If the time has run out for your Rolex watch, you might be wondering what to do with it. If you don’t have a new second home planned for your wrist companion, then you might want to consider selling it.
Considering that Rolex is one of the brands that retain their original value the best, it’s not a bad idea!
A pre-owned Rolex watch is almost as valuable as a new one depending on the condition. You don’t want an incorrect valuation on a high-end luxury item, but how do you avoid that?
All you need to do is identify the exact details of the watch to determine its worth. What should you be looking at to get an accurate valuation of your Rolex?
Crucial Details About Your Rolex Watch
Before the bell tolls for your watch, we’ll need to pin down the technical details first. As a luxury brand with decades of quality watches, there is a lot of variance in the different models.
By identifying the exact model, we can start with a baseline value. After that, we’ll look at the other price-affecting factors.
Reference Number
Think of Rolex’s reference number as a model or serial number. It’s something that identifies the characteristics unique to your specific watch. If you’ve discarded or lost the watch’s original documents, it can be a little tricky.
It is without a doubt the most necessary step of determining the value, though, so let’s get to it.
The first bit of information to arm yourself with is how the reference number looks. It’s a short number, ranging from 4 to 6 digits. Some models have “remakes,” modern re-sells containing a 1 in front of the number.
The second thing to know is where to find it. Pre-2005, the reference number is diamond engraved between the lugs. Finding it is as simple as removing the bracelet.
Be very careful not to damage anything if you do this yourself. Have a guide handy, or take it to a professional. The condition of the watch is essential to its value, and even the smallest of damages can affect resale.
If the watch reached manufacture after 2005, you’re going to want to look at the inner bezel. If it’s post-2008, the exact location will be at the 6 o’clock position.
Now that you’ve obtained the reference number for your Rolex watch model, you can start searching rough prices for the exact model.
Overall Health
How exactly do we get as close to “as new” for the sale of a used Rolex? Much of that is reliant on the condition.
If you are the only owner and you’ve kept it in perfect condition, then expect to get a great price! Is it scuffed, marked, or broken? You can still fetch a reasonable price, but you’ll need to have it valued by professionals.
The other damaging factor to the value can be whether it has replacement parts. Substitute parts that aren’t authentic Rolex will damage the value. We’ll get into the why of that in a moment.
Authenticity
On top of authentic parts, we shouldn’t skip the authenticity issue. Being one of the most popular and expensive brands, it’s understandable that there are plenty of fakes.
If you’ve inherited the Rolex from someone or bought it second-hand, you may have worries about it being genuine.
It might sound hard to gauge, but the first giveaway is the weight. Rolex’s durability is well-known, and a genuine Rolex will have some reliable-feeling heft to it.
Another giveaway is the cyclops lens displaying the date. Is it magnified? If it’s real, it should be.
Another one to keep an eye and ear out for is movement and sound. There shouldn’t be any untoward clicking or odd noises. Everything should be smooth and silent, a hallmark sign of Rolex quality.
Having the original box and all of the accompanying paperwork is ideal in guaranteeing authenticity. If you don’t have any of that, it’s worth contacting someone that knows how to identify the authenticity.
Why Rolex Are So Valuable
In addition to being high-end, one of the selling points is the materials used in Rolex production.
Quality steel and masterful design result in a beautiful, reliable watch. That reliability is something that only a few brands offer. In that respect, Rolex has done a fantastic job of marketing itself.
Supporting that backbone of reliability is the use of highly-valued decorative materials.
Material Value
The difference between the value of some models can be staggering. Despite the variation, one common theme is how they don’t depreciate.
The consistency is thanks to the quality steel that we’ve already mentioned. Only briefly touching on it would be doing the worth of a Rolex injustice, though. It’s such a large part of why they make such worthwhile investments.
Even luxury brands that may demand a heftier price can pale compared to Rolex’s longevity. That is thanks to Rolex’s “oyster steel.”
Rolex themselves consider it as valuable as the rose gold and platinum materials that often decorate their watches. The unique selling point is the longevity of the material.
Where other steel will begin to feel the effects of corrosion and wear, a Rolex will still shine brighter than ever. Even a well-kept used Rolex can keep that newly-bought glint with the correct care.
On top of the expensive decorative materials, it’s easy to see why investment is the perfect word to describe them.
Sell Your Rolex Today
Hopefully, you’ve been able to figure out how much your Rolex watch is worth. Now you know why it’s so valuable, too. Please remember, though, that markets go up and down all the time.
Just because it’s worth that much today, there’s no guarantee of what the price will look like tomorrow. If you don’t need your watch anymore, you should consider selling it immediately.
Finding yourself saying, “I want to sell my Rolex,” after reading this?
It might be a bittersweet parting, but it’ll go to a good home. If you want somebody to take it off your hands while giving you a fair estimation, check out GoldBuyersNearMe.com.