Looking to sell a Rolex watch in Canada? Whether you live in Toronto, Montreal, Vancouver or elsewhere in Canada, for many people, selling their Rolex watches on the secondhand market is a completely new proces...
How to Sell a Rolex: A Comprehensive GuideApril 21, 2017 - Watch Articles
The secondary market for luxury watches is booming. And that’s great news for anyone ready to sell a Rolex. Rolex is by far the most in-demand, easily recognized watch brand in both the primary and secondary (resale) market. That high demand means that selling your Rolex can be easier than selling another brand.
If you’ve ever wondered what’s the best way to sell a Rolex, read our in-depth guide on how to get the most for your pre-owned watch.
How to sell a Rolex watch?
Before you sell a Rolex, there are a few strategies that will help you secure the best price for your watch. Keep these below points in mind for a smoother process when selling your pre-owned Rolex watch:
- Find the reference number of your Rolex
- Find the watch’s serial number
- Find the original box and papers
- Do your research to understand why secondhand values are not the same as retail
- Take pictures
- Find a reputable buyer
1. Find the reference number
If you have the paperwork for your watch, its reference number will be listed there. If you no longer have the paperwork, then you’ll have to look on the watch case. Begun by removing the bracelet, then look between the lugs on the 12 o’clock side of the case.
2. Find the serial number
You’ll also be able to find the serial number on the watch’s paperwork. If you no longer have the paperwork, then you’ll have to remove the watch’s bracelet. Where you look will depend on the age of the Rolex: Prior to 2005, the serial number will be in between the lugs on the exact opposite side of the watch case at the 6 o’clock position.
Post-2005, the serial number is engraved on the rehaut (the space between the crystal and the dial engraved with ROLEX ROLEX ROLEX) at the 6 o’clock position. That serial number is specific to your watch: NEVER publish it online or anyplace else that counterfeiters can lift the serial number.
3. Find the original box and papers
“Papers” can include the watch’s warranty card, manual, receipt, and documentation of its service history. Not only will box and papers get you a higher selling price, but they will also assure the buyer of the watch’s authenticity. While any service documentation will give a buyer an overview of the watch’s condition and history.
If you don’t have the original box and papers, then it’s still possible to sell your Rolex. But you’ll get a slightly reduced price.
4. Do your research
It is always important to do your research and understand the difference between retail and resell price. The bottom line is that you not will earn the same amount when selling your Rolex timepieces.
Sell prices are, of course, always lower than buy prices. This is because any damage to the watch, however slight, will have to be repaired. Even if the watch is “like new”, it is no longer in fact new.
And much like a car, once purchased it depreciates in value. Of course there are exceptions for rare and highly desirable watches in fantastic condition.
5. Take photos
When you’re selling something as pricey as a Rolex, it’s essential to have clear, high-resolution images if you’re selling Rolex watches. Take pictures of the front and back of the watch and ideally also take a photo of the warranty card. These pictures will allow the buyer to better ascertain the condition, and consequently the value, of the pre-owned Rolex watch for sale.
6. Find a reputable buyer
This is by far the most important decision you’ll make when selling a Rolex watch. There are several outlets where you can sell your Rolex. All have pros and cons:
- Online auction sites: This can be a long process in which you will not benefit from the guidance of a watch expert.
- Craigslist: Meeting a complete stranger while in possession of an expensive watch is never a good idea.
- Pawnshops: These establishments lowball the seller, because they make their profits from selling to a more specialized dealer. They rarely have expertise in luxury watches or knowledge about specific references.
Alternatively, at WP Diamonds, we buy your luxury watch directly and in as little as 24 hours. Not only do our in-house specialists have decades of knowledge and experience in luxury watches—and specific expertise in Rolex—we are part of a global network with offices around the world and have an A+ BBB rating.
Whether you are selling a Rolex Submariner or Daytona, whatever the luxury watch you want to sell, we offer fair market values. There are no fees or commissions deducted from your final offer, get your free quote today from our experts.