Best Place To Buy A Rolex Online
Discover the best place to buy a Rolex online by comparing deals from a society of the most trustworthy Pre-owned luxury watch experts.
When buying a luxury watch you want to be sure that you are buying it from a reliable and trustworthy source, especially when buying a Rolex. Rolex, the leading name in the luxury watch industry with an estimated net worth of $9.3bn, has over 4,000 watchmakers in their arsenal building and assembling their timepieces almost all by hand.
For Rolex to maintain their prestigious image and remain as the leading name in the luxury watch industry, they always ensure a high demand for their products. In order for anything to go up in value, it needs to have more demand oversupply. Rolex cleverly influences this process by controlling the supply of their watches, with encouraging customers to sign up to a waiting list in order to get their brand-new Rolex.
However, depending on various factors decided by the Swiss manufacturer you could end up on the waiting list for years, just to get your watch. This strict process for selling their watches makes it a challenge for even the most reputable Rolex collectors to get their hands on the latest models.
Not only does Rolex restrict the supply of their wristwatches, but they also have control over who can sell their watches and where. Watch manufacturers create relationships with certain watch dealers which results in the retailer becoming an Authorised Dealer of the watch. This means not only do you have to sign up to a waiting list, but you will also have to find a retailer that is the official authorised dealer of Rolex.
Since Rolex’s image revolves around exclusivity, you cannot just add a Rolex watch to your online cart and expect it to arrive at your door within the next week. No, in order to purchase a Rolex, you need to go through the proper channels, which involves booking an appointment at your local Rolex Authorised Dealer, sign up to the Rolex waiting list, and then wait up to 10 years just to get your watch (depending on what model you are after).
So, how do some people get their Rolex straight away? After hearing or even experiencing the long process to buy a Rolex, many people resort to other methods to obtain their Rolex, the most common of approach by many is by turning to the pre-owned luxury watch market.
However, there are many things to consider.
Do you want to find a watch at the best price, choose a watch based on the safest option, get a watch within a certain timeframe or receive the most fulfilling experience?
Rolex is a luxurious and iconic brand that is known for its quality and craftsmanship. When it comes time to purchase a Rolex, you want to be sure that you’re getting the best possible product from the most trustworthy source. Unfortunately within the luxury watch market, it can attract some less than trustworthy individuals and you could come at risk of being defrauded either from receiving a counterfeit watch or not receiving one at all.
There are many different ways to buy a Rolex, and each has its own set of pros and cons. In this article, we will explore the best place to buy a Rolex watch online and other alternatives.
So whether you’re looking for the best deal, the fastest service, or just an unforgettable experience, we have you covered. We’ll discuss how to choose the method that is right for you, based on your preferences, and provide you with advice on avoiding mistakes that will leave you in a horrible situation.
So where is the best place to buy a Rolex watch?
There are various methods of buying a Rolex. The four main methods are: buying in person at a retail store, online through an authorised retailer, online through an online marketplace, or via an auction house.
Each method has its own set of pros and cons that you should take into consideration before making your purchase. Below we identify the best reason for purchasing a Rolex watch from each method.
Best place to buy a Rolex online if you want the best price: Marketplace
Buying a watch from a marketplace has become hugely popular over the past few years, as it allows independent sellers to utilise a centralised platform for where buyers go to look for a luxury watch in one place. This makes it one of the best purchasing methods to use when you are looking for the best price for a watch, this is because there is such heavy competition against other sellers on the platform they usually will compete for price in order to get a sale – which drives the price of the watch you are looking for lower than other places such as online retailers.
Although when buying from a marketplace, it is important to exercise caution. Due to the model of marketplaces – allowing third party sellers to sell their watch – you are much more likely to be at risk of fraud, as you can never be too sure of the trustworthiness of a seller. That is why is it important to only buy from reputable sellers with good feedback scores, and display clear information on the watch with additional pictures.
In addition, the best way to ensure you are not vulnerable to being a victim of fraud, is by using a marketplace that has certain security measures in place to product the buyer, such as the most popular online marketplaces: eBay and Chrono24.
Ebay
Ebay has been selling luxury watches on their platform for over the past 25 years, and now that they have introduced their recently new service, called Authenticity guarantee, their luxury watch sales have gone through the roof.
The Ebay Authenticity Guarantee Certification launched in America in 2020 and then in 2021 it emerged into the UK. What makes this certification so important, and what led to a massive increase of sales – making a new sale every 28 seconds – is due to the fact that this service has been designed by Ebay to further protect sellers from being mis-sold or a victim to fraud.
So, what is this certification that has made Ebay such an attractive place to buy a luxury watch? The Authenticity guarantee is an inspection and verification safety process that takes place when a buyer purchases a watch over $2,000, when they select a listing with the authentification badge. Once the watch is bought off the platform, it first gets delivered to a third party authenticator, who not only verify the watch’s authenticity but also compares the condition and running of the watch to the sellers description – and comes with all the additional extras stated in the listing.
Ebay will also offer an escrow service for the purchase of a luxury watches that has a value of over $10,000.
The benefit of selling on Ebay, and what makes it the best place to buy a Rolex online – based on price – is that the platform usually possesses slight lower cost of luxury watches due to the fact that they offer a better pricing break for watches being sold over $2,500, compared to other marketplaces such as Chrono24.
Pros
- Escrow Service for watch listings over $10,000
- Third party Authentificators verify watch authenticity
- Watch and accompanying accessories are assesed based on description of listing
- Highly competitive pricing, drives lower than market value pricing. (plus tiered listing commission for higher valued goods)
Cons
- Higher volume of listings with poor condition compared to a retailer
- Higher volume of listings could give buyer paralysis, comparing the the smallest detail
- Suseptable to longer time and less secure delivery.
Chrono24
Chrono24 is another marketplace, created in 2003 with an aim to provide “easy, safe, and reliable market access to all watch enthusiasts”.
Similar to Ebay, Chrono24 also possesses a set of safety protocols in place to protect their buyers from being mis-sold. Their service includes a vetting process for professional dealers, that require some basic background checks on the seller, however these do not extend to a private seller. They do however allow you to report within 14 days if you believe you have been sold a counterfeit watch and there fore will be returned your money.
The Chrono24 platform is one of the largest in the world, that has over 25,000 professionals sellers, from over 120 countries, that accounts for over 500,000 watches listed on their platform. This makes it another best place to buy a Rolex online if you want more competitive pricing on your luxury watch, or just a great place to research the current market value of a watch.
However their service charge to sellers is somewhat more substantial, taking a 6.5% commission per sale, from their sellers meaning the price may reflect this higher commission rate.
Pros
- Free escrow service
- High volume of listings to choose from
- Competitive pricing of listings
- 14 day money back guarantee
- Insured delivery
Cons
- Private sellers are not vetted like professional sellers are on the platform.
- Platform can not insure authennticity of watches sold on platform. You have to open a dispute if you believe have been mis-sold.
- Comission rates to sell on platform may result in sellers listing their watch slightly higher than on other platforms – such as their own.
Other places to buy a rolex watch online or in person includes:
Retailer
By far one of the most popular ways to buy a brand new watch, and a common place to buy a pre-owned luxury watch is through a retailer, authorised or otherwise. Buying a watch on a marketplace may be the most popular to acquire a pre-owned watch but if you want a brand new watch or inspect a watch in person, going through a retailer is your best option.
Buying a luxury watch and forking out over $2,000 can be a daunting process, which is why if you are a first time buyer it is probably best to acquire your watch through a legitimate channel such as a retailer that will offer money back guarantee, and usually retail warranty for your watch (obviously if you buy a brand new watch you will also receive a manufacture warranty). Another advantage of buying through a retailer is you can actually inspect the watch in person, and have a watch expert on hand to guide you in what watch to buy and what to look for, giving you a luxury buying experience.
Pros
- Choice of viewing the watch in person for further inspection.
- Receive support from a watch expert who can assist in your purchasing decision.
- 14 day money back guarantee
- Retailers usually get their pre-owned watches authenticated before they go on sale.
- Watches are usually polished and presented in best quality for sale, making the watch feel brand new.
Cons
- Pricing of watch is usually over market value due to higher overheads.
- Can be harder to find the exact watch you are looking for by shopping at a retailer – restricted by choice.
Auction House
As hinted in the name buying a watch from an auction house requires you to place a bid in for your desired watch, although this does not necessarily mean you will get the watch. With an auction house, watches are a common listing – this can be for many reasons including: seized assets from criminal activity, valuables of a decease with no relatives, celebrity product, or simply a sale to drive higher margins.
Auction houses have become a popular place for watch enthusiasts to discover highly collectable vintage and pre-owned watches that shoot well above their current market value. An example of this includes, Gerald Gentas personal Audemars Piguet that went for record price earlier in May 2022, at a price of $2.1M at Sotheby’s auction house, or Paul Newman’s iconic Rolex Daytona that was sold for $17.7M back in 2017.
Pros
- Obtain pre-owned watches at very attractive prices
- Get access to exclusive sale events which could include iconic vintage and pre-owned timepieces.
- Can either bid online or through the phone
Cons
- May come in poor condition
- Authentification is less important depending on what type of auction it is
- You may end up paying over market price if you bid too high.
The popularity of buying a pre-owned watch has seen the market to grow by 8% year on year until 2023, compared to the new luxury watch market that is estimated to shrink in size by a massive 25 to 35% next year.
The growth of the pre-owned watch market has most likely been influenced by individuals who are drawn to more competitive prices and access to high demand models. This makes it a great place for newcomers and existing watch collectors to acquire their watches.
Compared to the exclusivity of buying a brand-new watch, the pre-owned watch market is highly accessible and often very competitive. Instead of being restricted on the type of model you can get in a given area or the time it takes to get a watch, the pre-owned market allows individuals to instantly get their hands on the watch they want whilst receiving it within the near future.
Due to the fact that when buying a Rolex from an Authorised Dealer you need to sign up to the manufacturers waiting list, the best place to buy a Rolex online is therefore by finding it through the pre-owned market.
With the growth of the pre-owned market rising dramatically it has fuelled the development of new ways to buy and sell a watch. Instead of having to turn to an Authorised Dealer to buy a specific branded watch, you can now turn to online marketplaces, pre-owned dealers, Watchforms as well as some Authorised Dealers that have a pre-owned watch section.
