Do you have a pre-owned Rolex that you would like to sell? Of course, you want the best value for it. But it can seem like a daunting, complicated task if you have never sold a used item before – much less a Rolex watch! Out in the cold, cruel world today, there are business owners that are less than desirable. And counterfeit watches run rampant in the pre-owned Rolex industry. More often than not, appraisals can differ by hundreds of dollars. Possibly thousands of dollars.
All of these factors can make it exceptionally hard to figure out the true worth of your watch. But the process does not have to be intimidating or complicated. With some directed research and a little organization, the process can be simplified, and you can receive what your watch is worth.
Here’s some advice.
First and Foremost – A Reputable Dealer Must Be Located
As the entire process of selling your pre-owned Rolex goes, this is the most critical step. You want to take a look at a dealer’s business practices and see just how straightforward and transparent they’re going to be. Find out as much as you can about their business and make sure they have the following:
- An efficient and viable platform for selling and buying pre-owned watches.
- Integrity, good business ethics, and honesty.
- A stellar reputation with a good customer base and years of experience.
There Are Certain Things to Avoid
Local jewelers aren’t always your best bet simply because of the value of a Rolex. They are probably not experts, even though they may be a decent avenue for sellers of other types of jewelry.
Craigslist is a great place to sell things, as is eBay. But not when it comes to Rolex watches. No matter how positive the feedback may be on a buyer or a seller, when it comes to a Rolex watch, you have to make sure that the person you’re dealing with has the credentials to back up any experience or expertise they may claim to have. Your best bet is to simply steer clear of Craigslist and eBay if you want to sell your pre-owned Rolex.
Get the Necessary Information and Materials
With the dealer located, you will now need to find any and all information and materials related to your watch. You are more likely to get a fair price for your Rolex the more information you can offer. Things like the original accompanying paperwork and the box that it came in are invaluable assets. Are they necessary? No, but they are preferable. If you can, find the following:
- Spare bracelet links.
- Original documentation and box.
- Warranties, service papers, sales receipts, etc.
- The serial number and model number of the Rolex.
It’s Time to Get a Quote
There are all sorts of reasons why it can be somewhat difficult to get an accurate quote for your watch. In fact, for a proper Rolex appraisal, upwards of $275 is charged by many local dealers. (You will recall that we said to stay away from local dealers.) Other dealers may offer online valuations that are free.
An Important Warning!
Should you find a dealer that wants you to send the watch, make sure that they are willing to pay for everything – this includes postage and more than adequate insurance. Insurance should equal the entire “up-to price”. That way, you’ll get the maximum value for your watch if something happens to it while in transit.
Considering the Final Offer
If at all possible, find out what the dealer is planning to sell the watch for after they buy it from you. If they buy it from you for one price, then up that price by four or five times for selling, you didn’t get the best deal that you could. This is where transparency comes in.
When It’s Time to Get Paid
If you want your money ASAP, a direct wire transfer or an overnighted check for full payment may (and should) be offered by the dealer. Make absolutely sure that you are not selling this to them on some type of consignment but are selling it outright for a final agreed-upon price.
Want to Remove All of the Prior Suggested Steps From Your Life?
Starting at step one, with a reputable dealer, we can eliminate the rest of the steps for you. Read on…
Do you have an antique or estate that you would like to make some money from, but don’t want to have to deal with it? The representatives of Showplace Estate Buyers come to you. We buy outright and deal with both partial and full estates.… as well as pre-owned Rolex watches. If you would like a free consultation, contact us today at 212-741-8520. If you would rather simply fill out a form online and have us contact you, click here.