If you’ve got a Rolex watch and you’re wondering, “where can I sell my Rolex watch?” then you’ve come to the right place. Anyone who knows or has owned a Rolex knows that having a Rolex is as good as having currency. Its resale value is high because the watch itself is quite valuable.
If you’re ready to sell your pre-owned Rolex, one of the reasons you’re wondering “where can I sell my Rolex watch?” is because you want to get the best service and the best price. Of course, that’s only natural seeing how much you’ve invested in a watch.
However, there’s much more to selling a Rolex watch than where you sell it. In this guide, we cover all the steps. Come with us.
Steps To Selling Your Rolex Watch
1. Find The Reference And Serial Numbers
The first thing you must do is to find out the exact type of Rolex watch you have for sale.
So, you want to find out the reference number and the serial number.
The term “reference number” also goes by other names including “model number” or “style number.”
Whatever the term, the reference number is a string of digits which is important to know and understand the Rolex model you own.
The reference number identifies the watch type and gives you information about the watch. For instance, from the reference number, you can tell if a watch is a yellow gold Daytona, a platinum Day-Date or a stainless steel Submariner.
It’s important to have this number handy always seeing the information it gives about your watch.
Now, while the reference number identifies the watch type you have, the serial number, on the other hand, is unique to the particular watch you have. It’s important you never share this serial number online because of the counterfeiters.
How To Find Your Rolex Watch’s Reference Number If You Don’t Have The Paperwork
Now, finding the reference number and serial number is important, and if you have the paperwork with you, finding this is easy. However, if you no longer have your paperwork then you’d have to check the watch case by taking off the bracelet.
For the reference number, this is usually found at the 12 o’clock position in between the lugs on the watch case.
How To Find Your Rolex Watch’s Serial Number If You Don’t Have The Paperwork
Now, the serial numbers of a Rolex watch from the 1950s to 1960s might be similar because, in 1954, Rolex began all over again after their serial number reached #999,999.
To solve this dilemma, you can work with a watchmaker to open the back of the watch where you will find a date code inside the case back. It will tell you whether your watch was made before or after the mid-1950s.
If you’re quite handy though and you want to try cracking this yourself, here’s an easy video that explains how to open your Rolex’s case back.
Also, towards the end of 2010, Rolex changed from using a chronological sequence to a random one. So, any watch that’s made after 2010, would be impossible to date precisely.
Generally, the serial number of a Rolex watch is found on the opposite side of where the reference number is found at the 6 o’clock position.
However, the exact position of the serial number will differ depending on when the watch was made.
If it was made before 2005, then the serial number is going to be between the lugs on the opposite side of the watch, at the 6 o’clock position.
If after 2005, then in the space between the dial and the crystal at the 6 o’clock position. This position is referred to as the rehaut.
2. Research The Approximate Market Value Of Your Watch
After finding your watch’s reference number and serial number, it’s time for some research. Begin by Googling your watch by its reference number to get a ballpark figure of how much your watch is actually worth in the market right now.
Remember that the figure you get on Google is only a ballpark figure. A lot of other factors need to be considered to determine the exact cost.
Here a few factors.
Firstly, a full set watch will be more expensive than any other kind of watch by up to 10 to 20%. So, what is a full set? One with the box, warranties, papers, brochures, service records, and receipts. Extra bracelet links also shoot the price of your watch as well.
Besides the higher price that a full set watch gives the seller, a full set watch also gives the buyer more peace of mind since they are sure that the watch is authentic. Inadvertently, you sell your watch faster as buyers rightly perceive it as authentic.
The next thing that would affect the price of your watch is the condition of the watch. Is any part of the watch dented, cracked, scratched, or damaged? These are some of the things your potential buyers will be considering in comparison to other pre-owned Rolex watches for sale from other sellers.
Again, Rolex watches with replacement parts tend to depreciate in value as buyers would like to get a watch that’s as close to the original form as possible.
In fact, interestingly, a Rolex watch that’s untouched but is still exhibiting some signs of wear and tear would fetch a higher price than one that looks new but comes with replacement parts.
3. Take High Resolution Photos
It’s important to take clear, high-res photos of your watch if you intend to sell them. The front, the back, as well as the warranty card must be clearly visible in these pictures. Pictures are important as they help your potential buyer confirm that the watch in question is in good condition, and, therefore, of value.
If your pictures are shabby, even if the watch you intend to sell is great, not many people would be interested in buying your watch. This is simply because they can’t appreciate the value they are bringing. For a watch that sells for so much, buyers want to be sure they are not duped. Also, for the same reason as the price of a Rolex watch, you can do much more than poor photos.
4. Decide On How And Where You Want To Sell Your Rolex Watch
With all the information and pictures at hand, it’s time to figure out how and where you want to sell your Rolex watch.
Watch this video where J Anthony shares his top tips for selling Rolex watches as well as other high-end watches. It’s a bit long but it’s totally worth it.
Where Can You Sell Your Rolex Watch?
Where you will sell your watch is about the most important decision you can make when it comes to selling your pre-owned Rolex wristwatch. Thankfully, there are many outlets where you can sell your Rolex watch.
If you want to do it offline, in-person, you can sell at the pawnshop, at a jewelry/watch store, an auction house or directly to the buyer using a classified ad.
If you prefer doing it online, you can sell it by asking for a quote online that specializes in buying and selling Rolex watches.
Alternatively, you can sell it online through an auction site, as well as apps and marketplaces that sell pre-owned luxury goods.
Now, a small advice from us. If you’re going to sell your watch, avoid selling in pawnshops as, most times, the seller ends up getting lowballed. You hardly get value for your money as the person to whom you’re selling either wants to cheat you or does not know enough about watches to price your Rolex accurately.
We will also advise you to stay away from Craigslist for safety reasons. The idea of meeting a total stranger with an expensive Rolex in your possession could be a recipe for disaster. So, we would advise you to stick to a jewelry/watch store, or an online or offline auction house.
Private jewelers and watch collectors are also great ideas. However, they can be a tricky option. Before doing business with any private jeweler or watch collector, ensure that you read their reviews online to be sure you’re dealing with someone safe.
Would You Like To Sell, Consign, Or Trade In Your Watch?
If you decide to simply sell your watch, you’ll be taking the fastest route to making your money. However, that’s the option with the lowest yield. If you’re in a desperate fix though, that might be your best bet.
As for consigning, it takes a longer time, however, you earn more money than if you decide sell your watch outright.
Finally, there’s the trading in option. This one gets you the highest value. However, this value is not in cash but in credit. So, the next time you make a purchase the value for which you sold your watch would be removed from your purchase.