How much is my Rolex worth and what affects its value?
If you bought a milestone luxury watch many moons ago, received one as a gift or perhaps you were left one in inheritance, you may just be wondering what it’s now worth.
Working out how much a Rolex is worth isn’t quite as simple as a quick Google search.
Two Rolex watches can look remarkably similar and still have very different values.
Here at Luxe Watches, we currently have a 116610LN at £10,245, a 126610LN at £10,995, and the highly sought-after green-dialled ‘Hulk’ 116610LV at £15,995… all Submariners but with very different values.
So, what actually determines how much your Rolex is worth?
1. The model
Like fast cars and nice trainers, different Rolex models have different levels of demand and availability on the pre-owned market.
Some Rolex sports models, especially the Submariner, Daytona and GMT-Master II, have become particularly recognisable among collectors.
That doesn’t mean every sports Rolex is automatically worth more than other Rolex, but it does mean that the model is in a buyer’s top considerations.
So the first question is: Which Rolex do you actually have?
2. The reference number
Knowing you have a Rolex Submariner is a good start but if you know the reference number, that’s much better. The reference number identifies the particular model or configuration and can make a significant difference when determining value.
We list both the Submariner 116610LN and the newer 126610LN. The watches share the same unmistakable Submariner DNA, but they’re different references and sit at different price points.
The same applies to the GMT-Master II. We include references such as the 116710BLNR ‘Batman’ and the newer 126710BLNR, as well as Pepsi, and other configurations.
If you’re looking for a Rolex valuation, having the reference number to hand is one of the best places to start.
3. Condition
A Rolex in excellent condition is generally going to be more desirable than one that looks like it’s done ten rounds with Oleksandr Usyk.
Scratches, dents, a stretched bracelet or bezel damage can all affect the value of a watch.
Collectors and dealers will also consider the condition of the case, lugs, clasp and dial, along with whether the watch retains its original components.
This is why two examples of exactly the same reference can be worth noticeably different amounts.
Your Rolex doesn’t have to look like it has never been out of the box – they’re made to be worn, after all – but it does need to have been looked after to stand a good chance of a great valuation.
4. Polishing
Polishing is one of the more debated topics in the Rolex world.
Careful refinishing can remove scratches and restore the appearance of a well-worn watch but problems come when a case has been excessively polished over its lifetime.
Sharp edges and original proportions of a Rolex case can become softer, particularly around the lugs and crown guards.
For collectors of certain vintage and highly sought-after references, originality is top priority. Sometimes a little wear is preferable to a lot of polishing.
5. Box and papers
Still got the Rolex box and its paperwork? Great.
If these are stuffed in the back of a wardrobe somewhere or in the loft, you might want to seek them out!
Original box and papers can add desirability to a pre-owned Rolex as they provide useful information about the watch, including its reference and purchase history.
That doesn’t mean a Rolex without its original box and papers is suddenly worthless. The watch is the main event but the complete deal is always more appealing.
6. Age and production history
A 1981 Rolex isn’t necessarily worth more than one from 2018. Age becomes much more interesting when combined with other factors such as rarity, condition, originality and collectability.
Vintage Rolex models with unusual dials, desirable configurations or particularly interesting production histories usually attract significant attention.
The same happens when modern watches are discontinued.
7. Rarity and collectability
Supply and demand play a rather important role in determining Rolex value.
If lots of people want a particular reference but relatively few examples are available, it can become more desirable on the secondary market. Certain discontinued models, unusual configurations and sought-after dial and bezel combinations can therefore command premiums.
Luxe Watches’ current collection includes Batman, Bruce Wayne and more GMT-Master IIs. They all belong to the same famous family, but their individual specifications and collector appeal can result in significantly different prices.
8. Dial, bezel, metal and configuration
The dial, bezel, bracelet, case metal colour and complications all influence the desirability and value of a Rolex.
A stainless steel Daytona and a yellow gold Daytona share the same name and basic function, but they stand in different parts of the market.
Luxe Watches’ current Rolex offerings include Daytona examples ranging from steel and bi-metal models to highly desirable precious-metal configurations.
Certain dial variations can be particularly sought after, especially when they are discontinued, unusual or associated with a specific reference.
9. Service history and originality
Mechanical watches, rather inconveniently, need looking after. A documented service history can provide reassurance that the watch has been properly maintained.
Originality is also important as collectors may want to know whether the dial, hands, bezel, bracelet and other components are original to the watch or have been replaced.
That doesn’t mean a Rolex with replacement parts is automatically undesirable. Sometimes replacement might be the right thing to do to keep a watch running properly.
10. The current market
A Rolex isn’t necessarily worth what you paid for it. It’s worth what buyers are prepared to pay for that particular watch in the current market.
With new models out and trends coming and going, a watch that was once ordinary then becomes the one everybody wants.
This is why online price guides can be useful for getting a rough idea of the market, but they shouldn’t be treated as a definitive valuation of your individual watch.
A Rolex with the same reference number can still command a different price depending on condition, originality, accessories, service history and other factors.
So, how much is my Rolex worth?
As you’ve probably realised, there’s no single answer and that’s exactly why professional valuation can be useful.
At Luxe Watches, the current Rolex collection spans a huge range of references, from more accessible pre-owned models through to highly collectible Daytona, GMT-Master II and precious-metal pieces.
Looking at similar watches online can give you a starting point, but your Rolex is an individual watch with its own history.
Thinking about selling your Rolex?
If you’re considering selling, trading or upgrading your Rolex, Luxe Watches can help.
The more information you can give us about your watch, the easier it is to establish where it sits in the current market.
Have your reference number to hand, dig out those papers from the mysterious cupboard where you keep things you mustn’t lose, and take a close look at the watch’s condition.
Our valuation tool can give you an accurate quote for what your watch is worth on the current market.
Looking to find out what your Rolex is worth? Contact our team today!