How much is a used Rolex worth? Asked Ryan
Hi guys! I have a Rolex Men’s watch, a Daytona Cosmograph that I would like to sell. My model comes in Steel and Yellow Gold. The reference number is 116523. I decided to sell this Rolex Daytona because I would like to buy a new model. I think a little bit of change is good for me. I used this watch with great care so there are not many signs of usage. Please tell me how much is a used Rolex watch worth.
Ryan from Los Angeles in California
Ryan, thank you very much for contacting the reDollar team of experts. I’m happy to assist you with your concern. Watches are my great passion and together we will find out the market value of your used Rolex Daytona. The Rolex Daytona is a wide-spread Rolex watch model, if not even the most popular one. According to a latest market research, the Rolex Daytona is the top seller among all Rolex watches, closely followed by the GMT – Master, the Yachtmaster, the Submariner, and the Datejust model. Let’s get started right now with the value assessment of your Rolex Daytona Cosmograph.
reDollar appraiser, Steve Redrich
Ryan wants to know, how much is a used Rolex watch worth
Ryan: Hi Steve! Thank you for your response. It’s not a simple decision to sell my Rolex Daytona but I would like to buy a new Rolex and unfortunately I can’t afford to buy a new one without selling the old model. The prices for new Rolex watches are significantly higher than for used ones, that’s why I hope to gain as much money for my used Rolex as possible.
Steve: Ryan, I fully agree. Brand-new Rolex watches have their price, that’s the reason why the market for pre-owned Rolex watches and other luxury watches is flourishing. You can buy used luxury watches for attractive prices even when they are in great condition. In addition to that, the market for used Rolex watches allows you to find models which are already off market since decades, so it’s also a fascinating marketplace for collectors and Rolex enthusiasts. But also brand-new watches have their legitimate reason for being. I fully understand the arguments of preferring a new and unused watch than a used one. It’s a matter of taste and not least a matter of money.
Ryan: Yeah, that’s exactly what I think. I would like to buy a new Rolex model which was presented at the Baselworld watch show in Basel, Switzerland. It’s the new model of the Rolex Oyster Perpetual, an unpretentious, classic model simply in Steel.
Steve: That sounds great! I’m sure you will make a good buy. I like this model a lot, a very elegant but unobtrusive Rolex watch. Let’s come back to your used Rolex Daytona. Do you have a certificate belonging to your Rolex?
Ryan: Yes, I have papers and the original box of my Rolex. I bought this watch in 2006. The case diameter of my Rolex Daytona is 40 mm. It has a sapphire glass, and a white dial. The case material is 18 Karat gold and stainless steel. The reference number of my used Rolex Daytona is 116523. It has a 4130 calibre and a perpetual, self-winding mechanical chronograph movement.
Steve: The two-tone bicolor cases are also called Rolesor. Rolex registered this name in 1933 and it stands for the combination of steel and gold in a single watch. I see you are well-informed, that’s great. I know your Rolex watch very well. I had hundreds of Daytona models on my desk. What can you tell me about the condition?
Ryan: I would describe the condition of my Rolex as mint. I didn’t use it very often and if so, I took great care. For me, a Rolex is not only a watch, it’s also an investment. That’s why I kept the condition well.
Steve: Yes, that makes absolutely sense. I know many people who collect luxury watches but not only for the reason to wear it, also for investment reasons. Wealthy people try to spread their investments as wide as possible. And beside art, precious metals and diamonds, also luxury watches are a popular investment.
Ryan: That’s true. How much is a used Rolex like mine worth? Can you tell me a price Steve?
Steve: Yes of course. On basis of your given information, I would estimate a market value of approx. $10,000 for your Rolex Daytona watch.
Ryan: That’s awesome! That’s a little more than I have assumed. Great! To that conditions I would like to sell my Rolex Cosmograph Daytona. That’s a fair amount of money.
Steve: I’m glad that you are happy with my value assessment. If you would like to sell your used Rolex watch on basis of my assessed market price, then I would refer you to our customer support representatives who will guide you through the sales process. Should I do so?
Ryan: Yes for sure. Thank you for your time, Steve. I’m more than happy with your result.
Steve: You are more than welcome Ryan. If you need further assistance, please let me know. Our team of experts is always available for your concerns.
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