whats the spread on a used Rolex GMT 2
Discussion
I have a 1998 GMT 2 (black/red Bezel)
Bought by me in the states (and stung for taxes at the time..) 16 years ago and worn pretty much every day since (other than for the past 2 years when it has sat on my desk, except for the odd occasion), still have boxes, tags, books etc
They are advertised by specialists (same year, model etc) for just over £4K ...what would the buy price from these dealers likely to be ??
I expect it to be significantly less , as they need to warrant, polish and make a profit, but not sure how much....is it £500 or £1k less
I want to be armed with some knowledge before I give them a call....
cheers
Bought by me in the states (and stung for taxes at the time..) 16 years ago and worn pretty much every day since (other than for the past 2 years when it has sat on my desk, except for the odd occasion), still have boxes, tags, books etc
They are advertised by specialists (same year, model etc) for just over £4K ...what would the buy price from these dealers likely to be ??
I expect it to be significantly less , as they need to warrant, polish and make a profit, but not sure how much....is it £500 or £1k less
I want to be armed with some knowledge before I give them a call....
cheers
Condition is very good, loads of fine marks from a decade and half of wearing, last serviced 10 years ago (inc boxes, books, tags etc)
ooh £2k to £2.5k...even at the top end of that valuation I think it will stay on my desk, I was hoping for dealers to be working on a 50% mark up...so giving me £3k
ooh £2k to £2.5k...even at the top end of that valuation I think it will stay on my desk, I was hoping for dealers to be working on a 50% mark up...so giving me £3k
Wilmslowboy said:
I have a 1998 GMT 2 (black/red Bezel)
Bought by me in the states (and stung for taxes at the time..) 16 years ago and worn pretty much every day since (other than for the past 2 years when it has sat on my desk, except for the odd occasion), still have boxes, tags, books etc
They are advertised by specialists (same year, model etc) for just over £4K ...what would the buy price from these dealers likely to be ??
I expect it to be significantly less , as they need to warrant, polish and make a profit, but not sure how much....is it £500 or £1k less
I want to be armed with some knowledge before I give them a call....
cheers
dealers need £800 in a £4000 watch Bought by me in the states (and stung for taxes at the time..) 16 years ago and worn pretty much every day since (other than for the past 2 years when it has sat on my desk, except for the odd occasion), still have boxes, tags, books etc
They are advertised by specialists (same year, model etc) for just over £4K ...what would the buy price from these dealers likely to be ??
I expect it to be significantly less , as they need to warrant, polish and make a profit, but not sure how much....is it £500 or £1k less
I want to be armed with some knowledge before I give them a call....
cheers
If my experiences of walletfinder are anything to go by, they will offer you £1000 and expect you to be grateful.
Sell privately - rolexforum, watchuseek, etc or ebay with collection only (use ebay effectively like a classifieds and avoid their high fees) - there are plenty of options that don't mean getting your pants pulled down.
An unpolished all original full set will have no issue selling at a sensible price.
Sell privately - rolexforum, watchuseek, etc or ebay with collection only (use ebay effectively like a classifieds and avoid their high fees) - there are plenty of options that don't mean getting your pants pulled down.
An unpolished all original full set will have no issue selling at a sensible price.
Wilmslowboy said:
A lot of talk about polishing...
I have a sneaky feeling it was polished (or at least the strap was) when it was last serviced - 10 years ago
Is this a bad thing ???
Also the red part of the bezel has faded over the years....
Bracelet polishing is not normally that big an issue, case polishing on the other hand can really take the definition away from the case edges and have a seriously detrimental effect on value.I have a sneaky feeling it was polished (or at least the strap was) when it was last serviced - 10 years ago
Is this a bad thing ???
Also the red part of the bezel has faded over the years....
KungFuPanda said:
That's a pretty fair price.
It all depends on what you're going to do with the cash? Are you going to use it for something urgent or buy another watch? Do you have any children that would appreciate having a watch passed to them?
Not decided if I am going to sell, if I do I will do the right thing It all depends on what you're going to do with the cash? Are you going to use it for something urgent or buy another watch? Do you have any children that would appreciate having a watch passed to them?
It will go to top up the 12c/gallardo fund
Hello
You have a great watch there..one of my favourite from the Rolex sports range.
I have bought and sold three GMT 2 watches through the business in the last 6 months. They are very much in vogue due to the launch of the new model Pepsi in white gold.
I would say that most fair traders will bid north of £3000 for a GMT 2. As you said it will need a service and polish at a cost of around £350 and then would retail for around the £4500 mark.
Personally while I like the understated Coke look the Pepsi dial is a much better seller so I spend another £70 and buy a new genuine bezel insert.
My recommendation is to get it serviced and polished and looking it's best. It will come with a minimum 12 month warranty by a non AD servicing agent or 24 months if done by Rolex. The new buyer then has nothing to worry about as it has fresh evidence of being serviced and a genuine watch. You may however once you see it just decide to put it back in your drawer!
Pistonheads classifieds, The Ultimate Rolex forum or perhaps on a sale or return with a dealer would give you the best return.
You have a great watch there..one of my favourite from the Rolex sports range.
I have bought and sold three GMT 2 watches through the business in the last 6 months. They are very much in vogue due to the launch of the new model Pepsi in white gold.
I would say that most fair traders will bid north of £3000 for a GMT 2. As you said it will need a service and polish at a cost of around £350 and then would retail for around the £4500 mark.
Personally while I like the understated Coke look the Pepsi dial is a much better seller so I spend another £70 and buy a new genuine bezel insert.
My recommendation is to get it serviced and polished and looking it's best. It will come with a minimum 12 month warranty by a non AD servicing agent or 24 months if done by Rolex. The new buyer then has nothing to worry about as it has fresh evidence of being serviced and a genuine watch. You may however once you see it just decide to put it back in your drawer!
Pistonheads classifieds, The Ultimate Rolex forum or perhaps on a sale or return with a dealer would give you the best return.
If you don't need the cash keep it the GMT is a classic watch - interesting history here
http://rolexblog.blogspot.co.uk/2011/02/rolex-supe...
http://rolexblog.blogspot.co.uk/2011/02/rolex-supe...
More interesting history here
http://rolexblog.blogspot.co.uk/2011/02/rolex-supe...
Mine has not been off my wrist since I bought it recently - and I love the Pepsi bezel
http://rolexblog.blogspot.co.uk/2011/02/rolex-supe...
Mine has not been off my wrist since I bought it recently - and I love the Pepsi bezel
This model GMT is ref 16710 was made from 1998 - 2008. There are various 'variations' within that long period that are potentially worth more to some rolex collectors. Solid End Links (SEL) and holes in the case is a desirable combo - around 2000-2003 ish. "Swiss" only dial relatively rare, 1998-99 ish I think. Later ones 2004 onward holding value well vs modern ceramics.
Yours is none of those, so unremarkable in one sense but honest and full set one owner is great to see.
Personally I'd keep it and pass it on as an heirloom to someone in your family at the right time if you can.
If you want to sell I wouldn't get it polished. Let the next owner / dealer decide if they want to do that. Full set unpolished with honest wear will sell - I'd guess about £3500 private. TZ UK if you are registered long enough (250 posts min to sell).
Yours is none of those, so unremarkable in one sense but honest and full set one owner is great to see.
Personally I'd keep it and pass it on as an heirloom to someone in your family at the right time if you can.
If you want to sell I wouldn't get it polished. Let the next owner / dealer decide if they want to do that. Full set unpolished with honest wear will sell - I'd guess about £3500 private. TZ UK if you are registered long enough (250 posts min to sell).
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