This is one of the most frequently asked questions in the watch business. There are so many different factors that go into valuing your old Rolex watch. Obviously, condition plays a large role but that is just the beginning of a long list of factors that are accounted for when we make you an offer to sell your watch. Here are the key factors that we take into account when determining a value on your pre-owned Rolex.
- Condition – This is by far the biggest factor in determining the price of a watch. There are so many different little factors that come into play when it comes to the overall condition of a watch. First is the overall cosmetic condition. Has the watch been over polished, has the case or band been damaged in some way, and has the crystal been scratched or chipped. The amount of wear on the band is also a big factor as replacement bands from Rolex are very expensive. On vintage Rolex models, the condition of the dial and hands are also taken into account. The second biggest aspect is the mechanical side of things. If the watch has been recently serviced or is only a few years old this typically isn’t an issue. However, if the watch does need to be overhauled that does get factored into the price we offer.
- Model/Reference Number – Rolex has used anywhere from a 4 digit to a 6 digit reference number. Current models are 6 digits and the reference number is located behind the end pieces of the band at the 12 o’clock position. Different models bring different values as certain features were added as the models were updated over the years. For example, a Rolex Datejust 16013 is worth less than its successor, model 16233. This is mainly due to the fact that the 16013 had a plastic crystal instead of sapphire and there is also the factor of quick-set vs. non-quick set. In short, the exact reference number can be nearly as important as the overall condition of the watch.
- Age/Serial Number – The age of a Rolex is determined by its serial number (see chart below). Age can either benefit the value of the watch or hurt it. Certain vintage Rolex models are highly desirable and others are difficult to sell. For example, Rolex Submariners, GMT’s and Daytona’s from the 1950’s, 60’s, and 70’s are some of the most highly sought after watches in the world.
- Box and Papers – Whether or not your watch includes papers is far more important than whether it includes the original box. Both items have value so it is always best to bring all items that pertain to the watch when going to get an offer.
Rolex Production Dates by Serial Number
After taking each of the factors into account we use numerous pricing resources to reach a current value on your Rolex watch. At Timeless Luxury our ultimate goal is to make sure you leave happy and with as much money possible in your pocket when selling your watch. To get a free quote within a few hours click here. It is always best to bring your watch into our showroom for a more precise offer but this option will give you a good idea of what to expect. If you have questions or would like to sell your watch please call us anytime or come in and see us today!