How Much Is My Pre-Owned Rolex Worth?
Whether you are trying to sell your Pre-Owned Rolex watch or buying pre-owned Rolex watches, the first question that will come to mind is “How much is my Pre-Owned Rolex worth?” When you want to part with a Pre-Owned Rolex watch you have to be sure that the trade or cash you get is fair and realistic. Of course, this is a very complicated question dependent on a variety of factors. Each one with a potentially significant effect on the price of the watch. Brand new watches are easy to value. Each model number can simply be sold at the exact same price, being that it is in perfect condition. This isn’t the case with a pre-owned Rolex watch. Watch owners may mistakenly believe their watches are worth a bit more than they think. They focus on how much they paid for the watch and sentimental value, rather than a true selling value. In this post we will look through some of the main factors that contribute to pre-owned Rolex watch pricing.
Find Your Serial & Reference Number
The most important and obvious factor affecting the selling price of your Pre-Owned Rolex watch is the model and serial number. If your watch is rare, the price goes up since the watch itself is harder to get. You can find the model number for your Pre-Owned Rolex watch at the watch lug at 12 o’clock, where the case and the bracelet come together. The serial number is engraved on the case at the exact same spot as the model number, except on the other side of the watch at 6 o’clock. The model number is important to the watch because it can tell you the year, material, and movement of the Pre-Owned Rolex watch, and the serial number is used to verify authenticity. Both are very important to know when valuing your Pre-Owned Rolex watch. Pre-Owned Rolex watches come with boxes and authentication papers (with serial numbers matching the case). However, many watch owners do not keep up with these. When enthusiasts are looking to buy a watch – they very much and overwhelmingly prefer a watch with original box and papers and would be willing to pay more for it.
Determining The Value Of Your Watch
When valuing any watch, the brand itself plays a significant role. Being that we are looking at Pre-Owned Rolex watches, there is little need to worry here. Pre-Owned Rolex watches have such a long and successful history of quality and precision timepieces that last for generations. They typically have a high resale value, compared to the rest of the industry. Most other watch brands do not have as strong of a resale value as those of Pre-Owned Rolex watches.
REMEMBER: THE MARKET CONTROLS THE VALUE
Just because your watch is a Pre-Owned Rolex, or is rare, that doesn’t mean it’ll sell at the price you are looking for. The market value is important to consider when valuing a Pre-Owned Rolex watch. The market value is the price that the current shopper would pay for that Pre-Owned Rolex. By researching recent watch sales, you can hopefully set an appropriate price for your pre-owned Rolex watch.
Another important factor in watch pricing is the material selection for the bracelet, dial and bezel. Platinum being the highest valued material, then gold, and then stainless steel. Bezels can range in materials from gold, platinum, titanium, to ceramic. Each of these materials has a different value. Dials can also range in materials and many can have diamonds.
It should go without saying that condition contributes heavily as well to the value of your Pre-Owned Rolex watch. What condition is it in? If there are very shallow scratches on the crystal, bracelet, bezel or case – they can sometimes be buffed out and not affect the price. If there are any more significant blemishes – this needs to be factored into the price. Bracelets can stretch, which can also decrease the value. If links are missing from the bracelet, the value goes down. How are the internal functions of the watch? It is important to evaluate the condition of the Pre-Owned Rolex watch movement.
Taking Care Of Your Watch
Pre-Owned 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 – never take anything for granted.
If you are interested in selling your Pre-Owned Rolex watch, you can submit a quote request to Precision Watches & Jewelry. We are happy to help!
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