How to Buy a Rolex Watch

Buying a watch from the world’s number-one brand may sound simple, but that’s not always the case.

Published January 11, 2024

Why Rolex is so popular after being around for over a century, especially now that so many other excellent watch brands are around, is a legitimate question. A Rolex is partially assembled by hand, and partially by machine, and certainly one can find more affordable watches that are ostensibly just as accurate, handsome and sturdy. So how does Rolex continue to stay on top of the Swiss mechanical watch game?

On the surface, one has to accept that Rolex has effortlessly maintained its place among today’s most recognizable status symbols, cutting across cultures and geography as a truly global brand. It’s hard to watch a tennis match, yachting regatta, auto race or golf tournament without the Rolex crown pasted all over it. Famous actors, musicians and many politicians sport Rolexes. Good luck even getting through a major airport without seeing a Rolex clock reminding you of the brand’s ubiquity.

rolex yacht master watch on wrist of man in suit — No watch brand in the world can match Rolex’s recognition.

Certainly, Rolex’s brand cachet motivates a good portion of sales, but it doesn’t account for the fact that Rolex watches — old and new alike — are a surprisingly great value and incredibly well made. When all of Rolex’s proprietary mechanical technology, cutting-edge materials and timeless designs are accounted for, Rolex has always made excellent watches that simply don’t cost as much as their equivalents from other brands. (With Omega billed as a perennial exception.)

The solid value of a Rolex is a little hard to see at first glance (they are certainly not inexpensive), but after shopping around for equivalents, most agree that Rolex is doing things right — including, in some cases, with regard to pricing. Rolex’s steel sports watches exhibit value better than many others, and that has made them especially hard to get.

Buying a new Rolex can be a complicated endeavor because for several years now, Rolex has been unable to keep up with demand on more than a few models (especially steel sports models), thus creating years-long waitlists at the brand’s vast network of authorized dealers. Getting on those lists is itself a challenge requiring investment of time and money. Buying a pre-owned Rolex is also a complicated endeavor because there are myriad details that can be significant in determining the value and desirability of any individual watch, and unless you’re purchasing a Certified Pre-Owned Rolex, you’ll be on the hook to evaluate the watch’s condition, inside and out, yourself.

How to Buy a New Rolex

Pricing

Authorized dealers are not allowed to jack up the prices on any Rolex, an interesting point when you consider that a percentage of folks lucky enough to get a new steel Rolex sports watch immediately flip them for multiples of the sticker price. However, it would seem that most authorized Rolex dealers shun flippers and try to weed them out, considering association with these profiteers bad for business, and alienating to those seeking a good relationship with an authorized Rolex dealer.

In 2023, Rolex purchased Bucherer, the world’s largest watch retailer and its biggest retail partner. While the two companies are operating independently, at least so far, the deal ultimately gives Rolex even more control over its pricing, distribution and dealer network than ever before.

Availability

Walk into any authorized Rolex dealer, and you’re going to see a lot of Datejusts, Day-Dates, Oyster Perpetuals, perhaps an Air-King and probably some of the new 1908 dress watches. You’ll always see a swath of women’s models. You might see a few sport models in precious metals like a Sky-Dweller, a Yacht-Master or even a Submariner; or you might not. Prices on new Rolexes are typically non-negotiable, and if you find what you like among the Rolexes on offer, then it’s a fairly straightforward purchase.

rolex yacht master 42 titanium gear patrol

What you likely won’t see at an authorized Rolex dealer these days are steel sport watches — Daytonas, Submariners, Sea-Dwellers, Sky-Dwellers, GMT-Masters and Explorers (I and II) in Oystersteel are nowhere to be found. From the legendary Parisian dealer Bucherer to the lovely Betteridge Jewelers in Vail, Colorado and Greenwich, Connecticut, to the Rolex boutique on Madison Ave in NYC, we (mostly) haven’t seen a steel Rolex sports on display for at least a few years. If you’re pushy, as we were recently in Paris, you might convince the salesperson to pull a steel Rolex sports watch out of the safe just to check it out, but even that is a rare privilege, perhaps afforded only to pushy journalists.

Why is that steel Rolex in the safe? And who’s gonna get to purchase it?

The Waitlist

That steel Rollie is in the safe waiting for whomever is next on the dealer’s waitlist for that model. Getting on that list isn’t easy. At Betteridge Jewelers in Greenwich (a town full of hedge fund types and, thus, gorgeous watch boutiques), our request to get on the waitlist for a steel Sk-Dweller was politely rejected.

“Well, those models are going to go to people who have a long-standing relationship with the owner.”

“Could I get on the list?” we asked.

“We have a gold one I can show you,” came the well-rehearsed answer. Not even a pushy watch journalist was going to simply waltz onto that list.

rolex watch on wrist — Rolex sports models like the GMT-Master II are nearly impossible to purchase quickly at retail without connections.

And so, the reality of getting a current model year steel Rolex sports watch involves either building a positive, long-term, close relationship with an authorized Rolex dealer (which we highly recommend to those hungry for late model steel Rolexes).

Most authorized Rolex dealers shun flippers, considering association with these profiteers bad for business, and alienating to those seeking a good relationship with an A.D.

Building a relationship with an authorized Rolex dealer will likely involve becoming a regular customer — and browsing won’t cut it; you have to make purchases. All this may smack of nepotism, but it’s really just an extension of mutual loyalty between retailer and customer, akin to getting a table at an impossible-to-book restaurant, getting inked by a renowned tattoo artist or being fitted by a celebrated tailor. Persistence, patience and loyalty can eventually earn you access to the waitlist. And then, you’ll wait.

How to Buy a Certified Pre-Owned Rolex

Of course, there is an alternative to waiting years to get the watch you want: Just buy pre-owned. In 2023, that prospect became safer and arguably easier to do than ever, thanks to Rolex’s new Certified Pre-Owned program. The program, which debuted in Europe in 2022 and made its way to the US in the spring of 2023, sees Rolex approving and certifying its own pre-owned watches for resale for the first time ever.

a close up of a watch — Certified Pre-Owned Rolexes come with a seal similar to the one included with new watches from the brand.

Hypothetically, this gives Rolex even more control over the market for its watches, allowing it to set the ceiling of what its pre-owned pieces should go for and forcing other non-certified sellers to keep prices lower to compete. Technically, the dealers participating in the program are allowed to set their own prices, but we don’t see them gouging anyone if they want to stay on the Crown’s good side — remember Rolex’s rule when it comes to ADs raising prices on new models.

Three-Year-Old Watches with Two-Year Guarantees

Three and two. Those are the most important numbers to know when it comes to Rolex’s Certified Pre-Owned program. The program applies only to watches that are at least three years old, and every watch purchased through the program comes with a two-year international guarantee card. In addition, you’ll also receive a Rolex pouch, a Rolex Certified Pre-Owned seal (similar to the famous green seal that comes with new Rolex watches), a service booklet and a guarantee booklet.

rolex certified pre owned card — Certified Pre-Owned Rolexes come with a two-year guarantee as opposed to the five-year one included with new models.

Rolex Certified Pre-Owned Dealers

Only Rolex Certified Pre-Owned dealers can sell you a used watch that’s certified and backed by Rolex, and these dealers can be recognized by displaying a Rolex Certified Pre-Owned plaque. The dealers include some of the biggest names in watch retail. Bucherer is among them (and was included even prior to it becoming part of the Rolex family), as is Tourneau, which is part of Bucherer with a huge US presence. Outside the official Rolex corporate umbrella, other massive retailer conglomerates Watches of Switzerland and The 1916 Company are also Rolex C.P.O. dealers.

You Can Buy Certified Pre-Owned Rolex Online

One added bonus of the Rolex C.P.O. program is that Rolex-backed and certified watches can now be purchased online, something that is not possible for new models. Tourneau sells Certified Pre-Owned Rolex watches on its website, as do The 1916 Company through its Govberg subsidiary and Watches of Switzerland (its subsidiaries, Mayor’s and Betteridge, also do, but all appear to have the same inventory).

If you just search Google for Certified Pre-Owned Rolex dealers, you’ll see a number of retailers offering “certified pre-owned Rolex watches” and touting their own exclusive certification process. Reading between the lines, you’ll discover that these retailers are not part of the Rolex program and are doing certifications themselves or through a third party — without the involvement or approval of Rolex. If you want Rolex’s official certification, you should only buy from a dealer displaying the official Rolex C.P.O. plaque, seen below.

rolex certified pre owned — Look for the official Rolex Certified Pre-Owned plaque.

How to Buy a Non-Certified Pre-Owned Rolex

Although the market is still adapting to the new reality of Rolex certifying pre-owned watches for its authorized dealer network, so far, the authorized prices have been settling higher than what you would get from a non-authorized reseller (that’s to be expected). So, if you’re looking to save some extra money on your used Rolex watch, you can shop around — but you’ll need to exercise more caution than if you’re buying from someone you know Rolex stands behind.

Whatever the age of the watch you’re interested in, you’re going to want to know a number of things about any pre-owned Rolex in order to get exactly what you’re looking for at a reasonable price. We certainly won’t be the first to say “condition is everything,” but it most certainly (almost) is. Though every seller of pre-owned watches seems to break a watch’s condition into their own stratified rating system, the following ranking is a decent way to assess what you’re looking at.

New Old Stock and Box-Fresh Rolexes

Obviously, the best condition a watch can be in is new condition, and, though rare, it’s not entirely impossible to find older models yet to be sold or which were sold and have sat unused (think “inappropriate gift,” etc.). Interestingly, even unopened watch boxes can be environments in which patina and/or corrosion develop, so even a New Old Stock Rolex requires some assessment before purchase.

Mint Condition

These will have been used, but they have not been abused or altered in any way. They typically are newer and show no signs of wear or patina. Rolex’s alloys — especially the modern Oystersteel — can withstand years of use without showing much damage. A gold Rolex is more susceptible to scratches and dents, as are older steel models. Thus, mint Rolexes tend to be newer and steel.

Used & Unpolished

These watches will show signs of use, like scratches and dents, but have not been polished. Polishing is a process that changes the dimensions of the watch case to varying degrees by shaving off metal, often rounding previously sharp corners and connection points. Serious collectors generally avoid polished Rolexes (and polished vintage watches from other brands), but everyone has their own threshold. There’s no hard rule here.

Used & Polished

These watches may appear to be in better condition than an unpolished watch, but they may cost you less because they’re not 100% original. Again, feelings about polishing are purely subjective, and the amount of metal removed may be a factor in working out the price — purists prefer unpolished watches.

Polishing is a process that changes the dimensions of the watch case to varying degrees by shaving off metal, often rounding previously sharp corners and connection points.

Fixer-Upper

When a watch is water-damaged, run over by a car, left in a chemically toxic environment or otherwise beat up, it may be a candidate for restoration. Generally, we would recommend that only an experienced collector or enthusiast who understands what’s involved take on such a project. Nailing a fair price for the watch is tricky at best, as is estimating restoration costs. It’s a good practice, at the very least, for the beginner to avoid watches whose parts have been updated or replaced, as this can significantly affect the value of a Rolex (or any) watch.

Box & Papers (Full Set)

Whatever the condition of the Rolex, the inclusion of an original box (inner and outer) and papers (original punched sales card, warranty information, service records, etc.) will assure a higher price. You may not care about these items, and that’s fine, but know that any documentation (especially service records) is desirable, and there’s a particular love for original receipts with the serial number on them because they verify the origins of the watch.

In watch nerd parlance, a watch with the original box and papers is called a “full set,” though sometimes a particular dealer might only consider a watch a “full set” if both inner and outer boxes are present along with all paperwork and all accouterments that originally came with the timepiece. (Rolex Oyster-cased watches ship with a small anchor, for example.)

How to Vet a Pre-Owned Rolex

1. Choose Your Rolex Model and Year

Sounds simple, but with the myriad small alterations Rolex makes year to year, this may be trickier than you first imagine. Also, keep in mind that Rolex watches are made in batches, meaning that a watch whose serial number indicates a production date of 1989 may, for instance, have actually been produced in late 1988. Talk to experts whenever possible, refer to Rolex resources (many collector’s books exist, though they’re pricey), use the internet judiciously when researching and vet your sources.

2. Consider Condition

Does it need to be perfect (unused or mint), or can you tolerate some wear? Are you comfortable with some polishing, or are you a purist who demands an unpolished Rolex?

3. Establish a Price Range

One of the best ways to check current market prices is to check recently completed auctions on eBay. Looking at classified listings on online sales forums like Reddit or an aggregator such as WatchRecon can be helpful, too, as they’re often left in place after the sale. Lastly, there are a number of trusted dealers who sell pre-owned Rolexes, and their pricing is typically fair and consistent, if slightly higher than what you’d pay to a private party.

4. Find Examples and Target Your Specific Rolex

If you’re lucky, there will be a few examples of what you’re looking for available at one time, and you can hone in on the one that best matches your requirements and desires. If you’re seeking a less common example, you may find yourself on an extended hunt.

5. Buy the Seller

Whether your target Rolex is with an individual or a dealer, do not make the purchase until you’ve gotten to know the seller. Many seller feedback systems exist. eBay’s is proven, and Etsy’s is great, too (you’d be surprised how many Rolexes show up on Etsy). Most forums have a way to gauge a seller’s reputation. You may even ask an individual or a dealer for references. If possible, get the seller on the phone, on Zoom or meet in person to get a vibe reading. If you sense any shadiness, move on.

There’s a whole host of notable resellers of pre-owned Rolex models whose catalogs you can peruse online. These include dedicated Rolex experts such as the folks at Bob’s Watches, as well as the team at Crown & Caliber and Hodinkee (Hodinkee owns Crown & Caliber). Then there are sellers of both vintage and pre-owned watches that include Rolex, such as HQ Milton and Tropical Watch. In short, there’s no shortage of reputable pre-owned dealers online, many (if not most) of whom have dedicated shop or office space in which to try on pieces. It’s worth giving them a call and stopping by to chat in person.

6. Vet The Rolex’s External Condition

If the dealer passes muster, then it’s time to vet the watch itself. The condition of the case, dial, hands and so on is typically not up for debate. If you’re not seeing the watch in person, then ask for photos from multiple angles, demand high-resolution images so you can zoom in and ask any questions (no matter how dumb they sound) if you’re not sure about what you’re seeing.

vintage rolex gmt master gear patrol lead full — Judging the authenticity and condition of a vintage Rolex yourself — especially from photos alone — can be challenging.

7. Vet the Rolex’s Mechanical Condition

Most mechanical watches need to go through service every 5 — 7 years (though modern lubricants and non-metallic materials are extending service intervals). Unfortunately, many watches do not receive regular service. Any service records will add assurance but will likely also raise the price. If there are no service records, then ask the seller for the service history. If a service was done properly, the movement would have been disassembled to some degree, cleaned, rebuilt and lubricated, and there should be a receipt from the service center detailing the work performed.

The type of work done during a service can range from “checked over” to “regulated” to “cleaned and lubed” (which is an iffy answer) to “fully disassembled and rebuilt.” If any parts were replaced, ask if they used genuine Rolex parts; if they did not, there is actually a legal precedent in the US Courts that requires that (a) third-party Rolex parts be stamped as not original, and (b) the parts be marked “third party” on any service receipts. If all else fails, get images of the movement and show them to a trusted watchmaker for their evaluation, or get a watch with a satisfaction guarantee period and have it looked over.

8. Seek a Warranty and/or Satisfaction Guarantee

Many pre-owned Rolex dealers will offer you a warranty. Make sure they’re specific about what it covers and for how long. If buying from an individual, some online sellers (via eBay especially, which also offers an Authenticity Guarantee on watches purchased for over $2,000) will offer a money-back satisfaction guarantee period for you to get the watch in hand and have it checked out.

9. Wheel, Deal & Buy Your Rolex

In most cultures, the price of a used item is up for negotiation, and in most cases, you can expect to pay at least slightly less than whatever the asking price is for a pre-owned Rolex. For the most part, given that you have a handle on the condition and trust the seller, the prices for pre-owned Rolexes are pretty stable. Don’t expect to get an incredible deal, but don’t expect to get gouged either. Offering to pay cash will often allow you to shave off some cost from the final sale price, as it saves the dealer from having to pay credit card processing fees.

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