sales@watchtime.com.au
22 Russell Place, Melbourne 3000
The safest way to buy a pre-owned Rolex is to buy from a dealer you can visit, see the watch before you pay, check that its numbers match its papers, and pay by bank transfer to a business account you have confirmed yourself. The rest of this guide explains each step, and what we look for at Watchtime before a watch goes on sale.
We have bought and sold pre-owned Rolex from 22 Russell Place in the Melbourne CBD for over 35 years, with more than 8,000 through our hands. Most problems we see from private sales come down to one of the four checks below being skipped.
1. Check the seller before you check the watch
A genuine watch from the wrong seller is still a risk. Before you look at the watch, look at who is selling it.
- A real address. A showroom you can walk into, not a PO box or “by appointment, location on request”.
- A phone number that gets answered. Call it. A business that has been trading for years will pick up during opening hours.
- A history you can verify. Google reviews over several years, an ABN that matches the business name, and a website that has been around longer than the listing.
- Clear terms in writing. Warranty, returns, delivery and payment should be published before you buy, not explained after.
If you’re buying privately, ask to meet somewhere you can verify the watch together, such as a dealer or watchmaker. A genuine seller won’t mind.
2. Check the watch
You don’t need to be a watchmaker to catch most problems. These checks take a few minutes with the watch in your hand.
The numbers match. Every modern Rolex has a reference number (the model) and a serial number (that individual watch). On recent models the serial is engraved on the inner ring of the dial at 6 o’clock. On older ones it sits between the lugs at 6 o’clock, under the bracelet. The reference and serial on the watch should match the papers exactly.
The details are crisp. Printing on the dial should be sharp under magnification, with no smudging or uneven spacing. On models with a date, the magnifier over the date should make it fill most of the window. A small or blurry date is a warning sign.
It runs and sets properly. The crown should screw down smoothly, the hands should set without catching, and on a date model the date should change cleanly around midnight.
The parts belong together. A watch can be genuine and still have a replacement dial, bezel or bracelet. That isn’t always a problem, but it changes the value, and the seller should tell you. Ask directly: “Is everything on this watch original to it?”
At Watchtime, every watch is examined by our watchmaker before it goes on sale: case, dial, hands, bracelet and movement. We confirm the parts are original, check the serial and reference against the model and any papers, and make sure it runs as it should. If a watch doesn’t pass, we don’t sell it.
3. Check the papers and history
“Box and papers” means the watch comes with its original box and the warranty card or certificate issued when it was first sold. A full set usually adds to the value and makes the watch easier to sell later. It also helps prove where the watch came from.
What to look for:
- The card matches the watch. The serial and reference on the warranty card should match the engraving on the watch.
- The date makes sense. The purchase date on the card should fit the model’s production years.
- Service history. Receipts from a Rolex service centre or a watchmaker tell you when the movement was last looked at, and what was replaced.
- Remaining warranty. A recent watch may still carry part of Rolex’s own warranty. Check the date on the card.
Papers can be faked too, so treat them as one check among several, not proof on their own. A watch without papers isn’t automatically a bad buy, but it should be priced accordingly and bought from someone who will stand behind it.
4. Pay safely
Most losses in private sales happen at the payment step, not because of a fake watch.
- Pay a business account in the seller’s name. Not a personal account, and never a crypto wallet or gift cards.
- Confirm bank details by phone, on a number you found yourself. Scammers send fake invoices with their own account details. A two-minute call stops this.
- Be wary of pressure. “Another buyer is ready to pay today” is the most common line in watch scams.
- If the price is far below market, ask why. There is almost always a reason.
At Watchtime, the prices on our website are for payment by bank transfer. We also take Visa, Mastercard, American Express and debit cards in store, and offer layby to Australian buyers with a 50% deposit and the balance within 30 days. All prices are in Australian dollars and include GST.
What should a pre-owned Rolex cost?
Most pre-owned Rolex currently sell below the price of the same model new. Only one to three years ago, around half the used Rolex we sold went for more than retail. Today about 95% sell below it. Popular steel sports models, such as the Submariner and GMT-Master II, still hold their value best.
The things that move the price of a particular watch:
- Condition. Unpolished cases with sharp edges are worth more than heavily polished ones.
- Box and papers. A full set adds value.
- Age and service history. A recent service is worth paying a little more for.
- Originality. Original dial, hands and bezel matter, especially on older watches.
If you want a feel for prices, our New In Stock page shows what we have now, and sold listings stay on our site so you can see what similar watches went for.
What you get when you buy from Watchtime
- Every watch examined by our watchmaker before sale.
- A 1-year store warranty on pre-owned watches, plus the balance of any manufacturer’s warranty where the listing says so. Water damage and rough handling aren’t covered.
- Every watch on our website is in our showroom at 22 Russell Place, unless it’s marked “Coming Soon”. You’re welcome to see it before you buy.
- Insured delivery anywhere in Australia, or collection from the showroom. We quote the exact cost when you buy.
We don’t offer refunds for change of mind, which is exactly why we’d rather you see the watch first, ask every question you have and take your time.
Watchtime is an independent dealer in pre-owned watches and is not affiliated with Rolex SA. Rolex and its model names are trademarks of Rolex SA.
Questions about a watch? Call (03) 9650 3936, email sales@watchtime.com.au, or visit us at 22 Russell Place, Melbourne. Browse our pre-owned Rolex, or read our FAQ for warranty, delivery and payment details.