Is it worth buying a used Rolex?
Are you looking to buy a Rolex watch but are not sure whether you should buy a used Rolex or a new one?
There are two ways to go about buying a Rolex watch. You can either buy a watch from an authorized Rolex retailer. Authorized Rolex retailers receive brand-new watches directly from the Rolex factory, and activate the five-year warranty at the point of sale.
But why is it that so many people turn to the secondhand market to buy a Rolex watch rather than buying one brand new from an authorized retailer?
Today, the secondhand market for Rolex watches is huge. Here, you can find all types of different Rolex watches, because obviously, all the watches that are sold by authorized Rolex retailers eventually come out on the secondhand market.
So is it worth buying a used Rolex watch? Or should you buy a brand new Rolex watch from an official retailer, or perhaps a brand new one from the secondhand market?
Let’s find out in this article.
Is it worth buying a used Rolex?
There is one caveat to this question. This is because you can buy brand-new and never worn watches on the secondhand market. This means Rolex watches that are “like new” and in pristine condition. If you want your watch to be in perfect condition without any signs of wear, you can still find these watches on the secondhand market.
Here are some reasons that you may want to buy your Rolex watch from the secondhand market rather than an official retailer.
1. You have a larger selection
The first benefit of buying a Rolex watch on the secondhand market is that you have access to a significantly greater assortment of models. On the secondhand market, you can essentially buy any Rolex watch that has ever been made, whereas, from an official retailer, you can only find watches that are currently in production. This means that if you find a Rolex watch that you really like, but it turns out it is no longer in production, your only option is to turn to the secondhand market in order to find it.
On the secondhand market, you can find everything from rare vintage watches, to previous references no longer in production, and everything in between.
2. You can buy a Rolex watch when you want (there are no waiting lists)
The great benefit of the secondhand Rolex market is the fact that you buy a watch on your terms when you want it.
If you have set your eyes on a specific watch, and the official Rolex retailer does not have it, it may take weeks or sometimes months for them to order it for you. From the secondhand market, you can simply find a seller that has it available and get it within just a few days.
Another great benefit is the fact that if you buy a used Rolex (or a new one) on the secondhand market, there are no waiting lists. In recent years, different Rolex models have become so popular that the demand far exceeds the supply. This has led to waiting lists and long waiting times in order to be able to buy one of these pieces. It is not uncommon that customers are quoted a waiting time of several years for the most popular models.
On the secondhand market, there are no waiting lists. You can simply buy the most popular pieces as there will be plenty of them available. Just order and have it within a few days, rather than having to wait for years and years in order to get it.
3. It is often cheaper
The main reason why most people turn to the secondhand market is that it is often cheaper.
Like most things, most Rolex watches depreciate in value on the secondhand market. Now, there are exceptions to this rule, such as popular sports watches with long waiting lists, but overall, most Rolex watches tend to depreciate in value in the short term. In the long term, Rolex watches can increase in value, but by then, the model is often discontinued and cannot be bought new from an official retailer.
With that said, you will most of the time be able to pick up Rolex watches on the secondhand market for less than if you would buy them brand new from a retailer. This is particularly true if you buy a pre-owned watch and not a brand-new watch from the secondhand market, as the value then decreases further when a watch shows signs of wear.
By buying a used Rolex, you will simply get more bang for your buck, and perhaps be able to get your dream watch faster.
4. Rolex watches will last for generations
There is nothing wrong with buying a used or old Rolex watch as Rolex watches will last for generations.
With that said, you don’t need to buy a brand-new Rolex watch just to ensure that it will last for a long time. If looked after properly, and serviced when needed, a Rolex watch can last forever. This is also what makes Rolex watches so special on the secondhand market since you can find plenty of old vintage watches for sale at exorbitant prices which are still ticking and functioning perfectly well.
Rolex watches are built to last, with the most robust and durable materials, and shall you have any issues at all, a watchmaker can help make your watch function just like when new.
5. Pre-owned Rolex watches will depreciate slower in value
If you buy a Rolex watch on the secondhand market that has already depreciated in value from the recommended retail price, there is a greater chance that you will make a good deal on your Rolex watch. Pre-owned watches have already depreciated most of their depreciation from a new condition, which means you can wear it and enjoy it, while still not worrying about putting signs of wear on your watch that decreases its value.
Like all things, most Rolex watches depreciate the most when they are taken from being brand new and sold by an official retailer for the recommended retail price, to be sold at market price on the secondhand market.
Furthermore, when a watch is used and shows signs of wear, it decreases further in value, which means that if you buy a used Rolex watch, you can get it at an even better price than if you would buy an unworn or brand-new example.
6. You can buy collectible vintage Rolex watches
A benefit of buying used Rolex watches is that you can buy collectible vintage Rolex watches. Many vintage Rolex watches have proven to be great investments over time. The catch is that these vintage watches have been discontinued many years back and are getting increasingly difficult to find – in particular in a good condition.
Buying used Rolex watches allows you to find and buy collectible vintage watches that can prove to become great investments in the future, but also prove to be interesting pieces that are difficult to come by. For many watch collectors, it’s the hunt for the perfect Rolex watch that is the fun part. Not necessarily finding and wearing it.
Conclusion
As with everything, there are both benefits and negatives to buying a used Rolex. The main benefit of buying a used Rolex is that you can buy any model at any time. At an official retailer, you will get peace of mind and a great Rolex-buying experience, as well as a five-year warranty. On the secondhand market, you have a vast selection of Rolex watches which allows you to find the watch that you are looking for – regardless if it is vintage or new, or a current model.
The question is: is it worth the long waiting, or the premium, rather than buying pre-owned?
