Prices have skyrocketed for vintage Rolex sports models like the 1973 Submariner seen above.
Many traditional watch brands are struggling to survive or grow in an ever-increasing digital world. More and more high-income earners are increasingly opting for a naked wrist or a smart watch where they can listen to music, check emails, and monitor their physical activity.
The Rolex Gamble
In such a highly competitive environment, Rolex recently took a calculated gamble. They held back production and limited the amount of high-demand sports watches released to authorized dealers. The strategy worked. Demand for Rolex sports watches like the Submariner skyrocketed, along with their prices, versus the brands that used discounting as a form of increasing their revenues.
Rolex has always had a strong demand and brand caché. But a few impressive auction results of vintage, collectible watches hitting all-time highs (such as Paul Newman’s personal Rolex Daytona selling for $17.8 million) has added a bit of luster to the iconic watch brand’s image and a bump to their vintage collector model prices.
The Inevitable Rolex Bubble
All it takes for Rolex prices to drop back to their previous levels like a snowflake on a Swiss winter day is for Rolex to resume previous production levels and a fair amount of their customers switching over to buying some of the other equally great Swiss watch brands out there.
Using an artificial supply shortage to create demand and bolster brand image is a strategy that doesn’t always work for the long term. Eventually authorized dealers and the public get fed up.
We are in the midst of a Rolex bubble and our recommendation at Diamond Estate Jewelry Buyers is this: If you enjoy wearing your Rolex sports watch and have no reason to sell it, then by all means keep it and wear it. But if you have no attachment to it, or don’t wear it, and you would rather have the cash, then this is probably a good time to sell.
Rolex sports watches that we were paying $3000 to $4000 a year ago, we’re now paying $6000 to $7000 and up. We don’t believe this will last forever. If we’ve learned anything from the 2008 housing market or the gold spike of 2011 (when gold hit $1895), it’s that what goes up unreasonably usually comes down.
At this time, we keep our Rolex Submariners and other sports models moving, and our inventory lean to hedge our bet — knowing prices could be in for a downturn in the near future.
Real Reviews From Customers
I had never sold anything online before, so was a little nervous about selling my Rolex. Based on Yelp reviews, I visited DEJB’s website and was pretty impressed. Worked with Paula read more to text some pics and got an estimate within hours. I got estimates from three other places and DEJB was right in line with two others, but was a touch higher. Based on the great customer service, I went with DEJB. Once I said I was in, Paula got me the prepaid, secure, insured shipping information within hours. Once received, they let me know my Rolex was as described and wired the full amount immediately. What else can I say? Fast, secure, friendly, fair – what more can you ask?
I reached out to Diamond Estate Jewelry Buyers to sell my husband’s Rolex. Lori was very nice, knowledgeable, & inspired trust. Most importantly to me, there was absolutely no pressure read more to proceed—I felt very comfortable with the pace of the process. Lori gave me an estimated range of what the watch would be worth, subject to adjustment based on their appraisal once their buyer was able to examine it. She provided all details and the Fed Ex labels for shipping the watch—it was not hard and I was fully confident it would go without a snag. Lori called to let me know as soon as the watch arrived. The next day it was appraised by their buyer and Lori called to let me know the adjusted price. They dealt fairly with me, so I accepted and wire transfer was made same day to my bank account. Nicely done, Lori!
Absolutely seamless sale of a two tone Rolex Submariner. The buy bid was honored, no changing of bid after receiving the watch. As far as I am concerned this is the only place to sell read more your jewelry and watches. Paula was super professional and easy to do business with. I was a little apprehensive, but after reading all of the reviews, I felt confident, and so should you.
Paula was so great to work with! Very professional, and they offered the best price for my Rolex GMT II (over 2 other watch companies that buy used time pieces). No bait and switch read more here—take good photos of what you are selling and give them as much detail as you can so they can offer you the correct amount to start with. No surprises. They paid exactly what I was offered. Great experience. I wouldn’t hesitate to recommend their services to anyone. Thank you!
Working with Carl was probably one of the most straight forward, uncomplicated transactions I've experienced. After leaving a voicemail I received a prompt text and then a call where read more Carl clearly explained the process. I immediately felt confident that I was working with the right buyer to sell my Rolex. After sending clear pictures of the timepiece, Carl followed up with a phone call and quoted me a very competitive price. We agreed to the deal, I sent the timepiece fully insured through FedEx at his cost and after he had confirmed receipt and saw the timepiece he wired the money directly to my bank account. I highly recommend working with Carl. He's a man of his word and runs a top notch business.
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