Buying a New Rolex VS Buying an Used Rolex?!

uhpharm01

uhpharm01

O.G.
Nov 11, 2012
18,253
5,194
#1
Hello All TPF members,

I'm thinking about buying my first Rolex. I was wondering what is the difference between buying a new Rolex and buying an Used Rolex. Can anyone here give me any pros and cons of the new vs used Rolex? Some people say never buy a new watch because of the depreciation that happens after the purchase. I don't want to buy a Rolex from Ebay.

Thank you,
 
#2
uhpharm01 said:
Hello All TPF members,

I'm thinking about buying my first Rolex. I was wondering what is the difference between buying a new Rolex and buying an Used Rolex. Can anyone here give me any pros and cons of the new vs used Rolex? Some people say never buy a new watch because of the depreciation that happens after the purchase. I don't want to buy a Rolex from Ebay.

Thank you,
Click to expand...

I think buying used is a great option. The great thing about buying used is that you can by a used watch for rather cheap, get it refurbished, and have it be worth more than what you paid for after a couple of years, so buying used is great for investment purposes.

However, Rolex is always improving on their watch-making technology. The steel they used 10 years ago in their watches will be different from the steel they use now, and the newer watches are sturdier and more well-made. Rolex used to suggest servicing your watch every 5 years, and now they suggest servicing every 7 years since the materials they use have improved.

That being said, I didn't buy my rolex used for three reasons: 1. I am terrified of fakes (after my aunt got scammed badly), but there are consignment stores that sell guaranteed authentic rolexes for half the price, 2. In my culture, buying used jewelry/watches is considered unlucky, and 3. It was impulsive :faint:

Either way you will have a beautiful time piece that will outlive you.
 
#3
shopoholica said:
I think buying used is a great option. The great thing about buying used is that you can by a used watch for rather cheap, get it refurbished, and have it be worth more than what you paid for after a couple of years, so buying used is great for investment purposes.

However, Rolex is always improving on their watch-making technology. The steel they used 10 years ago in their watches will be different from the steel they use now, and the newer watches are sturdier and more well-made. Rolex used to suggest servicing your watch every 5 years, and now they suggest servicing every 7 years since the materials they use have improved.

That being said, I didn't buy my rolex used for three reasons: 1. I am terrified of fakes (after my aunt got scammed badly), but there are consignment stores that sell guaranteed authentic rolexes for half the price, 2. In my culture, buying used jewelry/watches is considered unlucky, and 3. It was impulsive :faint:
:
Either way you will have a beautiful time piece that will outlive you.
Click to expand...
I can see your point about not buying a used Rolex. Thanks :smile1
 
#4
From an AD who sells authentic, pre-owned Rolex, it's a really smart idea. I will buy my next one pre-owned..... I just bought my cartier tank ( in my avatar) preowned from a reputable seller on Ebay. Do your homework, read feedback and reviews and you'll be fine!
 
#5
I have several Rolexes, all purchased pre-owned. We have an authorized dealer in town, and I went to their store and tried on several models to know what I liked. Both watches I preferred were in the $10,000 range brand new (although the store did offer substantial discounts, up to 30% on both, but I would have to pay 10% tax). There are several online sellers that have a presence on both Ebay and their own websites (as well has having a physical location - brick and mortar stores in other states) that sell pre-owned with their own warranties. I was able to purchase BOTH watches I liked used for the price of ONE brand new one. Also, the seller I dealt with took a trade in of an older Rolex I had. It was an excellent transaction. I can honestly say I would probably never buy a Rolex brand new. ;)


I would mention the seller by name here but I don't want anyone to think I'm advertising for them. But if it's allowed, I will.
 
#6
I have bought several Rolexes pre-owned and would never buy them new. If you do your due diligence, there is nothing to be worried about. But you need to do it thoroughly and find a seller that has a strong track record and a reputable reputation. You will then get an almost new, or even brand new un-used, watch about 30% off the retail price. Best of luck.
 
#7
The main thing I would suggest with pre-owned is read listings carefully and beware of words like "Custom" as in "Custom MOP dial" or "custom diamond bezel." That's a tricky way of saying "aftermarket." Aftermarket parts on a Rolex actually hurt its worth. I decided not to buy from any seller selling items with aftermarket parts because I couldn't feel confident about the quality of the rest of the watch and I didn't want a "frankenwatch." Also if you find an Ebay seller you like, google their name to see if they have their own website. Normally prices are several hundred dollars lower directly from their site vs. Ebay.
 
#8
If you go for used, DEFINITELY do your research!!! Go into a rolex store and ask questions and learn about the watches before buying a used watch somewhere else. Hold a watch in your hands and feel the weight. My aunt dropped 10k on a used Rolex that turned out to be fake, and when she tried contact the seller, he/she deleted his/her account and all contact information turned out to be fake. My aunt had to get the credit card companies and authorities involved...It turned out to be a huge hassle, and to this day she will never buy used items again!

In my honest opinion, I think there is a bigger benefit buying a used Rolex only if the watch has gold in it...gold watches tend to drop in value faster than stainless steel watches (since the second hand market for stainless steel is better). But it all depends on the type of watch you want. Hope this helps, sorry for replying twice to this thread, but I just really wanted to emphasize how many fakes there are! And the fakes are getting better too: Some really good fakes tell time very well because they have the same technology as citizen's eco drive. ALSO you can get a discount from rolex if you ask for it (sometimes as much as 10%) depending on which store you go to.
 
#10
shopoholica said:
If you go for used, DEFINITELY do your research!!! Go into a rolex store and ask questions and learn about the watches before buying a used watch somewhere else. Hold a watch in your hands and feel the weight. My aunt dropped 10k on a used Rolex that turned out to be fake, and when she tried contact the seller, he/she deleted his/her account and all contact information turned out to be fake. My aunt had to get the credit card companies and authorities involved...It turned out to be a huge hassle, and to this day she will never buy used items again!

In my honest opinion, I think there is a bigger benefit buying a used Rolex only if the watch has gold in it...gold watches tend to drop in value faster than stainless steel watches (since the second hand market for stainless steel is better). But it all depends on the type of watch you want. Hope this helps, sorry for replying twice to this thread, but I just really wanted to emphasize how many fakes there are! And the fakes are getting better too: Some really good fakes tell time very well because they have the same technology as citizen's eco drive. ALSO you can get a discount from rolex if you ask for it (sometimes as much as 10%) depending on which store you go to.
Click to expand...

Thank you so much for posting twice. The More information that I have before my purchase the better. Esp. about the fact that I may can get a discount on a brand new Rolex, too. :smile:
 
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