Buy new or used??

[VABCHRNR4]

hey i'm getting really close to buying my first Rolex and I cant decide if I should go new or preowned? I have been looking between the TT Sub and a SS Yacht....I have an opportunity to buy a 2002 SS Yacht for $5600....I would rate it at about 95%...It has all the original boxes, papers, receipts, etc....A new Yacht locally here prices for about $8500...Thats a pretty big savings...What is everyone's opinion about buying a new or preowned for your first buy??

any suggestions would be great!!

Thanks

[GoldenBear]

I think it's like buying a used car. You never know what you are going to get. With a new one, you have a safety net. What I did back in the day, I wanted a TT but couldn't afford it. I bought a SS sub instead. I wore it and loved it for 10 years. By then, I could afford anything I wanted so I got a TT. Now I have both. The other option is, IF you have the $6500 in hand, buy the more expensive one and finance the rest. You'll hardly miss the couple of hundred a month that you'll be paying. If you are financing the entire thing...yikes...go less.

[roadcarver]

If you have not done your homework on Rolexes or any other watch that you are looking to buy, I suggest you buy new. You will have peace of mind knowing that your hard earned $$ are going to a genuine watch purchase.

I myself have bought pre-owned on all my Rolexes but have done the homework on both the watch and the seller.

[Woody]

One of the members of this group made a good point a couple of days ago about only ever been unhappy with a purchase/decision when he had opted for "second best". If you are happy that the pre-owned watch is everything you have been looking for then great, go for it and save a few $ - if not and 95% is not good enough then suggest you go for the new option (there are posts every few days on this forum by members who are looking to flip watches within weeks or even days of a purchase in order to buy the watch they really wanted - so take a lesson from them).

[Rubenonfire]

Always a popular question!
It depends on what YOU want. When I bought my GMT (which is my first Rolex) I went BNIB from an AD. I wanted to have that experience, the paperwork in my name, etc. Because it was my first one (and for sure one that I will hopefully never sell) I wanted it to be ALL mine from day one.

That was a decision based on emotion, however, and I also had the financial means to pay for it under those circumstances. As I've said before, from here on out I will probably either go used or grey-market for my future Rolexes. It's a financial decision now that I've satisified the emotional component. Buying a Rolex IS like buying a used car, you don't really know what exactly you're getting (unless you've done your research), but if your Rolex breaks down you don't have to walk or take the bus. Why not let someone ELSE take the big hit of depreciation and leave you with a watch, that if you've carefully done your research, is as good as new and also hundreds (potentially thousands) of dollars less expensive?

In the end it's a personal decision based on what you want, both emotionally and financially. There are pros and cons to both...figuring out your own priorities is what loving Rolex is all about.

[chc4au]

I have bought new from AD and have bought used. I think one other option which i have done a couple of times is new gray market.
While I like having the "NEW AD EXPERIENCE" the $$ you can save going gray market is nice also.
What ever you decide do your homework and you will come up with what is best for you. Buy the way the only watch I have ever bought and paid full retail including tax was a SS Daytona. I went to an open house at my local AD saw the watch and bought it on the spot. (Then took my wife so she could buy something of equal value)

[Dan Pierce]

I've purchased from AD's but both my Rollies were purchased used. Really gotta do your homework and buy the seller. If your seller would accept a trip to an AD for verification, has all the boxes/ paperwork, and/ or is someone you really trust, then you have to make your best judgment. It can and has be done. But again, be careful.
Good luck,
dP

[RT]

Originally Posted by Dan Pierce

I've purchased from AD's but both my Rollies were purchased used. Really gotta do your homework and buy the seller. If your seller would accept a trip to an AD for verification, has all the boxes/ paperwork, and/ or is someone you really trust, then you have to make your best judgment. It can and has be done. But again, be careful.
Good luck,
dP

************************************************** ********

Hey Dan: Let me jump in to let you know that the Rolex pullover arrived today and it is as good as it appeared in the picture. I am really happy with it. I hope your jacket will turn out as good also.

[JJ Irani]

NEW!!

[Dan Pierce]

RT,
You'll get a lot of use out of that, congrats. Yes, recieved the Rolex/ Kentucky jacket and it's a winner. Fit's my monkey arms. Problem is, gotta put it away for about 6 months. We'll be steppin' out this fall though.
dP

[RT]

Originally Posted by Dan Pierce

RT,
You'll get a lot of use out of that, congrats. Yes, recieved the Rolex/ Kentucky jacket and it's a winner. Fit's my monkey arms. Problem is, gotta put it away for about 6 months. We'll be steppin' out this fall though.
dP

************************************************** ********

Fortunately, my pullover is light and it is just perfect for the San Francisco summer nippy nights (days too). Glad you like your jacket also.

[Obsession]

buy used Rolex is very good idea if you buy a Rolex year 2003-now with all papers, boxes and if there is %100 OK at AD check and if you see and know the seller a little bit with his behaviours, you can make guesses how it was used. Just buy a used Rolex where you can have chance to see and test the watch at AD or buy an used Rolex from AD if you can find, and it's good idea to save money and in any case of a need of cash you can sell the watch with the same price you bought.

[eduardogmtii]

I bought used, but to be honest I would never buy on the Internet, or from someone other than a good friend. Even then I would ask to have the watch looked at by a dealer.

[mike]

Originally Posted by VABCHRNR4

hey i'm getting really close to buying my first Rolex and I cant decide if I should go new or preowned? I have been looking between the TT Sub and a SS Yacht....I have an opportunity to buy a 2002 SS Yacht for $5600....I would rate it at about 95%...It has all the original boxes, papers, receipts, etc....A new Yacht locally here prices for about $8500...Thats a pretty big savings...What is everyone's opinion about buying a new or preowned for your first buy??

any suggestions would be great!!

Thanks

I assume you mean the SS/Plat. YM. It's a beautifull watch. IF you do your homework and all checks out, buying the 02 isn't bad. Send it to RSC for service (about $500) you'll have $6100 in essentially a new watch with a one year Rolex warranty.

[walds11]

Pre-owned all the time for me. You'll save a bundle. Just make sure you do your homework.

[Flyjet601]

I only buy NEW!

...unless you really know what to look for and DO YOUR HOMEWORK. Know everything there is to know about a particular model.

I have heard to many people getting burned...more failures than successes.

Good luck with whatever you do.

[RT]

Originally Posted by Flyjet601

I only buy NEW!

...unless you really know what to look for and DO YOUR HOMEWORK. Know everything there is to know about a particular model.

I have heard to many people getting burned...more failures than successes.

Good luck with whatever you do.

************************************************** ********
"I only buy NEW!"

Well, excuse me!!

[Oyster Lover]

Maybe look at it this way: the price difference is basically $50 a month (for the 5 years). Would you pay $50 a month for that "new watch smell", having the paperwork be in your name, this be YOUR watch from the get-go, etc.?

That watch lived on some stranger's wrist for FIVE years.... And as its been five years, it's due for a $500 service anyway...

I wouldn't want to wear anything that lived on someone's wrist for that long! (maybe 1 year, but 5?)

[RT]

Originally Posted by Oyster Lover

Maybe look at it this way: the price difference is basically $50 a month (for the 5 years). Would you pay $50 a month for that "new watch smell", having the paperwork be in your name, this be YOUR watch from the get-go, etc.?

That watch lived on some stranger's wrist for FIVE years.... And as its been five years, it's due for a $500 service anyway...

I wouldn't want to wear anything that lived on someone's wrist for that long! (maybe 1 year, but 5?)

************************************************** ********

Bear in mind that NOT everybody wears his Rolex watch everyday. Most Rolexes are worn for special occasions. Even though the watch may be 5 years old, in reality it may have been worn less than 10 times for very short durations.

[C.J.]

New is great, but expensive. I've bought pre-owned several times and never had a problem

[Oyster Lover]

Originally Posted by RenoTommy

************************************************** ********

Bear in mind that NOT everybody wears his Rolex watch everyday. Most Rolexes are worn for special occasions. Even though the watch may be 5 years old, in reality it may have been worn less than 10 times for very short durations.

Very true - it's also a good consideration! For instance, I've had my GMT-II for almost two weeks now, and haven't yet even worn it out once, as I'm so in-love with my LV!

(although I have to admit I've watched TV with it on a couple of times... )

[RT]

Originally Posted by Oyster Lover

Very true - it's also a good consideration! For instance, I've had my GMT-II for almost two weeks now, and haven't yet even worn it out once, as I'm so in-love with my LV!

(although I have to admit I've watched TV with it on a couple of times... )

************************************************** ********


I wouldn't hesitate to buy your GMTII 5 years from now and save thousands.

[Oyster Lover]

Originally Posted by RenoTommy

************************************************** ********


I wouldn't hesitate to buy your GMTII 5 years from now and save thousands.

Well, actually, the way I'm planning this, is that I'll be able to double my money in five years! This one is the last GMT series ever, and once the watch is discontinued (essentially now), the price will just keep going up and up, as it's a classic!

[LouCan]

New is the way to go. i bought a used sub ss/18kt 3 yrs ago and i love the watch but not 100% happy. I now have a YM ss/18kt MOP on order from a AD . I Now feel Wonderful about my purchase. my Wife is the one who said to go with new this time and i am glad i did. BUY NEW FROM AD is my advice
GOOD LUCK

[RT]

Originally Posted by Oyster Lover

Well, actually, the way I'm planning this, is that I'll be able to double my money in five years! This one is the last GMT series ever, and once the watch is discontinued (essentially now), the price will just keep going up and up, as it's a classic!

************************************************** ********

I don't mean to "rain on your parade", but investments like these are very unpredictable. I see that you live in the USA. and probably remember those Cadillac convertibles back in the late 1970's. They were supposedly the very last ones that GM would ever make. At that time many people thought they would become classics and thus commend a very high price. A couple of my friends went out and bought two brand new ones, planning to sell them in the future to make a huge "killing". They wound up losing their shirts.

Throughout the years, Rolex made a lot of different models of watches and great many of them have been discontinued. Save for a very few models, I don't see many of them have gone skyrocketed in prices. So buy and wear your watch because you enjoy it, and not because you expect to make money by "flipping" it later. Actually there are other threads last week about "flipping" watches which you may wish to check them out.

[mcubed]

I bought my sub used from a certified watchmaker who specializes in Rolex repairs and restorations. Saved a good deal from new (though I payed more than buying from a private owner) and got a year warranty. It's a good alternative

[Oyster Lover]

Originally Posted by RenoTommy

************************************************** ********

I don't mean to "rain on your parade", but investments like these are very unpredictable. I see that you live in the USA. and probably remember those Cadillac convertibles back in the late 1970's. They were supposedly the very last ones that GM would ever make. At that time many people thought they would become classics and thus commend a very high price. A couple of my friends went out and bought two brand new ones, planning to sell them in the future to make a huge "killing". They wound up losing their shirts.

Throughout the years, Rolex made a lot of different models of watches and great many of them have been discontinued. Save for a very few models, I don't see many of them have gone skyrocketed in prices. So buy and wear your watch because you enjoy it, and not because you expect to make money by "flipping" it later. Actually there are other threads last week about "flipping" watches which you may wish to check them out.

Absolutely - I don't disagree - I was pretty much joking about doubling my money! I did buy my Rollies because I like them, and will wear them, and in particular I was in a rush to buy the GMT-II because it is discontinued and this is pretty much my last chance to get the "new watch smell" in a GMT-II! Actually, a half an hour ago I took the watch sticker off the back of the watch, and am wearing it right now!

But on the other hand, I do think this style GMT-II will hold its value quite well... This style GMT-II is timeless and is near legendary... Once the supply dries up, I think a GMT-II (with all the paper work and goodies, from one owner, in pristine condition) will hold its value quite well (maybe it's wishful thinking!).

My predictions, however, on the Sub LV (may I never have to eat these words) is that there's money to be made on this watch, for the clever flipper:

(i) LV will be discontinued in 2007 (five years production for a 50th Anniversary watch);
(ii) Grey market price will increase immediately by $1,000
(iii) Within 5 years the watch will be selling for upwards of $10,000

Until then, it's my daily watch!

[RT]

Originally Posted by Oyster Lover

Absolutely - I don't disagree - I was pretty much joking about doubling my money! I did buy my Rollies because I like them, and will wear them, and in particular I was in a rush to buy the GMT-II because it is discontinued and this is pretty much my last chance to get the "new watch smell" in a GMT-II! Actually, a half an hour ago I took the watch sticker off the back of the watch, and am wearing it right now!

But on the other hand, I do think this style GMT-II will hold its value quite well... This style GMT-II is timeless and is near legendary... Once the supply dries up, I think a GMT-II (with all the paper work and goodies, from one owner, in pristine condition) will hold its value quite well (maybe it's wishful thinking!).

My predictions, however, on the Sub LV (may I never have to eat these words) is that there's money to be made on this watch, for the clever flipper:

(i) LV will be discontinued in 2007 (five years production for a 50th Anniversary watch);
(ii) Grey market price will increase immediately by $1,000
(iii) Within 5 years the watch will be selling for upwards of $10,000

Until then, it's my daily watch!

************************************************** ********

I do wish you all the luck with your watches. Undoubtedly, the GMTII is definitely a classic and the chances that the prices may go up after the supplies are exhausted. Sometimes, I really wonder if all these companies are following suit as Coca Cola......their gimmicks to increase their sales by discontinuing the most popular models only to re-introduce them again in a later date.......the Coke, the Camaro, the Firebird, etc. & etc.

[Oyster Lover]

Originally Posted by RenoTommy

************************************************** ********

I do wish you all the luck with your watches. Undoubtedly, the GMTII is definitely a classic and the chances that the prices may go up after the supplies are exhausted. Sometimes, I really wonder if all these companies are following suit as Coca Cola......their gimmicks to increase their sales by discontinuing the most popular models only to re-introduce them again in a later date.......the Coke, the Camaro, the Firebird, etc. & etc.

Thanks bud! But honestly, they're for wearing, not for sitting in da box waiting to appreciate in value! My AD, when he sold me my LV, said: "I'm glad you're going to wear it, I wouldn't want it to be bought by a collector..." I'm not a collector or a speculator, just a watch wearer!

[RT]

Originally Posted by Oyster Lover

Thanks bud! But honestly, they're for wearing, not for sitting in da box waiting to appreciate in value! My AD, when he sold me my LV, said: "I'm glad you're going to wear it, I wouldn't want it to be bought by a collector..." I'm not a collector or a speculator, just a watch wearer!

Good for you and meanwhile, enjoy!!