This holiday season, are you eyeing a few gifts for yourself? While it’s always more rewarding to give than receive, there are likely a few must-have items on your wishlist!
If you’ve been thinking about buying a new watch, then there’s only one brand that will do: Rolex. The epitome of luxury and high fashion, Rolex has been setting new standards for premium timepieces since 1905.
While it would be nice to see a new Rolex under the tree, they can be a little cost-prohibitive for some. If this is the case, then a used Rolex can be equally stunning.
Today, we’re taking a close look at how the two kinds compare, so you can decide which one is right for you.
A Look at The Rolex Market Shortage
Since its inception, Rolex has been famously elusive about its production and distribution strategies. Still, the beloved Swiss brand was forced to issue a public statement in September 2021, when its growing shortages became impossible to ignore.
In the wake of the recent COVID-19 pandemic, Rolex watches have become more popular than ever before. While this is undoubtedly good news for the brand, it’s bad news for anyone looking to secure a special piece in the months to come.
While supply chain disruptions are occurring around the world and affecting various industries, the luxury jewelry market has not been spared. Today, it’s not only difficult to get your hands on a brand-new Rolex. It’s also exceedingly expensive.
Adding to the frustration is the fact that, until recently, Rolex has been notoriously silent about the issue. There’s no information on press contacts, and attempts to reach company representatives are largely unfruitful. However, the brand had to reply two months ago, when Yahoo Finance released a story suggesting that the recent shortages were strategic in nature.
A spokesperson for Rolex explained that the scarcity was in no way linked to a strategy. The simple fact is that the current production lines cannot meet the exhaustive demand. While Rolex could cut corners to expedite the process, they said this was something they absolutely wouldn’t do, regardless of the cost.
A Used Rolex Can Be Less Expensive
New Rolexes might be difficult to come by these days, but they aren’t impossible to find. The new question has now become: How much are you willing to pay to claim that the piece on your wrist is brand-new?
Resellers are making a fortune off the recent supply issues, marking prices up far beyond what’s standard or fair. This is one of the main reasons why it’s smart to search for a used Rolex for sale.
As long as you purchase from a reputable source, you can rest assured that a used Rolex won’t compromise on quality. The only difference will be the price tag, which will be refreshingly lower than you’re used to seeing online and in stores.
Another economic benefit to keeping in mind? Many secondhand Rolex retailers will also offer attractive financing options that make it even easier to afford your new heirloom piece.
Take Watches of Wales, for instance. You can secure any watch available through this company on 0% finance, and the application takes just minutes to complete. You can discover more here if that offer appeals to you.
Excellent Quality and Craftsmanship
Years ago, the act of purchasing a used Rolex looked much different than it does today. Before the rise of e-commerce and the Digital Age, anyone looking to buy a Rolex for less than retail would be required to seek out unscrupulous dealers, many of whom offered products of questionable quality and authenticity.
Now, it’s easier than ever to verify a reseller’s credibility. There are several features and accessories that you can only find with a top-tier company. Among others, these include:
- Authentic, stainless steel watch cases
- Authentic Rolex boxes
- One-year warranties
- Complimentary insurance valuation certificates
Wondering what that last bullet means? An insurance valuation certificate species the value of a specific product. In short, it’s a type of financial assessment that measures the worth of an item.
If you’re thinking about buying a used Rolex, then it’s always smart to make sure that any reseller you work with can offer an insurance valuation. Otherwise, it can be difficult to know if you’re getting a real product or a realistic-looking knock-off.
Start Enjoying Your New Purchase Quickly
Even if you’re willing to pay the sky-high price associated with a new Rolex, it might be after the holidays before you can look down to find it on your wrist.
This is because the supply and production backlogs have created a major pushback on new orders. In fact, the waiting lists for some stainless steel Rolex watches are more than one year out.
Get Access to a Wider Range of Models
Do you have your heart set on an older model watch with a certain degree of vintage flair? If so, then it’s smart to purchase a Rolex that’s already been pre-loved by at least one owner.
Why is this the case? Put simply, premium resellers will have access to a wide variety of watch models. They work one-on-one with individuals who want to trade-in or sell their Rolex watches, and this includes models from decades past.
Often, this also includes rare and hard-to-find watches that you’d spend a substantial amount of money on by buying new. You may even find Rolexes that were retired or discontinued years ago, such as the Double Red Sea-Dweller.
While some watches will depreciate over time, that isn’t the case for those designs. If you’re lucky enough to score a great vintage Rolex, then it could actually increase in value over time as long as you take great care of it.
Ensure Timeless Quality and Longevity
In the world of secondhand jewelry and timepieces, there are certain items that you just can’t trust to stand the test of time.
For instance, some of the bright, faux “gold” pieces that dominated the 1980s would turn your ears and fingers green in a matter of minutes! There’s no way they’d keep their shine, quality, and performance decades later.
With an authentic, used Rolex, you never have to worry about this issue. Since the very beginning, Rolex has made it very clear that it will not sacrifice quality for any reason, even when a global pandemic threatens to usurp its production lines altogether.
While this laser-sharp focus on quality might seem maddening to some, it’s a welcome sigh of relief for anyone who wants to buy watches that last. If your used watch is in great shape when you buy it, then it will look just as good years down the road as long as you properly maintain it.
This is due in large part to the fact that the Rolex design model is relatively simple and straightforward. There aren’t many intricate designs or mechanisms that could go wrong. Most models are three-handed in design, though some feature calendar capabilities.
When you purchase a Rolex (new or used), you can feel confident that you’re investing in the future – just like if you would buy BNB, Bitcoin, or any other cryptocurrency.
Should You Ever Buy a New Rolex?
While it’s always smart to search for used Rolexes before diving into a purchase, there are a few benefits to buying new.
For one, you can have guaranteed peace of mind. If no one has owned the timepiece before you, then there’s no chance for an internal component to be faulty. At the same time, the watch itself should be free of any aesthetic issues or markings.
If you don’t have a reputable secondhand reseller in your area, then you shouldn’t feel forced to purchase a watch from an unverified source just to save a little money. Doing so could cost you more in the long run, as you’ll wind up spending a ton of money on repairing and fixing a lemon.
Plus, keep in mind that the market for counterfeit Rolexes is huge.
Unless you can guarantee that the company you purchase from will offer an insurance validation certificate and warranty the product, then it’s best to steer clear. Even if the watch you buy isn’t completely fake, there’s a chance that it could be repaired with incorrect or inauthentic replacement components, which lowers the overall value of your timepiece.
Invest in Yourself This Holiday Season
A Rolex watch is an investment that most people only make once in their lives, if ever. While there’s no denying the beauty and quality of a brand-new piece, you don’t have to drain your bank account trying to afford one.
As long as you can be sure you’re working with a reputable reseller, a used Rolex watch can be a great, wallet-friendly purchase. By doing your due diligence and researching the company beforehand, you can be confident that you’ve made a smart decision.
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