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Should I Buy a Pre-owned Rolex or a New Rolex?

Buy Pre-owned or New Rolex Watch, New or Used Rolex, Preowned or new rolex watches, new vs used rolexLet’s begin with the elephant in the room, or should I say blog, the price of the watch. You have probably already discovered that there is a significant price difference between purchasing a new Rolex versus a pre-owned Rolex. Rolex dealers who sell the watches at full price typically have a mark up of around 35 to 40%. Just like a new luxury car that is driven off the car lot, it looses approximately a 1/3rd of its value, buying a new watch will follow a very similar pattern. Once a new Porsche is driven or Rolex is worn, the retail value cannot be recouped. Many people want to have that experience, which is perfectly fine, but for the individual who wants to think about how they will make their hard-earned dollars work for them, there is no better way than buying a pre-owned watch.

Rolex Showroom

You may be thinking, well I want the latest model or can’t you tell that I am buying an older watch? The thing is that Rolex maintains a very consistent lineup of watches that are rarely modified. Rolex, as a company, likes to play it safe and they have a product that sells exceptionally well. Two of the best selling watches in history are the Men’s Rolex Stainless Steel Silver Dial Datejust and the Men’s Rolex Champagne Dial President. These watches have not had any of their features changed in years. So, when compared to the same modern model being sold today as was sold in the 1970’s, one will find that the two watches look nearly identical.

Most retailers look over pre-owned watches thoroughly before they are sold. They will lubricate the movement and replace worn parts before the new owner puts the watch on their wrist. In comparison, if you buy a watch from an individual seller you run the risk of not thoroughly knowing what you are paying for and, more times than not, you will receive a watch that needs work or servicing. The benefit of purchasing a used watch from a retailer rather than an individual is that the watch will be fully serviced, where the entire movement will be overhauled and all scratches or dents will be removed from the watch before you receive it. Retailers will even throw in a warranty that will guarantee the watch works perfectly and if it doesn’t you have a fall back plan. Retailers have a reputation to live up to and they want to see you satisfied rather than stuck with a piece of junk.

Karma Over Madoff’s 17 Rolexes at Auction

by plug-u

This was less like an auction and more like a seven-car garage sale.
The spoils and other superfluous purchases of Bernard L. Madoff, the notorious Ponzi schemer, were on the blocks at the United States Marshals Service Jewelry auction on Saturday at the New York Sheraton Hotel and Towers.
By the time Lot 196 was cried at 1:57 p.m.— a yellow-gold charm bracelet that was the first of hundreds of items seized from Mr. Madoff’s three houses — there were about 500 people sitting in a cavernous blue-carpeted ballroom, and another 1,000 people registered online

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