When it comes to a watch authentication, it differs from a diamond or any jewelry appraisal. It could be due to the factors and process involved in the appraisal. It should be unbiased to the brand.
What is a watch appraisal?
A watch appraisal is a procedure that takes the functionality, physical condition, appearance, and rarity of a watch to estimate its monetary value in the market. An appraisal is done for tax and insurance purposes.
Rolex Appraisals
Rolex is an investment-grade luxury watch. It is a good investment as its value rises every year, giving a solid resale and return. A Rolex is a functional artwork that should be essentially insured, particularly a high-end one.
It is important to get your Rolex insured to get an appropriate Rolex appraiser who possesses in-depth knowledge about the watch and its condition. Rolex appraisers check the condition of a Rolex watch and do the right Rolex valuation estimates without any undervalue or overvalue of the timepiece.
A correct Rolex appraisal culminates in a value statement with the authorization of the appraiser with a signature. The statement gives the definitive purpose of the appraisal. It also provides a seller with protection.
Rolex valuation
Rolex valuation and authentication assess your watch to give you an in-depth analysis of every aspect of authenticity and value determination. It offers the buyers a detailed report which displays the watch’s condition and features.
Inflated Appraisal value
This is an overvalued Rolex which ends up paying more on its insurance fee. Beware of inflated value as these values could be due to the appraiser fee justification, higher insurance fee for insurance company, and the appraiser’s inexperience.
Do your research or have to face the tune
A Rolex appraiser should be selected carefully. He should have the expertise to do it to get a precise estimate based on the current market. Look for expertise who attend trade events often and belong to organizations handling watches. A member of the IWJG-International watch and jewelry guild is a big plus as it is the world’s biggest organization. A wrong appraiser can land your inflated appraisal.
How to Appraise Your Rolex Watch?
When you take your watch to a fine appraiser, they analyze your timepiece for some prominent factors. This can be done rightly by an experienced appraiser.
Rolex appraisals are done on the following factors:
Timepiece condition
Just like with jewelry, diamonds, home, or fine art, the condition of your watch makes a lot of difference. If any part of the watch, such as its bezel, crystal, case, or bracelet, has scratches or damages, then the value is considerably decreased.
A shallow scratch can be buffed out and may not even impact the price. The watch movement also contributes to the timepiece condition. So, a regular screw to your Rolex watch is important so that it does not die out. Also, dust, particles, and water can impact the condition and watch movement.
Rarity
The production size of the Rolex timepiece in the manufacturing year affects its appraisal value considerably.
Complexity
15 mechanical parts and 200 small intricate parts are as much that a luxury watch such as Rolex can have. This is why luxury watches are also called functional jewelry. They are mini artwork that is handcrafted and created by master makers. They function without any electronic circuitry with the help of complex and calculated functionality. The more complex the luxury watch, the more its value.
Material
The material and its quality is a big value factor to its value, just like jewelry or fine art. Materials used to make the timepiece like the bezel, bracelet, and dial impact the price. Bezels of platinum, titanium, gold, stainless steel, and then ceramic hold a hierarchy to their value. Different materials have different appraisal values. Some watches even have diamonds in them.
Current market
The appraisal value is variant with the condition of the watch market. Market value is the price that the present population is ready to pay for your pre-owned watch. Watching recent sales will give you the timepieces’ market value.
Brand name
A timepiece brand name makes a great deal of difference in its value. Rolex is the most sought after brand with a successful long history for high-end watches has a high resale and lasts long.
Year of make
A Rolex watch year of make is appraised differently for a different year.
Serial number and Model
The model of the Rolex timepiece and its serial number affects its value. The bracelet and case meet at the right 12 o clock are where you will find the watch model number. If it is a rare timepiece, then its value is higher as its availability is also low. The watch is engraved with its serial number at 6 o’clock at the same spot. Its model number depicts the movement, year, and material, and so it holds value to the watch.
Papers and Box
Your authentication papers and its Rolex box during the purchase is equally essential. They will fetch you more price as compared to a watch without them.
Only an expert can assess an appropriate appraisal value based on these factors.
Other Rolex watches and their value
- A Rolex watch that is not worn before is regarded as New Old Stock or NOS. They are ideal in their condition, and so their worth is also equally good.
- Vintage Rolex timepieces are tough to get appraised. This is because it is also hard to determine their condition. Their signs are an indication of old age and are sought by collectors. They hold value for their uniqueness, rareness, color, dials, hands, and so on.
- Gilt dials are present sport Rolexes with logo, text, minute track in gold color, markings, and glossy black surface. Their value is very high.
Conclusion
Rolex appraisals are essential for insurance and tax purposes. They give your Rolex a valuation amount or estimate of the price in the current market. A Rolex appraisal is done by an appraiser who assesses the watch based on its condition, model, time of make, serial number, materials, complexity, and rareness. The right appraiser will be able to assess the value of the timepiece appropriately without undervaluing or overvaluing it. Get your Rolex appraisal done by an expert appraiser like Mimi’s Jewelry which is owned by David Truong.
