1.Find the right seller.

Buying a Rolex Wrist watch is similar to buying a new car, it can be purchased from authorised Rolex Dealers, or it can be bought by an independent seller selling new or pre owned watches. If you want to buy a current model but save on the new price, or if you are looking for an older model that is no longer available, then buying from an independent might be your best option. But even buying a pre-owned Rolex is expensive, and it is recommended to always purchase from known sellers, or trust worthy ones

So, to avoid wasting your money, or over thinking it, here is the first tip:

Only buy a Rolex from trusted dealers who have a registered business name and a valid Second Hand Dealer’s license. Always make sure that the seller is legit before participating in any transaction of any kind. Ask them the following questions:

• Do you have a store, an office or any location I can visit?
• What is your Second Hand Dealer’s license number?

 

 2.Be certain that you are buying a legitimate Rolex

It wasn’t until recently that fake Rolex watches were impossible to distinguish from the real thing. A few decades back, everyone could tell the difference. Nowadays there are many convincing copies that are selling just as well as the originals, at a somewhat lower price.

Additionally, if you buy a fake Rolex watch, you will most likely have no after sales service support, and you will have trouble finding the correct way to get your watch repaired, as it would be impossible to attend the official Rolex Service Center.

Very often the fake Rolex will come with “enhancements”, where a diamond bezel or dial or even dial and hands are added. Although these enhancements will seem genuine, they may not be. Pay close attention to people selling “Rolex Style” watches that are made to look like Rolexes, there are many similar descriptions that are very important to know, as they are an obvious giveaway.

An honest seller would never offer a Rolex copy, or a “Rolex Style” watch, nor would he try to assemble watches from parts of genuine luxury watches. Pay close attention to what the seller’s available items are and how they are represented, as it will give you a clear idea of what type of seller he is.

To sum up, here is tip number 2:

 

Be very clear and explain yourself very firmly that you are not interested and have no intention to buy anything else but a 100% genuine, unaltered Rolex watch.

Ask them the following questions:

• Do you offer an unconditional money back guarantee that the watch is completely genuine, authentic, unaltered Swiss made Rolex watch?
• Do you also offer an unconditional guarantee that the bracelet does not contain any non-Rolex parts?

 

3. Inside matters just as much as outside.

Luxury watches and particularly Rolex watches have a very precisely crafted mechanical inner working with a performance comparable to the best and most complex machines.

The insurance that is offered by Rolex lies in a trust-worthy service offered by competent Rolex-trained technicians who have at their disposal all the genuine Rolex components that could be needed to perform any tasks.

To get back to the car metaphor, you wouldn’t buy a Ferrari unless it had a certified Ferrari engine. The same applies with watches, you need to be certain that the mechanical aspect of the watch is genuine and has no suffered any alterations what so ever.

But how could you possibly know with a limited technical knowledge? It is often recommended to find a trust worthy specialist that has years of experience with luxury watches. Whatever you decide to do, you must avoid wasting your money on a watch that isn’t worth it, and sometimes it’s better to spend a moderate sum of money by hiring a specialist, than wasting a very large sum of money in buying a fake watch

So here is our tip number 3

Only buy a Rolex watch that have a certified Rolex Service Center or a reputable and experienced independent watchmaker specialist known to work on the highest grade and who guarantees his work and the watch’s performance. Ask them the following questions:

• Do you offer a full, written, timekeeping and water resistance guarantee with your watches?

 

4.  If it seems too good to be true, it probably is.

 

The Swiss made Rolex watches are the most popular Luxury watches in the world, and because of their high demand and popularity, they have been selling in ever increasing amount throughout the globe. With the 21^st Century and the Internet uprising and the expansion of the pre-owned market, buying Rolex watches world-wide has now become a very usual transaction.

One of the consequences of that, is that international internet prices of luxury watches have reached a plateau because they skirt around the taxes and duties imposed on home-based sellers. Another consequence is that of all the different watches being sold online, many could be non-genuine, as it is impossible to verify beyond the shadow of a doubt during an online purchase.

If you seem to stumble across the cheapest Rolex or any luxury watch you have ever seen online, even if they “guarantee” that the watch is genuine, do not engage in the transaction unless the service in question is backed up by official, well known services to support the guarantee. As the saying goes, if it’s too good to be true, it probably is.

The tip number 4 is

Good quality is expensive. If a deal sounds too good to be true, it is. Ask yourself the following questions:

• What do I find attractive in this particular watch?
• Am I getting the best possible value for my money?

 

 5. Serial and model numbers

 

Before buying a pre-owned Rolex watch, there is something that is very important to know. All genuine Rolex watches carry a serial and model number and it is essential that your Rolex seller disclose these numbers to you because they will accurately identify the correct model and the year of manufacture.

Honest watch sellers will willingly disclose both serial and model numbers to you and help you decode them so you can be sure that you are in fact, buying an authentic watch.

With these numbers and access to http://www.clockmaker.com.au/rolex_serial_numbers.html you can verify the authenticity of the watch and make sure that the appearance matches what you are buying, as well as pay close attention to the probably level of wear. An exception would have to be made for the professional range Rolex or antiques, which would have little to no wear.

If you seller is reluctant, or unwilling to disclose both the serial and the model number, you should end the transaction at once, because it is unlikely that the watch is genuine. In addition, a reputable Rolex watch dealer must record the model and serial number of any newly acquired item within 24 hours, and electronically transmit them to the police. This tracking and tracing system helps to limit sales of fraudulent watches, while separating the honest dealers from those to be avoided.

The tip number 5 is:

A Rolex watch serial and model numbers are vital information which must be disclosed by the seller. If he is unwilling to disclose it publicly, then you should not deal with him. Ask them the following question:

• What is the serial and model number of the watch?
• Have you submitted the numbers to the police for proper tracking?

 

6. Tax evasion

 

Some businesses deliberately avoid their taxation obligations through dubious and fraudulent practices, significantly disadvantaging those committed to their taxation responsibilities. Some signs that your Rolex seller is engaging in these illegal practices would be his insistence that there is no need to be registered for Goods and Services Tax (GST) while repeatedly exceeding the GST threshold; obviously and incorrectly charging a GST rate that is not appropriate; reluctant to provide the purchaser with an authorised receipt; generating false invoices; falsifying the identity of the business. A business operating under these practices has a very significant and overhead advantage when compared with others ethical businesses that comply with the law.

The tip number 6 is

Failing to declare income for the GST is illegal. Always request a tax invoice and do not deal with a business that will not provide a valid tax invoice. Ask them the following question:

• If I buy a Rolex from you, will you provide a tax invoice?

 

 7. Don’t rush, take your time! It’s for you!

 

Buying a luxury watch, as stated previously is like buying a luxury car. The process is accompanied by a high level of excitement and maybe an element of trepidation given the significant financial investment.

The seller’s objective is to sell, but a good seller will want to keep his customers happy, and have them come back. He will allow you to take your time, and chose wisely and carefully. They will not pressure you to buy or try to affect your decision without giving valuable information about the product. For the customer, the ultimate goal is the satisfaction and the guarantee that the financial investment has been successful due to a quality purchase.

A good watch seller will encourage you to take your time, and do research on the watch’s Serial and Model number, he will guide you through the process of buying the watch, by giving you explanations at every turn. If you feel like you want to purchase the watch, but you want to wait a few days, feel comfortable to ask the seller to “hold” the watch for you. A good seller will do whatever it takes to make you happy and will put the watch aside for you, even without requesting a deposit. Purchasing a luxury watch is a large investement, and it is important to read carefully through the documentation. Go online at:

http://www.fairtrading.nsw.gov.au/Consumers/Refunds_and_warranties.html

The tip number 7 is:

Whatever you buy, take your time, choose carefully, do not rush and do not allow the seller to rush you into the deal. Ask them the following question:

• I would like to do more research about the watch, would you hold it for me for a few days without holding a deposit?

 

 

8. Insure your investment!

Once you have purchased your Rolex watch, it is important to insure it, like any other valuable item, it is important to make sure that your watch is covered for theft, loss or damage.

It is evident that the relatively small cost of insuring your Rolex outweighs the risk of losing the value altogether. The process is straightforward, simply contact your insurer immediately after making the purchase, and send him a fax or an email with the copy of the Insurance Valuation Certificate. These documents are provided by all reputable watch sellers with no additional cost to the customer.

The tip number 8 is the following:

Your Rolex watch is valuable. Insure it!