Most people have watches, but apart from keeping time, most of these watches are not really worth much. There are exceptions, of course, and one of these is when you have a genuine Rolex. You can sell Rolex pretty much the same way as gold or platinum. It is worth a lot of money, and many people want to buy it from you.
That wasn’t always the case, however. It was over the years since the first Rolex watches came out and proved to be high quality and durable. Today, Rolex machines all its mechanisms and cases, and does numerous quality checking to ensure the tradition lives on.
Rolex SA used to be Wilsdorf and Davis back in 1905 in London, and they contracted the Swiss company Aegler to create the mechanisms. They placed it in watchcases made by Dennison and other machinists, placing a “W&D” on the back. The first watches were sold to jewelers, who then placed their own brands on the dial. Wilsdorf registered the trademark “Rolex” in 1908. The name may have been a contraction of the English translation of horlogerie exquise, which means horological excellence. The Kew Observatory awarded a Class A precision certificate, normally reserved for marine chronometers, to a Rolex in 1914. Wilsdorf moved the company to Geneva in 1919 to avoid the wartime export taxes on luxury goods. Wilsdorf and Davis was renamed Montres Rolex, SA, and finally Rolex, SA.
Among its innovations over the years were the first waterproof watch in 1926 (Oyster) and the first watch that automatically changes the date in 1945 (Rolex Datejust). The company offered its first self-winding Rolex watch in 1931 nicknamed “bubbleback,” and participated in the development of the Beta 21 quartz movement technology, which is used in the Rolex Quartz Date 5100. Rolex also produced models for the rugged lifestyle, including deep-sea diving and polar exploration. Rolex also produces the most number of certified chronometers made in Switzerland.
Rolex became most popular in the US market after the so-called “Great Escape” when the company offered to replace the Rolex watches of World War II Air Force pilots confiscated as prisoners of war. Wilsdorf deferred payment until after the pilots came home after the war.
Rolex are expensive to buy. The Pilots models, for example, retails for about £5,600 in the UK. The price range for Rolex watches is $650 to $75,000. The most expensive Rolex watch ever sold GMT Ice at $485,350
Fake Rolex watches
Rolex is one of the most popular watches for counterfeiting, and some are pretty good imitations. Many people are duped into buying them as a real thing. The best way to avoid buying a fake Rolex is not to buy them on the street. You also have to be careful to only deal with reputable jewelers or watch sellers when buying them online. Here are other ways you can tell if a Rolex is a fake:
- Look for any rubber on the case or band
- No genuine Rolex watch has a skeleton dial, which shows the inner workings
- It says made in China
- If it is a Rolex Oyster Perpetual, it does not have a screwed-back case
How to sell Rolex
If you are in a pinch and you need to sell your Rolex watch, you might want to know a few things. Many jewelers and pawnshops are ready to pay cash for your genuine Rolex at any time. You can get quite a good deal for it, too. It all depends on the condition and if you have provenance.
You can get a better price if you have a Rolex watch with all its original parts. You can still sell it for a good price if you have had some part replaced with genuine Rolex parts. It will be much harder to sell if you had a non-Rolex put into your watch, such as the band. If you want to keep the value of your Rolex watch, always bring it for repairs to an authorized Rolex service center, and make sure they use authentic Rolex parts.
You should also make a point of keeping the original box and ownership papers as much as possible. Rolex is counterfeited frequently, so it is easier to sell if you have the provenance to prove it is a real one. A jeweler or expert watch buyer can still authenticate your watch, but you have more options if you have documentation. You can sell it to a private buyer, for instance.
It is not a good idea to refurbish the dial or do anything to restore your Rolex watch before selling it, especially if it is a vintage. Collectors prefer items that are in its original condition, even if it is a little the worse for wear. That said, you should make every effort to keep your Rolex in good condition, as the condition affect the selling value. A Rolex with a tight original band that looks almost like new will fetch a higher price than a loose, old band.
You can still sell a Rolex watch with all its original parts even if it is not working, and not much less than one in working condition. Buyers know they can have an intact Rolex repaired at a reasonable price. That said, do not expect to sell your Rolex watch at close what you paid for it unless it is a really old or rare model. You can expect a good price, but probably not anything what you paid for it when it was brand new. It may be as much as 50% less than the retail price. On the other hand, you may be able to sell a rare Rolex for a few times more than what you paid. It is important to ask a few experts for a quote to get an idea of a fair price.
If you decide to sell your Rolex online, make sure that you do so to a reputable company that will pay for shipping and insurance in your name, and return your watch shipment paid if you do not like the offer. Before sending it off, take a photo showing the serial number to make sure you get the same one back. Rolex maintains a database of all its watches, so it would be easy enough to prove ownership if you take a photo of the serial number. If you are using a PayPal account, make sure it is not linked to an account with a lot of money in it.