Is it time to consign your Rolex?
There are 800,000 Rolex watches made each year. No wonder there is such a large market for resale.
Often, we find that when someone is wanting to resell their Rolex, it’s because they want to step up and buy another more expensive model. There are also of course situations where people come to us to sell their time piece for them due to a forced liquidation for a variety of reasons. Either way, we always work to obtain the highest return for our client.
Fun Facts about Rolex
- Rolex processes about 13 tons of Gold each year.
- The Rolex Yacht Master is the heaviest watch weighing in at almost 10 ounces.
- Most expensive Rolex ever auctioned to date was $5 million dollars in May 2017.
- The least expensive Rolex is the Oyster Perpetual at about $5000.00 retail.
- Rolex is said to have 13% market share of the watch industry
- In the mid 1950’s the Rolex Submariner cost just $150.00
- In 2017 Paul Newman’s Rolex Cosmograph was auctioned for $17 million dollars making it the most expensive watch in the world.
- Rolex employes 7000 people
- Their margin of deviation in setting gemstones is 0.02. This is about a quarter of the thickness of a piece of hair.
- The Rolex Deepsea is the most water resistent watch in the collection. It is guaranteed to 3900 meters which is 12,800 feet.
- The name Rolex was selected because it is just 5 letters and sounds good in any language.
- 1908 is when the Rolex brand was registered.
- Rolex made about 4.3 billion dollars in 2013 according to financial records.
There are five Rolex bracelet types:
Oyster, Jubilee, President, Pearlmaster, and the leather strap.
Due to the popularity of Rolex watches, they are one of the most counterfeited. They are often illegally sold online, swap meets and alike. Their quality can vary from extremely low quality, to the average quality of a fashion watch that might be valued in the $25 range. No one should ever purchase a Rolex watch without documentation of authenticity. One of the easiest ways to know if a Rolex watch authentic or counterfeit is by it’s weight. Rolex watches are very heavy. It is interesting to know that O. J. Simpson wore a counterfeit Rolex during his 1994 murder trial. Just another fun fact to share at cocktail parties.
If you are thinking of selling your Rolex or other luxury watch, having the original box, certificate of authenticity, and original receipt will be helpful in getting the highest return. If you have extra links for the watch band, that would be good to include in the sale as the potential buyer may have a larger wrist.