The Laings Journal
In recent years we have seen luxury watch brands become a premium investment item, Pre-Owned Rolexes in particular have soared in popularity – but why is this? In this article we quiz our very own Laings Pre-Owned watch expert Grant Smith on his wealth of knowledge and explore the facts and myths of the Pre-Owned watch market, how to differentiate the genuine from the impostor and what benefits you can enjoy by investing in a Pre-Owned watch.
HOW TO SPOT THE FAKES – There is a preconception that a genuine Rolex will be detectable by the “sweeping second hand” powered by the automatic movement, however the counterfeiters have become so advanced that this motion can now be replicated – albeit not to genuine Rolex standard but very similar at first glance. The only sure-fire way to know you are purchasing a genuine Pre-Owned Rolex is to go to an authorised Rolex dealer where you can have the watch vetted by a qualified Rolex technician or expert.
AFFORDABLE LUXURY – The iconic nature of Rolex is such that it is not just a watch but a status symbol, an investment and a high performance luxury item. The Rolex crown is a symbol of quality, prestige, success and exclusivity and to own such an item is an instant confidence boost. However if the brand new version is just out of reach financially then consider a Pre-Owned model so you can experience the same excellent quality, flawless design and timeless appeal of an authentic Rolex.
FINANCIAL BENEFITS – Pre-Owned watches are usually more affordable than brand new models so by choosing a well looked after version of the model you desire you can make an excellent saving; thereafter some models will even increase in value due to price increases on new models, rarity and desirability. A prime example of this is the 1944 Patek Philippe wristwatch that sold at auction for $5.6million in 2010.
TRADE IN – If you already have a luxury watch and have come to a point where you want to upgrade, you can trade in what you have for the latest Pre-Owned model to catch your eye – since many Swiss watches retain a healthy value you could potentially have very little or even no difference to pay.
THE HOLY GRAIL - The chances of sourcing a discontinued Rolex that is no longer in production is extremely slim – which means exploring what is available in the Pre-Owned selection will greatly increase the likelihood of sourcing the elusive model that you seek.
PROTECT YOUR INVESTMENT – A genuine Rolex has the capacity to last over 100 years provided that it is properly maintained – frequent servicing and allowing the mechanism to move on a regular basis are highly important. Servicing will ensure that the mechanics remain well-oiled and maintained, there are even special boxes available in which to store a timepiece that will allow the inner-workings to keep ticking therefore helping prolong the life of what could potentially be your family heirloom.
THE LAINGS of GLASGOW PRE-OWNED SELECTION – The Pre-owned watch selection available here at Laings is extensive and stacked full of treasures – you will find other Pre-Owned watch stockists across the UK with a Pre-Owned Rolex selection even though they are not themselves an authorised Rolex dealer. We at Laings are proud to be one of only two authorised retailers in Glasgow which means that we have qualified and highly-trained trained Rolex experts in store and an in-house watch maker who specialises in servicing not only Rolex watches, but Patek Philippe, Jaeger LeColutre, Panerai, IWC and many more. Every Laings Pre-owned watch comes fully serviced and reconditioned with 6 month warranty – the majority of watches also have the original box and papers.
