Purchasing a brand new Rolex can be both an exciting and intimidating venture; especially if it’s your first luxury watch purchase. So, today we’ve put together a list of what it takes to buy a brand new Rolex watch and what your chances are of actually scoring a highly-coveted sport model from your local authorised Rolex dealer.
A Little (or a lot) of Homework
Purchasing a Rolex is an investment and so you should definitely do your research before you buy. Whether that’s watching reviews online, reading blog posts, speaking to friends or even heading into a store and speaking with a sales associate there’s so much to learn about these watches so take your time. It’s always good to speak to someone who owns a Rolex too as they’ll be able to provide insight on things you might not have even considered. Rumour has it that knowing your stuff may also get you in your local dealer’s good books too as they know you’re serious. Finally, you need to research because sadly there are some fakes that circulate, and by doing your homework you’ll be able to successfully authenticate any Rolex watches you’re considering purchasing.
A Good Track Record with the Shop (Sometimes)
Some Rolex models are rarer than others and because of this, stores usually reserve them for their most prestigious clients with whom they already have a good relationship. It’s not uncommon for Rolex stores to not have any sports models in store, and if they do, they usually won’t just let anyone walk in and buy them. This is especially so if it’s your first time shopping with them. Sports models include the Daytona, all variants of the Submariner and the GMT Master. If you really want to buy one of these models right now and don’t already have a good relationship with an authorised dealer, you could consider purchasing them preloved. However, due to how rare models are, they sometimes sell for far more than their RRP. One family recently sold a classic and very rare Submariner for £175,000.
The Wait List
If buying preloved isn’t for you and you’re adamant that you want one of the above mentioned ‘sports models’ you need to be prepared to wait, but you might be able to get yourself on the waitlist. However, this waitlist could span years and more prestigious clients will take priority on deliveries. There are ways to improve your chances of moving up the waitlist though. You can start by building genuine relationships with the staff at your local authorised dealer, and of course, you should be polite to them. They’re also going to take your purchase history into account so it’s worth choosing one dealer and sticking to them for all your purchases. If you have your sights set on a very popular and rarer model, then you should consider buying another model first as it’ll establish the relationship and will show you’re serious.
Models With Better Availability
If you’re not too fussed on the model and just want to buy a brand new Rolex as quick as possible, then usually the Datejust, Oyster Perpetual and Pearlmaster have a lot more availability in stock; and there are a bunch of combinations to choose from that’ll help you to look unique. These are the models that you can usually purchase the same day without having to go on the waitlist. Also, any models that aren’t made of precious metals tend to be easier to find. So, if you’re happy to settle with an Oystersteel strap you could be in luck.
Last but not least, you need to have a hearty budget. A brand new Rolex is considered quite a high ticket product with prices starting at around the £5,000 mark. However, the good thing about Rolex is that they don’t allow their authorised dealers to charge more than the RRP so prices are the same pretty much across the board. Of course, some models cost several thousand and even tens of thousands of pounds; the all-gold Rolex Daytona, for example. However, models like this are super rare and you’d struggle to buy it brand new anyway. With a budget of around £5,000-£10,000 you should be able to easily purchase one of the more mainstream models.
So, as you can see, buying a brand new Rolex isn’t as easy as just walking into the shop with cash and buying one, however, it’s not impossible to buy the watch of your dreams with a little patience and the wait will most definitely be worth it.