New or Used Rolex? Which Option is Right For You?
You’re in a good place to purchase your first Rolex. From what others tell you, there’s some debate about whether purchasing a brand new one is the best approach. There are those who believe that going with pre-owned Rolex watches are a better investment. That’s left you with a decision to make.
Is it better to buy a new or used Rolex? The only way to determine which approach works best for you is to consider the merits of each choice. Here are some essentials that will help you make that decision.
Reasons Why Opting for a New Rolex Makes Sense
Are there any real benefits to choosing a brand new Rolex watch over a previously owned one? For some consumers, going with a new one is the only acceptable approach. Here are some examples of what motivates them to take this route:
1. They like to be the very first. One of the most appealing aspects of going with a new rather than a used watch is that no one has ever owned it before. It’s a bit like the thrill of buying a vehicle that’s only seen a little action on the showroom floor. As the very first owner, you tend to feel as if you’ve gained an experience that no one else will every share – at least not with that same watch.
2. You’re starting with a clean slate. There’s no past history of mechanical issues to deal with, or any indication that any component will wear out any time soon. The body has no scratches at all. Everything about the watch is in perfect condition. There’s a lot to be said for not buying what amount’s to someone’s past history.
3. A Rolex, especially a new one, has a bright future that you can share. It’s no secret that these watches last for decades. You may even pass your watch on to one of your children someday. The longevity alone is enough to justify the purchase price.
4. The impact on your image matters. If you are someone who has a certain reputation to maintain and a specific image to cultivate, there’s no doubt that investing in a Rolex that no one has ever owned before is a strategic move. Wearing it sends the message of being successful, which in turn convinces people that you’re competent at what you do for a living. Pair it with the right quality of clothing plus the right vehicle and proper grooming, and you have a recipe for projecting a successful image.
5. Another reason people choose new over used is the fact that they’ve never owned anything new before. They bought homes that were built by previous owners. Their cars were always one or two years old when they purchased them. In times past, going with previously owned items was the only way to afford higher quality belongings. Now that they’ve reached a point where paying cash for a Rolex is possible, it’s natural they want it to be brand-new.
Factors That Indicate a Used Rolex is the Way to Go
Now that there’s a better understanding of what motives consumers to look at the latest Roles watches, consider the advantages of going with a sued one. It is worth buying a used Rolex? Some people find it to be the smartest move all the way around. Here are some of the reasons.
1. The cost is often a motivator. If you’re attracted to a particular used Rolex, it’s because you don’t want to compromise on quality or style. At the same time, you’re the type who loves to lock in a great deal. There are certainly options for vintage Rolex watches that are worth every penny. Even saving a thousand or so dollars by purchased a used one versus a new one leaves you with a sense of having made a great bargain.
2. That quality is also a good reason to consider going used. You already know that Rolex watches in general have a long life. It’s true that buying a used one means you’re not in on the first years of that life. Even so, there’s an excellent chance that the watch will hold up well for decades after you buy it. That’s another reason the cost is easy to justify.
3. There’s a bit of nostalgia involved with your choice. You find a beautiful certified pre-owned Rolex, like, for instance, classic Dayjust 41 that looks just like the one your father owned when you were a kid. The watch was lost at some point, but you never forgot it. Coming across this watch now reminds you of how proud your father was to own a Rolex. More to the point, this particular watch reminds you of good times with your father. Buy it, wear it, and create some new memories with your children.
4. The slow process of depreciation is another reason to opt for a vintage Rolex. Did you know that many designs may be a decade or more older and experience less than a 15% depreciation in cost? When you’re looking for something that tends to hold value rather than lose it quickly, a Rolex is the way to go. In the event you do ever need to sell it for some quick cash, it’s nice knowing that you’ll recoup most of the initial investment.
5. There are Rolex designs that don’t depreciate at all. In fact, they tend to increase in value as the years pass. While this is an attribute that will attract collectors, it’s also helpful for someone who intends to wear the watch frequently. Knowing that a particular design has a track record of increasing in value slightly means you will likely make money on the deal if you ever have to part with it.
Identifying Which Type of Rolex Maintains the Best Resale Value
Which Rolex holds its value the best? You’ll find some debate there. It’s easy to identify several designs that have a history of maintaining and even increasing in value. Here are five examples that are known to hold their value from one decade to the next:
*The GMT Master and GMT Master II
*The Sea Dweller
*The Air King
As you consider the history and value of these and other Rolex designs, always make sure that the watch in question is the real deal. Do you know how to check a used Rolex? Always work with a reputable dealer and look over the certification provided with the watch. Thanks to the Internet, you can also compare images of different designs and identify tell-tale signs that the watch is actually a Rolex and not a knock-off. If you like what you see and there’s proof it’s an authentic Rolex, go ahead with the deal.
The choice is yours. Consider your reasons for buying a Rolex and determine how well a new or used one would fit in with those reasons. Making the right decision will ensure you are happy with the purchase for many years to come.