Few luxury watch brands are as iconic as Rolex. With a long history of being the best watch brand in the industry, Rolex is regarded as a smart investment because it retains value even after many years of use.
Selling your Rolex watch might be an excellent solution if you want to upgrade to a new model or need money in a pinch. However, before you sell your Rolex watch, there are a few tips you need to be familiar with, such as the following:
- Check the Serial Number
The first thing to do when selling your Rolex is to determine your watch’s model or reference number. The model number is a 4 or 6 digit engraved into the side of the Rolex case.
If you have the right paperwork for the watch, you can get the number in the corresponding papers. The reference number of your watch will unveil a lot of information, including production date, movement, timepiece, and material, just to name a few.
- Know the Market Value
At times, owners of luxury watches place more value on the timepiece than it’s actually worth. However, it is essential to know that a Rolex watch’s real market value depends on the amount of money buyers want to pay. How much is a Rolex worth? You may Google your specific Rolex reference number to see other pre-owned watches for sale. This will give you a ballpark figure based on the current market.
- Look for a Good Dealer
If you’ve never sold a luxury watch before, there is a high chance that you may grade it improperly and provide incorrect information to buyers. At the same time, sites such as Craigslist and eBay may be a petri dish for scams.
Therefore, what you require instead is a trustworthy Rolex dealer with a pain-free process, clean layout, and a good history of online sales.
- Evaluate the Condition
Before you sell your Rolex watch, it is important to determine the timepiece’s wear and tear. The watch’s condition will have an impact on the overall value. Old watches in mint condition will fetch you a better price than a new Rolex in bad condition.
Though when selling a vintage Rolex, the condition plays an important role. Most potential buyers will consider the aging signs to determine its value. These signs may include original bracelets, tropical dials, and patina.
- Consider the Delivery Means
If you decide to sell your Rolex to an online dealer, it may be important to ensure that your watch remains safe throughout the transaction process. Try as much as possible to look for a dealer who will pay to have the watch insured and shipped through FedEx.
Insurance is important since it assures you that your watch will be safe during the shipping process.
Due to short-term financial needs, you may decide to sell your Rolex watch to raise money immediately. Though for individuals who aren’t educated, selling a luxury watch at a good price might be a challenging process. In addition to that, the second-hand market for Rolex is ripe with many counterfeit timepieces and dealers.
This is why it is hard to get a reliable dealer and buyer. However, tips like knowing about the reference number, value, good dealers, and delivery means will help you successfully sell your watch.