Rolex Selling 101: Tips to sell my Rolex watch with confidence

Published by Ann Thompson on

Facing financial hardship or simply want to upgrade your Rolex to a newer model?

There could be various motives behind selling your Rolex, and Diamond banc believes you deserve to reach the bottom line concerning its genuine price in the constantly evolving second-hand market.

But equally important than that, seek a trustworthy Rolex buyer who can operate with maximum transparency without the smoke and mirrors.

This article will essential key points implicating Rolex selling in the safest and most rewarding way possible, making you feel confident about your decision.

Condition of the watch & original packaging

The foremost logical thing, to begin with, is to scan your Rolex watch’s condition and peek for anything broken, damaged, or missing.

.Even if you’ve worn your timepiece daily through the years, good care and adequate maintenance of your Rolex go a long way at the estimation stage. Is your timepiece free from dents and scratches? If yes, then it is probable to hold its value better as opposed to having visible flaws.

Also, prior to evaluating your timepiece, see if you can locate the original box and documents to fetch a premium. This might include any manuals, warranties, or additional genuine accessories that accompany your luxurious wrist chronograph.

Manufacturer paperwork from Rolex is a great authenticator for your piece, as phony Rolexes are widespread in the second-hand market. Thus, the retail purchase receipt will add weight to your item’s appraisal in the eyes of your Rolex buyer.

Diamond Banc can purchase your Rolex without paperwork but encourages potential sellers to make an effort and find the packaging as it can greatly enrich your offer.

Food for thought: Reconditioning your watch to make it worth more when selling may require a prior visit to an Authorized Rolex Dealer.

If this is something you’ve already accomplished or plan to do — include the relevant repair or restore service paperwork when the time comes for a watch assessment to obtain a more profitable quote.

Rolex Authenticity check

Checking the authenticity of your watch is something your Rolex buyer will want to carry on to confirm and prove that your used Rolex is undoubtedly a real one. Moreover, they will learn more about your specific model by checking the following:

The reference number

Your Rolex buyer needs to identify the exact model of your Rolex watch; this is where the reference number becomes handy.

The model number of your Rolex watch is located between the lugs at the 12′ o clock position. Removing the metal or Oysterflex bracelet can let you pinpoint the 4 to 6-digit number etched on the side.

This number is also listed on the certificate of authenticity issued by Rolex if you still got the original box and papers, by any chance.

Your watch’s unique serial number

The serial number on your Rolex watch can be used to determine what year precisely it was manufactured.

Every Rolex watch has a unique serial number engraved inside glass in the inner part of the bezel at the 6 o’clock stamp.

Your Rolex buyer can uncover the resale price of your timepiece in the second-hand market by checking the above.

Research the current market value of your particular model

Since the pandemic’s beginning and especially over Q1 of 2022, resale prices on the most collectible modern Rolex models have risen sharply. 

And as of summer 2022, perhaps more inevitably, this rollercoaster ride seems to be taking a downfall, to which watch experts view it as ‘market normalization.’

Not only that, but the recent cryptocurrency market crash is boosting demand for hard-to-find Rolex models on the pre-owned market, pushing prices upward.

Rolexes hold their value better than other luxury watches, with specific models even appreciating with time.

To better understand this concept, it’s essential to get the difference between the initial retail price of your particular Rolex watch model and how much a potential Rolex watch buyer in the secondary market is willing to spend on it.

The market value of a pre-owned Rolex is primarily driven by supply & demand. When demand exceeds supply, especially for discontinued models, this is where the pricing advantage works in your favor.

For example, the Rolex Cosmograph Daytona, nicknamed “Panda Rolex,” featuring a white dial and black Cerachrom bezel, launched in 2016 with a retail price of $13,500. 

That same watch today, in pristine condition, can quickly sell for anywhere between 30K to 40K, depending on the item’s condition.

Diamond Banc uses sales data such as marketing comps to determine the value of a used Rolex watch by comparing it to similar models recently sold in the secondary market. 

You can get an estimation of what your watch is worth today by using our Rolex Value Calculator.

Research online to find an honest and reputable Rolex buyer

When selling your used Rolex watch, you want to ensure that it’s done securely, fast, and with the utmost confidentiality. Unfortunately, you won’t have all of these previous 3 qualities plus outstanding customer service if you sell via:

  1. Craigslist: When you own an expensive watch, it is never a good idea to meet a stranger, even if they verbally confirm having $20,000 in cash handy.
  2. eBay: Many people get scammed by fake PayPal payment confirmations and give away their expensive items to thieves.
  3. Online auction sites: This can be a lengthy process during which you will not benefit from the expert guidance of a watch guru.
  4. Pawnshops: They are not the most transparent in their dealings and are often lowballing and pressuring you to accept a ridiculous offer.

You can also Google “Rolex buyers near me” and do your due diligence on local businesses by checking things like customer comments and reviews.

Diamond Banc takes full responsibility for your watch while it is in transit to us. From when your package arrives at our headquarters, we always keep your watch under close observation and HD video recording. 

You can rest assured knowing both your shipment and its contents will be handled with utmost care and vigilance by our team of experts.

Sell my Rolex online or in person with Diamond Banc

When selling your used Rolex watch, you want to make sure that it’s done securely, fast, and with utmost confidence.

Diamond Banc is uniquely positioned to help you sell your pre-owned Rolex watch because we:

  • Have in-house watch experts with hands-on experience & knowledge of Rolex
  • Are A+ rated at the Better Business Bureau [BBB]
  • Hold a diverse and vast network of Rolex dealers, retailers, and private collectors

We are the best place to sell your Rolex online and get the highest payout. All you need to do is follow these 3 easy steps:

1- Complete a form to describe your item and get an initial quote

2- Mail in your Rolex using our fully-insured, free prepaid shipping label

3- Once your Rolex is evaluated, you get paid instantly via wire transfer or check

Diamond Banc is dedicated to operating with transparency, convenience, and integrity. We keep our clients informed every step of the way and practice constant vigilance to make sure your watch is protected during the entire transit.

If you prefer to visit us in person, some of our national branches include:

  • Miami, FL
  • Boca Raton, FL
  • Orlando, FL
  • Tampa, FL
  • Kansas City, MO
  • Columbia, MO
  • Nashville, TN
  • Rochester, NY
  • Atlanta, GA
  • Roswell, GA

Whether selling your Rolex Day-Date or Sea-Dweller, we believe you deserve fair and honest market values and a tailored customer experience that meets your needs.

 

 

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