Luxury watches are gorgeous pieces to invest in, but they can be super expensive, and hard to come by. There are tons of different watches, and finding the right luxury watch in the new market can be difficult; On the other hand, the secondary luxury watch market is a great option if you are looking for one and want a more extensive selection, lower price, or a better deal overall.
Luxury Watches as an Investment
Many luxury watches do not lose their value, instead become more valuable as their rarity increases. Such watches are also practical as you can wear and use them no matter how old they are. Other than being a fantastic investment, they are a beautiful work of art and a stunning piece to add to any wardrobe collection.
If you are looking to invest in luxury watches, take the time to do your research, find the right piece, and ensure that you are buying only authentic watches. Here’s what you should know –
Benefits of the Secondary Market
There are tons of benefits in buying luxury watches in the secondary market as it is a network of sellers and buyers that deal with used luxury watches. These watches are all in great working order, they are inspected, and are authentic and in good shape.
Buying Pre-Owned is Cost-Effective
The first benefit to the secondary market is that it is less expensive. These watches are pre-owned, have been used, worn, and will sell for a fraction of the price of a new watch. The average price of a Rolex is anywhere between $7,000 to $12,000. For special editions or unique versions of the watch, they can cost tens of thousands of dollars.
For example, used or pre-owned Rolex watches generally cost far less, averaging around $5,000 for an Explorer watch. With pre-owned watches, you can get authentic, gently used Rolex watches for a fraction of the price without sacrificing any of the authenticity and quality of the watch.
Rare Watches are Available
Another benefit to the secondary market is finding watches that are not readily on the market. Watches that are special editions, only made in limited quantities, or discontinued can be found on the secondary market easier than you might try to buy them new. With luxury watches, most of these watches are only made in limited quantities. They are not mass-produced, so there will be tens of thousands of them to purchase.
Rolex releases new models of their watches each year, and with each new release, they tend to discontinue older versions. They make limited numbers of each model every year and generally only make about 1 million watches worldwide. With limited numbers being made, these watches do become hard to find. In many cases, special edition or specially made watches will be hard to get and hard to come by.
In some cases, people do have to be put on waiting lists to find out if they wish to purchase a watch, which makes it even harder to get your hands on it. These watches that are part of the secondary market are going to be more varied, there are going to be models that are no longer in production, and there will be models that might be hard to come by new.
The secondary market will open up to you and allow you to find great watches that might be hard to find otherwise, and you can find them for a fraction of the price.
Another benefit to the secondary market is that it is far more convenient than buying new or finding a place that sells these watches. Such a market is always going to be there, easy to access, and it is easy to contact someone from the secondary market to shop.
There is far less pressure with a secondary market than there would be if you were buying new and you can take your time to look for the watch that you want and the watch you need. The secondary market is easy and simple to shop for and can help you find the best watch possible and the watch that you want.
Simple to Sell After
By being part of the secondary market and buying a Rolex watch, you can also resell the watch after you have worn it and used it and want to switch things up. This gives you a greater option for buying watches and the option to resell after you are done with it.
Reselling on the secondary market can help you get some of your investment back after purchasing your watch – It is a great way to get your money back, to get money to invest in a new watch, and to get the money that you spent back so that you can get a new watch if you want. The secondary market is great for both buying and selling and can help you get your money back and then reinvest.
To be part of the secondary watch market, you do have to talk to people, and it does benefit you to work with others and build up relationships with other buyers and sellers. When you buy your watch, you can talk to others about potential buyers for other watches you may have or for the watch you are purchasing after you are done using it and might want to resell it then.
For the secondary market to be successful, people need to build a sense of community, and they need to work together. The secondary watch market only works when people are willing to sell and buy and talk with one another and work with one another to create a healthy and growing market.
The secondary watch market flourishes when more people get involved and when more people work together to create a pool of items to be purchased and a pool of items to be sold. Working with people in the secondary watch market can also help you get the watch you have been looking for and help you find buyers for your watches.
Building a community with other buyers and sellers can make the market even more exciting as well. Relationships with those part of the secondary luxury watch market can be lifelong; you may find people who share your interests, people who can help you find the watches you are looking for, and people who could become lifelong friends.
Why Choose Diamond Banc?
Diamond Banc has a team of Rolex experts who are fully immersed in the second-hand Rolex market on a daily basis. We know how to accurately evaluate Rolex watches and determine their true current market value and we pay clients accordingly.
If you are searching “Rolex buyers near me,” we can help! Maybe you want to sell a current Rolex watch you own in order to buy something new and grow your luxury watch collection. Our staff will work with you to ensure you receive the highest payout possible when you sell your Rolex.
We want you to be successful, we want you to grow your luxury watch collection, and we will work with you from start to finish to ensure you are happy with your experience. Contact us today at Diamond Banc to find out more about selling your Rolex and getting into the secondary luxury watch market.