Buying a Rolex watch isn’t as simple as walking into the store and picking one up! Here are all the things you need to know if you want to buy a Rolex. Read on!
Why is it so hard to buy a new Rolex?
Purchasing a new Rolex watch has its benefits, the fact is, you are limited to purchasing the Rolex models that are commercially available. When a range is redesigned, the piece you had your eyes set on will no longer be included.
Besides that, special edition versions are only available for a brief period. On the other hand, if you focus on the used market, you’ll notice a much larger range of Rolex models to select from, limited ones can be picked up at potentially higher than RRP.
Should I buy a used or new Rolex?
The first and most evident benefit of purchasing a pre-owned Rolex over a fresh one is the expense. A completely new Rolex watch can be a costly and intimidating purchase, particularly for first-time buyers, but purchasing a used watch can greatly decrease the initial investment in a majority of models.
In contrast to several other manufacturers, Rolex watches maintain a large portion of their worth even after use. Nonetheless, the expense of a pre-owned Rolex would be slightly lower than the cost of a new Rolex.
This enables more customers to purchase a Rolex and could also encourage you to purchase a more expensive watch rather than a basic model.
Why do used Rolex watches cost more than new?
The shift from new to used is the single most significant point of decline in value for a watch. As a consequence, when you acquire a completely new Rolex, the worth depreciates automatically, long before it has performed any of its functions or even had any scratches!
Pre-owned Rolex watches, on the other hand, drop in value much more gradually. In simple terms, if you do wish to sell your watch, you will recoup more of your initial investment.
Your used Rolex is likely to be worth about the same after a year of usage as it was before you purchased it. A fairly new Rolex, on the other hand, would be worth considerably less following one year of usage than it was before you purchased it.
In certain cases, the used Rolex that you buy can potentially increase in value over the years or decades, and there are a variety of explanations why this may occur. The watch model itself could be discontinued, rendering it even more limited, or modern technologies could convert an older model into a collector’s piece.
Many people consider used Rolex watches to be an outstanding purchase. If the model is marginally affected, the expense of repairing it may be negligible, but the gain in value may be high. Similarly, you will be allowed to make some changes to the watch in order to increase its worth.
Why is there a Rolex shortage?
Rolex maintains regulated development and profitability by steadily growing its supply each year, rather than quickly ramping up depending on consumer demands. Any professional seller hopes to be able to have the rare Rolex models in stock when the consumers need them because that would entail more customer satisfaction and more profits.
Watch manufacturers, on the other hand, who have significantly expanded demand to meet consumer interest are in a difficult position when the demand eventually decreases. As a result, suppliers and consumers had a challenging time before supply and demand were balanced.
Rolex’s long-term policy of measured expansion, on the other hand, has ensured that its watches maintain their worth exceptionally well, with no change in their strict quality management requirements. This has given reassurance to many who have purchased a Rolex watch through the years.
How many watches does Rolex make each year?
Approximately 1 million a year, but there is still high demand, resulting in long waiting lists.
What is the hardest Rolex model to buy?
When purchasing used, very limited or discontinued models such as the Hulk Submariner model are hard to find; however, when purchasing new, all models are extremely limited, especially the Daytona.
How long do I have to wait before buying a new Rolex?
Rolex has decided to decrease the production output for the bulk of their products in recent years, making much of the sporting watches almost difficult to purchase brand new from Rolex retailers. There will be a set of requirements that you must meet if you purchase a new Rolex from an approved dealer.
You would have to be a past client to even get on the waiting list, and you may have to purchase a gold/ bi-metal Rolex to get a stainless steel version. Even if you fulfil the dealer’s criteria, they would most definitely delay the warranty certificate for about a year, restricting the opportunity to obtain maximum benefit if you need to sell the watch within that span.
In general, purchasing a used Rolex watch does not come with these constraints and you would be able to pick any of the Rolex models you want from the commercial market.
If you’re looking to purchase a Rolex watch, you should do so from a reputed professional seller that deals in Rolex and other luxury watch brands. Good luck with your future purchases!