A Rolex watch is firmly established in the public consciousness as one of the ultimate status symbols, so it is no surprise that so many people seek to buy them. However, while many people automatically opt to buy a brand new model, we believe people should consider purchasing a pre-owned Rolex instead. Here are eight reasons why.
1. It is cheaper to buy a pre-owned Rolex
The first and most obvious advantage to buying a pre-owned Rolex, rather than a brand new one, is the price you will pay. A brand new Rolex watch can be an expensive and daunting investment, especially for the first-time buyer, but picking up a used model can reduce the outlay significantly.
Compared to many other brands, Rolex watches retain a lot of their value even after use. Nevertheless, the price of a pre-owned Rolex will still be significantly cheaper than buying brand new. This allows more people to afford a Rolex and may also allow you to buy a more extravagant watch, rather than an entry-level model.
2. Second-hand Rolex watches depreciate in value slower
The single biggest moment of depreciation for a watch is the moment when it goes from being ‘new’ to ‘pre-owned’. Therefore, when you buy a brand new Rolex, it depreciates in value instantly, even before it has sustained a single scratch or lost a single second in time. By contrast, second-hand Rolex watches depreciate far slower.
Put simply, this means that should you ever decide to sell your watch, you will take less of a hit. Chances are, after a year of use, your second-hand Rolex will be worth roughly the same as it was when you bought it. Conversely, a brand new Rolex, after one year of use, will be worth substantially less than it was when you bought it.
