Rolex appoints Jeweler as an Official Rolex Jeweler (“ORJ”) and grants to Jeweler and non-exclusive right to purchase Rolex products and resell them at retail. Rolex may appoint additional ORJ's at its sole discretion, regardless of their location.
Availability. Walk into any authorized Rolex dealer, and you're going to see a lot of Datejusts, Day-Dates, Oyster Perpetuals, perhaps a Milgaus, maybe an Air-King, and usually a fresh batch of Cellini dress watches in a wide range of sizes and colors. You'll always see a swath of women's models.
Jewelers (local or online):
This is by far the best option for selling a pre owned Rolex watch. With that being said, make sure that the jeweler/jewelry store is trustworthy and reputable.
To buy a Rolex Daytona, the waitlist is often suggested to be 5 or 10 years long. The harsh reality is that unless you have a large spending history with your Authorised Rolex dealer you're unlikely to ever be offered a Rolex Daytona.
They will put you on a 2-4 year waitlist, (sometimes longer,) due to their lack of inventory. During that 2-4 year waitlist, Rolex will have more than one price increase, and by the time the watch is finally available to you, you will be paying the current market price...
In Australia, the waiting list has now been superseded in favour of the expression of interest. Australian Rolex ADs have stopped taking deposits and stopped using the term waiting lists but will offer an EOI. With an EOI, they are not obliged to provide the product but you just get placed in a queue.
The most commonly sought-after Rolex watches include Rolex Daytona, GMT-Master(II), Submariner, and Sea-Dweller.
Clearly, divergent supply and demand is what's driving the scarcity of Rolexes available for purchase. Demand is astronomically high, and even a supply of one million new watches per year can't meet it. It comes down to a numbers game, and there's no sign that this will be changing any time soon.
Once you come to grips that you'll have to hold onto your $10,000 and wait, you'll soon start to wonder how to play the waitlist game at Rolex authorized dealers. The Rolex waitlist is an arbitrary order in which clients are ranked to receive new Rolex watches as they come into the store.
An official Rolex remains an incredible timepiece and will still appeal to buyers without the papers. As such, you can sell a Rolex without the guarantee card. While the absence of a guarantee card will likely reduce the watch's value, the impact might be more negligible than you think.
Run the Serial Number
After checking if it's original, running the serial number is important, for checking whether the Rolex wasn't reported missing. In that case, you wouldn't be able to cash it. On the other way, it can be really valuable for you. The serial number is a critical part of authenticating your watch.
With the serial number, Rolex can identify which AD sold that watch and can in turn contact them, informing them that one of their customers is selling their watch. When the retailer finds out about this, they will likely blacklist you.
Here are some of the most common reasons why Rolex may refuse to sell you a watch: If the watch is for “display only” If the watch is a popular model that the store wants to keep for “VIP” customers. If they suspect that you will flip/sell the watch.
To guarantee continued accuracy and waterproofness, Rolex recommends that you periodically return your watch to an Official Rolex Jeweler or Service Centre for professional servicing. It is recommended to service your Rolex approximately every 10 years depending on the model and real-life usage.
That said, depending on which model you want, be prepared to pay up to 4 times the retail value of that Rolex sports watch. So, with the above said, the definition does mean that Rolex is overrated, as the watch is worth more on the second-hand market (due to demand) than it is when its bought new.
When the Rolex isn't worn, it will slow down and eventually stop. You will need to wind the Rolex so that it continues to run as you wear it. Keep in mind that the less you wear your Rolex, the quicker it will stop running and require winding. Each Rolex has its own power reserve time.
The starting price for a Rolex is around $4,000 for the brand's most popular and simplest offering, an Oyster Perpetual. The average price of a Rolex across all models is $20,000 with the most expensive watches reaching between $30,000 and $40,000.
Patek Philippe arguably owns the top-tier of high-horology. Once, the most expensive watch ever sold was a Patek Philippe with many complications and sold for over 11 million dollars, second only to a Rolex that was worn by Paul Newman.
Patek Philippe
They have since become one of the world's most respected watch brands, known for its impeccable craftsmanship, exclusivity, and elegant designs. Patek often costs more than Rolex on the retail level, but both companies are innovative and offer the highest quality available on the market.
The Daytona is very expensive because it's been one of the most difficult watches to get at Rolex for years.
Discontinued Cellini
Not much of a surprise here, but Rolex has bid farewell to the Cellini collection in 2023. The last remaining model of the Cellini collection was the Moonpase ref. 50535, which has now been discontinued in 2023.
You might not get invited directly, but when they recognize the passion you have for watches – you will for sure be invited. In case you do decide to buy a pre-owned Rolex, be sure to check out our blog about how to buy a pre-owned Rolex.