How to Buy a Rolex Safely
A watch sold with papers including its original warranty is very likely to be genuine. It is harder to forge the warranty papers that the watch! They have special threads in the paper warranty and laser marks on the warranty card. Papers means warranty card/paperwork. Once you are ready to shop for a watch there are two commonly used sources that are safe:
First, do your Research:
Type in the watch (ideally the reference number) you are interested + “review” into Google and you’ll spend hours watching videos and reading excellent reviews on well established watch sales websites. If you register on Chrono24 you’ll see addition information like a chart of the re-sale value of the watch you are looking at, it will look like this:
Check if it has been stolen:
When you find a watch and are ready to make a move on it, get the serial number and Reference number for it from the seller and check if it was stolen. The most common place to check if a Rolex has been stolen is on The Watch Register. It is free to report a stolen watch, but they charge a fee ($13) per search of their database, bulk searches are discounted. Mystolenwatch.com is similar and cost 5 euros per search. Obviously, it is worth it to spend the money before buying an expensive watch.
Avoid Buying a Foreign Watch:
I’ve spent hours trying to understand the arcane system of duties charged on any watch import. It is interesting that despite listing thousands of foreign watches, neither Chrono24 or eBay has any information on their site about import duties; they can’t figure it out either. You pay duty based on different amounts based on the value of the case, movement and bracelet. Weirdly, the watch band can be the most expensive thing with the highest charge if it is alligator skin or exotic.
I bought one watch through Chrono24 from Iran – they were a huge importer of Seikos in the past, and now given their economic problems often want to sell them for cash. No duties were applied, but only because the seller shipped it marked as something less valuable. Most shippers like stores in Japan will refuse to do this, and your insurance can be compromised. Of course, how do you insure something with confidence when you buy it from Italy, Germany, or somewhere else. Sellers often have good reputations on eBay and Chrono24 but there is just too much hassle to do this, at least early in your watch buying/collecting career which will be stressful enough as you gain your footing!
Where to Buy:
1. Chrono24 is the largest seller of watches, and their website matches buyers to sellers. Many jewelry stores list on this site and 6% of a sale goes to commission with Chrono24. Register for an account so you can save interesting watches and see things like the chart of a watches value over a ten year span of time. Chrono24 will escrow your payment and offer a 14 day money back guarantee. Of course, then you need to find an authenticator and the closest Rolex dealer is in Boston. I find it useful to shop for prices on this site. You must pay sales tax if you buy on the site and they collect it automatically; in Mass. that is an extra 6.25%, even if you buy the watch from a store in another state. Since Chrono24 is considered present in every state as an internet company, they must collect the tax.
2. eBay offers escrow and, in addition, when you buy a watch it can go to an authenticator who theoretically open is up and certifies is is real, and then sends it to you for approval before you buy. To search this site and CHrono24 you need to know the model Rolex you are interested in, as there are a great many for sale. With the authenticator and a changing fee structure that goes up as the watch’s value increases, at least 6% of the a sale will to commission costs. You must pay sales tax if you buy on the site and they collect it automatically; in Mass. that is an extra 6.25%.
3. This is interesting – WatchCollecting.com is a new, fast growing auction site with heavy investment that is based in England and is fast growing. They are unique in that there are no charges or fees to the seller, as the buyer pays a 6% fee or $500, which ever is more. Value Added Tax is added. One good thing is the company helps you with the duty calculation, I think.
4. The RolexForum at RolexForums.com has a classified section. In addition to warnings issued about problems dealers and individual sellers, you can list and buy Rolexes on their Classified bulletin board. It is an ideal way to find someone selling a Rolex nearby, with whom you can meet in a safe spot (police stations are offering their parking lots for just such purposes) and see in person a watch. You should sign up as a member, and only deal with members who have been registered on the site for some time, and have many posts. Read the warning page. Another fun forum is by WatchYouSeek.com which has a Rolex/Tudor forum and you’ll find watches for sale there, too.
You can shop for watches on the above first two sites, and then contact the seller directly if it is a known brick and mortar store with many positive ratings. It is scary to wire a stranger $20,000 and hope the watch arrives and that is is genuine, but if you know who you are dealing with and get the papers with the watch it is generally safe. I would not advise this for you to start out with. But saving 12% in fees and taxes from a direct purchase from a store is attractive. I have done this after researching the store. There are good reviews on Trustpilot.com of many fine jewelry stores. An advantage is that if the jewelry store is not in your state, you won’t be charged for sales tax.
An Example
Doing general searches for a watch on the internet (sometimes you can beat prices from eBay and Chrono24) I kept coming upon Jaztime.com which has terrific photographs, huge inventory on-line, and almost always the lowest price. I wasn’t put off by their instructions to be ready to buy, have money ready before you contact them to discuss a watch. I checked Trustpilot who gave them a Trustscore of 3.0/5 and 48 reviews – 67% of which were for 1-star!
Many, many people described “bait and switch” tactics where when they called they were told the watch would cost much more then the advertised price. The owner “roasted” anyone complaining of this, often using vile language. At first I was horrified, but as I read on it started to became entertaining and at least one guy, Anton, never even bought a watch but gave Jaztime 5 stars anyway, on 03/02/21 because:
I rated this 5 star for the amount of jokes I have had reading all of Jaztimes replies to the bad experiences from people telling People to stay away & how dreadful Jaztime is. I’m so happy I read all the reviews before daring to purchase a watch from this devilish site. P.S I’m waiting for your reply grabs the popcorn.
Even better was Jaztime’s reply:
Anton "Knows" whats best for him, leave a 5 star review or get roasted in public. Well done my son. I grant you the opportunity to buy a watch from the leading online watch retailer, www.jaztime.com You have arrived.
When I called to buy a watch, they gave me a song and dance about checking to see if it was in stock, and wanting to know if I’d be willing to pay at least $1000 more then the price listed if they found it, etc. I felt it was a clear bait&switch, yet many others did successfully buy a watch from them, according to the reviews unless they were contrived. I think if you are looking for a Rolex sports watch that is popular, the bait&switch more likely to occur then if you are looking for a woman’s all stainless steel Date-Just.
The important take-away from this example, is no one complained about not getting the watch they ordered, or losing their money, etc. This is typically the experience you will have with brick and mortar stores as well as well established internet companies like BobsWatches (Trustscore of 4.5/5 from 148 reviews). There are some with poor reviews like Crown & Caliber (Trustscore of 1.6/5 out of 28 reviews) or the Watchbox with 2.8/5 from 25 reviews – but, again no one is complaining of receiving a counterfeit Rolex or losing their money. Google has ratings for retailers as well. So, do your homework. I find rating scores for retailers on their eBay auction items, and on Chrono24.
First, do your Research:
Type in the watch (ideally the reference number) you are interested + “review” into Google and you’ll spend hours watching videos and reading excellent reviews on well established watch sales websites. If you register on Chrono24 you’ll see addition information like a chart of the re-sale value of the watch you are looking at, it will look like this:
Check if it has been stolen:
When you find a watch and are ready to make a move on it, get the serial number and Reference number for it from the seller and check if it was stolen. The most common place to check if a Rolex has been stolen is on The Watch Register. It is free to report a stolen watch, but they charge a fee ($13) per search of their database, bulk searches are discounted. Mystolenwatch.com is similar and cost 5 euros per search. Obviously, it is worth it to spend the money before buying an expensive watch.
Avoid Buying a Foreign Watch:
I’ve spent hours trying to understand the arcane system of duties charged on any watch import. It is interesting that despite listing thousands of foreign watches, neither Chrono24 or eBay has any information on their site about import duties; they can’t figure it out either. You pay duty based on different amounts based on the value of the case, movement and bracelet. Weirdly, the watch band can be the most expensive thing with the highest charge if it is alligator skin or exotic.
I bought one watch through Chrono24 from Iran – they were a huge importer of Seikos in the past, and now given their economic problems often want to sell them for cash. No duties were applied, but only because the seller shipped it marked as something less valuable. Most shippers like stores in Japan will refuse to do this, and your insurance can be compromised. Of course, how do you insure something with confidence when you buy it from Italy, Germany, or somewhere else. Sellers often have good reputations on eBay and Chrono24 but there is just too much hassle to do this, at least early in your watch buying/collecting career which will be stressful enough as you gain your footing!
Where to Buy:
1. Chrono24 is the largest seller of watches, and their website matches buyers to sellers. Many jewelry stores list on this site and 6% of a sale goes to commission with Chrono24. Register for an account so you can save interesting watches and see things like the chart of a watches value over a ten year span of time. Chrono24 will escrow your payment and offer a 14 day money back guarantee. Of course, then you need to find an authenticator and the closest Rolex dealer is in Boston. I find it useful to shop for prices on this site. You must pay sales tax if you buy on the site and they collect it automatically; in Mass. that is an extra 6.25%, even if you buy the watch from a store in another state. Since Chrono24 is considered present in every state as an internet company, they must collect the tax.
2. eBay offers escrow and, in addition, when you buy a watch it can go to an authenticator who theoretically open is up and certifies is is real, and then sends it to you for approval before you buy. To search this site and CHrono24 you need to know the model Rolex you are interested in, as there are a great many for sale. With the authenticator and a changing fee structure that goes up as the watch’s value increases, at least 6% of the a sale will to commission costs. You must pay sales tax if you buy on the site and they collect it automatically; in Mass. that is an extra 6.25%.
3. This is interesting – WatchCollecting.com is a new, fast growing auction site with heavy investment that is based in England and is fast growing. They are unique in that there are no charges or fees to the seller, as the buyer pays a 6% fee or $500, which ever is more. Value Added Tax is added. One good thing is the company helps you with the duty calculation, I think.
4. The RolexForum at RolexForums.com has a classified section. In addition to warnings issued about problems dealers and individual sellers, you can list and buy Rolexes on their Classified bulletin board. It is an ideal way to find someone selling a Rolex nearby, with whom you can meet in a safe spot (police stations are offering their parking lots for just such purposes) and see in person a watch. You should sign up as a member, and only deal with members who have been registered on the site for some time, and have many posts. Read the warning page. Another fun forum is by WatchYouSeek.com which has a Rolex/Tudor forum and you’ll find watches for sale there, too.
You can shop for watches on the above first two sites, and then contact the seller directly if it is a known brick and mortar store with many positive ratings. It is scary to wire a stranger $20,000 and hope the watch arrives and that is is genuine, but if you know who you are dealing with and get the papers with the watch it is generally safe. I would not advise this for you to start out with. But saving 12% in fees and taxes from a direct purchase from a store is attractive. I have done this after researching the store. There are good reviews on Trustpilot.com of many fine jewelry stores. An advantage is that if the jewelry store is not in your state, you won’t be charged for sales tax.
An Example
Doing general searches for a watch on the internet (sometimes you can beat prices from eBay and Chrono24) I kept coming upon Jaztime.com which has terrific photographs, huge inventory on-line, and almost always the lowest price. I wasn’t put off by their instructions to be ready to buy, have money ready before you contact them to discuss a watch. I checked Trustpilot who gave them a Trustscore of 3.0/5 and 48 reviews – 67% of which were for 1-star!
Many, many people described “bait and switch” tactics where when they called they were told the watch would cost much more then the advertised price. The owner “roasted” anyone complaining of this, often using vile language. At first I was horrified, but as I read on it started to became entertaining and at least one guy, Anton, never even bought a watch but gave Jaztime 5 stars anyway, on 03/02/21 because:
I rated this 5 star for the amount of jokes I have had reading all of Jaztimes replies to the bad experiences from people telling People to stay away & how dreadful Jaztime is. I’m so happy I read all the reviews before daring to purchase a watch from this devilish site. P.S I’m waiting for your reply grabs the popcorn.
Even better was Jaztime’s reply:
Anton "Knows" whats best for him, leave a 5 star review or get roasted in public. Well done my son. I grant you the opportunity to buy a watch from the leading online watch retailer, www.jaztime.com You have arrived.
When I called to buy a watch, they gave me a song and dance about checking to see if it was in stock, and wanting to know if I’d be willing to pay at least $1000 more then the price listed if they found it, etc. I felt it was a clear bait&switch, yet many others did successfully buy a watch from them, according to the reviews unless they were contrived. I think if you are looking for a Rolex sports watch that is popular, the bait&switch more likely to occur then if you are looking for a woman’s all stainless steel Date-Just.
The important take-away from this example, is no one complained about not getting the watch they ordered, or losing their money, etc. This is typically the experience you will have with brick and mortar stores as well as well established internet companies like BobsWatches (Trustscore of 4.5/5 from 148 reviews). There are some with poor reviews like Crown & Caliber (Trustscore of 1.6/5 out of 28 reviews) or the Watchbox with 2.8/5 from 25 reviews – but, again no one is complaining of receiving a counterfeit Rolex or losing their money. Google has ratings for retailers as well. So, do your homework. I find rating scores for retailers on their eBay auction items, and on Chrono24.
The charted data above comes from Analytics via watchcharts.com where you can research any specific watch for free.
