- Fashion and Beauty
Is Now The Time To Make An Investment In Rolex Watches?
If You Believe...
I never needed an article written by some reporter in London to tell me to invest in a Rolex watch. I always knew that these classic timepieces were something to cherish and pass down to your children because their value would continue to creep up as time (no pun intended) passed.
However, on January 24, 2009 in the London Times, an article titled, "With shares sinking, now could be the moment to invest in a timeless Rolex," my beliefs have been validated.
The reporter quotes Matt Bowling, sales director at watchfinders.co.uk, as saying that Rolex is the watch to buy if you want a good investment. The best Rolex watches to invest in are the larger, sportier watches such as the Submariner Date, the Sea Dweller or GMT-Master.
These three watches are the highest in demand and hold their value the best. I guess that's good news for me (read my hub titled, "My Rolex Submariner Purchase Experience"). However, what's the better market to invest in: The new watch market or the used watch market?
New Or Pre-Owned Rolex Watches: What's The Better Investment?
Matt Bowling again says that purchasing a pre-owned Rolex, especially one of the models listed above, is probably the better way to go. Good deals can be found if you look in the right places such as at auctions, or on eBay and Craigslist, or in your newspaper classified ads. Since retailers keep raising the price of new Rolex watches, you'll see a better return on your money for a pre-owned Rolex watch in the long run.
In fact, some self-proclaimed Rolex watch experts, make good money buying and selling them as a hobby. Take the story of Joel Reid, a security consultant and Rolex buying and selling hobbyist. He was lucky enouth to make a £1,500 profit from selling a Rolex Daytona, then buying it back, and selling it again!
The Best Rolex Years: What Were They?
Paul Maudsley, director of watches at Bonhams, the auction house, says Rolex watches from the 1960's such as the Submariner, GMT-Master and chronographs, are the more popular models that hold their value--at least with men that fancy cars and watches. Watches from this era (especially the ones mentioned above) are definitely a good investment. Maudsley noted that 18 months ago, a Rolex GMT-Master from 1960 would have cost £4,000. This past December, they had one sell for £9,500!
The Bottom Line
In my opinion, you should buy and keep the Rolex watch that you fall in love with. If that happens to be a Submariner, a GMT-Master, a Sea Dweller, or any other popular Rolex model that rises in value, then great. If not--so what.
Unless your Rolex purchase is strictly a business transaction because you're in the luxury watch game to buy low and sell high, then the only thing that should matter to you is that you love your Rolex--whatever model you choose; not whether or not it's popular, or that it will rise in value over time.
Love your Rolex, and it will love you back! Now how's that for sickly sweet and slightly disturbing!
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