WatchUSeek Watch Forums banner

1 - 20 of 24 Posts

·
Registered
Joined
·
22 Posts
Discussion Starter #1
What is the timeline for such a venture? Will they want to send the watch off for appraisal from Rolex or can they facilitate the trade-in on the spot? Have box, papers and everything is 100% real.
 

·
Registered
Joined
·
27,043 Posts
They will likely make you an offer in the spot so as to make the sale. Unless it's really old or really obscure their on site watchmaker/staff will value it. This way you don't have time to change your mind about buying a new watch.
 

·
Registered
Joined
·
22 Posts
Discussion Starter #5
They will likely make you an offer in the spot so as to make the sale. Unless it's really old or really obscure their on site watchmaker/staff will value it. This way you don't have time to change your mind about buying a new watch.
makes sense!!!
 

·
Registered
Joined
·
2,350 Posts
Just for comparison, a used 114060 in australia is around AU$8200-9000. I went to a used watch dealer and asked how much would they take mine for a trade in, they said AU$5-5.5k
 

·
Registered
Joined
·
70 Posts
Check "Bob's Watches" for a wholesale valuation before you go in - you may find you are better off selling it to them V what an AD will offer if you are planning on wholesaling the watch, at least you will have a baseline value to negotiate with - my.02
 

·
Registered
Joined
·
12,061 Posts
Businesses are in the business to make a profit, so it is understandable that they will not be able to offer a customer anywhere near what their Watches are worth privately.

Rolex Watches do hold their value very well.

In short, I do not know the answers to the OP's questions, but, as per all Sales negotiations, negotiate so that you and the Dealer are both happy (or at least satisfied) with the outcome.
 

·
Registered
Joined
·
12,061 Posts
Considering that the RRP of a new Rolex Submariner 114060 is AUD$9,450.00 (or has it gone up now?), a used (presumably in excellent condition) Submariner sells for around AUD$8,200.00-AUD$9,000.00, I would say that the resale is incredible!

If I were to sell mine privately (and mine is like new, even though I have had mine for nearly 15 months now), I would be happy with AUD$8,000.00 privately.

I understand that businesses will have to make a profit, so AUD$5,000.00-ish is understandable. I am sure that a deal could be struck for a little shy of AUD$6,000.00, but I wouldn't do that deal personally.

Just for comparison, a used 114060 in australia is around AU$8200-9000. I went to a used watch dealer and asked how much would they take mine for a trade in, they said AU$5-5.5k
 

·
Registered
Joined
·
2,350 Posts
Considering that the RRP of a new Rolex Submariner 114060 is AUD$9,450.00 (or has it gone up now?), a used (presumably in excellent condition) Submariner sells for around AUD$8,200.00-AUD$9,000.00, I would say that the resale is incredible!

If I were to sell mine privately (and mine is like new, even though I have had mine for nearly 15 months now), I would be happy with AUD$8,000.00 privately.

I understand that businesses will have to make a profit, so AUD$5,000.00-ish is understandable. I am sure that a deal could be struck for a little shy of AUD$6,000.00, but I wouldn't do that deal personally.
Private would be around 8-8.5k, used watch dealers are selling it around 8.9-9.2k. Actually I bought mine from a WUS member for 8k, had it for 13 months now if I sell it I could get my money back.
 

·
Registered
Joined
·
1,125 Posts
It very much depends on the AD.

When I was in the market for my current Rolex, I had planned on visiting a bunch of ADs and seeing who was willing to work with me on a trade and/or discount.

Surprisingly the very first AD I visited had 'a guy' who was external to the store. The salesperson would text a photo of the watch and some basic information to their 'guy' and he would write back with a quote.

The trade in price was obviously less than if I had taken the time to sell the watch privately and held out for top dollar. But for sheer convenience I was able to walk out with my new watch that day, and just mailed them the box and papers after the fact. Simple and hassle free.

I had also spoken to another AD that had 'a guy' who would buy trades for cash, but that was more time consuming than instantly in the store.

So in my opinion there is some variance in play and no set rules. Obviously, like trading a car, you would make more money if you took the time to sell it privately, but there is a certain hassle factor too. Just do your homework and make sure you understand the value of the trade before you start to negotiate.
 

·
Registered
Joined
·
1,125 Posts
Businesses are in the business to make a profit, so it is understandable that they will not be able to offer a customer anywhere near what their Watches are worth privately.
It all depends on what the dealer is doing with your watch. Are they selling it themselves? Do they have an external contact that is buying and selling trades?

Clearly, when you trade something, they are not going to be paying more than the wholesale price of a new one if they can avoid it. But they are cognizant of the reality that making the trade work can facilitate the sale. So there is some give there. Also if they take in a used Rolex and resell it, they are not going to be scrutinized by Rolex on the sales price of the trade like they would on a new transaction.
 

·
Registered
Joined
·
12,061 Posts
I am confused because I said that Rolex Watches DO hold their value very well.

I own two myself.
 

·
Registered
Joined
·
4,610 Posts
Judging from my limited but educational experiences with local AD's you better put on your thickest skin
dealing with AD's. I have been Lo Balled many times in hoss trading for a new watch! And as one poster
advises, carry a bath towel for the bath you will take, hoss trading!!!

Local AD's make Jesse James look like a piker.

X Traindriver Art
 

·
Registered
Joined
·
2,767 Posts
Rolex was the one brand that I really struggled to get a deal with on trade in. If you have box and papers from an ad you'll be ok but if not you'll take a huge hit on it. In contrast, my dad traded his rolex in at the same ad he purchased it from and they gave him a reasonable deal. There is also the fact that some Rolex models sell easily so they don't need to do deals on them. They sell for full price within hours of going in the window. Having said that, this time of year is a good time to buy as it's a quieter period for dealers after Christmas etc. Best of luck with getting your new watch.
 

·
Registered
Joined
·
2,862 Posts
No money guy on earth is going to advise anyone to invest in watches. Yes, some do hold their value better than others. From a production watch standpoint, Rolex is on the top of the heap as far as that goes. Better than Patek. Old news here, guys.

Older news is that most shops offer dishonest valuations on trade ins. Paul Newman could float back down to earth, march into a shop with his actual Daytona, and the guy behind the counter would screw up his eyes, shrug, and say "It's just so hard to sell this right now..."

My advice to Jello is to sell his watch privately. If he doesn't want the hassle of waiting to get top dollar, all he has to do is find the best used market price and knock $1000 off. He'll sell the watch within 48 hours (good deals on Rolexes don't last long), and still make at least $2000 over what the shop will offer him on trade-in.
 
1 - 20 of 24 Posts
Top