It comes as no surprise that Rolex watches remain one of the most popular luxury timepieces on the market. As they continue to rise in popularity, many also hold – if not appreciate in value – over time.
While plenty of people will tell you what to look out for when purchasing your first Rolex watch, what about when you decide to sell a Rolex on?
Here at LH Watch Trade, there are a number of steps we take when we consider purchasing a pre-owned timepiece. As the secondary market for luxury watches booms – now could be a great time to consider selling your Rolex watch.
How to sell a Rolex watch?
Before you enquire with a store about selling your Rolex, there are a few things you need to bear in mind for a smooth sales process.
1. Consider these factors
While plenty of Rolex watches will increase in value over time, there are a number of things you need to take into account. As well as the model and age of your Rolex, you should also consider the following when looking to sell your Rolex:
Condition
Given that it is a second-hand luxury watch, it’s important to be truthful and objective about the condition of your Rolex.
2. Find the reference number
If you’ve kept the paperwork of your watch in a safe place, finding the reference number will be a piece of cake. This is where you’ll find the reference number of your Rolex – but don’t worry, if it’s nowhere to be found, the reference number can also be identified on the watch itself.
Start by removing the bracelet, then look between the lugs on the 12 o’clock side of the case. If you’re not sure about snooping around, speak to your Rolex trader.
4. Find the serial number
You’ll also be able to find the serial number on the watch’s paperwork. If you no longer have the paperwork, then you’ll have to remove the watch’s bracelet. If you’re unsure about doing so, speak to your trader who can find the serial number for you.
5. Find the original box and papers
Many of us choose to keep the original box and papers with electricals and expensive items, so it’s no surprise that keeping the original documents and box from a Rolex watch is common practice. These “papers” typically include the warranty card, manual, receipt and even documentation of its service history. Having these details will usually get you a higher selling price, as well as assure the buyer/trader of the watch’s authenticity.
6. Do your research
It is always important to do your research and understand the difference between retail and resell price. While some Rolex watches will appreciate over time, the condition of your timepiece is also crucial to your return on investment.
Sell prices are, of course, always lower than buy prices. This is because any damage to the watch, however slight, will have to be repaired. Even if the watch is “like new”, it is no longer in fact new.
7. Find a reputable Rolex trader
It’s important to make sure that the company you are using is reputable! Here are a few things to look out for:
- Make sure the company you are using has a secure and comfortable location, when transactions are taking plaice on your expensive time piece you want to feel as relaxed as possible and enjoy the experience
- Be sure to check out for reviews! The best source for reviews is often TripAdvisor, but take a look at Google reviews also as every little helps when searching for positive feedback
- Contact them to arrange a conversation and see how keen they are to work a deal with you on your luxury watch, this will give you confidence in travelling into the showroom / store to see if you strike a deal, you like to see enthusiasm from both parties
- Have a price in mind, try to be fair with leaving a room for profit, bare in mind the Rolex trader will have to give warranty on this watch along with all the overheads of running an expensive company
- Build trust between you and your dealer, enjoyable / repeat custom is the goal for both of you in the long run, and makes future transactions even more smooth each time
Selling your Rolex watch to LH Watch Trade
Whether you give us a call or pop into our Portsmouth store, there are a number of questions we’ll ask – and checks we’ll carry out – when you enquire with us.
Stolen register checks/Photo ID
Rolex watches are an expensive item! So it comes as no surprise that these luxury timepieces are often stolen. When you go to sell your Rolex watch, we’ll check against the watch register to ensure your item hasn’t been reported lost, stolen or the subject of fraud.
We will also take photo ID when you look to sell your Rolex with us.
Check the movements of your Rolex
As well as understanding the external condition of your Rolex, alongside having the relevant paperwork in order, we’ll also check the movements of your Rolex.
This will allow us to gain greater insight into how its running, and give a more accurate price.
Ready to sell your Rolex?
And there we have it! With the information above, you’ll be well equipped to sell your Rolex with confidence and realistic expectations. If you’re ready to sell your Rolex, we’d love to help.
Our friendly team will guide you every step of the way, from selling your Rolex watch, to making your next vintage Rolex investment. Stop by our showroom, or get in touch today.
