So you’re buying a Rolex, right? Maybe it’s your first one too? Well, here are 5 things to consider when making that decision to purchase it. We at Lux Horology love to make the task of buying a watch, that little bit simpler. Sure, you could go ahead and buy a Rolex, and not think twice about it, but if you’re the gentleman who wants to make sure that the Rolex you buy, is the one watch that never gets old – you are in the right place, because we discuss 5 things to look out for, and why they’re important, when making your decision.
These are 5 things to look out for when buying a Rolex:
1. THE PRICE OF THE ROLEX
When buying a Rolex, considering the price is a pretty big part of it. You can either afford the watch or you cant, it’s pretty simple. However, the price of the watch links into the idea of an investment, but we’ll talk more on that later.
The price of a Rolex varies widely due to many factors, including scarcity, which interlinks with supply, and also demand. The scarcity comes from Rolex having waiting lists etc. for brand new Rolex’s. This is where the grey market comes in, which is a place where you can find these watches, but you’re going to have to pay a premium price for them.
With this grey market being in place, the price of Rolex’s have been increasing rapidly, with many fetching percentage increases well above 100%. So this is something to consider when buying your Rolex. The price you pay will depend on your willingness to be put on a waiting list, or the fact that you’re wanting your watch right there and then.
2. THE DESIGN OF THE ROLEX
The design of the Rolex might be a self-explanatory one, but it’s an important one – especially when you dissect it, and understand the different elements involved. A lot of these categories, can also be applied to any watch you’re buying. So, let’s first begin with the colours:
The colours of the Rolex:
Rolex watches are obviously designed and created using different colours, but it’s up to you, to find the right style for yourself. Think about the colour you wear most, this usually helps determine the colours implemented within your watch. For example, if you wear green a lot, then your watch should have some green, but if you wear black a lot, then a simple black dial Submariner would do just the trick.
The materials of the Rolex:
When it comes to the materials of your Rolex, some precious metals are softer than your run of the mill stainless steel, and it’s important that you choose the material wisely. However, that’s not to say stainless steel isn’t a good choice, because it is. Stainless steel is roughly 4 times lighter than gold, it also is a lot more resistant to scratches than other precious metals, as well as being more affordable within the watch world. Although, in saying this, gold is considered a lot more luxurious, and if that’s what you’re after, maybe go for the precious metals instead.
The design of the Rolex:
This refers to the model of the Rolex, an example being a Submariner, GMT Master, or even a Daytona. So, just have a look at the different models and the designs they have, as everyone has their own taste and style.
The features of the Rolex:
This is an important part of the process, as it is best to get a watch which has features accustomed to you, and your personality. This also goes for someone who works abroad a lot, or travels all the time – an example being a GMT watch, which allows you to view two time zones.
3. THE HISTORY/ HERITAGE THAT THE ROLEX HOLDS
When buying a Rolex, it’s usually to mark a milestone or an achievement, but it can also be… just because you want a Rolex. But if you are interested, in lets say, your first one, then it’s important to carry a piece which holds history and heritage. Now this is fairly easy to find with Rolex watches, as they all hold their own individual stories – but it’s up to you to find your favourite story, and see how if it relates to you. The idea behind this, is to further add that personal touch to the watch, which in turn makes you fall in love with it even more.
4. THE POSSIBLE INVESTMENT ON A ROLEX
When buying a Rolex, it’s inevitable that the thought of a possible rise in price will run through your mind, and this is a normal occurrence, and actually an important one – because a Rolex can increase in upwards of 100% if you’re lucky (that’s if you’re going to sell it). Even if you aren’t trying to sell it, it’s always nice knowing your watch has gone up in value.
Now, in saying this, not every watch is going to increase in value, not will it always stay the same in value. So, before you buy your Rolex, if you’re wanting it to hold it’s price for years to come, or potentially increase in value, then we’d recommend doing your research first, and take a look at some charts etc, to see those price changes fluctuate over the years. A good place to find watch price charts is here.
5. SHOULD YOU BUY A PRE-OWNED OR BRAND NEW ROLEX?
Now there are many benefits of buying a pre-owned Rolex, which includes the more affordable price of course, which is the main reason people buy their watches pre-owned. However, this is part of your consideration when making that decision to purchase, because it could save you a couple of quid, if you’re not that fussed if it’s brand new or not, or you could buy a brand new one, which will obviously cost more.
The choice is yours, but it’s definitely something to consider when buying your own Rolex. What do you think you would choose? The brand new or pre-owned Rolex?