There are a lot of benefits to purchasing a second hand Rolex and it is a great option for people who want that classic, expensive look to their watch. Keep reading to understand all of the reasons you might want to buy second hand the next time you are looking for a Rolex watch.
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It is Cheaper
The first and most enticing reason for buying a second hand Rolex watch is that it can be so much cheaper than getting a new one. Rolex is known for being a luxury brand and that means that their watches are going to have luxury prices attached to them. This makes Rolex too expensive for a lot of people, even if they do love the designs. If you are someone who loves the design of a specific Rolex watch, or just the general appearance of Rolex watches, you don’t have to break the bank to purchase one. Buying a second hand Rolex is definitely cheaper than buying a new one.
On average, a brand new Rolex watch can cost you anywhere from $7,000 to $12,000 MSRP. On the extreme ends of the spectrum there are some Rolex watches priced as low as $6,500 and some that are priced as high as $75,000 MSRP. This is quite a lot of money to spend on a watch. Even though Rolex watches are made from the highest quality materials and are crafted so that they will last for years and years, that is a lot of money for anybody to spend on a single watch.
When buying a Rolex that has been pre-owned, the prices are much cheaper than new Rolex watches. The average price for a used Rolex watch is anywhere from $3,000 to $5,000. There are some used Rolex watches for $1,500 as well as others that go for $13,000 or more. These averages are still significantly cheaper than new Rolex watch prices though.
Some second hand Rolex watches can actually end up being more expensive than some new Rolex watches, but it all comes down to the model of watch, the materials it is made out of, how much it is worth as a vintage or collector’s item, how much damage it has taken, and many other factors. More likely than not though, a second hand Rolex will be significantly cheaper than its brand new counterpart.
You Have More Options
The next benefit to buying your next Rolex second hand is that you actually have way more options when shopping than if you buy a new Rolex. This might seem counterintuitive, but it is actually a huge reason why people buy second hand Rolex watches instead of new ones.
Every year, Rolex releases new watch models that are better crafted, more modern, and more attractive than the models from previous years. To sell more of the new models of watches, which are more expensive than older watches, Rolex will discontinue previous lines of watches so that there is less competition. When you go online or into a Rolex store, there are only the past one or two seasons of new watches that are still available. This means that if you don’t particularly like any of the available designs, you don’t really have any other way to buy a new Rolex in a different year’s model.
Every year when Rolex releases their new watch models, the second hand Rolex market becomes more saturated than before. People who are shopping for a second hand Rolex have all of the previously discontinued models, vintage models, and outdated models available to them. You might not always be able to find a very specific model, but you have so many more options than just the models from the past year or two.
The variety of second hand Rolex watches that are available increases after the release of new models for another reason too. When new models of Rolex watches are released, some people who already have a Rolex prefer a new design over their current one. This means that they will often sell their pre-owned Rolex so they can afford a new one. This gives second hand Rolex shoppers more options as well.
They Depreciate Slower
New Rolex watches are worth an incredible amount of money. However, second hand Rolex watches are significantly cheaper than when they are new, even if they have only been worn a few times and have sustained no significant damage. This is because as soon as you take a new Rolex watch out of the box and wear it once or twice, the value of it goes down a ton because it is now “pre-owned”. If you were to sell that watch, it would sell for a lot less than when you bought it.
Why is this a benefit to buying a second hand Rolex? Well, when you buy a second hand Rolex, the value of that watch will depreciate a lot slower than a new one would. A new watch (even if it was only worn once or twice) can instantly depreciate by a couple thousand dollars. A second hand Rolex can be worn regularly, and if you sell it a year later, it will likely be worth about as much as you bought it for.
Second hand Rolex watches depreciate very slowly, so you know you can re-sell the watch for only a small loss a few years later instead of re-selling a new Rolex for a huge loss a couple of months later.
It Will Work for Years
Part of the reason a second hand Rolex watch depreciates so slowly is because Rolex watches don’t wear out after a year or two like most mass-produced watches do. Rolex watches are built to withstand time and be accurate for decades to come. When you buy a second hand Rolex, it will be very accurate and should continue to work for years and years if you take good care of it and it has not sustained internal damage.
When you buy a different brand of watch second hand, there is always a huge chance that it will stop working after a couple years, or even after a couple months. While you can get them fixed, that is an extra cost that you probably didn’t plan on paying.
When you buy a second hand Rolex watch that is in good condition, you can be assured that it will keep ticking for a long time. You likely will never have to take it to be fixed aside from things like a battery replacement every few years. Rolex watches are built to last, and they do, even when you get them pre-owned.
The Luxury of Specificity
To some, it may seem like when you buy a Rolex watch brand new, you have more control over the model of watch it is, and any other specifics that you are partial to. However, the opposite is actually true. As mentioned before, when buying Rolex watches brand new, you only have the options of the new year’s models, and maybe the models of the past year or two. When you buy second hand, you are able to be more specific about the model and style of watch you want.
When looking at second hand Rolex watches, you can have the specifics of the watch you want in mind while looking. As you shop, you will find a huge variety of options, and you can look for the specific details you want and bookmark those or keep them in mind. If you know of a very specific model that you want because you saw it years ago on a celebrity or in a movie, it won’t be available new through Rolex. However, you can look for that specific watch on a variety of websites and in a variety of stores. You have the luxury to be specific about what you want because it will be available second hand somewhere.
Some Older Models Appreciate
One of the greatest benefits of buying pre-owned Rolex watches is that some models appreciate over time. Here is why that is a benefit: If you are shopping for a second hand Rolex watch and you purchase a relatively old, cheap model, that model can actually appreciate over time.
Some people love to collect old Rolex watches and it can be difficult to find vintage Rolex watches for cheap prices. Instead, you might be able to find a Rolex that is old enough and purchase it while it is still cheap. As years go by, that watch can be worth a lot more than what you bought it for.
If you end up owning a watch that has appreciated in value, you have the option to sell it and make a profit off of it. If you do sell your vintage Rolex, you now have the money to buy a different second hand Rolex, or even a new Rolex watch if you like one of the new models. Making money off of the second hand Rolex that you purchase is not guaranteed, but it is always a possibility and it comes at no extra cost to you. The benefits of having a second hand Rolex that has appreciated are very obvious and that is another good reason to look for an older Rolex model. It could be an investment!
Vintage is Classy
We have mentioned a lot of financial benefits to purchasing a second hand Rolex watch, but there are aesthetic benefits to purchasing pre-owned Rolex watches as well. When you buy second hand Rolex watches, you have the option to buy a vintage Rolex watch. Rolex has been around for 116 years, so there are plenty of vintage options when looking for second hand watches.
All sorts of vintage products and fashions are very popular today, and that doesn’t stop at Rolex watches. Some people do not like the new versions of Rolex watches and they have a more vintage style in general. Purchasing a second hand Rolex watch is a great option when looking for a luxury vintage watch to add to your wardrobe. Classic writers like Hemingway preferred Rolexes. Even if you do not own a lot of vintage clothing or accessories, the vintage Rolex styles are very classic and will go well with a lot of different styles. You only have the option of vintage Rolex watches when you’re exploring second hand models.
Can Still Look Like New
When you purchase a new Rolex watch, part of the charm of it is how clean and polished it looks. This might deter some people from buying second hand Rolex watches for fear that they will be damaged, tarnished, or just in poor condition. However, this is not always the case. There are plenty of pre-owned Rolex watches that look like they are still brand new.
One way you can find a second hand Rolex watch that looks like new is by being very specific about the individual sellers you buy from. There are a lot of “like-new” Rolex watches that you can find from people online. Most sellers will clean and polish the Rolex that they are selling so that it will sell faster and the buyer will be more satisfied with the watch that they bought. If you are careful and specific about your searches, your second hand Rolex will look like it just came out of the store.
Another way to ensure the second hand Rolex you purchase will look newer than it actually is, is by shopping through second hand luxury jewelry sellers. There are a lot of second hand jewelers in practically every city, so it should not be too difficult to find one that has Rolex watches.
The great thing about buying from a jeweler is that they clean, polish, and even repair any watches that they sell. Buying from a second hand jeweler will give you a lot of like-new Rolex watches to choose from so your watch will look as luxurious as the day it was made.