Used Rolex Purchase

[jherm77]

I appreciate all the comments and suggestions. The passion behind the argument is the same in espresso, knife, food, and scuba diving forums I participate in. We all have our unique point of view and it's great to read a wide variety of it.

I started my journey down the watch AD about 10 years ago with the aquisition of an automatic Tag in Trier, Germany. I've picked up some Oris's and a few Movado's but other hobbies led me (and my money) away. I am well aware of the maintainance cost of owning luxury items as I've owned two luxury cars and have a $2K+ espresso machine, $15K+ in kitchen knives, and $5K+ in core diving equipment etc. etc. etc. Price of getting good stuff.

Why do I want a Rolex? Same reason someone wants an Omega (I want one of these too, just not as bad), PP, Zenith, Tag, Seiko, or Timex. They just do. I make no excuses, this is 75% "look at me", 15% for quality, and 10% what I want. I don't second guess myself. Blame it on pop culture for wanting a Rolex. I know there are better watches for the money, but I don't care. Stubborn aren't I?

 

[jherm77]

I suggest purchasing from the classified section of The Rolex Forums. Two sellers I recommend would be DavidSW and TempoKing.

Thanks! I am gonna hang around here some.

 

[garyg]

Hi gents,

Two expectations are certain: I want a Rolex and it won't be new. I still want something really nice, and with the mass amount of fakes out there, I do get nervous. I am considering pulling the trigger from this website: www.timeandgems.com What do you guys think? They have an A+ rating from BBB.

I appreciate your thoughts.

My 2 cents is that one could get a new one, from an authorized dealer, for just a bit more than the site posted. For the price of a Rolex, you might just want to motivated down to a jewelers, so you can see what you are buying .. As others have said, service is expensive, but my GMT is getting towards 8 years old & keeping COSC time

 

[jherm77]

BTW, The Rolex dealer downtown knows me by name. The prices are set in stone.

I guess I didn't say what I am looking to get. A datejust, in SS with a white or blue background. Nothing too flashy or expensive. A new one sounds attractive, we all love shiny things. Unfortunetely the cost is significantly more expensive. Don't normally care about the price difference for items I want, just bought a new $45K truck, but that's apples/oranges. With the exception of vehicles and matresses, I like something vintage with a little character.

 

[Verbal Kint]

I too am thinking about buying a used Rolex(nobody has to know but me). I don't trust the internet for big dollar purchases. I recommend going to an authorized Rolex dealer. They probably have used ones and you'll know you are getting the real deal. Most high end jewelry store sell used jewelry, you just have to ask for it.

 

[betat]

My only comment is why do you want a Rolex? There are plenty of watches out there the equal to or better than Rolex where you could buy new for the same price as a vintage Rolex. Everything about a Rolex is more expensive, the initial price, service, parts.

Many people who buy Rolex buy it for the mistaken notion it is the best watch in the world or it's a brand recognition prestige thing.

Now I'm not saying Rolex isn't a great watch, it certainly is. If you spend some time on Timezone you'll see the continual Rolex war that always goes on there.

All very valid points. The fact remains that many of their models represent a classic, timeless design (no pun intended) that is both simple, elegant and practical. I think that any collector desires to "base" their collection with at least one Rolex, and then explore all the other great brands that are available.

 

[Verbal Kint]

I checked Rolex's website and there are 2 authorized dealers in Colorado Springs, Zerbe and Jared. I don't know which one you went to but the last time I was in Jared the saleslady was trying to sell me a new Rolex at a discount and I thought these things never went on sale. If they know you are there to buy and not just look, they may be willing to cut you a deal. Especially if you have cash. Jewelry has been hit hard by the recession. You might find that you can get a new watch for not much more than a used one.

 

[jherm77]

I have been living in Guam the last three years, I am moving to Colorado in March.

 

[Verbal Kint]

My bad. Didn't pay attention to the parentheses.

 

[ofelas]

I would first go to an authorized rolex dealer, I have never been to one that didn't have a big selection of used watches. Then you get to try them on, see em, talk to someone etc. Hey its always fun hunting for watches. And don't pin yourself in with one brand, try other watches. Whenever I see a Rolex the first thing I think is "Is it real", when I see a breitling, Omega, IWC, Patek, I don't have the same thought.

Excellent observation; in fact - I've actually had people ask me on a couple occasions whether my Sea-Dweller was a fake due to not having the date magnifier.

 

[Kouros]

Whenever I see a Breitling, IWC, or Omega my first thought is "that has no resale value". Second thought: "is that made in China?"

 

[Stormin]

Whenever I see a Breitling, IWC, or Omega my first thought is "that has no resale value". Second thought: "is that made in China?"

When I see a Rolex your second thought about IWC is generally my first. A majority of the "Rolex" watches out there are probably fakes.

And if you're buying watches worried about resale, you might want to worry more about brands like Patek and Panerai than Rolex.

 

[rickboone1]

Reputable jewelers in the area are great usually. Overstock actiually has preowneds.

 

[jherm77]

Whenever I see a Breitling, IWC, or Omega my first thought is "that has no resale value". Second thought: "is that made in China?"

I don't like Breitlings so I won't comment on that. I am surprised you write that about IWC's. Haven't saw any counterfeits, but I am sure they are out there. When I do see one up for resale, it's usually pretty darn pricey. They seem pretty good resale in my observation. Omega's aren't too shabby either. I've been trolling the sale forums for weeks at rolexforums and timezone and older scratched ones are going for around $1-1.4K while good conditioned recent ones are going for $1.8-2.2K. I am speaking of the seamaster and speedmaster models of course. They are not that much more new. Now, Rolex in my observation does hold it's value very well, better than Omega. Just sayin'.

 

[DS/B MCS]

If you walk into your local mall or AD to purchase an Omega...you will get smoked on the resale. If you frequent the watch forums you'll know the Omega AD's that offer 25-35% discounts, so if you do flip the watch you won't get hurt too bad.
Panerai, Patek, and Rolex do a good job of holding their value on the secondary market. Of course, you have a much higher entry price for the PP. I've bought and sold dozens of watches over the years, and I have NEVER lost money on a Rolex

 

[Sam]

I got my Rolex from the sales forum from Timezone and also got a JLC that way. Yes, buy the seller and ask questions. I got a fantastic deal that way on both watches.

Now, if you pay full retail for a Rolex, unless it is something like a Daytona, don't expect to recoup all of your money. And finding an authorized dealer to discount a Rolex, even 10% off, is not impossible, but it will be a bit of a search to do that. Rolex does guard for things like that.

I say shop and unless the cost of a used Rolex is going to net you more than 25% off retail, and if you can find an authorized dealer to sell it at 15% off, Id go with the dealer

 

[blantyre]

From very limited experience in these matters, it seems as though Rolex runs one of the "tightest ships" in terms of price controls that even extend into the resale market. This keeps prices high making the new watches viable even at rather inflated prices. Most other mid-level brands (Omega, Bretiling. TAG) can be bought at not much more than half list price on the "grey" market and are perfectly good new watches, albeit with limited support. Used ones are also relatively inexpensive. I would also guess that the chances of getting a fake are MUCH higher with Rolex than almost any other brand - hence the incentive to stay with an authorized dealer.

 

[Thebigspendur]

The reason Rolex watches sell for the price they do and sell so well is because the manufacturer has a total stranglehold on the product from initial sale to parts availability and service. Of course historical shrewd marketing helps too. If this were to stop the prices would tumble. Its all artificial no different than the De Beers people who have a stranglehold on the diamond market in the world. If they released the inventory of diamonds they hoard the price would tumble.

 

[blantyre]

The reason Rolex watches sell for the price they do and sell so well is because the manufacturer has a total stranglehold on the product from initial sale to parts availability and service. Of course historical shrewd marketing helps too. If this were to stop the prices would tumble. Its all artificial no different than the De Beers people who have a stranglehold on the diamond market in the world. If they released the inventory of diamonds they hoard the price would tumble.

Agree with much of what you say. However, unlike diamonds, there are at least half a dozen other watch brands that are the equal of Rolex IMO, and much less expensive, largely for the reasons you state. If consumers did not lust after Rolexes and simply bought Omegas or something else, the bubble would burst in no time. Ironically in cars competition seems to work in spite of efforts to create impregnable cache and niche value. Mercedes mid level (E Class) range costs about half what it did 20 years ago largely because consumers have a lot of viable alternatives.

 

[DS/B MCS]

there are at least half a dozen other watch brands that are the equal of Rolex IMO, and much less expensive

Off topic, but would you care to name them? I'm really interested to hear the "much less expensive" options.