One of the most common problems for people looking to sell their Rolex watches is the value of the timepiece. Most of the time, we are talking about an antique or vintage Rolex. In any case, it’s a used or pre-worn watch. So, how do you know its value? How do you know what to ask for when you put it up for sale?
The ugly truth is that many people fail to sell their watches simple because they don’t know the real value of their timepieces. Putting a price tag that is too high is a sure way to scare all potential buyers. On the other hand, other people manage to sell their watches but lose money in the process. How? Simple: by underestimating the value of their watch and selling it too cheap. Of course, you’ll find plenty of buyers ready to get a valuable timepiece for half the market price.
So yes, it is extremely important to know the value of your Rolex. So, in this article, we will talk about how to value a Rolex watch and make sure you ask for the right price during a sale. Ready? Let’s get started!
Using Market Data
The first and most common way to find the approximate value of a Rolex watch is to analyze the market. For this, you need to follow the following step by step guide:
- First, find your watch’s original box and all its paperwork. You will find the exact model in the paperwork, so you know what to look for. Also, the paperwork is extremely important in case you wish to sell your Rolex timepiece. It proves your watch is not a fake.
- Next, start searching online for prices. Using a Google search like “Rolex Your_Watch_Model price” will give you a general idea of how much a brand new item costs. Searching for “used Rolex Your_Watch_Model price” or “pre-owned Rolex Your_Watch_Model price” will usually return a lot of used watch sale pages.
- Write down at least a dozen prices from different websites and then calculate the average. This will tell you approximately how much your watch is worth.
However, be aware the condition of your watch and its service record will influence the price. A decently-looking Rolex Submariner may sell for $30,000, while a Submariner in pristine condition may sell for $35,000. The age of the watch is also very important.
Using a Watch Appraisal Service
To find out the real value of your Rolex watch without spending days searching for historical data on the Internet, you should use a professional watch appraisal service. For example, our experts take into consideration a wide array of criteria (such as the age, condition, history, previous owners, etc.) when appraising a watch. In other words, you will get an estimate that is as close as possible to what you can expect to get if you put your watch for sale today.
Are you looking to sell a luxury watch in NYC? Our watch shop is the best place to sell your precious timepiece and get a very good price for it. We will appraise it for you in no time and make you an offer you can’t refuse. You can get paid in cash if you wish.