Feb 24, 2023

How Much is Rolex Worth

You may have pondered how much your prestigious Rolex is worth. As we reassess our jewelry inventory, we realize fashion trends come and go, personal styles get updated, and sometimes we just need a quick way to make some extra money. What's better than passing along your once-beloved Rolex to a new watch-lover?

Before you post a listing online or seek out the help of a watch reseller, there are some key fundamentals you need to evaluate regarding the condition and quality of your Rolex watch. You'll need to understand how the value of a Rolex is determined, including some of the most popular and iconic models.

Diamonds Above Fine Jewelers is committed to helping you get the best price for your pre-owned Rolex and answering the question of where to sell a Rolex in Austin, Texas!

Understanding the Value of a Rolex Watch

Rolex watch buyers, resellers and appraisers will tell you there are a handful of factors that contribute to the overall reselling price of your luxury watch. Some essential indicators include:

  • Branded influence
  • Current fashion trends
  • Model and type
  • Materials used
  • Limited edition status
  • Condition
  • Age
  • Original documentation

Diamonds Above is a member of The International Watch and Jewelry Guild, which allows us access to a national network of watch dealers, clients and jewelry stores. We work with professionals to determine how your pre-owned Rolex measures up to the current luxury watch market. By reaching out to expert appraisers, we can provide you with an accurate resell price that is both rewarding for you and appreciated by Rolex watch buyers.

Rolex watches are iconic pieces of jewelry and are recognized and desired globally. Because of their luxury brand status, these watches can retain their original value well.

One of the most important things to remember, however, is that sentimental value does not equal retail value. For example, if you were gifted a Rolex at your high school graduation and carried it through your college years, career moves and marriage, a potential buyer might only see it as a Rolex from 15 to 20 years ago, not as a piece of jewelry that has gone through life with you.

When you reach out to Diamonds Above with some key identifying information, we'll work closely and transparently with you to determine the best resale value.

The Importance of the Model and Serial Numbers

You might think these numbers are "just numbers," but they are actually vital indicators that Rolex watch buyers want to know! The model number is a clear indicator for which design or "collection" the watch falls under. With the model number, any buyer or appraiser will be able to identify which design, materials and features your Rolex has.

Some of the most iconic and popular pre-owned watches we sell include:

  • Rolex Submariner
  • Rolex Oyster Perpetual
  • Rolex DateJust
  • Rolex Explorer
  • Rolex Explorer II
  • Rolex GMT

Many of these model types are made from stainless steel, while others are gold or gold variations. Material types are important to consider, as they can directly affect the value of your Rolex when attempting to sell to potential buyers. Considering current market values, a stainless steel watch will not be as prize-worthy or desirable as a gold-plated watch. A Rolex Oyster Perpetual, for example, is one of the oldest Rolex models available but also tends to not be worth as much due to its stainless steel build.

In addition to the model, the serial number can be just as essential in determining the price of your Rolex. A watch's serial number is a way to identify the production year of the watch, not only referencing its age but also verifying its authenticity to the buyer.

Whether or not you have your original certification papers from when you purchased your Rolex, you can confirm both the model and serial number in these locations on the watch:

  • Model:The model number is on the watch case between the lugs at the 12 o'clock hour (the top of the face).
  • Serial:The serial number is in the same position (between the lugs) but at the bottom 6 o'clock hour.

These numbers are crucial when declaring whether your Rolex is "rare" or "hard-to-find." If you're looking to resell your Rolex as a rare item, the serial number can quickly confirm the authenticity of this statement.

Why Rolex Watch Buyers Love Original Documentation

Rare watches tend to be more expensive when reselling. The "uniqueness" factor can make your Rolex more valuable to the buyer, and it also becomes more enticing, as it is harder for the buyer to find the watch elsewhere. But how can you further attract the interest of a potential buyer?

Whether you are the sole purchaser of the watch or you came across the watch as a gift, you should always request the original documentation and packaging of the Rolex. There are some scenarios to consider here to support why Rolex watch buyers want to see those original papers:

  • If someone told you this watch was from the 1950s and it has been thoroughly inspected and maintained over the years, wouldn't you want to verify the actual age and production date?
  • If you're considering purchasing a luxury brand item, don't you want it to be prepared and presented in a branded, elegant package?
  • If you're planning on continuing and maintaining the condition of this watch, wouldn't you feel more at ease knowing you have the original documentation to take to any jewelry care or repair specialist?

Including the watch's original paperwork not only adds extra value to your Rolex, but it can also add reassurance to the buyer considering the purchase, and can even encourage someone to pay more for your watch.

Consider the Condition of Your Rolex

One of the most important factors to consider is the actual condition of your Rolex watch. Just like with a car or a house, if your item is not properly maintained, the selling price and overall value decrease.

If you're considering selling a Rolex watch, you should be proactive in your care and maintenance routines. For example, you can take your watch to get cleaned and inspected twice a year or as needed. Rolex watches are a luxurious brand and are built to last for generations, but not without proper care from the owner.

Minor and shallow scratches can generally be buffed out and removed to ensure a smooth finish and luxurious appearance. Some conditions that could negatively affect the value of your Rolex include:

  • A stretched-out bracelet
  • Missing bracelet links
  • Discoloration of the metal or material
  • A mislodged dial piece
  • Slow or crooked internal watch movement

By taking proper care of your Rolex, you can increase the value of your watch as well as the potential interest from Rolex watch buyers.

Where to Sell Your Rolex in Austin, Texas

If you're the owner of a Rolex watch you're ready to part ways with, there's no better place to go than Diamonds Above. As a private and local fine jewelry and watch store in Austin, Texas, we commit ourselves to a customized experience with every customer. We will work one-on-one with you to ensure the best price when you sell your Rolex. Please contact us online directly with the required information, or call us at (512) 206-4156.

Complete the form & get a response from us soon!

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.