Reply With Quoteiconicwatches.co.uk are good for Rolex, I bought a GMT master from them. Lots more members here have used the also, if you use the search function you will see they have a good reputation here.
Hello
I am new to this site. My name is Gareth and I have been a watch collector for many years. I have a number of watches costing from £100 to my most expensive at £500. However I now have my sights set on a used Rolex. I currently live in London so I am aware of a number of shops to buy from, but as you would expect in London, the prices seem to be high.
I do like the more retro Rolex watches. The one that has caught my eye is the Rolex 16013 Oyster Perpetual Datejust . Its the two tone stainless steel and 18k gold model. I was born in 1980 so I would love to buy a watch made that year. This is not my usual style of watch but I just think its a very classy and elegant watch.
In a nutshell I am looking for advice on where I may find a good price. The obvious choice (but in my mind the most risky) would seem to be an internet purchase from abroad, most likely via eBay. Has anyone ever bought a Rolex from eBay before and if so how did that go. At the moment I am looking at one on eBay, the watch is in South Korea. The watch is a nice price. The seller has posted many pics, including the serial number. I ran some basic checks on the serial number via a website which said the watch was produced in 1977 and was a two tone watch, this information matches with what the seller has posted. The one issue is the watch does not have papers or its original box. It does seem to have a certificate of authenticity from a Rolex specialist in Korea but I have no idea whether this is trustworthy. The seller only sells high end watches and has 100% feedback so would in theory seems honest.
I would really appreciate any advice on purchasing a Rolex via the internet. Also what things to look out for and what checks. I have seen many websites advising on how to spot a fake but to do this you need the watch in your hand, which will not happen until I purchase it, which of course may be too late.
Also if anyone knows of any places in London or the whole of the UK where used Rolex watches are auctioned I would love to hear about it. Any info on specialized watch or jewellery auctions would be much appreciated. I have of course carried out research online but I have not found anything that appealed to me. Besides call me old fashioned but I would always trust word of mouth more than something I read on a random site.
Many thanks
Gareth
iconicwatches.co.uk are good for Rolex, I bought a GMT master from them. Lots more members here have used the also, if you use the search function you will see they have a good reputation here.
Hmmmm, not a promising start.Originally Posted by Gareth
There are a few auction houses in the UK, however my personal experience is that once you have included fees and what not the prices are never that conducive.
There are Bonhams and Sothebys but don't expect to find few cheap watches at either. I have heard ok things about Watches of Knightsbridge.
There is a decent used dealer in the Grays Antiques market although the prices are anything exciting. Avoid the Vintage Watch Company, stupid prices.
I would be personally careful about eBay.....it is so easy steal photos from a watch forum and post a fake listing using the stolen photos. Can't hurt to look on this forum's sales corner and buy from someone known to the group.
Some ebay sellers are as good as anywhere else. Im currently selling a rolex on ebay and im very trustworthy if I do say so myself.
Just contact them, maybe do f2f deal. Buy the seller.
Well I personally would rather look on chrono24 than ebay especially if you are new on ebay.
Also you cannot know when the watch has no papers whether it is for EU market or US market and if VAT/duty was paid.
Buying from abroad is complicated due to import duties. This is hard to estimate, but one thing is for sure YOU WILL be hit with it. Unless you find a way to get around it, whatever savings you make will be negated with the import duty you will have to pay. Typically they will not even deliver your watch until it is paid.
So watch out for that!
There are no import duties for buying individual watches, but you may get hit with a VAT bill (and potentially an administration fee from the courier for handling that VAT payment). Importing from some countries is far more lilely to incur the VAT charge than from others (i.e. don't buy from USA as you'll almost certainly get hit with the VAT payment).
I think (and people can correct me if i'm wrong) it's best to budget an extra 25% of the cost of the watch to handle any VAT payment and admin charges. That could be quite a lot on a Rolex.
yeah sorry I think I got the vat and import duty thing mixed up
Try Alex Pig in Hong Kong, google for his site or check his selection on Chrono24. Good selection of vintage Rolex. Ask him for import/VAT costs.
Aside from scams or fakes, I'd worry about the watch being a frankenwatch or badly serviced.
Exactly, that's why I recommend Alex.
Unless you buy from within the EU, in which case no additional charges apply.
Quite alot of watches on Chrono24 that are within the EU, good prices in Greece and Italy at the moment. I'm looking at Rolex at Italian and Greek shops at the moment.
It's still a worry, but buying the seller is always good advice. Using a credit card or paypal will give protection (although the latter will add to the cost). Once you've id'd a seller, it's worth checking on here/ elsewhere if anyone else has had a good or bad experience.
HTH,
Alex.
My advice is stick to the EU unless it's an exotic Grand Seiko or something not available here.
Even then maximum care needed, ask questions, look at past threads here, post here
asking for opinions, don't be afraid to ask for more pictures in high resolution etc etc.
That said sometimes there is no other option - as said by others you will be charged VAT and
other "charges" - I add 30%....which usually puts me off, and here as in the UK it can be a real hassle
paying the customs charges and getting your item.
Good luck!
Thanks everyone for all your replies. I really do appreciate that. Some good advice in there and some great leads.
Thanks for the suggestion of using Chrono24, this looks very promising indeed.
Have you yourself used this site, or is it a site that is well trusted on this forum?
Cheers
Gareth my friend you really are the newbie :-)
Chrono24 is the first site you should always visit if trying to get some watch for a good price, lot of watches there from loads of sellers.
I personally only compare prices on chrono24 with other sellers on forums. Then for us sellers there are other sources to get the watches at very low prices such as discounts, relations with grey dealers, auctions etc.
But to tell you truth if buying for the first time stick with EU based sellers so you avoid any possible problems that are out there across the pond. You will also not be charged with VAT and duties if you buy within EU.
I have to say that, for something like a Rolex, I wouldn't buy from abroad at all. I'd take the hit and pay UK dealer prices (which I did for mine) or get one from someone I trusted on Sales Corner (which I know isn't an option for you yet). Yes you will pay more, particularly from a dealer, but if there's anything wrong with it you have somewhere to take it back to and you don't have any barriers around international shipping etc. I have bought a number of watches from abroad (including an eBay purchase from Romania, so I'm not completely risk averse), but I wouldn't risk Rolex money in this way.
Just my tuppence worth
Try Mike Wood at The Old Watch Shop - he's a member on here.
There is also Sweepinghand (Jason) - also a TZ member.
Note that Chrono24 is just an advertising site. It plays no part in the transaction. If you buy from a vendor advertising on Chrono24 then the deal is with the vendor. If you run into problems then Chrono24 will not help you in any way. Also note that the 'Trusted Seller' label on Chrono24 means only that the vendor paid for it; it has no significance apart from that.
All that said, Chrono24 is a great place to find a big selection of watches but you must do your own research into whether or not the vendor is trustworthy. Italian vendors often offer the best deals on Rolex inside the EU but you do need to be careful to buy from a reliable one (but that goes for any vendor anywhere, of course).
As Mark said. I do not like to switch alarms for Italians but the truth is some of them buys watch from overseas and have not paid VAT and duty on them that is why are they so cheap. Once you get it serviced you are done.
Surely possible lack of VAT payment on importation into the EU does not matter in the slightest. Rolex have no way of knowing (and no reason to care) if VAT has been paid on any particular watch or not. Serial numbers are not recorded on import into the EU. If a watch makes it into the EU without having VAT paid on it then, to all intents and purposes, it is completely free and clear as far as subsequent purchasers are concerned. The only potential problem with servicing a Rolex is if the watch has been stolen.
Or were you suggesting that some dealers knowingly buy stolen goods?
Having tried a few different 'routes to ownership' I would definitely suggest hanging around here and looking on Sales Corner . . . what a great bunch of guys who are supportive throughout. Much easier and simpler than an international auction site where you have no idea what you are buying!!
What I did not even know that ? I thought all the watches that has been imported from US to EU or from EU to US having not VAT paid are hot.
That is strange.
Yep exactly. Rolex have no idea which watch has vat paid or what, it makes no sense. It is a non-issue.
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Ofcourse it is HOT but that is when your'e importing it, ur paying vat/duties. Rolex has nothing to do with it. VAT is set by governments, not rolex.
Yeah no doubt the sales corner on here will be a good option. As a new member I gotta wait for 50 posts to see the corner but Im in no hurry.
Cheers
Haha newbie indeed. Im about as green as they come!
Sales Corner on here is a fantastic place to buy, usually from very knowledgeable people :)
Don't use chrono24 unless you can pay with PayPal as there is no protection.
I have brought over 25 rolex watches on eBay you might get the odd problem but eBay quickly sort it out.
What's your budget? If you want box, papers, decent bracelet and service you will be looking £1500 - £2000
If you buy new you get an international warranty so you can take it wherever you like.
+1! absolutely.
No different than coming in on a flight with a watch on your wrist.
As I was buying a Sea-Dweller 16600 new was not an option.
I have bought two Rolex watches via chrono24 and both times everything went as it should be.
Maybe you can also try of the sellers on rolexforums.com.
I think a reality check is in order here: Once you're into spending Rolex money you are taking a big risk if you don`t inspect the watch in person, even if you know what you're doing. My advice is to buy from the UK and do a face to face deal, even if it involves a days-worth of travelling.
Get to know the model well; you'll only do that by looking at some poor ones.......and I don`t mean looking at photos on a computer. Handle the watches, it's the only way to learn.
Most 1980s 16013s will be in poor condition. The bracelets deteriorate badly and they're very expensive to replace. Bezels get scruffy, with the peaks worn away from the fluted parts. My advice is to forget the birth-year crap, don`t let it sway your judgement, it makes no sense to be constrained to one single year, it's madness when you think about it.
I wouldn`t be concerned about box & papers, the priority is the condition of the watch. Make sure the bracelet has all it's links, be sure the watch is genuine, and look for evidence of service history.
It might make sense to save amore money and get a more recent example. Spending several £100s more can get a much better watch. I`d even think about buying a post 2006 model because they're much more robust. Sure, they're more expensive, but it might be a safer way to go.
Searching for a watch requires patience and self-discipline. You'll find a good one eventually, but it may take a while.
good luck
Paul
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