Whether your Rolex was a gift to yourself, a present from a loved one, or an heirloom vintage watch bequeathed to you, there is certainly some kind of sentimental value that your Rolex holds. This article is not so much about the sentimental value of your Rolex, but rather the monetary worth. Due to their high cost, Rolex watches have a tendency to be viewed as a status symbol; after all, you have to be able to afford a Rolex timepiece in order to have a Rolex timepiece.
However, Rolex's value has less to do with how much it costs and much more to do with why it costs what it does. A Rolex is crafted from some of the most valuable precious metals by only the most skilled watchmakers. This luxury brand watch was designed to go straight from a board meeting in a conference room to a golf outing or a swim. The real value of the Rolex is that if you want it to be, it is the last watch you ever need to own.
While all of this is true, there is still the question of brass tax, i.e., how much is a Rolex worth? There is a sliding scale for determining the worth of a Rolex, and this comprehensive guide will tell you everything you need to know about how much an authentic Rolex is worth.
Rolex uses only the highest caliber of precious metals to craft their superior watches. When dealing with the value of a Rolex, there is going to be a difference between the materials, whether it’s stainless steel, 18k gold, or platinum. The raw materials that your Rolex was forged from are going to determine the overall worth of your luxury brand watch.
The raw materials used to craft the watch don't even take into account some of the additional features a Rolex can have. Items like diamonds, mother of pearl, additional gold can all be included as accents and are often a common highlight on some of the more expensive Rolex options. Additionally, custom Rolexes can be made to your specifications, though the process has a tendency to get very spendy rather quickly.
The Condition of the Rolex
Caring for your Rolex is something you should be doing anyway. After all, it is as much a piece of fine jewelry as it is a functional timepiece. A Rolex can be cleaned and cared for rather easily, so there is really no excuse for not keeping your Rolex in good condition. Even if your Rolex isn't pristine, the high-quality materials your watch is made from will keep their luster with just a little maintenance. That’s why learning how to clean a Rolex is important to keep your timepiece in pristine condition.
The condition of your Rolex is much more than just physical appearance. The exterior of your watch can be flawless, but if there is an internal mechanical issue, such as dry movement dials, then your watch will not be as valuable as a watch that is in worse physical condition, but better working order. Rolex watches are made to last, but even the mechanical superiority of an authentic Rolex is no match for poor care. Daily cleaning is recommended by Rolex, as is a yearly service check to assess the internal mechanisms of the watch itself.
Understanding the Market
Your Rolex's value has a lot to do with the demand for Rolex's. Typically there is not a large increase or decrease in demand year over year in regards to buying Rolex watches from authorized retailers. Where the market does come into play is in regards to the resale value of your Rolex.
There are many factors that can help or hinder your attempts to get the most value from your Rolex. Mainly these factors include the availability of other Rolex watches for sale in your area, your asking price compared to the condition of the watch, and of course, the demand or desire amidst your community for a Rolex. This is by no means an economics lesson or even novel insight; just be prepared to encounter the inevitability that ultimately it is the market that dictates the Rolex price, and not you.
The Tiers of Rolex Watches
Often, the value of a Rolex is dependent on the make and model of the watch itself. Within the entire line of collection from Rolex, there is a wide variety of pricing options that create a broad spectrum of value. The standard Rolex price is anywhere between $5,000 and $12,000, with some of the more elusive models costing as much as $50,000!
Certain Rolex watches are known for retaining their resale value. A highly sought after, well-maintained, pre owned Rolex watch is almost as valuable resale as it is from an authorized dealer.
Specific Rolex watches like Daytona’s or Submariners have such high resale value that their longevity makes them great watch collector's items. Rolex is constantly making minor design changes to the exterior design of its watches.
Original Box and Papers
Building on the idea of resale value, especially as it relates to the worth of your Rolex, a Rolex is substantially more valuable with the proper authentication documents. When you buy a new Rolex, it comes with a very special set of documents, all within the confines of the original box. These papers, along with the original box, are essential to proving that your Rolex is indeed authentic, credible, and worthy of the Rolex name.
While there are other methods of authenticating a Rolex, like looking up the serial number in the Rolex database, these methods are not nearly as easy as simply producing the factory documents that go along with the watch. In addition to the serial number, the papers and original box contribute to the collectibility of an individual watch, making it a more appealing item to a collector or Rolex enthusiast.
With so many factors that contribute to the overall value of your Rolex model, it may be difficult to determine the worth of your watch on your own. Seeking the counsel and appraisal of a jeweler, and more specifically, a certified Rolex dealer can help you be sure that you know exactly what the value of your watch is. Learning how to tell if a Rolex is real is the first step in making sure it has value.
Having your Rolex checked, serviced, and appraised by a certified Rolex dealer will give you the information you need to keep up with the appreciation, or depreciation, of your asset. Check out your local watch service and repair shops to find a dealer you trust.
Time is Money
CJ Charles Jewelers is a family-owned watch dealer with years of experience in luxury timepieces. If you ever have questions about the worth of your Rolex, how to set a Rolex, or are seeking out services and repairs, visit one of our stores or give us a call!