Selling a Rolex Watch

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Leesbro63
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Selling a Rolex Watch

Post by Leesbro63 » Fri Jun 13, 2014 9:08 am

Years ago I had the opportunity to purchase an 18K Rolex Oyster Perpetual watch from a relative at a bargain price. It was only a year or two old at the time...originally purchased in 1995. I've probably worn it 10 times since then and now never wear a watch...that's what my iPhone is for. And as I've become more Bogleheadish, jewelry just doesn't interest me. So I've decided to sell it. I see on Ebay that similar watches have fetched about $13,000 +/-. A friend suggested I send it to Rolex and have it serviced before offering it for sale. I called them and found that it will cost about $1100, (including shipping w/insurance) to have it serviced property. I have all of the original papers and the original box etc.

A few questions:

1. Is Ebay the best way to sell it? I also found "chrono24.com" but it's not clear that it's better than Ebay.

2. Is it worth it to have it serviced before selling? It works fine now, but I can see where a buyer would pay more (but how much?) for a watch recently certified/serviced by Rolex.

3. Are there any other nuances that I might be missing?

windaar
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Re: Selling a Rolex Watch

Post by windaar » Fri Jun 13, 2014 9:32 am

If it is running well I see no need to have it serviced. The price you are being quoted seems high in any case; I have had 2 overhauled in the last 5 years for under $600 (by authorized jewelers). In any case I think that you will get the best price with the least hassle on eBay, if you have sold items there before. Many will not bid on a high-ticket item if the seller has no previous feedback. I sold an IWC on eBay a few years ago and it worked out great. Prospective bidders like lots of high quality photos. Having box & papers is a plus. Good luck!

blurryvision
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Re: Selling a Rolex Watch

Post by blurryvision » Fri Jun 13, 2014 12:30 pm

www.rolexforums.com will be a better site to ask this question.

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Leesbro63
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Re: Selling a Rolex Watch

Post by Leesbro63 » Fri Jun 13, 2014 2:16 pm

Now THAT was VERY useful, blurryvision! Thank you so much!

marc515
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Re: Selling a Rolex Watch

Post by marc515 » Fri Jun 13, 2014 2:45 pm


Grt2bOutdoors
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Location: New York

Re: Selling a Rolex Watch

Post by Grt2bOutdoors » Fri Jun 13, 2014 3:46 pm

Where's Petrocelli? A watch question would not be a watch question without his input. :wink:
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions

LongerPrimer
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Re: Selling a Rolex Watch

Post by LongerPrimer » Fri Jun 13, 2014 3:53 pm

YGBKM. Somewhere we have my deceased FIL oyster with papers cira 1980.

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Lee Saage
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Location: Georgetown, TX

Re: Selling a Rolex Watch

Post by Lee Saage » Fri Jun 13, 2014 9:10 pm

I recently sold a vintage Rolex to H.Q. Milton in San Francisco and was very satisfied with the transaction.

http://www.hqmilton.com
Most of my money went to fast cars, fast living and good wine. The rest I just wasted.

DualIncomeNoDebt
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Re: Selling a Rolex Watch

Post by DualIncomeNoDebt » Fri Jun 13, 2014 10:14 pm

Leesbro63 wrote:1. Is Ebay the best way to sell it? I also found "chrono24.com" but it's not clear that it's better than Ebay.
That's one way. Watchuseek has active forums, active Rolex buyers/sellers, and many active members who buy/sell/trade Pateks, VCs, A. Lange Sohn, and those brands are way more expensive than Rolex.
2. Is it worth it to have it serviced before selling? It works fine now, but I can see where a buyer would pay more (but how much?) for a watch recently certified/serviced by Rolex.
It could help. Rolex service will clean and polish the case, bracelet, lugs, etc. It will come back looking new and damn nice. A Rolex service center will not work on fakes or tampered watches, so yes, recent service paperwork will be very good indicia your Rolex is the real deal and could help move it. There are tons of fake Rolex out there, Ebay is stuffed with them -- and this includes legitimate cases and faces, but counterfeit movements (i.e. the internal guts). The fakes have gotten very, very good, so that is why I attach value to the certificate. I don't own one, but the chick does and she just sent it in for full service. I am thankful lady Rolex is, on balance, definitely less expensive than mens.
3. Are there any other nuances that I might be missing?
I would simply read the forums at certain watch sites, especially any Rolex subforums. Look at recent sales history, get a sense for the prices. A gold Oyster is a nice yet fairly pedestrian watch, so if its real and in good condition, it will sell. Don't get too greedy or it will sit, and keep in mind most people are within driving distance of a nice mall or jewelry store which will have a nice selection of gold Rolexes, and probably used as well, which is my way of saying it's a nice piece, but there are a lot of them out there so the market will dictate.

I won't get one because I'd probably lose it and then get annoyed I didn't go on vacation instead.

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