal on a much nicer watch than yours – they tell you they bought used.
This scenario is also all too common. One can get much more watch for their money when purchasing a pre-owned Rolex. Instead of wearing a high-end new Rolex Datejust, you may find yourself sporting a flawless used Rolex President for the same amount of cash!
The secret when shopping for a used Rolex is to shoot for the stars. If you could have any Rolex model (regardless of price), which would you want? You may be surprised to find yourself wearing your dream watch by finding the right deal on a pre-owned Rolex.
Certified Pre-Owned
You’ve probably heard this term several times and wondered what it exactly means. In the case of used Rolex watches, it means a watch is a 100% Authentic Rolex, in perfect working order. Before even browsing a dealer’s used inventory, ask if their watches are certified. Run the other way if the answer is a resounding “no.” Always make sure that your pre-owned Rolex comes with a Certificate of Authenticity and serial numbers.
Why Not Buy Used?
Some consider buying anything used a risk that isn’t worth taking. There is validity to this line of thought, as some used items may not have warranties, be defective, and contain replacement parts. What are your hang-ups about buying used? Feel free to share or ask questions.
Whatever your decision, be a smart shopper. Find the right deal, within your budget. Also, know that you can find near flawless used Rolex and save. The secret to success is shopping until you find the perfect pre-owned Rolex. In today’s economy, it is very possible to discover a used Rolex that is like new – with all original parts, warranty and Certificate of Authenticity. By daring to purchase used, you will be amazed at how much you can save.
Have you bought a new or used Rolex recently? We invite you to share your experience in an effort to guide others to make an educated decision. Please comment below, and also feel free to ask questions and one of our Rolex specialists will respond promptly.
Rolex: Is bigger better?
When you work with hundreds used Rolex watches on a daily basis, you can’t help but notice trends and spotting what’s hot and what’s not. Although we consider ourselves “Rolex Experts” at Bob’s Watches, it’s almost impossible to predict what the used Rolex watch buyer will want 2, 6, or a year from now because the fact remains, so much is changing in the Rolex world. The biggest change that we are seeing- that is completely affecting the buy and sell market of used Rolex watches is the size of the new Rolex models! So here is the “great debate”: Do you prefer the new larger Rolex’s to the older serial number Rolex’s?
The best example of this drastic change is the Deep-Sea Dweller 116660. The newer Dweller is much thicker then any other Sea Dweller, and we get a split opinion… some people LOVE the new height and weight of the new Deep Sea-Dweller Lug, and others are disappointed that the change was so large. The same thing goes with the new Submariner. Bob’s Watches gets flooded with calls about older the used Submariner model watches (specifically the Z serial, and the new Oyster Bracelet with the 18k gold through the buckle), because a great deal of people prefer the old Submariner vs. new Rolex Submariners. This is the response we get, but it’s also a fact that right now, bigger watches are a huge fashion trend, especially for woman. Walk down the streets of Paris or Milan and spot a beautiful fashionsta sporting a Men’s DateJust or President. The good news? Rolex wearers always trading up, getting newer models and selling their pre-owned Rolex watches to Bob’s Watches! So hopefully we can feed your Rolex appetite with the classic Rolex’s that has won so many hearts.
We want to hear what you think! Do you think bigger is better when it comes to Rolex? Or do you prefer the smaller Rolex Watch? Let us know on Facebook or Twitter right now!
FAQs
Does it make sense to buy a used Rolex? ›
Compared to many other watch brands, Rolex watches tend to retain a lot of their value even after use. Nevertheless, the price of a used Rolex is significantly cheaper than buying brand new, which allows more people to afford a Rolex and buy a more extravagant watch rather than an entry-level model.
Why are used Rolexes more than new? ›Availability. One of the biggest factors responsible for used Rolex watches costing more than their brand-new counterparts is the simple fact that most of Rolex's top models are entirely sold out at retailers. It might sound crazy, but you can't simply walk into a Rolex store and buy the watch you want.
How do you evaluate a used Rolex? ›- Does it have box and papers?
- Are you buying it from a reputable source?
- What is the condition of the watch?
- Have any parts been replaced over time or are they original?
- Has it had a service or is it due one?
- Is it a fair price?
Steel has a high market value
Rolex watches made from steel have the highest market value increase over time. Some argue that even if the demand for the watch disappears, you still have the precious value of the metal.
There's nothing wrong with purchasing a pre-owned or vintage Rolex watch, as these timepieces will survive for decades.
Does a Rolex lose value if worn? ›The materials that make a Rolex, like Oystersteel and crystal, are designed for longevity, but a pre-owned watch's condition is a key factor in its value. An unused watch will generally sell for more than a used watch, and visible wear-and-tear will certainly take some value off your watch.
How long is Rolex waiting list? ›To buy a Rolex Daytona, the waitlist is often suggested to be 5 or 10 years long. The harsh reality is that unless you have a large spending history with your Authorised Rolex dealer you're unlikely to ever be offered a Rolex Daytona.
Are old Rolex watches better? ›For the most part, buying vintage will save you a significant amount of money, but that by no means extends to every watch, and sometimes it is the oldest, most worn vintage Rolex references that command the highest prices. Both vintage Rolex watches and their new counterparts are very reliable.
Is the older the Rolex the better? ›Vintage Rolexes are almost a fail safe when it comes to Rolex watches to invest in. Their value often increases over time making them a good investment. This is because there is only a limited number of them available, making them more desirable to collectors and watch enthusiasts.
How much does it cost to get a Rolex appraised? ›First, it is essential to know that appraisals should never be charged based on the total value of the item. Instead, prices should be set either per item or hourly. Typically, you can expect to pay between $50-$75 per item or $50-$150 hourly.
What is the markup on a used Rolex? ›
The Rolex markup differs depending on the country
According to the New York Times, the margin that most Rolex retailers have when they sell a Rolex watch is 40%. Sometimes, the margin is higher, and sometimes it is lower. Note that this is the retail markup.
With the serial number, Rolex can identify which AD sold that watch and can in turn contact them, informing them that one of their customers is selling their watch. When the retailer finds out about this, they will likely blacklist you.
Which Rolex does not lose value? ›In the vintage Rolex market, a well kept and rare Submariner or GMT reference is worth a tremendous amount compared to how much it was sold for at retail price. A worn in unserviced Datejust might not be as desired as a pristine vintage model from the same year in great condition.
Which Rolex will be discontinued 2023? ›Not much of a surprise here, but Rolex has bid farewell to the Cellini collection in 2023. The last remaining model of the Cellini collection was the Moonpase ref. 50535, which has now been discontinued in 2023.
Who is Rolex main competitor? ›Rolex's alternatives and competitors. See how Rolex compares to similar products. Rolex's top competitors include Breitling, Jaeger-LeCoultre, and Chopard. Breitling specializes in the development and manufacturing of watches.
What is the lifespan of a Rolex watch? ›Most Rolex watches would last a lifetime and can even be passed down generations if they have been cared for properly. A Rolex can function for 15 years or more if they have not been serviced and is in good condition. Rolex recommends ten years between services; however, you could service them every five years.
What age group does Rolex target? ›Target Customer Markets
The main customers of Rolex are consumers of age older than 35. The company primarily targets wealthy individuals that value quality and want to showcase their capital by wearing a luxury watch.
It is recommended to service your Rolex approximately every 10 years depending on the model and real-life usage.
Are discontinued Rolex worth more? ›After models are removed from the catalogue, Rolex watches typically increase in value significantly. Investors frequently purchase models that are believed to be discontinued in the hopes of reaping huge returns in a short amount of time.
Is it OK to wear a Rolex everyday? ›Rolex is a tool watch. That is how they made their name. It is totally appropriate to wear it every day, or as often as you wish. It is meant to stand up to everyday use.
What Rolex is the best investment? ›
- Rolex Day Date.
- Rolex Submariner.
- Rolex Yacht-Master.
- Rolex GMT Master.
- Rolex Daytona.
Walk into any authorized Rolex dealer, and you're going to see a lot of Datejusts, Day-Dates, Oyster Perpetuals, perhaps a Milgaus, maybe an Air-King, and usually a fresh batch of Cellini dress watches in a wide range of sizes and colors.
Why is it so hard to buy a new Rolex? ›Clearly, divergent supply and demand is what's driving the scarcity of Rolexes available for purchase. Demand is astronomically high, and even a supply of one million new watches per year can't meet it. It comes down to a numbers game, and there's no sign that this will be changing any time soon.
How to bypass Rolex waiting list? ›- Dress smart when visiting the Rolex authorised dealer.
- Be personable and nice with the Rolex authorised dealer.
- Build a genuine relationship with the Rolex authorised dealer.
- Be knowledgable about Rolex.
- Go into the Rolex authorised dealer wearing a Rolex.
Rarity: Low Supply and High Demand Means the Best Value for Your Vintage Rolex Can Be Had Now. While there were many Rolexes made during those years, not all have survived. Many others are in collections and rarely come to be sold again. Yet others are being worn every day as just a nice old beater.
Should I wear my new Rolex? ›Wearing the watch for the first time
Before being worn for the first time, or if it has stopped, a Rolex watch must be wound manually in order to function correctly and precisely.
In the early 1970s, the 18kt Rolex Submariner was introduced and could be purchased for $230, or $1,422 when adjusted for inflation. The stainless steel Submariner with a date had a price of $385, or $2,080 with inflation.
Is there a better brand than Rolex? ›Patek Philippe
They have since become one of the world's most respected watch brands, known for its impeccable craftsmanship, exclusivity, and elegant designs. Patek often costs more than Rolex on the retail level, but both companies are innovative and offer the highest quality available on the market.
The year that your Rolex was produced plays a significant role in the overall value of your watch. Additionally, knowing the year of production will go a long way towards helping you verify whether or not a watch's components are correct for its reference.
Can I sell my Rolex to jeweler? ›Jewelers (local or online):
This is by far the best option for selling a pre owned Rolex watch. With that being said, make sure that the jeweler/jewelry store is trustworthy and reputable.
How much value does a Rolex lose without box and papers? ›
The resale value of a Rolex watch without its box and papers can decrease by 10% to 30%, depending on the model, condition, and market demand.
How much do Rolex salesman make? ›| Annual Salary | Monthly Pay | |
|---|---|---|
| Top Earners | $100,000 | $8,333 |
| 75th Percentile | $93,500 | $7,791 |
| Average | $78,668 | $6,555 |
| 25th Percentile | $58,000 | $4,833 |
Rolex offers the opportunity to purchase previously worn timepieces that are certified as authentic and guaranteed by the brand.
Are Rolex dealers allowed to charge over MSRP? ›The short answer is yes, a Rolex AD can charge more than the retail price. And as a matter of fact, with the current situation of the Rolex market, there have been plenty of reports that some do.
Can I sell my Rolex without papers? ›An official Rolex remains an incredible timepiece and will still appeal to buyers without the papers. As such, you can sell a Rolex without the guarantee card. While the absence of a guarantee card will likely reduce the watch's value, the impact might be more negligible than you think.
Will Rolex service a watch without papers? ›Yes, you can get your authentic Rolex watch serviced without your original papers. Losing your original paperwork is not a rare occurrence at all. Rolex will still service your watch but needs a little more information first if you can't simply hand over your green guarantee card.
Why won t Rolex sell me a watch? ›Here are some of the most common reasons why Rolex may refuse to sell you a watch: If the watch is for “display only” If the watch is a popular model that the store wants to keep for “VIP” customers. If they suspect that you will flip/sell the watch.
What is the cheapest genuine Rolex model? ›Any Air-King, Datejust, or Explorer on our list are fantastic choices if you're looking for a cheap Rolex watch. Still, a popular opinion among many Rolex enthusiasts is that the Air-King is the best affordable Rolex.
What is the least produced Rolex model? ›Rolex Milgauss: The least popular Rolex? Watch fans have been speculating about the discontinuation of the Rolex Milgauss for two years now, but there it is, in the Rolex catalog. I'm honestly surprised it's still around because the Milgauss is probably the least popular Rolex model in its current form.
Do Datejusts hold value? ›The short answer to this popular question is yes – nearly every Rolex will hold its value over time. The reverence and exclusivity of the brand coupled with exceptional quality guarantees that most Rolex watches will stand the test of time in terms of performance and style – and the Datejust is absolutely no exception.
What watches will increase in value 2023? ›
The easy answer: Rolex, Patek Philippe, Audemars Piguet, and popular independents such as F.P. Journe and Akrivia. The vaguer answer: Watches of good investment value can be found across the full spectrum, from Swatch and Seiko to the upper echelons of masters like Philippe Dufour and Roger W.
Will a Rolex last 100 years? ›So how long does a Rolex last? The answer is that if it is properly serviced when it needs it, it will last forever. If you do not do anything with your watch, but simply use it, your Rolex watch will most likely be in working order for ten years fifteen years, twenty years, or even longer.
Will Rolex ever be available again? ›That could be as early as around 2025 when the first temporary factories will be in operation. The good news, though, is that there are signs that peak Rolex scarcity has already passed. The highest secondhand prices have started to come down and new watches are, anecdotally, a little more available.
Who is the largest Rolex dealer in USA? ›Long's in Boston currently believes its 4,600 square foot Rolex store on Newbury Street in Boston is the largest standalone boutique in the United States.
Which Rolex is most in demand? ›The most commonly sought-after Rolex watches include Rolex Daytona, GMT-Master(II), Submariner, and Sea-Dweller.
What Rolex sells for the most? ›Paul Newman's Rolex Daytona is the most expensive Rolex watch ever sold. Photo by Phillips. Paul Newman's Rolex Daytona is not only the most expensive Rolex ever sold, but it's also the most expensive watch ever sold in the world.
Does a used Rolex appreciate in value? ›You may be happy to learn that, generally speaking, yes, a Rolex watch will hold its value or increase in value over time.
Does Rolex know if you resell? ›With the serial number, Rolex can identify which AD sold that watch and can in turn contact them, informing them that one of their customers is selling their watch.
Are older Rolexes worth more? ›The value of your vintage Rolex will increase if it has its original dial, movement, or bezel. Many are under the mistaken belief that if they overhaul their old watch with new parts it adds value.
Does a Rolex Datejust hold its value? ›The short answer to this popular question is yes – nearly every Rolex will hold its value over time. The reverence and exclusivity of the brand coupled with exceptional quality guarantees that most Rolex watches will stand the test of time in terms of performance and style – and the Datejust is absolutely no exception.
How do you know if a Rolex is a good investment? ›
As with any luxury watch brand, some Rolexes hold their value better than others. Some of the best models to invest in include Daytona, Day-Date with the President bracelet, Milgauss and Submariner. These are some of the most popular watches in the world and they tend to hold and increase in value incredibly well.
Can you sell a Rolex without certificate? ›An official Rolex remains an incredible timepiece and will still appeal to buyers without the papers. As such, you can sell a Rolex without the guarantee card. While the absence of a guarantee card will likely reduce the watch's value, the impact might be more negligible than you think.
How many years do Rolex watches last? ›Most Rolex watches would last a lifetime and can even be passed down generations if they have been cared for properly. A Rolex can function for 15 years or more if they have not been serviced and is in good condition. Rolex recommends ten years between services; however, you could service them every five years.
How many years does a Rolex last? ›It is recommended to service your Rolex approximately every 10 years depending on the model and real-life usage.
Can a Rolex last 50 years? ›If properly maintained, a Rolex watch will last a lifetime.
Should I service Rolex before selling? ›Servicing your Rolex is a very good investment, not only to keep it telling accurate time and looking great, but also so that if the day comes when you want to sell, you can get the maximum value for it.