How Much Should I Pay for a Used Rolex?
If you’re interested in accessories or watches, then you’ve certainly heard of Rolex. Since the early 20th century, the Swiss brand has created state-of-the-art watches. Unlike many luxury brands, most Rolex watches gain value over time due to brand recognition and high-quality workmanship. This makes used Rolexes highly sought after and some of the most popular items in our Phoenix pawn shop. But how much is a Rolex watch worth, and how can you get the greatest value when you make your purchase? Our team of experts at Mo Money Pawn Shop is glad to help answer your questions.
Factors to Consider When Buying a Used Rolex
There are many things to consider when buying a used Rolex at our warehouse or anywhere else.
- The general condition of the watch- A like-new Rolex will always cost more than one of its scuffed and stained counterparts. However, Rolex is renowned for its high-quality construction, and a lot of cosmetic issues can be easy and inexpensive to fix on your own.
- The age and rarity of the model- Vintage Rolexes, especially ones from the 1950s and 1960s, usually command a price premium due to their rarity.
- The popularity of the model- Top-rated models like the Daytona and Submariner tend to have higher prices than lesser-known ones.
- Market trends and changes in demand- Supply and demand dictate the value of everything, and Rolex watches are no exception. Even changes in fashion can impact the average Rolex price.
Understanding The Market Impact on Rolex Values
There are two main prices to consider when considering any Rolex watch’s cost. The retail price is the original cost set by the Rolex company. Meanwhile, the market price (or fair market value) is what customers are willing to pay for a Rolex. This second figure can vary significantly over time, and when a specific Rolex model or design becomes popular, vintage watches of similar designs tend to spike in price. Retail prices for Rolex watches also impact market prices since collectors and sellers pay close attention to them when setting their prices.
Factors that Affect the Price of a Used Rolex
A Rolex’s value can change based on a variety of factors. The most common factors that impact Rolex prices are as follows.
- Dial type and color- Blue and black dials are the most common and will be much easier to find at an affordable price. Rolex’s signature green dials can be rare to find, and a watch with a well-aged tropical dial will likely go for a hefty premium.
- Bezel material- Ceramic bezels are more sought-after than steel ones.
- Metal colors- Yellow gold, white gold, and Everose all have different price tags depending on supply and demand.
- Age of the watch model- Vintage Rolexes are harder to find than new ones, and this is often reflected in their price.
Get the Best Used Rolex Prices at Mo Money Pawn Shop
If you’re looking for the best deal on a used Rolex in Phoenix (or anywhere in the East Valley), come to Mo Money Pawn Shop first. We have more than 35 years of experience buying, appraising, and selling high-end accessories, and we see a huge selection of Rolexes in our spacious showroom on East Indian School Road. We’re open daily from 10 AM to 7 PM. If you have any questions about buying a used Rolex or simply want to know what we have in stock, please contact us online or call us at 602-279-4417.