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Luxury Watches Endured the Effects of COVID-19 Due to Digital Marketing

July 3rd, 2020
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The outbreak of COVID-19 was expected to decrease the luxury watch sales both in the retail and second hand market. But fortunately, the pandemic could not significantly influence the high-end watch market by reducing their sales across the world.

Thanks to the digital marketing and online channels, it boosted online sales dramatically than ever before.

Luxury watches are available in stainless steel, platinum, and gold and also may come with a rugged coating for durability in harsh conditions.

However, they are not immune to the pandemic situation. Eventually, the overall exports of Swiss watches decreased by nearly 81.3% in April.

But the interesting fact is:

The grandeur, value and appeal of these high-end watches continued to prove influential, even during the lockdown time.

  • The factory, workshop and boutique closed during the pandemic crisis
  • More significantly, the Chinese tourists also disappeared who make up much of the demand.

All these factors distressed the watch sales this year.

Although consumers were now more vigilant about spending because of COVID-19, Chinese dealers continued to sell watches online to especially local customers in the UK and the US.

However, at a time when Swiss watches’ exports were smashing into a low in April, British luxury watch dealers reported that they experienced a boost in the sales by about 82%.

Nearly 80% of their businesses come from domestic customers rather than passing traders or tourists.

It is further reported that –

Customers during the lockdown began shopping online from 8 a.m. till 10 p.m. And the scenario was the same every day.

Moreover, some watch specialists also stated that the level of conversion is much higher worldwide.

  • Although the traffic is less, a few people who are visiting want to shop.
  • Interestingly, the conversion is high on reduced traffic.
  • And it is eventually delivering great numbers for the watch industry in particular.

However, besides the watch, the demand for fine jewellery also remained virtually the same. This is mainly because both watches and jewellery typically retain their value well over the years.

Thus, they continue to be a wise investment for consumers who can afford them.

Well, many essential factors like the rarity, value and durability are keeping the sales of luxury watches buoyant even in this atypical year.

Whether it is in the retail or the pre-owned watch market, online platforms significantly boosted the watch sales during the crisis time.

Conclusion

Unlike any other luxury items, the watch industry has hardly suffered from severe damages due to COVID-19. However, the pandemic has significantly influenced the dynamics of the luxury watch businesses.

While the physical stores were closed, many brands like Vacheron Constantin and Panerai went online immediately to keep the sales up, communicate and forge a closer tie with customers.

Moreover, leading watch retailers and also, second hand watch dealers accelerated their digital investment. They made substantial efforts to upgrade their websites to boost online watch sales and reach more customers.

However, are you looking to sell your watch for the best price? Fill up our online form now to get a free valuation.

Rolex Price Increase 2020

June 30th, 2020

Rolex has increased its retail prices by an average of 7.4% in 2020. And it is no surprise that this price increase will also raise prices in the pre-owned market.

The price increase is already active from 1st January. This means Rolex watches have now become more expensive worldwide. However, the percentage of the increase may vary according to the country and also, the particular watch model.

The more interesting fact is that the United Kingdom has seen virtually high percentage upsurge like some other places such as Singapore and Hong Kong.

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The Upmarket Over the Time

Watch collectors or aficionados who continually monitor the market in all depths are conversant with the fact that:

The price increase happens gradually throughout history. Watch manufacturers slowly raises the retail prices of their luxury watches.

And Rolex is one of the significant examples of this in the current years. The Crowned King of watches has firmly elevated its watch line more upmarket over time.

Rolex increased its prices in the UK in 2016 and 2018, continuing the trend too in 2020.

In the United Kingdom, prices have increased by 7.4% on average. However, the accurate figure will vary between the models.
For example, you can expect a Rolex Daytona in white gold to increase in price by nearly £1,500.

On the other hand, a white gold Rolex Day-Date will go up by over £2,000.

Well, Rolex may not have increased the prices just because of the increasing cost of platinum and gold. What do you think?

It can be a deliberate resolution to re-position some of its watches in the luxury market.

Rolex might be considering 2020 as an excellent time to persevere its exclusive strategy of making a more luxurious image.

However, the interesting fact is:

The crazy bump in Rolex prices in the retail market has eventually created an agitation in the second hand market, especially for models such as the stainless steel Daytona and many other coveted sports watches.

The Conclusion

No matter what, the upsurge in Rolex prices has hardly discouraged any watch enthusiasts who have been on a long waiting list for many years.

In fact, the increase in prices has further strengthened the notion that a Rolex watch is a good investment.

Nonetheless, are you wondering how much your Rolex is worth? Then, check out our Rolex buying price guide or fill up our online form for a free competitive quote today.

Rolex GMT-Master II Batman 116710BLNR Vs 126710BLNR

June 19th, 2020

At Baselworld 2019, Rolex launched an upgraded GMT-Master II steel watch. The watch features a black-and-blue ceramic bezel that soon earned it the nickname “Batman”.

The iconic Rolex GMT-Master II Batman immediately became one of the most coveted watches in the world.

However, Rolex developed and released the new GMT-Master II 126710BLNR in 2019, replacing its earlier popular sibling reference 116710BLNR.

The new ref 126710BLNR boasts many significant upgrades, making it functionally superior to its predecessor.

So, what has Rolex exactly improved in the new Rolex Batman? What is the difference between the new and old Batman?

Today we have come up with a quick comparison between the new generation Rolex GMT-Master II 1267210BLNR and its popular early discontinued iteration, the reference 116710BLNR.

Have a look!

However, if you are looking to sell a Rolex watch for the best price, get in touch with the trusted watch buyers in London.

A Brief Account of The Two Rolex Batman References

Rolex GMT-Master II Reference 116710BLNR

Ever since Rolex introduced the GMT-Master II 116710BLNR in 2013, the watch became highly desirable.

Rolex developed this 904L steel watch as a part of the new generation GMT-Master II watches.

  • However, the watch features heftier Oyster “Super” case of 400m diameter, fatter lugs, and more prominent Maxi dials.
  • The GMT-Master II reference 116710BLNR also flaunted bi-directional rotating Cerachrom bezels.

Moreover, the reference 116710BLNR was also the brand’s first steel watch with a bi-colour ceramic bezel.

This appealed to huge collectors across the world at the time, making it historically significant to date.

Rolex GMT-Master II Reference 126710BLNR

Although Rolex made some significant upgrades to the reference 126710BLNR, the watch retained some features of its predecessor.

The Rolex GMT-Master II 126710 watch sports the similar 40mm steel case and black-and-blue rotating Cerachrom bezel.

  • Moreover, the watch flaunts a black dial with a date window at 3 o’clock position.
  • The dial also features 11 luminous hour markers, an arrow-tipped blue 24-hour hand and luminescent Mercedes-style hands.
  • On the contrary, the new Batman comes with a stainless steel Jubilee bracelet.

Among the four popular Rolex bracelets, the Jubilee bracelet is considered as a much dressier in design than the sporty Oyster one.

However, Rolex equipped the Jubilee bracelet of the GMT-Master II 126710 with the Easylink extension system and Oysterlock clasp.

How much can I get if I sell my Rolex watch? Call now The Luxury Hut watch buyers on 0207 242 5411 for an instant quote over the phone.

New Rolex GMT-Master II Batman Vs Old Batman: Features

Case

The new Rolex GMT-Master II 126710 watch’s case may appear virtually similar to its earlier iteration.

However, the fact is that Rolex has little bit re-shaped the lugs to offer a more refined look.

Rolex made minimal changes to the case measuring 40mm in diameter. And you could understand the difference only if you compare the ref 126710 with ref 116710 keeping them side by side.

Bracelet

Ideally, the most significant upgrade made to the new Rolex Batman 126710 is the Jubilee bracelet.

The old GMT-Master II reference 116710 flaunted a stainless steel Oyster bracelet.

  • However, Rolex equipped the new Batman reference with the Jubilee.
  • Interestingly, as of 2019, there are no existing stainless GMT-Master II models with an Oyster bracelet.
  • Today, the Rolex Batman versions are only available with Jubilee bracelets.

Although the bracelet on the new Rolex Batman and old Batman is significantly different, the clasps are nearly similar.

Both the bracelets come with the brand’s patented Oysterlock safety clasp and the Easylink extension system.

Dial

Both the new Batman 126710 and the previous Batman reference feature almost identical dial aesthetically.

However, Rolex made a slight improvement on the dial of the new Batman version.

  • The dial flaunts the signature Rolex logo in the middle of the words “Swiss” and “Made” appearing under the 6 o’clock.

Apart from this minor upgrade, both the dials are entirely the same.

The new GMT-Master II Batman and the old Batman feature a “Maxi” dial and a more prominent hour markers.

Movement

Rolex equipped the previous GMT-Master II ref 116710 with the proprietary Calibre 3186 movement.

However, the new Batman 126710 is powered by the Calibre 3285.

The Calibre 3285 is the brand’s latest generation of GMT movement, based on the new and refined Chronergy escapement.

  • Moreover, the two movements ensure a similar timekeeping precision of +2/-2 seconds per day.
  • But the Chronergy escapement enables the Calibre 3285 to have an increased power reserve of 70hours.

However, the brand’s Paraflex shock absorbers also allow the Calibre 3285 to offer a higher resistance to shocks.

Rolex GMT-Master II 126710 Vs 116710: The Most Significant Differences

The most noticeable differences between the Rolex Batman ref 126710 and ref 116710 lie in their bracelets and movements.

The new GMT-Master II 126710BLNR provide a more power reserve than its predecessor.

However, the unique aesthetics that the Jubilee bracelet offers to the new Batman ideally makes it more coveted among the collectors.

If you own a Rolex Batman 126710BLNR and want to raise instant cash, sell your Rolex watch to any trusted watch buyers.

The Luxury Hut specialises in buying all Rolex watch models for competitive prices. While we continuously keep track of the changing market trends and prices, we can determine an accurate value of any Rolex watch that customers want to sell.

Sell Rolex watches online or via appointment in London or from anywhere in the UK. Nonetheless, the process is quick, secure and hassle-free.

Fill up a simple online form now, providing all information on your watch as much as possible. You will receive a free competitive quote immediately.

Alternatively, you can call on 0207 242 5411 to book an appointment at our office in Hatton Garden, London.

8 Vintage Rolex Models that Can Fetch a Premium in Pre-owned Market

June 2nd, 2020
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Rolex Oyster Perpetual Ref. 6062

  • Released in 1950, Rolex 6062 is considered as the most esteemed Rolex watch ever produced.
  • It is one of the two Rolexes to flaunt a “Triple Calendar”.
  • The watch comes with the legendary Rolex Oyster case.
  • The ref. 6062 with a “Star Dial” is specifically scarce and thus, can fetch higher prices.

Rolex Oyster Ref. 3525

  • Rolex ref. 3525 is one of the most coveted chronographs.
  • It is the ever first Rolex chronograph that comes with a water-resistant “Oyster” case and screw-down crown.
  • Collectors typically refer the watch to as “Monoblocco” as the case, along with the bezel, is made of one solid metal piece.
  • Rolex offered the ref. 3525 in yellow gold, pink gold, stainless steel and bi-metal steel and gold.

Rolex Day-Date Ref. 1803

  • Introduced in 1955, the Rolex Day-Date ref 1803 is considered as one of the brand’s most prestigious watches.
  • Those with “Stella” dials and hard-stone dials are more coveted models.
  • The ref 1803 is known to be the most successful version of the Day-Date collection.
  • It is available in various dials and case materials and worn by sportsmen, celebrities and presidents.

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Rolex Oyster Perpetual Ref. 6542

  • The Rolex Ref. 6542 is the most sought-after GMT-Master reference.
  • The watch features a Bakelite bezel and 24-hour graduation.
  • Rolex used Bakelite for its high legibility and reflectivity.
  • The watch can track time of dual time zones simultaneously.

Rolex Submariner Ref. 6200

  • The ref 6200 features a large case and a rounded case-back.
  • The big “Brevet” crown refined the water-resistance ability and offered a sporty, masculine look.
  • The dial features a rarer Explorer 3, 6, 9-layout that specifically appeals to collectors.
  • It is the first Rolex Submariner watch to flaunt “Mercedes” hand instead of “pencil” hands

Rolex Cosmograph Daytona Ref. 6263

  • The Rolex Daytona is an icon the vintage watch world.
  • Launched in 1969, the ref 6263 exhibits the ultimate manual chronograph.
  • The watch also comes with a more sporty design and many technical improvements.
  • The Rolex reference 6263 continues to appeal watch enthusiasts through its perfect variety of iterations the brand offered over the years.

Rolex Milgauss Ref. 6541

  • Rolex introduced the reference 6541 (known as the Milgauss) in the 1950s.
  • It was the first model to feature a soft iron anti-magnetic container enclosing the movement.
  • The watch can combat magnetic forces of nearly 1,000gauss.
  • The ref 6541 also flaunts an atypical lightning bolt seconds-hand on the honeycomb-styled dial and a rotating bezel.

Rolex Ref. 4113

  • Many Rolex collectors only dream of owning this watch.
  • Rolex is believed to have produced only 12 iterations of this watch in steel in 1942.
  • Each watch carries case numbers that range from 051313 to 051324.
  • Rolex ideally designed the reference 4113 for car racers.

The History of Rolex in the Development of Wristwatches

May 18th, 2020
history of rolex

Rolex is a brand whose name reiterates beyond the boundaries of the luxury watchmaking industry.

The term “Rolex” is today synonymous with the ultimate luxury, class, quality and precision.

Ever since Hans Wilsdorf founded it in 1905, the brand transformed the synopsis of the wristwatch industry with its major watchmaking innovations.

Over the years, Rolex watches accompanied the wrists of several pioneers, athletes, explorers and divers, conquering both land and sea.

Rolex is indeed recognised and cherished for its consistent pursuit of eminence, absolute precision, and metamorphic innovations.

The Origination

The young entrepreneur Hans Wilsdorf at the age of 24, founded a watch company in 1905, along with his brother-in-law Alfred Davis.

However, the company initially named as “Wilsdorf and Davis” specialised in the distribution of watches to the jewellers.

Eventually, some earlier timepieces produced often came with the engraving “W&D” on within the case-back.

Interestingly, Hans Wilsdorf started to dream of wristwatches. Now:

The fact is that wristwatches were not popular or precise during the dawn of the 20th century.

  • However, Wilsdorf anticipated that wristwatches would turn to be sophisticated, as well as durable.
  • At the time, a Swiss watch-manufacturing company in Bienne produced precise, small movements.

And Wilsdorf began equipping his resolute timepieces with these movements for convincing the public of their reliability.

Formation of the Iconic Brand & Its Innovations

  • 1908

The year 1908 was significant for the brand. Hans Wilsdorf filed the name “Rolex” as a trademark.

So, why is Rolex called Rolex? Or how did the term Rolex originate?

The legend says that Wilsdorf wanted to give its timepieces a short and easy-to-pronounce name.

  • Moreover, the name should look good on the watch’s dial and movement.
  • Thus, he tried to combine the alphabets in every possible way.
  • Although it gave hundred of names, Wilsdorf didn’t like any of them.

However, Wilsdorf finally chose the word “Rolex” because it also resonates like a timepiece being wound.

He said that he was riding one morning along the Cheapside in the City of London on a horse-drawn omnibus. At that time, a genie whispered the name “Rolex” in his ear.

  • 1910

Hans Wilsdorf had am unabated quest for absolute chronometric precision. Thus, the brand first focused on the movement’s quality.

In 1910, a Rolex watch acquired the Swiss Certificate of Chronometric Precision. It was the world’s ever first wristwatch to receive the certificate from the Official Watch Rating Centre, Bienne.

  • 1914

The Kew Observatory in Great Britain awarded a Class “A” Precision Certificate to a Rolex watch in 1914.

However, this certificate was exclusively offered to marine chronometers.

From that date onwards, Rolex watches became synonymous with precision.

  • 1919

Wilsdorf had to leave England because of the wartime taxes that were imposed on luxury assets in 1919.

Eventually, the price of gold and silver increased, and Rolex watches also became too expensive.

Thus, Rolex relocated in the globally-renowned watchmaking city, Geneva. Later, Wilsdorf registered Montres Rolex S.A. in 1920 in Geneva.

  • 1926

Rolex produced the first water-resistant wristwatch in 1926. The watch came with a hermetically sealed case dubbed as “Oyster” that offered optimal protection for its movement.

However, the Oyster case is considered as one of the biggest innovations not only in the brand’s history but also in the watchmaking industry.

Overall, the watch boasted a classic aesthetic featuring fluted bezel and case-back.

  • 1927

Hans Wilsdorf wanted to be more confident about its waterproof watch and the inner movement.

Thus, he implored the young English swimmer Mercedes Gleitze to wear one of these watches around her neck during the swim in 1927.

  • Unfortunately, Gleitze failed in her attempt to cross the Chanel.
  • However, the Rolex watch performed endearingly throughout the swim for over 10hours.
  • It kept accurate timing, and the innovative “Oyster” case did not allow a single water drop to enter.

Rolex celebrated this significant success of its waterproof watch by publishing a full-page ad on the Daily Mail’s front page.

  • 1931

Rolex developed and patented the first self-winding mechanism of the world. Thus, Rolex introduced its first Oyster Perpetual watch in 1931.

  • The watch incorporates an automatic Perpetual movement, secured within a water-resistant case.
  • However, this ingenious system today graces all modern automatic Rolex watches.

This self-winding mechanism, along with a Perpetual rotor is one of the finest creations of Rolex that contributed significantly to watchmaking advancements.

Over the next 50years, Rolex released a series of models, and each of them became a classic for their compelling history and exclusiveness.

However, are you looking for the best place to sell your Rolex watch in London? Fill up this online form today and get a free competitive valuation.

Trusted watch buyers at The Luxury Hut provide a secure and straightforward way to sell Rolex watches online or via appointment in London.

Our expert evaluators continually keep track of the changing market trends and prices of the pre-owned Rolex watches. Thus, you can rest assured that we will buy your Rolex watch for the best possible price in London.

Thus, get in touch with us at The Luxury Hut today to sell your Rolex watch.

7 Most Versatile Rolex Watches For Men And Women

April 30th, 2020
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ROLEX DATEJUST

The Rolex Datejust has been defining luxury and class since 1945. Rolex designed this elegant beauty to suit both the robust wrist of men and the delicate female wrist.

ROLEX DAYTONA

Introduced in 1963 exclusively for race car drivers, the Rolex Daytona epitomises symmetry, balance, and precision. It is an all-time favourite and desirable watch among men and women.

ROLEX SUBMARINER

Rolex launched this robust beauty nearly more than 60years ago. This sporty divers’ watch has undergone several modifications over time, making it more attractive and desirable.

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ROLEX GMT-MASTER II BATMAN

The GMT-Master II Batman is one of the most popular Rolexes, designed exclusively to sit comfortably on the wrist of men & women. The 5mm Easylink extension makes it more elegant.

ROLEX DATEJUST PEARLMASTER 29

The Pearlmaster 29 exhibits sheer beauty and elegance, featuring precious metal and gemstones like diamond, sapphires, emeralds or rubies on its dial. The watch has a unique place in the Oyster collection.

ROLEX GMT-MASTER II PEPSI

The GMT-Master II Pepsi is extremely popular because of its unique dual-toned bezel that originally denoted day and night. The watch is the ultimate illustration of a classic in pure form.

ROLEX DAYTONA RAINBOW

The extravagant Daytona Rainbow reflects the highest standard of Rolex’s artistry that oozes charm and simplicity. The watch features sapphires and rainbow gradation. While they are difficult to create, Daytona Rainbow is rarer and more valuable.

7 most versatile rolex watches for men and women