New Rolex Watches Are Beating their Original Retail Prices in the Resale Market

August 30th, 2021

Rolex has turned up with a range of exclusive watches for its enthusiasts in April 2021. And some of its latest launches created a buzz upon their announcement. However, according to the reports, the new Rolex watches outperform their retail prices in the second hand market.

rolex retail prices

If you are a newbie to the watch collecting industry, people will advise you to buy what you love or prefer and avoid perceiving luxury watches as investment pieces. However, this year, the report shows that a new Rolex watch purchased from an authorised dealer fetched a substantial return when sold in the pre-owned market. The selling price dramatically surpassed the timepiece original retail price. Please continue reading to know more about it.

The Booming Resale Market of Pre-owned Rolexes

Rolex introduced a new Rolex Explorer 36 Reference 124270 in Oystersteel at Watches And Wonders Geneva. The retail price of the timepiece was about £4,688. Interestingly, the value of this watch is between £7,287 and £8,174 on Chrono24. For those unaware, Chrono24 is the world’s biggest marketplace for luxury timepieces.

According to the reports, the Rolex Explorer 36 Reference 124270 was selling for a staggering 66.4% above its retail price. Another second hand watch retailer based in the UK reported that the value of this reference is going for virtually double its retail value at £9,200. Moreover, the market price ranges from £7,992 to £8,356 as per another pre-owned watch retailer.

Interestingly, the new two-tone Rolex Explorer 36 Reference 124273 is also enjoying a significant surge in the second hand market. The model saw a nearly 32.5% surge in its resale price over its retail price of almost £7,847. It would fall anywhere from £9,628 to £11,372.

According to Tim Stracke, Chrono24 co-CEO, Rolex has always been the most consistent coveted watch brand on their marketplace. And the value of Rolex models continues only to surge.

Also Read: 3 of the Best Rolex Watches to Invest in 2021

The Pre-owned Market Frenzy Has Reached a Fever Pitch

Rolex also introduced a new Explorer II Reference 226570 this year that retails for about £6,213. And according to some dealers, this model is the most difficult to track down today. They assert to pay 20% to 30% above the retail value. However, this Explorer II version also sells faster than other siblings. Nonetheless, the Explorers with white dial are typically more sought-after and fetch a higher value than their black counterparts.

For example, a renowned pre-owned retailer is selling the white dial Reference 226570 for £11,950. On the other hand, the black dial model has a slightly lower price at £11,450.

All new models Rolex launched in April 2021, including the ones mentioned above, and the Daytona Meteorite Dial is fetching resale prices above retail. The yellow gold Daytona Reference 116508 with meteorite dial retails for nearly £29,780. However, the watch is likely to command up to £66,950 in the pre-owned market.

Also, take, for example, the new Rolex Submariner Ref. 124060. It comes with a retail price tag of about £5,882. However, according to the estimate of Chrono24, the present value of this timepiece is between £9,351 and £10,051. Other pre-owned dealers are even selling the Submariner Ref. 124060 for as much as £12,325.

Overall, the new Rolex models are enjoying soaring prices in the pre-owned market compared to their retail price tag. Many watch enthusiasts, including you, may not be aware of what is currently going on in the pre-owned Rolex market. Now that you have got an idea, you can make an informed purchase decision. Or, if you own any of the new Rolex watches and want to raise instant cash, it is indeed the best time to sell your Rolex.

Get a free valuation now from one of the most trusted pre-owned watch buyers in London – The Luxury Hut.

Also Read: Is A Vintage Rolex A Good Investment? Complete Guide!

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