When it comes to buying a Rolex, both new and used Rolex watches offer a strong sense of prestige, luxury, and exclusivity. If we had to compare used Rolex watches to cars, they would be like classic, vintage and antique collector cars. Much of the same aspects that make collector cars valuable also applies to discontinued and new-style pre-owned Rolex watches. You want original parts, detailed service records, and for it to be in good condition. However, unlike vehicles, essentially all Rolex watches are collectible, even ones that are still being produced by Rolex today.

Another similarity that comes to mind when comparing collector cars with used Rolex watches is how the process of purchasing either one is sheathed with mystery and intrigue. You need to do your research before buying a Rolex watch, just like you would with a classic car. After all, it is an expensive endeavor.

How do you know it is a genuine Rolex? Does the watch have any aftermarket parts? What models are the most valuable? Is a Rolex Daytona 116520 worth more than a Rolex Daytona 116500? The questions can go on and on.

What’s more, every year Rolex watch prices continue to rise, both in retail and in the secondary market. This can make the transaction of a used Rolex quite confusing.

There are crucial factors you need to consider when shopping for a Rolex on the secondary market, as you want to ensure that you are buying a genuine Rolex at the best price. Not to mention, that your Rolex will appreciate in value (at least someday). It may not be the most traditional investment, but if you are a smart Rolex buyer, it is an investment nonetheless. And one tied with a lot of wonderful emotions and that you can wear on your wrist!

Overall, the best way to go about purchasing a used Rolex is to first do some basic research so you know what to look for and what model you want, then find a trustworthy Rolex seller, like Diamonds By Raymond Lee & Raymond Lee Jewelers in Boca Raton. If you are dealing with a reliable and reputable seller of Rolex watches, then you can save yourself a lot of worry and research. An expert seller that you can trust is the best peace of mind you can get when buying a used Rolex. Every Rolex collector has someone like this in their Rolodex.

In this post, we are going to cover the advantages of buying a used Rolex, general Rolex prices on the secondary market, things you need to look out for when buying a pre-owned Rolex watch, and finally, where is the best place to buy a used Rolex in Boca Raton. For those who do not live in Boca Raton or South Florida, you can still gain plenty of valuable information by reading the aforementioned topics that we will be discussing below.

Without further ado, let’s begin…

ADVANTAGES OF BUYING A USED ROLEX

There are many benefits of buying a used Rolex. Let’s run through the indisputable advantages.

1. Used Rolex watches are typically cheaper

With exception to highly coveted stainless steel Rolex sports watches, like the stainless steel Daytona (both the black and white dial) or the blue dial stainless steel Sky-Dweller, used Rolex watches will cost significantly less than their retail price when new. Up to 30% less. This is because a brand new watch depreciates in value as soon as it is bought and taken out of the store.

Of course, this point only applies to Rolex watches that haven’t been discontinued, as if they have, you won’t ever be able to buy them new, and oftentimes, the price may be more than when they were new due to inflation and supply and demand.

2. A secondhand Rolex watches won’t depreciate in value after purchasing it (they may even gain value)

Rolex watches retain value better than any other watch brand. In fact, Rolex retains its value better than almost any other luxury product in general.

With exception to the most coveted models, the value of Rolex watch drops after purchasing it at retail, and it typically continues to depreciate in value, ever so slightly, for 5-10 years before it starts appreciating in value. Many Rolex watches will reach their original retail value at some point. Some even greatly surpass their original retail price. In rare cases, a Rolex could become worth a fortune. Take the Paul Newman Daytona for example, it sold for $17.75 million at auction a couple of years ago.

The point is, generally speaking, a Rolex will lose around 30% of its value after buying it new. So, if you buy a used Rolex, you will not have to take that loss, as it doesn’t matter how many owners it has. Once it’s used, it’s used. There will be no further depreciation, it will always be whatever the secondary market price demands.

So, if you buy a used Rolex for $10,000, for example, the following year, that same Rolex will be worth around the same amount of money. Unless by some chance a trend has shifted towards that model (or it becomes discontinued) and it increases in value rapidly.

3. You will have a greater selection to choose from

When buying new, you are restricted to only the current watches that Rolex is producing. Whereas buying from the secondary market will grant you a far wider selection of Rolex models to choose from. You will have the choice of both current and discontinued Rolex models!

From vintage to new style Rolex watches, the secondhand market has it all.

4. As good as new

A watch is only new until it is bought, then it is used. So when you think about it like that, just because a watch is labeled “used”, it doesn’t mean it will look worn or scratched and dented. Much of the secondary market is made up of excellent condition Rolex watches. Why? First off, Rolex watches are robust and made to survive everyday use. Second, the vast majority of Rolex owners treat their watches well.

Rolex watches are engineered to last a lifetime. They are utilitarian tool watches. Thus, the difference between a new watch and 5 year old watch is negligible.

In any case, a well-established business that sells Rolex watches should only sell pre-owned watches in good condition. They will also make sure it is clean (not polished*) and running perfectly before selling it. We do that at Diamonds By Raymond Lee and Raymond Lee Jewelers.

HOW MUCH DOES A USED ROLEX COST?

There are countless Rolex watches on the secondary market, so it would be nearly impossible to cover them all. However, we can make some generalizations and then provide examples of new vs used prices for models that Rolex still produces.

On average, a used Rolex will cost 10-30% less than its retail price. So, if it costs $10,000 new, you can get it for around $7,000-$9,000. However, it really depends on the model. Some Rolex references have huge waiting lists at retail, so they end up selling for 30% (or so) more on the secondary market. For example, the Rolex Daytona 116500 sells for $18,000 at retail, but it will cost around $23,000+ for a used one on the secondary market.

Stainless steel Rolex watches tend to hold their value you the best, so they will have a closer-to-retail price on the secondary market…as long as it is not one of the highly desirable stainless steel references because then the price will be even higher than retail.

Now, let’s give you some examples of new vs used Rolex watch prices…

RETAIL VS USED ROLEX WATCH PRICE EXAMPLES

Stainless Steel Rolex Submariner 116610LN
– New, Retail price: $8,950
– Used, Secondary market price: $11,950

White Gold Rolex Smurf Submariner 116619
– New, Retail price: $38,350
– Used, Secondary market price: $32,999

Stainless Steel Rolex Yachtmaster II 116680
– New, Retail price: $18,750
– Used, Secondary market price: $16,899

Everose Gold Rolex Yachtmaster II 116655
– New, Retail price: $27,300
– Used, Secondary market price: $24,000

Stainless Steel Rolex Datejust 41 126300
– New, Retail price: $7,650
– Used, Secondary market price: $7,995

Yellow Gold Rolex 228238 Day Date Presidential Champagne Dial
– New, Retail price: $36,550
– Used, Secondary market price $34,850

As you can see from the above examples, the used stainless steel references are often similar price or more than their new retail counterparts. Whereas the gold models are cheaper on the used market. This is because the stainless steel references have such long waiting lists if you want to buy them new.

Precious Metal Rolex Watches – Are They The Best Rolex Watches to Buy Used?

Buying precious metal Rolex watches used is a no-brainer. You save money, and as long as the watch is in good condition, it’s all the same. As for the stainless steel references, sometimes they will cost more on the secondary market. Of course, if you can get that kind of reference new, definitely go for it. However, you may be waiting a long time. In any case, paying a little more on the secondary market is fine as the appreciation that stainless steel Rolex watches get will make up for it.

All in all, you really can’t go wrong buying both precious metal and stainless steel Rolex watches used.

TIPS WHEN BUYING A USED ROLEX:

Make sure it has 100% Original Pieces (Rolex service parts are ok too). Put simply, you want the watch to be entirely Rolex. Unless you have some special aftermarket customization you like, such as a diamond Rolex.
If older than 10 years, find out when was it last serviced. If it was not serviced, you need to take that into cost consideration. That said, most reputable sellers will be on top of this. At Diamonds By Raymond Lee, we make sure every Rolex we sell is running perfectly.
More to the point above – was it worn or stored, and if worn, how often was it worn. If a Rolex is stored for a long time, the movement needs to be checked out as sometimes tolerances can be affected by not wearing it. A reputable dealer will make sure it’s all good when selling it to you. This is why it is better to buy from a business rather than an individual.
Check the crown for normal function, as this is a good teller of if the watch has issues. You can feel if things are off like this. Even just screwing and unscrewing the crown. If it feels too stiff, that’s indicative of movement problem.
Has the watch been polished? Polishing a Rolex may decrease its value.
Make sure the dial is completely intact. This may seem obvious, but oftentimes people overlook the small things. Find out if any pieces or appliqués have been replaced.
Check the sapphire crystal for cracks. Although it’s not common, it’s possible. Run your nail over the sapphire crystal to see if you feel anything as it can be hard to spot.
Ask for the Rolex papers and original box. This also adds value and will give you some peace of mind knowing it is genuine.
Ask any and all questions you have about the watch. If a seller is hesitant or doesn’t want to answer your questions, then walk away. It’s a big purchase, so take your time to find out everything you need to know. At Diamonds By Raymond Lee & Raymond Lee Jewelers in Boca Raton, we greatly respect this point. We give our clients the full rundown when they buy a used Rolex and we never employ pressure tactics. Take all the time you need.
Negotiate! Typically you can negotiate a bit. You won’t get some crazy deal, but it’s likely you can get it for a little less than the price they state. After all, that’s how things go on the secondary market.

BEST PLACE TO BUY USED ROLEX WATCHES IN BOCA RATON

Diamonds By Raymond Lee and Raymond Lee Jewelers are the best places to buy used Rolex watches in Boca Raton. The two locations (one in East Boca and one in West Boca) are owned by a family who has been in the business of Rolex watches for over 30 years. Diamonds By Raymond Lee and Raymond Lee Jewelers have the best reputation in Boca Raton for fair and honest used Rolex dealings.

Diamonds By Raymond Lee is the #1 trusted seller of Rolex watches in all of Boca Raton. Here’s why…

We have the largest collection of used Rolex watches in South Florida.
We have an A+ rating with the BBB.
Our staff is made up of passionate Rolex experts who can answer any and all questions you have.
Our sales process is pressure-free and headache free
We offer the best prices for used Rolex watches.
We offer free, fully insured shipping for those who can’t or don’t want to come into our showroom.

HUGE COLLECTION OF USED ROLEX WATCHES – THE LARGEST COLLECTION IN FLORIDA!

From new style Rolex watches that are still being produced TO highly coveted Rolex watches that you can’t buy new because the waiting list is so long TO vintage and antique Rolex watches that you’ve always dreamed of, Diamonds By Raymond Lee and Raymond Lee Jewelers have it all.

Rolex watch collections that you will find at our state-of-the-art showroom:

Datejust
Day-Date
Pearlmaster
Submariner
Daytona
Yacht-Master
Sky-Dweller
GMT-Master
Sea-Dweller (& Deepsea)
Milgauss
Explorer
Air King
Cellini

In each collection, you will find the most popular models and references. We are Rolex connoisseurs so we know what the people want 😉

Best Place To Buy Used Rolex Watches in Boca Raton