The Economics of Used Rolex Watches: Why People Are Willing to Pay More

💰Limited supply and high demand have driven prices of used Rolex watches above the cost of new ones.

⌚️Waitlists for new Rolex watches can last months to years, leading people to search for pre-owned options.

📈The used watch market is growing faster than the primary market, with online resale platforms playing a significant role.

🔮Rare styles and discontinued models can be more valuable in the resale market due to their exclusivity.

🔄Rolex has introduced a certified pre-owned program to enter the used watch market.

Why are used Rolex watches more expensive than new ones?

—Limited supply and increased demand have driven up prices in the resale market, surpassing the cost of new watches.

Why do people buy used Rolex watches instead of new ones?

—Buying used Rolex watches allows people to bypass long waitlists for new watches and acquire rare styles and discontinued models.

What has contributed to the growth of the used watch market?

—The rise of online watch resale platforms has significantly contributed to the success and growth of the used watch market.

Why are rare styles and discontinued models more valuable in the resale market?

—The exclusivity and scarcity of rare styles and discontinued models make them highly desirable among collectors, driving up their value.

Has Rolex entered the used watch market?

—Yes, Rolex recently introduced a certified pre-owned program to tap into the used watch market.

00:03A new Rolex Daytona watch costs $14,800, while a used one can cost over $38,000.

00:17The demand for Rolex watches has exceeded the brand's production capacity, leading to long waitlists.

01:25The secondary market for pre-owned watches, including Rolexes, reached $22 billion in 2021.

02:22Online watch resale marketplaces have played a significant role in the growth of the used watch market.

04:06Rolex recently launched a certified pre-owned program to verify and sell used watches.