buying a pre-owned rolex - a newbie's detailed guide (?)

[Wisingapore]

Dear all...

I'm interested in venturing into the world of rolexes. Being budget conscious, the pre-owned market would be a good place to start.

I'm interested in the following watches:

1) SeaDweller (or a no date sub)
2) GMT Master II (black bezel/dial)
3) GMT Explorer II (white dial)

I am aware of the usual recommended shops, esp those with an online presence such as passions and jw. However, as there are a whole lot of terminology, details associated with pre-owned watches that i do not quite understand, I dare not venture yet... Hope to be enlightened here.

"Series" alphabets

I note that the preowned shops usually feature the series alphabets in addition to the year of the watch. I have read the the series refer to the production date, isnt it a double count? I note that some buyers are looking for a particular series alphabet, is there a reason or difference between series?

Movement

In any one model of watches, are there different types of movement? What makes one movement better than another?

Condition

What does polished imply? I have heard that polishing will thin the watch down, is that true? What does the percentages in a watch imply, I note that some watches are 99%, whereas others are 98 or 95%, is there a real difference or an industry benchmark? Same for tightness of bracelets

Prices

Apart from rare models that command very high prices, what is the standard depreciated price of a pre-owned rolex in above average condition? Do they vary largely from shop to shop? are there such things are good deals or can i expect that these super cheap deals will hide some unknown horrible defect?

Common defects or stuff to look out for in pre-owned watches

Is there anything in particular to watch out for when purchasing a pre-owned rolex that a dealer would rather we not know? I note that in an original condition rolex, there is a serial no in each part to match each other part (bracelets, case, movement, etc), and in some examples of pre-owned rolexes, these parts may be switched about. Will that seriously affect the value of the watch?

Common practices of pre-owned dealers
I note that the same watches tend to show up on the pre-owned dealer's websites. This gives rise to the suspiscion that these dealers will buy back my watch for resale again. Does anyone know of such practices?

Green Sticker, tags and other bits

What is the significance of all these?

Where can I get a good deal, really...

I do hope that answers to the above will manifest in this thread, and provide both me and other newbies with more of an comprehensive guide to buying pre-owned rolexes

Cheers

Calv [WiSingapore]

[triton]

I'm interested in the following watches:

1) SeaDweller (or a no date sub)
2) GMT Master II (black bezel/dial)
3) GMT Explorer II (white dial)

Calv [WiSingapore]

got this model GMT Explorer II? either it is a GMT or Explorer II as far as i know.

[Darkangel]

got this model GMT Explorer II? either it is a GMT or Explorer II as far as i know.

Aiyah...ppl type wrongly la...

[Wisingapore]

For a moment i thought that someone here could assist with an answer... but alas...

at least i now know that its an explorer 2

[triton]

"Series" alphabets

I note that the preowned shops usually feature the series alphabets in addition to the year of the watch. I have read the the series refer to the production date, isnt it a double count? I note that some buyers are looking for a particular series alphabet, is there a reason or difference between series?

Movement

In any one model of watches, are there different types of movement? What makes one movement better than another?

Condition

What does polished imply? I have heard that polishing will thin the watch down, is that true? What does the percentages in a watch imply, I note that some watches are 99%, whereas others are 98 or 95%, is there a real difference or an industry benchmark? Same for tightness of bracelets

Prices

Apart from rare models that command very high prices, what is the standard depreciated price of a pre-owned rolex in above average condition? Do they vary largely from shop to shop? are there such things are good deals or can i expect that these super cheap deals will hide some unknown horrible defect?

Common defects or stuff to look out for in pre-owned watches

Is there anything in particular to watch out for when purchasing a pre-owned rolex that a dealer would rather we not know? I note that in an original condition rolex, there is a serial no in each part to match each other part (bracelets, case, movement, etc), and in some examples of pre-owned rolexes, these parts may be switched about. Will that seriously affect the value of the watch?

Common practices of pre-owned dealers
I note that the same watches tend to show up on the pre-owned dealer's websites. This gives rise to the suspiscion that these dealers will buy back my watch for resale again. Does anyone know of such practices?

Green Sticker, tags and other bits

What is the significance of all these?

Where can I get a good deal, really...

I do hope that answers to the above will manifest in this thread, and provide both me and other newbies with more of an comprehensive guide to buying pre-owned rolexes

Cheers

Calv [WiSingapore]

Series & Year of Manufacture

for this, certain series might be manufactured in 2 years like the latter part of one year and beginning of the following year. in this case, the alphabet is reported together with the year of manufacture. the alphabet can also be viewed as a checksum against the year of manufacture. it is like the last digit of NRIC is actually a checksum alphabet so that the relevant authorities will know if someone is faking a NRIC number or to enable that the 7 digits is truely unique.

Movements

for a particular model, there could be different movements used like 4030 v 4130. why different movements? technically it should be better, if not why change? also, rolex movements are in-house unless im wrong.

Condition

polished could be that the seller has removed the scratches present through some fluid. will it thin a watch? possibly, but is it substantially. you be the judge. as to percentage, it is how each seller wants to benchmark against the original piece. however, this is subjective. to some people, minor scratches are ok, but not to others. so best is have a look, if satisfied. then buy, else look for another one.

Prices

Prices are dependable on supply and demand. if there is a higher supply of a particular model and demand is low, then prices will be lower compared to a different situation where supply is low compared to demand. current example is the 16710 model. how much does a watch depreciate? however, i can answer the reverse, rolex sports models watch prices goes up about S$450 a year.

Common defects or stuff to look out for in pre-owned watches

scratches, dents are common in most watches. dents is how loosely one want to define. corroded case back or parts. if possible, ask the seller to open the case and check for any sign of corrosion. it is possible due to humidity and sweat. also bracelets are prone to be damaged if they are not size properly to the wrist. if a watch is worn loosely, the connectors of the bracelet are so-called to subject to more stress bending more than normal. this usually happens more to the jubilee bracelets.

Green Sticker, tags and other bits

i assume that u asking about the hologram rolex sticker. used to be that the hologram was a way to authenticate a genuine rolex against the replicas. however, these days, such holograms can be manufacture to look like genuine one. tags - the green tags. can be bought. apparently, if one purchase from an AD, the rolex tags are given to u as well. however, such tags are available for purchase online. other bits like the bezel protector? what other bits?

Where can I get a good deal, really...

depends on how good your relationship is with the second hand watch dealer or the person you buying from*understanding is that you looking for 2nd hand* also depending on your bargaining power.

good deal depends on alot of factors. relationship with watch salesperson. frequency of purchasing watch. amount purchased. and others.

if you bother to look through the other thread where there is a list of online websites for second hand dealers, pay them a visit. look @ the pieces and their asking price. then you will have a guide price to benchmark.

i hope these answers are helpful to you.

[Wisingapore]

Thanks... it is most helpful indeed.

I am looking to get a Seadweller.... GMT master 2 or a Sub no date... idea is to wear it with a "bond" nato... as a daily watch...

Following that will probably be the explorer 2...

Want to take some time to do research first... and buy at abt Xmas time

BTW, i note that some watches reappear in the sales corner of the online shop rather often, do u know if they have a buy back policy?

[triton]

Thanks... it is most helpful indeed.

I am looking to get a Seadweller.... GMT master 2 or a Sub no date... idea is to wear it with a "bond" nato... as a daily watch...

Following that will probably be the explorer 2...

Want to take some time to do research first... and buy at abt Xmas time

BTW, i note that some watches reappear in the sales corner of the online shop rather often, do u know if they have a buy back policy?

current listed price for SD is 8191 brand new. GMT Master II = 16710 or 116716LN aka the new design? if it is 16710 then prices are alot higher now because it is already discontinued.

my suggestion is do not buy from nov-feb period as most watch dealers know that people have gotten bonus, as such their discount wun be so good.

[louisoh]

Yep... and paying via cash will have more discount...

[triton]

Yep... and paying via cash will have more discount...

me use CC to buy. never bought a watch with cash.

[ohlins]

I have read the the series refer to the production date, isnt it a double count?

double count? not really .....cos a watch "manufactured" in 01 could be sold at a later date, maybe in 03.....

In any one model of watches, are there different types of movement? What makes one movement better than another?

modern rolex movements are more or less the same.....3130/3131//3135/3155/3185/3186 fundamentally the same.......for vintage watches and their movements, that's another long story.....

What does the percentages in a watch imply, I note that some watches are 99%, whereas others are 98 or 95%, is there a real difference or an industry benchmark? Same for tightness of bracelets

no common standard.........so anyhow whack.....

there is a serial no in each part to match each other part (bracelets, case, movement, etc), and in some examples of pre-owned rolexes, these parts may be switched about. Will that seriously affect the value of the watch?

there is only serial number on the watch case.......for bracelet, case back only have model number, it's a generic number.............

I note that the same watches tend to show up on the pre-owned dealer's websites. This gives rise to the suspiscion that these dealers will buy back my watch for resale again. Does anyone know of such practices?

yeah some shops do that......

What is the significance of all these?

i prefer to have a full set of accessories....but then if u buy used, some watches may not come with all these.........

Where can I get a good deal, really...

u have to do more homework and visit more shops.........

[Darkangel]

me use CC to buy. never bought a watch with cash.

Me use all cash...never bought a watch with CC,well coz i dun hav 1. Hahaha

[triton]

Me use all cash...never bought a watch with CC,well coz i dun hav 1. Hahaha

u rich that is why can use cash.

[Wisingapore]

There are quite a few pre-owned watch shops in the sim lim area, cant remember the building name...

quite an interesting selection... but have never heard of these shops being mentioned in the forums... any views on them or experiences?

[Darkangel]

u rich that is why can use cash.

No lor...coz I dun credit card mah..bo pian...

U use credit also gotta pay in the end right...hahaha

[louisoh]

Can get points ma... so if u r regular enuf... the AD can giv u discount as if you paying cash.. then by using card, you can have even more discounts via the points, or as triton says.. using the DBS Taka card..