Modern Pre-Owned Rolex With Govberg's Josh Srolovitz & Tim Mosso

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Read the transcription below!

Tim Mosso:
Hi, I’m Tim Mosso, watch specialist, Govberg Jewelers.

Josh Srolovitz:
I’m Josh Srolovitz, senior watch buyer from Govberg Jewelers.

Tim Mosso:
Now, today, we’re here to talk to you about pre-owned luxury watches, but specifically the modern phenomenon of the pre-owned luxury watch market as it relates to Rolex. Now, undoubtedly, Josh, Rolex is a brand that transcends the watch industry. It’s a household name.

Could we talk a little bit, maybe, about how, yes, every new watch is going to take a depreciation hit, but Rolex is going to stabilize sooner, act as a better store value and ultimately be a better long-term investment, if you are to invest in watches, than perhaps any other brand in pre-owned?

Josh Srolovitz:
Absolutely. Since the beginning of its tenure, Rolex has been producing iconic watches which have changed very minimally over the decades and in production. Because of this, you have certain pieces which are just foundations of the watch-making world and include advancements in horology which are unrivaled by any other manufacturer.

When purchasing a new watch, undoubtedly you will lose some value, some brands more than others. Rolex is special in that even when purchased new, the amount of depreciation is minimal. Because of this, when you buy one pre-owned at a lower price, you're really investing in a staple piece that will treat you well down the line and give you something to enjoy.

Tim Mosso:
Yeah. The nice thing about Rolex is I find that if you are buying pre-owned, you're going to get good value up front because, again, the depreciation hit is taken. Unlike, for instance, a European vacation, purebred dogs, a night out of dinner all year, the thing is when you invest in a Rolex, it never depreciates to nothing, so you have a store value, but even beyond that, if you ever wanted to sell, there’s a constant market for Rolex watches. It’s not a specialist piece. Someone is always willing to buy a Rolex.

Josh Srolovitz:
Absolutely. These pieces are watches, of course, but a watch like a Submariner or Daytona serve as more as a commodity than anything else, something that’s recognizable around the world and has a set value, a value that people are willing to pay no matter what the age of the watch.

Tim Mosso:
I think it’s also important to note that although Rolex, for the most part, is known for making sports watches, and every model that we have here in front of us is technically a sports watch, just about every watch here can be worn with any kind of attire. That’s the versatility of Rolex.

Josh Srolovitz:
That’s the beauty of the brand. If you look back, Sean Connery wearing a tuxedo as James Bond with a submariner on his wrist, it doesn't get any cooler than that. That’s still something you can do today and not lose any sense of style or recognition.

Tim Mosso:
Yeah. The Rolex model line, whether it’s a dive watch or not, for the most part, the Rolex sports watches are water resistant to at least 100 meters. In a very real sense, because of the versatility of the Rolex look across model lines, they can go with a bathing suit or a business suit and anything in between.

Josh Srolovitz:
Absolutely. Being that there’s only minor changes of these watches for each model line over the years, there is a really strong lack of obsolescence, which serves to keep an allure and a cult appreciation for these pieces which I don’t see ever going away.

Tim Mosso:
That’s one of the things that really strikes me about Rolex compared to other brands. There are some watch brands that are so self-conscious about restyling every two to three model years that you can literally say, “Oh, that’s generation one, that’s generation two, that’s generation three,” from across the room.

With Rolex, let’s just use these Rolex Submariners as an example, just jumping to our macro camera, this is why planned obsolescence and Rolex never belong in the same sentence. The 5508 is of the Sean Connery James Bond era. Two watches built about 25 years apart, and these two timepieces are both instantly recognizable as a Rolex Submariner.

Josh Srolovitz:
The cool part about collecting Rolex is that, when you get down to the real nitty-gritty of these pieces, it’s all about little nuances and characteristics. That’s what makes collectors thirsty and sets them to hunt to find a really special piece to them that is important. It’s the beauty of the nature of collecting Rolex.