Whether you are selling your Rolex watch or you are in the market to purchase a pre-owned Rolex, the first thing you think is “How do I value a Rolex watch?” You want to make sure that the price you are setting (whether selling or purchasing), is fair and realistic. This can be a very complicated question to answer because it depends on so many different factors, each of which has a significant effect on the price. A brand new watch is much easier to value because each watch model number can be sold at the exact same price because they are all in perfect condition. However, this is not the case with a pre-owned Rolex watch. A watch owner may believe that his watch is worth a significant amount because he is focusing on how much he paid for the watch, as well as the sentimental value that is added to the watch. Here, we will take a look at some of the factors that contribute to the value of a used Rolex watch.
The brand of the watch plays a significant role in the value of the watch. Because Rolex has such a long and successful history of creating high-end watches that last for generations, Rolex watches typically have a fairly high resale value. Other watch brands do not have as strong of a resale value as those of Rolex watches.
Model & Serial Number
The most important, and maybe most obvious, factor affecting the value of a pre-owned Rolex watch is the model and serial number. The model number is located at the watch lug at 12 o’clock, right where the case and the bracelet meet. If the model number is to a rare watch, then the value of the watch will be higher since the availability of the watch is lower. The serial number is engraved on the case at the exact same spot as the model number, except for at 6 o’clock. The model number is important to the watch because tells the year, material, and movement of the Rolex watch. Each of these are very important to know when valuing a Rolex watch. Here are a few helpful tips to finding your model number.
The material of the bracelet, dial, and bezel all affect the price. Platinum is the highest valued brand, then gold, and then stainless steel. Bezels can range in materials from gold, to platinum, to titanium, to ceramic. Each of these materials has a different value. Dials can also range in materials and many can have diamonds.
Box & Papers
When purchasing a Rolex watch brand new, it comes with a box and authentication papers. However, many watch owners do not keep up with these. Oftentimes, when watch enthusiasts are looking to purchase a pre-owned Rolex watch, they prefer a watch with box and papers and would be willing to pay more for a watch with these items. A box provides watch owners with a way to store their watch and the papers help to authenticate the watch.
The market value is incredibly important to consider when determining the value of a pre-owned Rolex watch. The market value is essentially the price that the current market is willing to pay for that pre-owned Rolex watch. If a watch owner believes that his watch is worth a certain amount of money but is having issues selling it for that price, chances are that the market value of the Rolex watch is less than the owner’s perceived value of the Rolex watch. By researching recent watch sales, this can help you set the appropriate price for your pre-owned Rolex watch.
It goes without saying that condition obviously contributes to the value of a pre-owned Rolex watch. In what kind of condition is the exterior of this watch? If the crystal, bracelet, bezel, or case of this watch has a very shallow scratch, it can oftentimes be buffed out and will not affect the price. However, if any part of the watch has a deep, significant blemish, this needs to be factored into the value of the watch. Bracelets can often be stretched out, which could decrease the value of the Rolex watch. It is also important that the watch is made available with all of its links. If links are missing, the value of the watch should be decreased.
Also, it is important to evaluate the condition of the Rolex watch movement. Rolex watches are of the highest quality and are built to last for several generations. However, there are some watch owners that do not take good care of their watch. For example, if a watch owner failed to screw the crown back into the watch, there is a good chance that water, dust, and other particles entered into the watch, potentially corroding the watch movement.
Whether you are buying or selling a pre-owned Rolex watch, it is important to know how to value the Rolex watch to make sure that you are buying or selling the watch for the right amount.