Rolex deliberately creates long waitlists for new watches, forcing buyers to the secondary market where used models sell for thousands more. Rare discontinued watches have become investment assets, with some reaching valuations over $17 million.
These days, pretty much every Rolex watch costs more used than it does new. But why? Almost everything we buy costs way more when it's new. They all lose value the second you leave the store. But the used Rolex market is doing something weird. It's booming. Let's say you're in the market for a new watch. You've done your research and decide on a Rolex Daytona. So you head down to the store. I'll take your finest Daytona, please. And the clerk just, well, laughs at you. They say you'll have to join the waitlist. Maybe one will be available next year. And here Rolex is doing this intentionally. They're using a technique of human psychology to make a great business. Many customers, it turns out, want a thing more the harder it is to obtain. Why? Because owning a scarce or expensive item shows other people you have the power to get one. And the only way you can get a Rolex fast enough is through resale. And with buyers flooding in, prices keep going way up, and the used market is growing way faster than the new watch market. With styles discontinued and rare designs, some of these watches are even becoming an investment item. And today, some are valued at over $17 million.
