Believe it or not, truly great luxury watches are rarely owned by just one person, and many Rolex watches have multiple owners over their lifetime. Whether passed down to a descendant of the same family or sold on the open market, most high-end watches will likely go through multiple hands on their journey.
The watch’s longevity and timeless appearance allow it to hold its value well and in many cases appreciate. That’s why the antiques and second-hand industries are so strong, and Rolex’s share of that pie is estimated to be around $100 billion.
That’s great news for buyers and sellers alike, a vibrant market waiting and willing to pay premium prices for watches that owners want to sell or upgrade. Many of our clients are trading their existing watches in order to buy new editions or possibly older editions if they collect vintage Rolex watches.
The Rolex Submariner is a prime example, having undergone numerous major and cosmetic tweaks and updates during its nearly 70-year career as the world’s most popular diver’s watch. A major update took place in 2010, number 116610 received an updated case design. The 116610 gets an updated case design and a bezel made from Rolex’s proprietary ceramic bezel, called Cerachrom. In addition, for 2020, Rolex has increased the size of the Submariner from 40mm to 41mm and updated a new generation of in-house movements.
Many older models from the 1990s and early 2000s, stainless steel ref. 16610, decided to sell their replica watches or exchange them for a more modern version with a ceramic bezel. Given the strength of the Rolex pre-owned market, this makes it a very cost-effective way to upgrade your watch.
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