If you’ve been involved in collecting Rolex watches, you’ve likely noticed everyone is caught up in the excitement of what’s new. When the company releases an update, it’s like everyone clamors for it. Suddenly, watches start selling on the secondary market for twice as much as their retail price. We’ve seen it over the last few years, haven’t we? Well, you already know that I love Rolex watches, and at Bert Levi Family Jewelers, we buy and sell a great many Rolexes. I can definitely understand how new models or new features get people scrambling. I can tell you that I’ve done my share of scrambling, too.
I’ve always been a little confused about why there isn’t a similar focus on discontinued watches. It seems when a watch’s manufacture ends, there ought to be a scramble for it. After all, a collector ought to value rarity, right? For some, this absolutely happens. For some, it doesn’t. Unfortunately, there’s no easy way to point to which watch will become very sought after and which won’t. It’s true with new releases, too. I’m especially confused when I think a design is brilliant and there’s no run on the model.
To me, it goes back to the idea that you should buy a watch because you like it and because it fits your personality and fashion sense. I don’t think you should choose a watch because you’re hoping it will become a collector favorite and earn you a lot of money. Sure, it can be fun to play the market like that. Of course it can. It can give you the same thrill as gambling or day trading, I suppose, and if you can afford to lose the investment, more power to you.
But to me, a Rolex is a timepiece first and an investment second. I think it makes more sense to buy a watch you can cherish and keep it for your children and grandchildren. Rolexes hold value very well but when you think of them as a trading investment, I think you really risk getting financially hurt.
That’s just my two cents. Of course, I’ve been doing this for a very long time, so maybe my two cents is worth a little more than that. Who knows? What I do know is that Rolexes are beautiful when you put them on your wrist and many very nice folks have lost a great deal of money trying to time the secondary market.
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