In
this month’s blog, we examine luxury watches, specifically Rolexes.
Here’s what to know and think about before buying one, according to
clockmaker.com.
1. Be honest—can you afford it?
Before
actually buying a Rolex, the most important thing is to be honest with
yourself if you can afford it. Will the watch be an asset or a
liability? Do some research: there are various versions of Rolexes out
there, with an official, brand new Rolex being the most expensive.
Are
you willing to buy new? Does it have to be 100% authentic? Assess you
financial situation carefully and honestly, and choose your watch
accordingly.
2. Make sure the dealer is legit.
Even
a pre-owned Rolex is an expensive item. It is absolutely essential that
you buy your Rolex from a knowledgeable dealer, a dealer you know you
can trust.
Every year, people are scammed out of millions of
dollars thinking they are buying “the real thing,” when in fact it’s a
cheap knock off.
That is why it is important to buy a new or used
Rolex watch from a knowledgeable and reputable dealer, preferably in a
brick and mortar store you can visit in person.
A new Rolex can be
purchased from an authorized Rolex dealer or it can be obtained from an
independent, unauthorized watch dealer selling new, near-new,
pre-owned, or vintage Rolex watches.
If your objective is to
purchase a new, current model Rolex and to save on the price, or if you
are looking for a specific model no longer available from an authorized
dealer, then buying from an independent watch dealer is probably your
best option.
To find an authorized Rolex dealer in your area, visit
rolex.com for dealers in your area.
3. Make sure it’s a real Rolex.
In the past, fake Rolex watches were so poorly made that it was usually easy to distinguish the fake from the genuine item.
Today,
counterfeit Rolexes can be almost impossible to distinguish from the
world-renowned Swiss masterpiece. Online auction houses and individual
Internet sellers commonly offer very convincing copies.
If you
want a genuine Rolex, make it clear to the dealer that you are
interested in seeing and buying only a 100% genuine, unaltered Rolex
watch—including the watch band.
Ask the dealer:
Do
you offer an unconditional money back guarantee that the watch is a
completely genuine, authentic, unaltered Swiss made Rolex?
Will you also off an unconditional guarantee that the bracelet does not contain any non-Rolex parts?
4. Confirm that it’s in good working order.
Before
you buy, make sure the watch is working properly, and has been serviced
by an authorized Rolex service center, or reputable and experienced
independent watchmaker known to specialize in high-end watches.
Ask the dealer:
Do you offer a full, written, timekeeping and water resistance guarantee with your watch for one full year?
5. Get the model and serial number.
Make
sure you get and check the model and serial number of the Rolex before
buying. The dealer should give you the opportunity to take the bracelet
off and check the numbers located between the lugs.
The serial
number is usually located next to the “6 O’clock” point of the dial and
can tell you the approximate age of the watch. The reference number is
located next to the “12 O’clock” point of the dial and is engraved with
the phrase “ORIGINAL ROLEX DESIGN” and a 4-5 digit number under it.
This
number must match the model. Note that some better fakes may have
serial numbers, but they are generally acid etched in and not engraved.
If the watch does have a serial number but it looks poorly engraved or
barely etched then do not buy it! In 2005, Rolex started engraving the
case’s serial number in the inside edge of the case at the “6 O’clock”
position, under the crystal and below the bezel.
6. Take your time deciding.
Whether
you are buying a new or pre-owned Rolex, choose carefully and don’t
allow yourself to be rushed into buying. Do your research, and if
necessary, ask the dealer to hold the watch for you for a day or two
while you consider buying it.
Trust your instinct: if the deal
sounds too good to be true, then it probably is. Make sure you are 100%
satisfied with the watch and the purchase—this is an heirloom item that
should last your lifetime and be handed down to the next generation.
Finally, once you buy, insure it and enjoy it!