For anyone looking to sell a Rolex watch, it can seem like a difficult and daunting task. Many hopeful buyers run the risk of purchasing counterfeit watches from numerous less-than-honourable businesses. You will also notice that the assessments you receive for your watch, will differ by hundreds and sometimes even thousands of dollars. This can make it difficult to understand the true value of the product.
However, selling your Rolex doesn’t needs to be intimidating or complicated. With a little bit of research and organization, you can simplify the process and also ensure you receive the best price. In this post, Oren Jewellery provides you with the important steps you should take.
- A Trustworthy Dealer
Selecting a dealer is the most important decision you will make throughout the selling process, though it may seem like a straightforward and easy task. The high desirability of Rolex watches is what make them a popular product. But, not all dealers are honest and very few of them will be completely transparent regarding their business practices or pricing. This is why, before you make up your mind, you should conduct thorough research and look into certain aspects of their practices, such as:
- Integrity & Honesty
Certain qualities you should look for in a viable dealer’s reputation are business ethics, honesty and integrity. It doesn’t matter whether you know the exact value of your Rolex or not, remember that you are still placing a lot of trust in your dealer when you approach them with the sole intention of selling your watch.
Your dealer should ideally have specialization in purchasing and selling pre-owned Rolex watches. This is important as you will have to trust their experience and expertise throughout the process. When a dealer has a loyal customer base and has been around for many years, you should expect they they’re professional and ethical in their approach.
- Local Jewellers
Local jewellers may be a decent option for Rolex sellers, but most of them are not aware of the current market value of the watch. Also, this also means that they will not be able to provide you with an appropriate quote. Even if the jewellery is trustworthy and honest, it’s not possible for them to give you the best possible price for your product.
Initially, listing a luxury item such as a Rolex on eBay may seem like an easy task. However, unless you have an existing and well-established account with hundreds of positive feedback ratings, you may receive few offers. You also need to have a PayPal account to receive the payment, and a UPS or FedEx account to have a cost-effective and efficient way to ship the item. Also, eBay has fake watches that are identical to original designs, and are sold at prices that differ by thousands of dollars. There may also be hidden commissions and fees that can cut into your profits.
Craigslist does not require any feedback or ratings on products that are bought and sold on the website. A vast majority of transactions take place in person, generally using cash. It also lacks the basic security features that eBay offers to protect both sellers and buyers. This you will have to meet with a total stranger to hand over the watch.
- Gather the Required Information & Materials
Once you’ve located a reputable dealer, you should try and gather as much information and materials as you can about your Rolex. The more you know about it, the more likely you are to receive a fair price. It’s possible for you to sell your watch without paperwork or even the box, but having these items can make the selling process a lot easier. These may seem unnecessary to you but presenting the original factory part and service receipt, will help increase the value of your Rolex.
This concludes the first two steps you should take when selling your Rolex watch. Read the second part of this blog to find out what else you should do.