Selling a Rolex

[poppyhillsguy]

I inherited a Rolex and would like to sell it. How do I go about doing something like this since I don't know a fair value or reputable person/company to sell it to?

[Yanki01]

best to get with a few local authorized dealers for appraisal and go from there.

[MNGolfer03]

Take it to a local authorized Rolex dealer in your area and have them appraise it so you know what you have. Rolex tends to hold its value well, especially if you have service records and/or the original packaging. Check out the Golfwrx of watch aficionados at timezone.com's Sales Corner. You should be able to find some comparable watches up for sale on there to give you an idea of what the going rate is for that model. Which model of Rolex did you inherit may I ask. Might have a gold mine on your hands.

[poppyhillsguy]

It says "Rolex Datejust" on the face. Is that the model name?

[RJRJRJ]

Post a couple of pics as well as the first letter of the serial number.

[MNGolfer03]

Just a heads up, need to take the bracelet off to get the serial number between the lugs.

[toddnt]

If you take the bracelet off, dont loose the spring'y rod as it will jump off!

[poppyhillsguy]

Not going to take it apart since I'm bad with stuff like that.

The local Rolex retailer I went to tonight said it is a Rolex Datejust 18K stainless in good/fair condition. It has roman numbers, black face, and was probably $10,900 new.

They said they deal with a broker who would sell it for me. I'm not sure the the brokers cut (mentioned they want to make at least $2000), but 10% would go to the jeweler. I'd be paying two commissions which I don't like, but it seems like a very clean and easy way to sell it.

I tried to attach a picture, but attaching pictures was not worked for me on golfwrx no matter how small the picture is.

I'm going to go to another Rolex dealer in the next couple of days on your advice.

[whiteflash]

Watchuseek.com

[RJRJRJ]

I think getting some specific information from the dealer would benefit you when trying to sell it. The dealer can pop the band off in 2 secs, and give you the first letter of the serial. This will help determine the approximate age of the watch. If you want to get maximum value, you must have this information.

Also, pics posted here and elsewhere is vital. You're best off getting information from people who have no stake in the game than from the dealer who just wants a cut. Just knowing that it was "probably $10.9k new" doesn't really mean much as far as what you can expect at this moment.

[straightshot7]

I think you'd be better off selling it yourself on ebay, whatchuwant or a place like this https://www.bobswatches.com/sell-rolex-watch

Google sell a rolex

Just have the jeweler tell you exactly what you have, perhaps appraise it, and then sell it yourself

[PZero]

[quote name='poppyhillsguy' timestamp='1435108085' post='11822660']
I tried to attach a picture, but attaching pictures was not worked for me on golfwrx no matter how small the picture is.
[/quote]

Try hosting the image using Tinypic.com

You might be better selling it on a watch forum. Someone here could recommend you the best place for that.

[NuG]

The key to know here is the year it was made, serial # is the only way. Rolexforums.com is another site you can sell it on.

Good luck

[Wriggles]

[quote name='poppyhillsguy' timestamp='1435108085' post='11822660']
Not going to take it apart since I'm bad with stuff like that.

The local Rolex retailer I went to tonight said it is a Rolex Datejust 18K stainless in good/fair condition. It has roman numbers, black face, and was probably $10,900 new.

They said they deal with a broker who would sell it for me. I'm not sure the the brokers cut (mentioned they want to make at least $2000), but 10% would go to the jeweler. I'd be paying two commissions which I don't like, but it seems like a very clean and easy way to sell it.

I tried to attach a picture, but attaching pictures was not worked for me on golfwrx no matter how small the picture is.

I'm going to go to another Rolex dealer in the next couple of days on your advice.
[/quote]

The serial number will tell how old your watch is. It is where the lugs for the bracelet attach. I have a SS Datejust, bought in 1978 for $300. Unless your watch was bought fairly recently, I doubt it sold for $10.9K new. About 15 years ago, I happened to be in a jewelry shop that had the almost identical watch as mine. It was selling for $1,500. There's all kind of BS about Rolexes. A lot of them have been serviced by regular watchmakers, (including mine) not authorized Rolex people. That theoretically makes them non Rolexes to the Rolex company. Don't know how true, but I've read that if you send a Rolex back to the company for service, and they find non Rolex parts (crystal, spring, etc.) they will confiscate the watch as counterfeit.

My experience with jewelers is extremely limited. But I feel they work on the same basis as a car dealer. Bring in a car, they give you a book price, no matter what condition it's in, tell you the car needs certain items restored. Twenty years ago, I was told that a dealer would not sell a certified 2 year old Cadillac unless $5K was profit on the deal. At the time, a 2 year old Cadillac sold for $20K, (original cost 35K or so) so how much trade did the original buyer get?

I doubt you'll get anywhere near the $10.9K it costs new now. Selling the watch yourself is the best option. But that can be a hassle, too.

Good luck!

[RJRJRJ]

[quote name='Wriggles' timestamp='1435140988' post='11824394']
[quote name='poppyhillsguy' timestamp='1435108085' post='11822660']
Not going to take it apart since I'm bad with stuff like that.

The local Rolex retailer I went to tonight said it is a Rolex Datejust 18K stainless in good/fair condition. It has roman numbers, black face, and was probably $10,900 new.

They said they deal with a broker who would sell it for me. I'm not sure the the brokers cut (mentioned they want to make at least $2000), but 10% would go to the jeweler. I'd be paying two commissions which I don't like, but it seems like a very clean and easy way to sell it.

I tried to attach a picture, but attaching pictures was not worked for me on golfwrx no matter how small the picture is.

I'm going to go to another Rolex dealer in the next couple of days on your advice.
[/quote]
Don't know how true, but I've read that if you send a Rolex back to the company for service, and they find non Rolex parts (crystal, spring, etc.) they will confiscate the watch as counterfeit.
[/quote]

No thats not true. They'll replace those parts and charge you for them though.

[jkc-rva]

Check out watchuseek as stated above, if you haven't already. Great place to buy, sell, and learn more about watches. While the trolls are everywhere there are plenty of helpful people there as well.

[ckay]

Go to rolexforums.com and sell it.

[clinkinfo]

[quote name='ckay' timestamp='1435256755' post='11834034']
Go to rolexforums.com and sell it.
[/quote]


A couple quick things from a watch collector:

-the datejust is probably the most knocked off Rolex on the planet. Not saying yours isn't real, but I've heard story after story of people inheriting what they think is a real Rolex only to find out it's fake. Some fakes will fool a jeweler until they open the case back. You do not want to accidentally sell a fake. You won't get the watch back AND you won't get to keep any money. A true evaluation by a watch expert would be a good investment, especially if you're going to sell the watch yourself.

-the appraised value is NEVER anywhere near the selling price. I know it's not going to sound reasonable, but appraisals are for insurance companies and are generally very generous. When you go into the market selling, the actual selling prices of used Rolex's do not match those appraisal numbers.

-the specific model of datejust will affect the value. Certain colors are more desired, two tone changes the value....there are even a few Rolex models that had "bloopers" along the way which can fetch stupid amounts of money like that upside down stamp.

-watch collectors have very specific criteria they look for when grading a high end watch's condition. They will look at the watch with a loop, and will see things you don't pickup as a layperson .... Which leads to the next point:

- Rolex watches will sometimes be "refinished" or "re-dialed". Sometimes that means someone overhauled the original dial (repainted the numbers, re-did the hour markers, etc). Sometimes they have changed the dial all together with an aftermarket one. All these things can affect the value tremendously.

-mechanical watches (which Rolex's are, with a few exceptions...) need periodic servicing to run properly. There's a certification known as chronometer, which essentially indicates that the watch runs within a certain number of seconds per day. Over time, gaskets and seals degrade and the watches tend to run outside of their acceptable limits (meaning they are running too fast or slow each day). Its expensive to have a service done, so if it's 15 years old and you don't know the service history, the value drops significantly.

In the end, you really should go to someone who deals in high end watches and PAY THEM to give you a reputable report on the watch before you try and sell it. Make sure they clearly indicate the condition, indicate any work they think has been done, time the watch over a few days to give an accuracy report, and they can also give you a real "street value" estimate, not simply an appraisal number.

Hope that helps a little!