Rolex experience?

[97guns]

I’m looking to drop a few thousand on a couple of used Rolex’s, I see older date adjusts and air kings going for around $2k that are in nice condition.

My reason for purchase is not for show and tell, I will wear mine but the purpose of the purchase is not so much for investment but preservation of the outlay of cash. I’ve always heard Rolex’s hold their value, just curious if there are any first hand experience here with these really holding value. that is all I’m expecting from the purchase, things that appreciate rather than depreciate peak my interest

 

[dirt_dobber]

I don't have any info about this - but it is something I've always wondered about
so count me as subscribed to this thread. Hope you get some answers.

 

[Senator]

I had a counterfeit Rolex for a long time. Looked almost exactly like the real thing. I think I paid $17.

I do believe the fake Rolex kept better time than a real Rolex, as the fake was Quartz.

 

[SheitlQueen]

I'm wondering if the value of watches won't decline due to cell phones. Most people I know don't wear a watch any longer; if they need to know the time they pull out their phone.

 

[FlaGator]

I’m looking to drop a few thousand on a couple of used Rolex’s, I see older date adjusts and air kings going for around $2k that are in nice condition.

My reason for purchase is not for show and tell, I will wear mine but the purpose of the purchase is not so much for investment but preservation of the outlay of cash. I’ve always heard Rolex’s hold their value, just curious if there are any first hand experience here with these really holding value. that is all I’m expecting from the purchase, things that appreciate rather than depreciate peak my interest

Have owned 2 since 1985:
1. Submariner w/black face and bezel, stainless bracelet. Paid $900
2. Lady's Datejust with gold and stainless jubilee bracelet, gold bezel and tapestry face. Paid $1,800.

The Sub was worn daily for 20+ years until I opted for a lighter weight titanium watch. It needs an overhaul, possibly a new bracelet (a bit loose at pins on the clasp), maybe a new face and bezel.

Late wife wore her watch daily for ~25+ years, then occasionally thereafter. In better condition than the Submariner, but due for service.

Both are in their original boxes and will be given as college graduation gifts to my kids. I'll cough up the money to have them serviced and brought up to spec as that time approaches.

As to "holding their value", you can look up current estimated value with the info I provided. I'm not going to sell them, nor buy another, so their "worth" doesn't matter to me.

After my experience as a long-time owner, I wouldn't buy another one. Heavier on the wrist than I like, periodic maintenance at several hundred $$ each time and neither of them kept accurate time. And at current prices, I see them as a luxury item that I'm no longer willing to pay for.

 

[cooch96]

I like watches a lot and respect the Rolex brand. I acquire wristwatches solely for the sake of pride of ownership, the attractiveness of socially acceptable man-jewelry, and the functionality of wearing a watch.

Quality watches hold their value okay. Sorta like oriental rugs. If you buy it for $3k, you can sometimes sell it for $3k, but typically you lose out due to inflation. Also, there are maintenance costs with mechanical watches: the barrel spring can become magnetiz3d and will need degaussing; they should be serviced and lubricated every few years and that will cost between $40-$200, depending on where you live.

Rolexes are quality timepieces and behave like any other collectible. Sometimes they’ll double in value in four months, but usually they don’t. It’s speculation more than preservation or investing.

Also, the Chinese watch companies are starting to churn out high quality mechanical watches as fractions of the price. Not even just knockoffs, many watch enthusiasts respect Seagulls as much as Omegas or Breitlings. So I suspect the market is going to continue to flood.

May I ask why Rolex? A slightly more exotic brand like jaeger-lecoultre, Patek-Philippe, or vacheron-constantin is more likely to hold steady or rise in value.

 

[USGrant1962]

I had a counterfeit Rolex for a long time. Looked almost exactly like the real thing. I think I paid $17.

I do believe the fake Rolex kept better time than a real Rolex, as the fake was Quartz.

Real Rolexes are crap for keeping time. Mine loses a minute a week.

I'm wondering if the value of watches won't decline due to cell phones. Most people I know don't wear a watch any longer; if they need to know the time they pull out their phone.

Rolexes are not watches, they are jewelry. I don't think cell phones will affect their value. Interestingly, both my millennial kids like wristwatches (well, besides their interest in my Rolex).

 

[Sunset]

How about buying forever stamps, their value increases each time the post office raises the rates.

This year it is 1 cent from 49 to 50 cents, so that is just over a 2% increase.

 

[CaliKid]

I had one. They are bad watches in that they don't keep good time. My got stolen and I didn't buy another. Also it's pretty nouveau/ostentatious in my opinion. If I was single and looking to pick up a certain type of gal I'd get one again. Buy yourself a nice Timex and take a little vacation with the savings. Plus, don't forget those things are supposed to be serviced every few years for another $500+.

 

[97guns]

May I ask why Rolex? A slightly more exotic brand like jaeger-lecoultre, Patek-Philippe, or vacheron-constantin is more likely to hold steady or rise in value.

I’m open to any brand that will hold value, Rolex and Harley Davidson come to my mind when I think of holding value. I am also looking to Rolex because I feel it has the largest market, if and when I need cash out of it I want the largest pool of buyers I can get, I’ve never heard of those brands you mention.

 

[Senator]

If I was single and looking to pick up a certain type of gal I'd get one again.

That is exactly why you buy a counterfeit one...

 

[folivier]

I bought a Submariner in 1997 while on a trip to the USVI for $1800. Wore it until about 6 months before retiring 8 years ago. The locking clasp on the bracelet broke and since I was retiring I saw no need at the time to wear a watch. So put it in the original box.
A couple weeks ago I found it in the safe. Started checking and sold it with the broken clasp for $4100 to a local jeweler who deals in used Rolexes. So yes, they do keep their value.
And since it was worn daily it did have light scratches on the bracelet and case. The crystal was in great shape. I've always been rough on watches and have broken almost every other one I've had.
Oh yeah, I never did have it serviced. It did lose a minute or 2 every few days. So since I used it for 21 years and sold it for more than double what I paid I would buy another one. If I had any use for a watch....

 

[FlaGator]

I’m open to any brand that will hold value, Rolex and Harley Davidson come to my mind when I think of holding value. I am also looking to Rolex because I feel it has the largest market, if and when I need cash out of it I want the largest pool of buyers I can get, I’ve never heard of those brands you mention.

I would be cautious about thinking H-Ds "hold value".

They are even more a mechanical device than a self-winding watch and subject to obsolescence, sub-standard maintenance, and owner abuse.

I think of them more a mass-market consumer product than luxury item (to the extent a $20,000, easily-financed recreational product can be), and they have the ability to increase production. When I was riding bikes in the early-mid 90's H-D's theoretical capacity was ~100,000 units/year, and they were selling <80,000. Last year they made about 160,000.

Their market isn't a certainty either. https://www.usatoday.com/story/mone...16-sales-dip-and-2017-flat-forecast/97276960/

 

[athena53]

I bought a used one about 10 years ago; it was made in 1983 or 1984. I've had the same issue with accuracy although this last overhaul seems to have helped considerably. Totally agreed on steep maintenance. Last time I hadn't had it in for maybe 3 years and the overhaul was almost $1,000.

Also- beware of wearing it freely in water, especially chlorinated. I swam in my home pool almost daily in the summer for a few years and the rubber seals deteriorated. The inside of the watch pretty much had to be replaced, costing pretty much what I'd paid for it years earlier. I should have had it maintained annually under those conditions.

I don't regret the decision to buy it- it IS a beautiful piece of jewelry- but I'm unlikely to buy another one.

 

[CRLLS]

That is exactly why you buy a counterfeit one...

My basic Rolex (Clone, bought in China) lost a screw in the wristband. I wish I could get it fixed. The Rolex clone I bought my son is still running well after 10 years.

I don't always wear a flashy watch, but when I do, I prefer my Patek Philippe skeleton watch (clone). After all, my 100+ yr old Elgin gold filled pocket watch is soooo pretentious.

 

[RobbieB]

When the time comes that you need "cash out of it", you will be better served by having the cash in the mattress me thinks.

 

[FlaGator]

When the time comes that you need "cash out of it", you will be better served by having the cash in the mattress me thinks.

+1

And if you haven't heard of Patek Phillipe, Jaeger-Lecoultre, Vacheron-Constantin, Breitling, or Omega, you're the sucker at the poker table when it comes to the resale watch market.

 

[zinger1457]

I don't always wear a flashy watch, but when I do, I prefer my Patek Philippe skeleton watch (clone). After all, my 100+ yr old Elgin gold filled pocket watch is soooo pretentious.

Some will go to great lengths to be 'pretentious'. Met an older gentleman from Austria a few years ago while taking a class at a local college. Noticed he was wearing a Rolex and complemented him on it. He went into this long story of how he got it, he worked at a resort in the Alps and became good friends with a King from a small country who gave it to him as a gift. As he was telling his story I noticed the second hand on his Rolex was stepping instead of moving smoothly, one of the main indicators of a fake, didn't push him on it since the story sounded so good. A few weeks later went out to dinner with him and his wife and during dinner she showed me her Rolex and joked how they had picked up fake his/her Rolex's while visiting Hong Kong.

 

[FUEGO]

My ornery yet sometimes-funny now-deceased grandmother bought the whole family a set of Rolexes for Christmas one year. I wore mine occasionally but it's been sitting in a drawer somewhere (no clue where offhand) for quite some time.

I assume these Rolexes were fake and she bought them for $10 or so at the flea market or in a Chinatown somewhere. It kept time pretty well and looked nice for a watch but it's pretty useless other than as a fashion accessory.

If I really wanted to put some cash into something physical that would hold value over time I'd probably pick up some gold or silver Eagle coins. The value will fluctuate with the bullion market but over 100 years or so they probably will be worth about what they are worth today. Maintenance is pretty minimal. Easy enough to insure if you want to go that route. And compact if you want to store them ($100,000 worth of Gold Eagles would easily fit in a small coffee can or a spaghetti sauce jar).

 

[travelover]

I'd guess that Rolexes are a better bet than Beanie Babies.

 

[Senator]

Some will go to great lengths to be 'pretentious'. Met an older gentleman from Austria a few years ago while taking a class at a local college. Noticed he was wearing a Rolex and complemented him on it. He went into this long story of how he got it, he worked at a resort in the Alps and became good friends with a King from a small country who gave it to him as a gift. As he was telling his story I noticed the second hand on his Rolex was stepping instead of moving smoothly, one of the main indicators of a fake, didn't push him on it since the story sounded so good. A few weeks later went out to dinner with him and his wife and during dinner she showed me her Rolex and joked how they had picked up fake his/her Rolex's while visiting Hong Kong.

Wasn't me... But close.

 

[Texas Proud]

My BIL had an expensive one... diamond bezel and diamond mother of pearl face... IIRC he paid north of $15K for it... after he passed my sister was only able to get a bit over $8K for it (during the financial crisis)... I was looking at some online and I think they sell for over $35K new...


The price of gold make a big difference in their value if you buy a gold one...


I do remember that he had to take it in every once in awhile to have it worked on at a decent amount that would buy a pretty nice watch on its own...

I do not see it as an investment.... I would rather buy gold coins if I wanted to own gold...

 

[flintnational]

If I were buying, I would wait until the next downturn. I suspect art, watches and other used high end discretionary luxury goods have wide price swings based on where we are in the economic cycle.

 

[REWahoo]

I’ve always heard Rolex’s hold their value, just curious if there are any first hand experience here with these really holding value.

This may help answer your question:

If I were buying, I would wait until the next downturn. I suspect art, watches and other used high end discretionary luxury goods have wide price swings based on where we are in the economic cycle.

 

[donheff]

I never could understand expensive watches, especially Rolexes since they are so heavy. I was given an Omega Seamaster in the 70s as payment for some task and liked how it looked. But, like the Rolexes mentioned here, it didn't keep great time. It was supposedly water resistant but it got moisture under the crystal. I had it serviced and that cost a fortune. Now I wear a simple Seiko that looks fine and keeps excellent time forever.