[HELP] Buy a new Rolex or second hand?

[Discovery]

Hi,

I am Chinese Indonesian and am also new in this forum and have read and learned a lot in this great forum. Of course I still need a lot to know and love a Rolex before getting my first one.

I live in Indonesia and I often go to Singapore. I have a couple of Singaporean best friends myself but they are not familiar with Rolex watches themselves so I decided to seek advices in this forum.

After a long and deep research, I have narrowed down my choice between a Submariner OR a GMT-II.

Question now, should I get a brand new watch or 2nd hand complete set?
How much on average should I saved if buying a 2nd hand set?
I am not ultra rich but I have saved and could afford a brand new piece myself but am happy to buy a 2nd hand in perfect condition and save the money for my 2nd Rolex or one for my wife herself.

If buying a new Rolex, which AD should have the best service and/or offers?
Also if buying 2nd which shop to recommend and/or to avoid?

Thank you in advance and I hope I could be friended with a lot of Rolex lovers in Singapore.

Cheers,
Ken

[freeman88]

Buying new or 2nd hand is very subjective. Both have their pros and cons. If you stay in this forum long enough, you'll have an idea to help you come to a decision.

[Mezz72]

to me, whether u r wearing a brand new or 3 yo on your wrist makes no difference.
especially if u plan to own a few, no point go brand new.

[techno]

enough money, buy new.

i feel that a new watch feels better.

and for security reason

with your name on the cards.

it is so personal

[Oceanklassik]

Hi Ken, firstly, welcome to the Forum

It is not easy to give you absolute answers for your queries because there are numerous factors to consider. And to buy/own a brand new watch versus a pre-owned one is highly personal. To have an average saving amount for a pre-owned Submariner or GMT II (ceramic) is also not easy. Factors to consider include:

- price of pre-owned set;
- watch condition (including what it comes with);
- popularity of model; and
- period of purchase.

Why period of purchase? This is because there is some kind of "invisible cycle" for some of the ROLEX models. There was a point when the GMT II (ceramic) was selling at a very high price. Then the price came down. Same for other models like the Seadweller, Submariner LV, Milgauss GV, etc.

There is also no absolute "best" AD to go to. It depends on your luck I would say. In fact, most of the ADs I have been to in Singapore over the years are generally good. Some better; some so-so, but never bad/lousy. Usually, it takes two hands to clap don't you agree?

Same goes for pre-owned watch shops/dealers. It still voices down to the pricing and quality of the product. For a start, you may want to approach the forum advertisers if you intend to get a pre-owned, even new, piece. But there's one such company you may consider to avoid, which I have personally encountered, ie "PENG KWEE". They have an extensive range of ROLEX watches (including other brands) but the prices are "exceptionally" high.

Generally speaking, you will have a wonderful shopping experience in Singapore. Trust me

Good luck in your "hunting expedition" in the Lion City

[Discovery]

Thank you to all bro that have replied. Already felt so welcome into this community.

Escpecially for bro @Oceanklassik :

What you wrote is true. Thank you. And am start stalking a few sellers and private sellers. But has not decide whether to choose a new one or a pre-owned piece yet. Well, maybe I need to learn more first before I decide. Beside, I still have a month or so until my next visit to beautiful Singaproe.

Again, thank you so much for welcoming me here. Still would appreciate if any bro would love to shed some more information or things I should know while shopping for first Rolex in Singapore.

Best Regards,
Ken

[adamsmith]

Hi, it's a good position to be in.

I would say go brand new if this watch will be with you and won't be flipped. It's whole part of the buying and ownership experience and the extra you pay is some kind of intangible value. Hope u know what am saying.

[Derick]

Yes you have come to the right place.
New or second hand, either one "First".
Good and bad things about new and second hand also must experience it.
Just enjoy the process.

[nyisoe]

I think it is better to buy new for the 1st ROLEX if you are not thinking of flipping it.

Buying new gives you a sense of safety as you won't know what the previous owners did to the 2nd hand watches. From my observation, 2nd hand good condition watches are not that cheap too... may be ~$1K to $2K cheaper compare to new, depends on which model you're looking at.

Hope it helps.

[slinzx]

why don't you buy in Jarkata? There are a lot of Rolex Btq over there

[Discovery]

@adamsmith

I think I am not going to flip my Rolex ever (but not promises are made as who knows what a husband and father of two needs in the future).

So I might seriously consider buying new now.

Thank you....

@Derick,

Yes might be good to experience both buying new and hunting for a good pre-owned pieces.
Maybe when I am gained more knowledge and confidence

@nyisoe,

If saving just around $1K-2K for a perfect pre-owned piece, then I should definetely go for a brand new piece.

Questions :

- Are all AD offers exactly the same prices between AD? For example, would every AD offer the same prices for a Black Submariner without date across Singapore?


@slinzx

Funny thing is that I go to Singapore more often than I go to Jakarta. And I heard they carry only a limited number of models. PLUS, I get GST-Refund as a nice discount.

So buying in Singapore is more likely for me than in Jakarta....





Thank you all...

[Derick]

And also depends on which models / Ref no.
Some only available in second hand coz already discontinued.

[loong1019]

why don't you buy in Jarkata? There are a lot of Rolex Btq over there

I think Foreigners don't have to pay GST in local. Likewise if an Indonesian buys a Rolex at jarkata, he has to pay the GST

[zhleez]

For both submariner and GMT-IIc, you will save around 2-3k. If you feel these savings are insignificant, then go for a new watch. Also, you need to know if the pre-owned watches require any servicing or has been recently serviced by the owner. New watch won't have this issue and will come with a warranty.

[Discovery]

I think Foreigners don't have to pay GST in local. Likewise if an Indonesian buys a Rolex at jarkata, he has to pay the GST

That is one of the many reasons why I am planning to buy overseas (Singapore) bro....