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Rolex buying advice

Discussion in 'Fine Watches, Jewelry, & Clothes' started by A348W, May 9, 2019.

  1. A348W

    A348W Formula Junior

    Jun 28, 2017
    887
    North Wiltshire, UK
    Looking at getting a Rolex date just or day-date just later this year.

    Having a look at what is available, what I like and budget, it will likely be a 2nd hand watch circa 60s. I like white dial, gold/rose gold case, with leather strap!

    Are there any particular risks of buying a watch of that age? Am I setting myself up for potentially big repair/service bills due to the age and wear on the mechanism or are they fairly bullet proof.

    Much appreciate peoples thoughts.
     
  2. dgulling

    dgulling Rookie

    Oct 19, 2018
    4
    Pretty reliable - super low risk in my opinion

    Look at DavidSW online - he’s very reputable and low cost


    Sent from my iPhone using Tapatalk
     
    schwoo likes this.
  3. dgulling

    dgulling Rookie

    Oct 19, 2018
    4
  4. bpu699

    bpu699 F1 World Champ
    Silver Subscribed Owner

    Dec 9, 2003
    10,163
    wisconsin/chicago
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    bo
    Buying a rolex is like putting money in a CD... it may not make much, but its pretty much always worth at least what you paid...

    Servicing a rolex is $600-1000, every 5 years or so. I usually wait until it acts up... Parts aren't that bad. Crystals are about $100.

    Consider going new, it isn't that much more. Rolexes hold their value very well...

    A new entry level mens rolex is probably $5000. Look at the Air Kings... I actually liked them...

    A SUB is always a great first rolex, highly desireable... About $8000 or so...
     
    albert328gts likes this.
  5. arizonaitalian

    arizonaitalian F1 Veteran
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    Oct 29, 2010
    9,984
    Wyoming
    I dunno...I lost over $2000 on a Polar GMT that I owned for a year. Paid retail $8100, sold it here for $6000 (was getting wholesale offers further below that of course).
     
  6. bpu699

    bpu699 F1 World Champ
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    Dec 9, 2003
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    bo
    How long did you keep it? A year isn't enough. Rolex raises prices about $500 a year or so on new models of the same watch...so older watches rise with that...

    I bet most stainless subs, GMT's, etc, would be break even after 5 years...

    Now, if you buy a diamond encrusted yellow gold piece...then all bets are off...
     
  7. cwilson13

    cwilson13 Formula Junior
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    Aug 20, 2012
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    Atlanta, GA
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    CWilson
    If you are looking for a nice vintage Datejust or DayDate, you might want to look at HQ Milton (Jacek).

    He is very well known and a straight shooter on vintage Rolex. Easy to deal with.

    https://www.hqmilton.com
     
  8. A348W

    A348W Formula Junior

    Jun 28, 2017
    887
    North Wiltshire, UK
    Many thanks for the responses.

    Milton certainly has a nice stock, and a lot better quality/price than places over here where they are pushing stock without boxes and papers!

    Air Kings is a nice idea, and looking at the Rolex website I actually rather like the Oyster Perpetual for a subtle everyday watch. My other watches have date functions and are always wrong so why bother for a daily watch!?

    We will see where the money is when the time comes, but thanks for the reassurance on the older watches...now I have too much choice LOL!
     
  9. poljav

    poljav Formula 3
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    Nov 2, 2014
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    Pol J.
  10. Dbacr

    Dbacr Karting
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    Jul 1, 2015
    142
    Ft lauderdale, FL
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    Dan
    My favorite daily is the Milgauss. I bought second hand about 5-6 years ago. It hasn’t lost a nickel. I bought a Sub in 1990. I never took it off for probably 20 years. Now my wife wears it. They never go out of style.

    The mil flies under the radar and is super comfortable. It does get lots of compliments from watch people.
     
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  11. 88Testarossa

    88Testarossa Formula 3

    Sep 25, 2012
    2,377
    Annapolis, USA
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    Al
    I started with a Submariner, then an 18kt Presidential Day/Date and now wear an 18kt Daytona.

    I never lost on money when trading up. Buy the best you can afford today and enjoy it. Just buy it from a reputable Rolex dealer — there are way too many Chinese fake watches out there. Caveat Emptor.


    Sent from my iPhone using Tapatalk
     
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  12. jjmcd

    jjmcd Formula Junior

    Dec 3, 2004
    489
    Principissimo likes this.
  13. cls

    cls Formula 3
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    Jun 12, 2007
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    Los Angeles/Montreal
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    Chris
    Do some research on Maron first. He has a well publicised spotty history with vintage Rolex.
     
  14. dustman

    dustman F1 Rookie

    Jun 12, 2007
    4,099
    Like the air king look. Seems like trade in value is thousands less though. Newbie on rolex here but concerned also some do not hold value. At least short term.
     
  15. arizonaitalian

    arizonaitalian F1 Veteran
    Silver Subscribed Owner

    Oct 29, 2010
    9,984
    Wyoming
    Bingo. Its not a CD* for "common" steel models. (I have no idea about gold, those might be worse).

    Unless you like the idea of investing in a 10+ year term for 0% interest (or less).

    The 5-year term "rolex CD's" for things like an Air King or Explorer or EII have negative rates.
     
  16. gh0st0

    gh0st0 Formula Junior
    Silver Subscribed

    Jul 2, 2018
    898
    Midwest
    If you’re looking for an investment with a return, don’t look at watches. Watches should be treated as a expenditure, same as any depreciated item. Rolex produces over a million watches a year, there is no scarcity there.
     
    ronfrohock likes this.
  17. Surfah

    Surfah Formula 3

    Dec 20, 2011
    2,413
    +1. The frenzy over SS Rolex models is a recent event and limited to certain models i.e. Batman, new Daytona, blue-faced Skydweller. I have the Batman which has maintained it's value for a 5+ year-old watch. However, my blue face Datejust with Jubilee bracelet and white-faced Explorer II were traded-in significantly below original sticker.
     
  18. ersatzS2

    ersatzS2 Formula Junior
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    Jan 24, 2009
    793
    Norfolk VA
    Maybe folks on this thread can enlighten me: I’d like to get a Rolex GMT Pepsi. The Rolex website lists the price in steel of about the $10,000. But prices for used watches from venders on this thread are much higher, eg, Milton at ~$19,000. What is going on? MSRP vs. dealer markups? Scarcity? Does the ‘Frenzy’ in the previous post refer to the market bidding these up instantly? Thx
     
  19. gh0st0

    gh0st0 Formula Junior
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    Jul 2, 2018
    898
    Midwest
    Rolex isn’t a scarce watch, it’s demand and what people are willing to pay for them that’s driving the price. It’s just the watch market right now, everything used to be sub msrp, now you’d be lucky to get anything at msrp that’s in demand.
     
  20. ersatzS2

    ersatzS2 Formula Junior
    Rossa Subscribed

    Jan 24, 2009
    793
    Norfolk VA
    OK now I've done some research and answered my question: out of control new product demand! Wow, interesting. I'm neophyte with watch purchase, but situation looks like ticket scalping world. Well this is how markets work...
    Funny had a similar experience recently looking at ordering a new G-Wagen: Mercedes dealers are actually holding 'sealed offer' auctions for allocations of G63s. First re-design in 40 years I guess moved a lot of folks off the fence, similar to the Pepsi!
     
  21. dustman

    dustman F1 Rookie

    Jun 12, 2007
    4,099
    Like paying over for the Range Roger 5yrs ago, or 911R, GT3RS etc. Big laff.
     
  22. JAM1

    JAM1 F1 Rookie
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    Oct 22, 2004
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    Joe
    The issue is it’s a self perpetuating market, until it’s not. Currently there are lots of guys that are willing to pay well over list for “tough to get” watches because of the perceived investment value. But that value is primarily driven by scarcity which is caused by everything selling out immediately, with much of it going to guys who are flipping and not actual end users so the scarcity at the source is artificially manufactured. Rolex and even Patek are aiding in the frenzy by holding watches back or having dealers keep “rare” models in the vault to create buzz. Lists and nonsense make it worse because nothing makes someone want something like telling them they cannot have it. PP even announced they will not increase stainless production to meet demand, which only increases demand for the stainless watches.

    At some point it’ll hit a wall. Credit buyers will flee the market. Liquidity will reduce prices/perceived values and there will be a rush for the doors. At that point the market will get crushed. Then it’ll be time to go shopping!
     
  23. Drive550PFB

    Drive550PFB F1 World Champ
    Rossa Subscribed

    I have owned half a dozen Rolexes. I currently own 4.

    Every one that I have sold has sold for far less than new.

    I was given a DateJust with a Jubilee band when I graduated from Law School in 1988. It was, I think, $1800 when new. Today, I'd be lucky to sell it for $1,000.

    I do have a new GMT II, which was given to me (long story--guy originally given a fake Batman by the guy). I received it direct from the local AD for Rolex. Retail is about $8900 with sales tax. I was offered $12K for it. But today, Rolex has a huge demand for sport watches. In 3 to 5 years, I doubt it will go for more than $10K
     
  24. bpu699

    bpu699 F1 World Champ
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    Dec 9, 2003
    10,163
    wisconsin/chicago
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    bo
    Sport watches seem to be the ones that do best...

    If you buy a Daytona, assuming they will sell you one, its probably worth 50% more than what you paid...

    There are websites that sell used Rolexes. Cant say I have ever seen a real rolex, of any kind, sell for $1000

    A quick google search shows used rolex dealers selling 1985-88 rolex datejusts for $5000-6000...

    Im no expert, just searched...
     

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