How to Sell a Used Rolex to a San Diego Rolex Buyer?

If you want to sell a Rolex or other high-grade Swiss mechanical watch to a San Diego Rolex buyer, this guide is for you. While Rolex watches are made to last a lifetime, many times people decide they want to sell their Rolex, perhaps to upgrade to a more unique model or to get some quick extra cash. Whatever your reason is for selling your Rolex, there are a few things that you should keep in mind when approaching a San Diego used Rolex buyer.

First thing to remember is that professional watch buyers look for original Rolex parts when assessing the resale value of your used Rolex. It is this resale value on which they base their purchase offer, not the retail value of a new Rolex watch. So, if at some point you (or someone else) added non-Rolex parts to your watch, this will lower its worth considerably.

How can you get the best price for a used Rolex? Well, one way is by keeping the original box and papers with which the watch was sold. This is very important to remember should you ever purchase a new Rolex, which might unexpectedly be sold some time in the future. Proper paperwork and boxes help assure the next person that purchases it from the San Diego Rolex buyer that the timepiece is not a counterfeit.

If the band on your Rolex is slack and/or dingy, this will affect the buying offer, because the used Rolex buyer will have to invest time and money in tightening up the band and making it appear like-new again. But whatever you do, do not try to refurbish the dial of your pre-owned Rolex before selling it. While dials of certain models are sometimes refurbished by highly trained watch specialists, collectors generally value the original dial more than a refurbished one. By refurbishing the dial you could significantly be reducing its resale value. In addition, don’t go ahead and try to fix your Rolex before selling it. A Rolex that is not working often will still bring a decent buying offer, especially if it is one of the most sought-after models.

Before going to talk with a San Diego Rolex buyer, know exactly what you are selling and what materials were used in the manufacturing of your timepiece. Is it made of stainless steel, platinum, or gold? If it’s a gold Rolex, is the gold 14k or 18k? Is it a solid color or two-tone gold? If possible, don’t leave these questions to the watch buyer to answer. Research your watch online and try to get the answers yourself.

Sometimes going to a dedicated Rolex buyer isn’t the best option for San Diegans. There are those who have a friend, co-worker, or relative that is interested in buying the watch, while others decide that they would like to try their hand at selling their Rolex on e-bay. If selling your watch to an acquaintance who has concerns about whether the Rolex is authentic or counterfeit, have them read this informative article: Real Rolexes vs. Fake Rolexes.

If going the e-bay route, sell only to buyers who are located in the United States, take a picture of your Rolex watch that shows the serial number before shipping it, and for receiving payment use a Paypal account that is linked to a bank account with only a very small balance to protect you from fraud.

Lastly, before going to a San Diego Rolex buyer to sell a Rolex watch, check them out with the Better Business Bureau and only deal with those business that have been operating for more than a year, have an A or A+ rating, and who specialize in Swiss timepieces.

Patek Philippe Watch Sold for Millions at Auction

San Diego watch enthusiasts will be glad to hear that rare timepieces continue to command top prices on the international market. A Patek Philippe perpetual calendar chronograph wristwatch went for nearly 6.26 million Swiss francs ($5.86 million) at a recent Christie’s auction. It was sold to a Swiss private museum and set a record for the highest price paid for a yellow gold watch sold at auction, according to Christie’s.

The 1943-44 watch features an avant-garde case design and was a forerunner for future generations of complicated wristwatches. It was sold as part of a 20-piece collection put up by an anonymous seller.

“I started buying watches in the 1970s, at a time when these amazing objects appealed to very few collectors and even fewer scholars were exploring this charming field. In my opinion, wristwatches are the most beautiful wearable item created in the 20th century,” Christie’s quoted the anonymous seller as saying.

Aurel Bacs, international co-head of Christie’s watch department, called it the “Mona Lisa of all watches.”

“European bidders were fiercely challenged by international collectors, especially buyers from China,” he said of the sale.

The name of the museum wasn’t revealed, but Geneva is home to a Patek Philippe museum, which contains the best pieces made by the independent watchmaker. The entire collection netted 16 million Swiss francs, making it the most expensive private collection of watches ever sold.

The Year’s Biggest Watch Auction

Bloomberg is reporting that Christie’s International raised 19 million Swiss francs ($19 million) in the biggest watch auction this year. Included in the lots was a collection of 10 Patek Philippe watches for almost double the low estimate.

Nine of the top 10 lots were Patek Philippe, and one was Rolex, in the auction that took place in Geneva. Christie’s estimates the entire sale to raise 10 million francs to 15 million francs.

The most expensive timepiece was a Patek Philippe 18-carat gold watch with a calendar that adjusts for leap years, sold for 2.4 million francs to a Swiss museum, Christie’s said. The collection of Pateks sold for 5.8 million francs.

Watch auctions have been successful, reports Bloomberg, even as Swiss watchmakers suffer from the worst recession since the Great Depression. Rare pieces continue to attract more demand than newly made watches, as Swiss watch exports have dropped 26 percent in the first nine months of this year in value.

A Sotheby’s auction of timepieces in the same Swiss city on Nov. 15 raised 5.1 million francs, within the auctioneer’s estimated range of 4.15 million francs to 5.71 million francs.

In other watch news, the family that controls Porsche SE, the maker of the 911 sports car, is selling watches from its private collection at a charity auction in London today.
Ferdinand Alexander Porsche and his sons have entered 49 watches into a sale to be held by Bonhams on Dec. 2.

The group includes examples by Eterna, Porsche Design, Rolex, Panerai, Jaeger LeCoultre, Breitling and Omega, is expected to fetch 100,000 pounds. Proceeds will be donated to the oncology research department of the Robert Bosch Hospital, Stuttgart, Germany, said Bonhams.

Consumer Alert: Online Watch Buyers Beware

San Diego watch buyers looking for deals on used watches, such as second-hand Rolexes and Patek Philippe timepieces, should proceed with caution. The North County Gazette reports that a watch enthusiast has been charged with defrauding a California man out of $100,000 by offering a nonexistent Patek Philippe watch for sale on an internet website that targets watch collectors. The man in question was charged with second-degree grand larceny, second-degree criminal possession of stolen property and first-degree scheme to defraud and faces up to 15 years in prison if convicted.

The local District Attorney gave the following warning to online watch buyers: “While online shopping offers a certain ease and convenience over traditional store shopping, consumers should always be cautious and remember the old adage, ‘buyer beware,’ because shopping online, sight unseen, can potentially pose a big risk.”

Prosecutors say the charged man used a wireless connection to gain the Internet Protocol (IP) address of a neighbor and set up an account under the name Jonathan Miller. Thereafter the defendant is alleged to have made contact with an Oscar Ho of California, regarding the sale by “Miller” and the purchase by Ho of a Patek Philippe Model 5970G watch for $100,000. After a series of negotiations, Ho allegedly sent $100,000 by wire transfer to a Bank of America account belonging to the defendant. Despite repeated requests, Ho allegedly never received the watch.

Rolex Sets Record

National Jeweler has published an article covering the sale of watches and memorabilia from the late Steve McQueen, the legendary actor who rose to fame during the 1960s in films such as Bullitt and The Great Escape. The McQeen stash was among the pieces that inspired serious bidding at Antiquorum’s summer auction in New York City.

The June 11 auction brought in a total of $5,706,324, reports National Jeweler, with McQueen’s vintage Rolex, Ref. 5512, fetching an impressive $234,000, which was twenty times its estimate and a world record for that reference.

A total of 81 percent of the 416 timepieces in the summer auction were sold by lot and 122 percent were sold by value. Bids came in from across the globe, including from Hong Kong, Taiwan, Italy, Germany, France and Romania. In addition to the telephone, room and commission bidders, 478 bidders competed via the Internet.

Among the additional McQueen pieces featured in the sale were the actor’s Scott Super Squirrel motorcycle painted by Von Dutch, which sold for $276,000, double its estimate, and the Heuer “Monaco” he wore in the 1971 racing film Le Mans, which sold for a world record $87,600.

Other watches that sold for impressive amounts included Patek Philippe’s rose gold Ref. 5004 and pink gold Ref. 5970, which sold for $252,000 and $132,000, respectively, as well as Patek’s “Limited Edition Annual Calendar with Silicon Escape Wheel,” Ref. 5250G, which fetched a record $138,000.

Rolex’s “Double Red Sea Dweller,” retailed by Cartier, sold for $91,200, and Ref. 6239, a stainless steel “Paul Newman Daytona” attained $84,000, while the “Pro-Hunter Black-Carbon Daytona” sold for $42,000.

In addition, A. Lange and Sohne’s “Pour Le Merite” sold for $156,000, and Jaeger-LeCoulte’s “Platinum Master Minute Repeater,” sold for $126,000.

Christie’s May Auction

Thomas Mulier in Geneva reports for Bloomberg.com that Christie’s auction house raised 15.1 million Swiss francs ($14 million) in a watch auction in Geneva yesterday, after a rival Sotheby’s auction missed the low end of its estimated range. The top lot was a pre-owned Patek Philippe watch with a calendar that automatically adjusts to leap years that sold for $1.8 million, according to the London-based auctioneer.

The entire sale was estimated to raise 8.9 million francs to 12.8 million francs. A Sotheby’s auction of timepieces in the same Swiss city on May 10 raised 3.75 million francs, missing the low end of the sale’s estimated range by about 50,000 francs.

Christie’s sold a brass telescope given to Napoleon Bonaparte in 1800 as he traveled via Geneva to join a battle in Genoa for 147,000 francs, about triple its top estimate. The auction house also sold a Breguet carriage clock originally made for the Queen of Naples for 723,000 francs, exceeding its high estimate. It will be displayed in the Breguet museum, according to Aurel Bacs, co-head of Christie’s global watch unit.

Estimates don’t include the buyer’s premium, reports Mulier, which for Christie’s were 25 percent of the price for the first 60,000 francs, 20 percent from there to 1.2 million francs, and 12 percent of any amount in excess of that.

If you have a valuable timepiece, don’t forget to check out the San Diego Luxury Pawn Shop Report’s tips for selling a used watch.

Over $6.7m at Auction

National Jeweler reports that Patrizzi and Co.’s April 19 horological auction brought in more than $6.7 million. Three commemorative-edition Patek Philippes earned the top prices.

An 18-karat yellow gold Patek Philippe minute repeater with perpetual calendar and moon phases was the star of the show, selling for about $349,787. The wristwatch was produced in a small series in 1989 to celebrate Patek’s 150th anniversary.

A Patek “Officer’s style” minute repeater chronometer wristwatch, sold for about $332,724. The timepiece was made in 1997 as one of 10 watches in 18-karat yellow gold to commemorate the new company headquarters just outside of Geneva.

Finally, a Patek Philippe minute repeater wristwatch produced in 2004 as one of five to mark the 50th anniversary of George Pragnell Jewellers in London, sold for about $315,718.

Patrizzi and Co. said in a media release that in addition to the enthusiasm for Patek Philippe, bidding was competitive for several Vacheron Constantin and Panerai wristwatches, as well as for a Hublot “Big Bang Tourbillon Solo Bang,” which nearly doubled its estimate.

Also selling well were a Breguet “souscription” watch in 18-karat gold that was originally sold to Prince Ferdinand in 1812; a Louis Audemars No. 12131 circa 1875; and a Patek Philippe and Cie yellow gold keyless “World Time” gentleman’s dress watch with a cloisonne enamel map of North America. The timepieces sold for about $36,142, $77,457 and $79,178, respectively.

Ghandi’s Zenith Pocket Watch Sold at NY Auction

JCK Online reports that Mahatma Gandhi’s pocket watch and personal belongings realized just under $2.1 million as part of the Antiquorum Auctioneers sale of Important Collectors’ Wristwatches, Pocket Watches & Clocks, held March 4 and 5 in New York.

The auction as a whole took in $8.7 million. More than 500 online bidders, in addition to room and telephone bidders, bought modern and vintage watches at 142 percent of their low estimate resulting in 75 percent of all lots sold, the auction said in a statement. Gandhi’s pocket watch, sandals, glasses, bowl, and thali were sold for $2.096 million to what the auction house described as a “prominent Indian businessman who intends is to bring the items back to India for permanent public display.”

“Despite continued global economic concern, we have achieved tremendous results for our first auction of 2009,” said Evan Zimmermann, Antiquorum president and chief executive officer.

“Antiquorum is pleased that the objects attributed to Mahatma Gandhi, one of the greatest spiritual and political leaders of the 20th-century, will be returning to India, added Robert Maron, Antiquorum chairman. “We know that this was the hope of the Indian people, as well as many others around the world.”

The auction also included a watch belonging to both U.S. president John F. Kennedy and Greek shipping magnate, Aristotle Onassis. Known as the Kennedy Onassis watch, it is the only known item connecting JFK, Jacqueline Kennedy, and Aristotle Onassis. It fetched $120,000.

Another watch of great significance in the sale was the Patek Philippe Henry Grave’s platinum minute repeater, which sold for $630,000. The watch belonged to the late Henry Graves Jr. who inspired Patek Philippe to create some of its most complicated watches to date.

In addition, the “Giuseppe Bonanno” 1950’s Patek Philippe watch sold for sold for $36,000. Bonanno was an original member of the “Commission” whose purpose was to establish rule by consensus amongst the New York crime families and is thought to be the inspiration for the character of Vito Corleone in Mario Puzo’s “The Godfather.”

Several other Patek Philippe timepieces achieved excellent results, including: The Ref. 5016 in yellow gold, lot 536, fetched $ 494,000; the “TV Watch” in white gold, Ref. 5020 (lot 526), sold for $180,000; the Ref. 3970 in white gold (lot 525) attained $ 108,000; and the yellow gold “Celestial” wristwatch (lot 120), which sold for $186,000.

An Audemars Piguet watch, the “End of Days,” (lot 435) sold for $ 42,000. A Cartier Art deco desk alarm clock sold for $32,400, three times its’ pre-sale estimate.

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Do you have a mechanical timepiece or used watch that you are looking to sell in San Diego? If so, read this article before approaching a buyer: San Diego Tips: Selling Your Used Watch.

San Diego Tips: Selling Your Used Watch

If you are looking to sell your watch in San Diego, there are a few important things to keep in mind. First, is the watch you are selling vintage or like new? For the watch to be sold as “vintage” it should be more than 40 years old. If the watch is under ten years old, then you should do whatever maintenance is necessary to make it appear as new as possible. For example, if the band is full of scratches you might consider replacing it. And if the watch is battery powered, replace the battery.

You should learn as much as you can about your watch, including the brand, model, design, functions, year of manufacture, and the current market demand for watches of its type. There are plenty of websites that can help you in this learning process. Try also looking up similar watches on e-bay to help gauge the demand for your watch. The greater the demand for your watch, coupled with a short supply, translates to higher prices and more money for you.

Visit or call several San Diego jewelry buyers to get a free quote on your watch. Some places will even provide a quote via email, as long as you provide them with all of the necessary details about your watch. If you go to visit a buyer in their office, do not leave your watch with them, but ask for a quote right away. A reputable buyer will have no problem giving you a quote on your watch during your visit.

Once you have received a range of buying offers for your watch, you can then choose the best one, or try to sell it via an online or offline auction. San Diego has several bricks and mortar auction houses that sell watches, including AAA Auction and Anstead’s auction.

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Interested in reading more about jewelry and watch auctions in San Diego? Try this article: California Auction Stretched Holiday Dollars.

Antiquorum Watch Auction Sees Record Sales

It is not only jewelry auctions that have been exceeding expectations lately as investors continue to move money into hard assets. Antiquorum reports that its first auction of the fall season brought in $9,892,812 from its sale of collectible clocks, pocket watches, and wristwatches.

In total, 404 pieces were sold. 34 percent of the items were bought via Antiquorum’s online bidding system. Buyers logged in bids from countries around the globe, including China, Germany, and Russia.

The highest sales price went to a Patek Philippe “First Series,” which scored a final bid of $1,514,400. But it was a wristwatch formerly owned by Albert Einstein that sparked the auction’s most intense bidding war. When the gavel dropped the Longines watch from the famed physicist was sold for $596,000, more than 2,000 percent its original estimated value (the highest price ever paid for a Longines wristwatch). Rolex also earned a record amount for its “Platinum Day Date” wristwatch which went for $78,000.

You certainly aren’t going to find those kinds of watches at a San Diego pawn shop, but the these auction results should show you that if you are in need of a good sized cash loan from a pawnbroker, a collectable watch is one of your best items to use as collateral.

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Have you been wondering just what estate jewelry is? Then wonder no longer. We’ve detailed it in this article: What is Estate Jewelry?

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