The pre-owned Rolex market is on fire and the resale value of many Rolex models has never been stronger. According to Mills Menser, Founder of Diamond Banc, one of the nation's top jewelry buyers and lenders, several factors have aligned making now the perfect time to consider selling or borrowing against your Rolex. First, Rolex watches have always had strong value retention in comparison to other watch brands. They are well-crafted timepieces with classic looks that stand the test of time. Second, their craftsmanship is meticulous and labor-intensive, there is now more demand in the global market than there is a supply of new Rolex watches. And third, the popularity of online luxury resale sites has created more places for people to buy Rolex watches.
These last two factors are dramatically driving the price of pre-owned Rolex watches to never before seen heights. Watchmaking is a dying art and every Rolex is hand assembled by an expert horologist. There are simply not enough skilled craftsmen to keep up with the demand. New luxury resale websites are providing something consumers have never had before when buying online: expertise. These websites have an army of experts who can verify an item's authenticity before it ever gets listed so the consumer can feel confident in buying a pre-owned Rolex, making Rolex watches more liquid than ever.
Currently, the most sought-after models are the Submariner, GMT and Daytona. Some of these are so in demand that you are able to sell them for more than you originally paid for them. One such model is the Submariner 116610LV, commonly referred to as the “Hulk” for its green dial and bezel. This model originally retailed for $8,950, but depending on the condition sellers can get as much as $9,000 - $10,000 for this watch.
Another such model, which also happened to be nicknamed after a superhero, the GMT Master II 116710 or the “Batman” has a high selling price. This watch originally retailed for $8,950, but sellers can get as much as $9,500 depending on the condition.
Even the most recent all-steel black ceramic bezel Submariners like the 116640 are seeing really strong offers from buyers. This watch retails for $8,850 and can usually be sold for $6,500 - $7,000.
The primary similarity these super popular watches have in common, besides a superhero nickname, is that they are all-steel sports models. This seems to be the sweet spot for second-hand Rolex watches.
Due to these unbelievable resale values, if you’ve been considering upgrading your watch or no longer wear yours, now is the perfect time to sell. Interested in finding out how much a buyer will pay for your Rolex? For a free, no obligation quote, contact Diamond Banc, one of the nation’s top online Rolex buyer and jewelry equity lenders. Don’t want to sell your watch, but need money now? Diamond Banc is the premier Rolex equity lender in the country and can offer you top dollar when you use your Rolex as collateral for a loan. Take advantage of this market imbalance while you can. It is likely it will be short lived.