How Popularity and Rarity Affect Rolex Watch Prices
A recent shortage of luxury watches has affected the prices of new and used Rolex watches, but the company insists it simply cannot keep up with demand.
The exclusivity of Rolex watches is nothing new. The Geneva-based manufacture has dominated the luxury watch sector for around a century and the scarcity of supply has only made them more desirable. With recent reports of a shortage of luxury watches, the Swiss company insisted that scarcity is not a deliberate strategy on its part, but that it simply cannot meet demand without compromising on quality. However, the actual availability and production figures of their models remain secret.
In recent times, the demand for Rolex watches has reached new heights. Getting your hands on a new one is harder and more expensive than ever. Parts are sold by the company’s authorized dealers to their exclusive lists of regular customers before they are even released. Getting your name on a waiting list is not an easy task with new places rarely available. It is estimated that more than 1,000,000 are made and sold in a year, a figure well below demand.
Used Rolex Watch Prices
As a result, the second-hand market is also booming. A host of start-ups backed by major investors have emerged offering pre-owned watches from high-end brands, including Rolex. New models are often returned at a profit, and prices on the secondary market continue to rise. The surge in global wealth driven by cryptocurrency investors and multi-millionaire social media influencers has created a new generation of collectors.
Rolex Private Collections
The search for exclusivity and authenticity has led many buyers to buy directly from private collections. This personal touch adds extra provenance and gives the buyer added confidence that the watch has been in good hands. A Rolex in mint condition with a box and papers from a private collector can be just as desirable as a new model. The fact that they are instantly available and often go up in price makes them a solid investment as well as a superb timekeeping gem.
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