Top tips on how to buy a Rolex
The Beckhams have swooned around in them, rappers drop beats about ‘Rollers’ and beloved movie characters have had models named after them.
Rolex is a brand synonymous with quality and luxury - and its watches are understandably up there on many a wish list.
But with so many models available to buy, where would you even start with a new purchase?
Set a realistic budget
You may like the blue and black style of the ‘Batman’ or the beautiful fluted bezel on a Datejust 41… but when looking for a very expensive purchase you have to set a budget to rule out any disappointment.
When considering how much you might spend, think about how often you will wear the watch and what you’re willing to spend on it for those occasions. Is it a daily-wear office watch or will you only wear it at weddings?
If it’s the first Rolex you’ve owned, Luxe Watches would recommend a classic Datejust as the perfect buy. Moderate in size, it’s elegant yet robust and a great day-to-night changer. It’s also available in a multitude of metals and dial options.
Coming in at slightly more, we do like the Oyster Perpetual (from £4,000) which Rolex chose to unleash in bold colours including a bright yellow. If it’s something more sporty you’re looking for, the GMT Master II (from £8,000) has a left-sided crown, making it all the more popular with collectors.
Consider the condition
When it comes to your new watch, how pristine does it need to be? Brand new? You’re looking down a long load of years on those waiting lists.
Preloved? Can you tolerate the odd scratch and a lot of polishing?
Rolex’ alloys — especially the modern Oystersteel — can withstand years of use with little sign of damage but the gold ones are much more susceptible to scratches and dents, as are older steel models.
Whatever the condition of the Rolex, it’s also worth seeing if the watch comes with its original inner and outer box and paperwork as this is desirable when it comes to reselling. Any original receipts with the serial number on them are also in demand.
Want an investment piece?
If you’ve already started researching the Rolex you might want, it’s also worth keeping in mind whether you want the watch to increase in value.
Some of these models have preloved prices that are approaching double their retail price. For example, the white dial of the 116500LN Daytona in steel is worth £2,000 more than the black dial.
Buy from a reputable source
The main problem you will have, having found your dream model is trying to find one in stock! Waiting lists are very long and the pandemic saw interest in Rolex skyrocket due to more disposable income.
For a brand new one, you’d need to make friends with your nearest Rolex dealer, however Luxe Watches has some wonderful pre-worn offerings and because they are handcrafted, each can age differently, making them particularly popular in the vintage market.
It is important you buy from a reputable source and check for authenticity before purchase. Luxe Watches was the first luxury watch retailer to offer NFTs in the form of digital certificates which add an extra layer of security to your sale or purchase.
It is much harder to verify authenticity using sites like Marketplace. Although ebay did launch a protection scheme for watches being sold over £2,000 which meant they had to be inspected prior to auction.
Contact us today
If you need help to find the Rolex of your dreams, come and visit us at our Epping boutique.