Used Rolex Watches

Buying Used Rolex watches can be expensive, but also profitable. Rolex watches hold their value extremely well, so assuming you buy a nice genuine piece you can usually expect to get your money back should you decide to sell. Furthermore, some pre owned Rolex watches are actually worth more than their current retail price, this is due to waiting lists on some new Rolex watches running to two or three years.

Waiting times on Rolex watches vary depending on the model and colour, specific colours on the Rolex Sub Mariner and Daytona are known to have waiting lists as long as two or three years. So, buying a used Rolex watch that is in demand may actually cost you more than a new one, and probably does not represent a good investment, as the value is driven up by current waiting times, as opposed to its long term residual value. However, rarity / scarcity vs demand on a longer term basis may remain on these watches, so they may prove a good investment, though personally I would be loathed to pay more than the new list price for a used piece!

Another serious consideration you must give when buying a used Rolex watch is whether the warranty is valid. Some dealers remove the original serial numbers from watches they sell at a discount online. Premium watch manufacturers apply rigid controls over how and where their watches are sold, and for what price. Many strictly prohibit online selling of their watches, so dealers who engage in this sometimes polish off the serial numbers (which are traceable to that given dealer). This means they are able to sell the watches online for less than the manufacturers minimum retail price without fear of losing their account with the retailer. It also means the customer can get a good deal... initially. The problem with these watches is that the warranty is void, so, if you take a watch with no serial number into an official dealer for servicing they will not accept / service the watch.

This does not apply to older used Rolex watches or vintage watches, but if the used Rolex watch you wish to purchase is only a couple of years old then this is something you need to be very careful of. Personally I would not buy any watch new or used that had the serial numbers removed as the provenance of the watch is compromised.

The other really serious issue with buying used Rolex watches is the number of fake or reproduction watches around. Most are quite easy to spot, but some are not. Some may even use some original components taken from broken watches, which are then mixed with counterfeit parts, so a reproduction case may contain an original Rolex movement. Alternatively two different broken models may be combined, so you have all original components, but from different watches which may actually be different product lines produced some years apart. Again, this will negatively impact on the value of the used watch in question.

If you are looking to buy or start collecting used Rolex watches you need to do everything you possibly can to protect yourself from fraud. Learn as much as you possibly can about the watch you are interested in. Find out when and where it was purchased, ask for copies of documentation to be forwarded to you. Try and check serial numbers on the watch to ensure it has not been stolen, and that details match those you have been provided by the seller. For this kind of information you will need the help of a registered dealer. They may also be able to help you with a valuation. Really though, there is no substitution for knowledge, you need to know your watch inside out and be absolutely sure you know what you are doing.

I have bought a few used premium watches and each time it was a nail biting experience, but fortunately both times I was happy with the product I received and got a good deal, but, it is not for the feint hearted, and is certainly not for anyone not prepared to put several hours into researching the watch they are about to buy.

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