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New vs Preowned Rolex: which should I buy?

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#watch #watches #watchaddict #timepiece
Published
01/23/2023

Rolex is one of the most famous and recognisable brands on the planet. Their watches are synonymous with luxury, class and quality. They’re seen on the wrists of some of the most notorious stars in the world and the Rolex logo is a staple element of many world-famous sports events and competitions. The history, allure and marketing of Rolex watches make them fascinatingly desirable, and it’s probably why you’re looking into buying one yourself or for someone close to you. One choice you may have to make is whether to buy a new or preowned Rolex – fortunately, in this brief guide, we will provide an overview of the key factors you should be considering.

How do prices differ?

You may assume that all preowned Rolex watches would be less expensive than their new counterparts, but this is not always the case. Rare and collectable Rolex pieces can fetch significantly more in marketplaces because they are more sought after. Vintage models also typically set buyers back a fair bit more because they are in high demand. A famous (yet extreme) example is Paul Newman’s Rolex Daytona which sold for just under $18 million in 2017.

That being said, compare standard new Rolex models with their preowned counterparts and you should be able to get better value for your money if you buy preowned. The second-hand market for Rolex watches is incredibly popular and many buy preowned watches as investment pieces because their value can rise and decline just like commodities and stocks.

What models are available?

If you’re deciding between new and preowned then you may want to consider the range of choices available in both markets. New Rolex products are fairly limited year by year and you can usually only pick from a range of about 10-15 different new models. In the second-hand market, however, you will find a much more diverse selection of watches available to you. You should consider whether you cherish having your own first-hand piece to own or you want to buy something that has more history behind it or caters to a particular taste you may have.

Are both easy to buy?

Buying a new Rolex can be difficult and you may be expected to reside on a waiting list until you can be sold a Rolex watch from an authorised dealer. Waiting lists vary for different models but you’re unlikely to be able to walk into a store and walk out with a brand-new Rolex. The preowned market is much more accessible, with preowned Rolex watches being sold freely between merchants and customers through a variety of channels. If you want to buy a Rolex relatively quickly, preowned is your best bet.

How does the experience compare?

Buying, owning and wearing a Rolex can be a mystical experience from end to end. New pieces have that fresh and sublime feel about them, whereas preowned models have a powerful sense of character and charm. Personal preference is important here – not everyone will want a second-hand watch, but others may appreciate the story behind them.

The process of buying a Rolex can be a complicated one, but they are highly sought after for a reason. They convey a sense of luxury, success and class, and one could be a great addition to your wrist or the wrist of someone you care for. Happy buying!

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