To Declare or not Declare Your Rolex (2024)

FAQs

Do I need to declare Rolex? ›

Of course, you won't need to declare items from home, but if you're bringing in several Rolexes, Omegas, or necklaces as gifts or for other personal use, you're probably better off declaring what you have. Remember that you should declare any watches or jewelry you buy while abroad, even if you plan to wear them home.

It's unadvisable to buy a pre-owned Rolex without the papers. A certain number of watches are sold without papers and you will pay less for them because of that. And it's good to note that watch enthusiasts who like to own and wear watches can place less value in whether or not the watch come with the original papers.

While it's a minor oversimplification, they all fit under the canopy of Rolex S.A. which is owned entirely by the Hans Wilsdorf Foundation. It is the Hans Wilsdorf Foundation that is recognized by the Swiss government as a charitable trust. According to Swiss law, this means they pay no taxes.

An official Rolex remains an incredible timepiece and will still appeal to buyers without the papers. As such, you can sell a Rolex without the guarantee card. While the absence of a guarantee card will likely reduce the watch's value, the impact might be more negligible than you think.

With the serial number, Rolex can identify which AD sold that watch and can in turn contact them, informing them that one of their customers is selling their watch. When the retailer finds out about this, they will likely blacklist you.

Any Rolex watch, from the relatively no-frills Datejust to the sporty Daytona, is a status symbol. But there's one model in the brand's catalogue that stands apart as a true signifier of wealth, power and prestige.

After checking if it's original, running the serial number is important, for checking whether the Rolex wasn't reported missing. In that case, you wouldn't be able to cash it. On the other way, it can be really valuable for you. The serial number is a critical part of authenticating your watch.

The resale value of a Rolex watch without its box and papers can decrease by 10% to 30%, depending on the model, condition, and market demand.

How much are Box and Papers Worth for a Watch? As a general rule, box and papers will add roughly 25% to the value of a watch. Regardless, the most important thing when buying a pre-owned watch is the watch itself.

If you give a gold Rolex to your top employee as a bonus, then it is deductible as a business expense. None. To be an expense, you have to prove that is it a useful and necessary part of your business. Showing bling is NOT a necessary part of business.

Where is the best place to buy Rolex to avoid tax? ›

Hong Kong: Hong Kong has long been known as a great place to buy luxury watches, including Rolex. The city has low taxes on luxury items, and as a result, the prices of Rolex watches are relatively low compared to other countries.

The short answer is yes. Rolex watches have become a popular investment option for collectors and investors as they see their value increasing significantly over time. Here's why: First, Rolex is a highly respected brand with a long history of producing quality timepieces.

Since most Rolex owners choose to register their watches with Rolex USA via serial numbers, they also tend to report cases of theft or loss. You can also use the Rolex Tracker to check the origin of your watch. Owners use the tool to register the watch and make them fully traceable if they are stolen.

Does Rolex register watches? Rolex does not have an official online registration system, so you can't just register your Rolex at will. However, Rolex does register watches that have been serviced at Rolex Service Centers.

Owner's manual for the specific watch reference you purchased. Warranty booklet explaining Rolex's 5 year warranty on watches. Factory service guide. Bezel protector.

Rolex has built such a strong brand and reputation in the market that it's rare for a Rolex to drastically decrease in value over time. If your Rolex is kept in great condition over the course of time it's on your wrist, it will most likely maintain its value fairly well and sometimes noticeably increase in value.

Private Individuals. Buy with confidence by checking the serial number of any pre-owned watch against THE WATCH REGISTER database or asking if your seller has already done so. It is the simplest step to ensuring good title.

Getting your watch authenticated at a Rolex Service Center holds the most credibility but also costs, on average, about $150. You can walk into the service center, pay the fee and a professional will authenticate right there.

People who wear a Rolex are usually keen on details. If at one time or another you have found yourself staring at a Rolex wearer and noticing there is something bold and brilliant about him or her, it is probably because they are quite unique in a handful of ways.

To buy a Rolex Daytona, the waitlist is often suggested to be 5 or 10 years long. The harsh reality is that unless you have a large spending history with your Authorised Rolex dealer you're unlikely to ever be offered a Rolex Daytona.

What happens when a Rolex is reported stolen? ›

If the watch is not registered as stolen, the watch will of course be returned (and you will then have paperwork showing you as the owner, at least in Rolex's eyes). If the watch is registered as stolen, it is held for the authorities. Alpha Hands has more details on how to submit a stolen watch to Rolex.

Rolex keeps a record of each watch sold, and the buyer or the gift recipient is given a guarantee card with information on that watch, including the serial number. If your watch is stolen or lost, you can contact a Rolex retailer and report this information.

This is the reason why the original warranty card is still referred to as ”papers”. So to elaborate on the actual question, yes, you can sell your Rolex without the original papers, but almost certainly, you will get less money for it compared to if you would have the original papers.

As mentioned at the start, there is no right or wrong answer when it comes to the importance of having the box and papers. It's all down to your personal preference. Hopefully, you can make a more informed decision next time you buy a pre-owned watch.

What's the cheapest Rolex? Prices can vary, but generally speaking the cheapest Rolex watch is the Rolex Oyster Perpetual, which has a starting price of around $5,000 if you're buying new, but can sometimes be found for cheaper if you don't mind buying a used model on the pre-owned market.

Even the cheapest Rolex watch will cost around $5,000. Rolex is a luxury watch brand, so while collectors pay to wear a brand name, they also pay for quality Swiss craftsmanship designed to remain in perfect working condition for generations.

Serial number

One way to check if a Rolex is authentic is to look at the serial number. This serial number can be found on the side of the watch case, right behind the bracelet. This means that in order to access this serial number, you need to remove the bracelet on that side.

These papers contained the serial number along with the place and date of purchase. However, in late 2006, Rolex began using a plastic credit-card-shaped warranty card for purchases, replacing traditional paper.

For Customs purposes, clothing, jewelry, photography equipment, portable radios, and vehicles are considered personal effects and cannot be brought in duty-free as household effects. However, duty is usually waived on personal effects more than one year of age.

The Rolex international five-year guarantee, issued by Rolex itself, will be completed and dated by your Official Rolex Jeweler at the time of purchase and registered with Rolex.

Do you get a certificate when buying a Rolex? ›

The Two-Year

Delivered at the time of sale, the Rolex Certified Pre-Owned guarantee card officially confirms that the watch is genuine on the date of purchase and guarantees its proper functioning for a period of two years from this date in accordance with the guarantee manual.

So to elaborate on the actual question, yes, you can sell your Rolex without the original papers, but almost certainly, you will get less money for it compared to if you would have the original papers. The ideal situation is of course that you have the box, papers, manual, and other original accessories.

The primary penalty a person will face when failing to disclose any item through the United States Customs and Border Protection is the seizure and loss of the property. This generally starts when clearing customs when arriving in the country if no declaration is made.

Example B: If you bring in $15,000 worth of designer clothes and jewelry and you do not declare it Customs at the time of entry, then CBP can seize the clothes and jewelry that were not declared and impose a $15,000 penalty.

Merchandise is declared to CBP. If you do not declare something that should have been declared, you risk forfeiting the item.

Does Rolex register watches? Rolex does not have an official online registration system, so you can't just register your Rolex at will. However, Rolex does register watches that have been serviced at Rolex Service Centers.

Getting your watch authenticated at a Rolex Service Center holds the most credibility but also costs, on average, about $150. You can walk into the service center, pay the fee and a professional will authenticate right there.

To guarantee continued accuracy and waterproofness, Rolex recommends that you periodically return your watch to an Official Rolex Jeweler or Service Centre for professional servicing. It is recommended to service your Rolex approximately every 10 years depending on the model and real-life usage.

Owner's manual for the specific watch reference you purchased. Warranty booklet explaining Rolex's 5 year warranty on watches. Factory service guide.

The GMT Master and GMT Master II. Rolex GMT Master and Rolex GMT Master II are the best Rolex watches for investment. They are practical and hardwearing watches with the prestigious Rolex branding. You can get a GMT Master at a few thousand pounds, but rarer models can go for tens or hundreds of thousands.

Why you can't just buy a Rolex? ›

Clearly, divergent supply and demand is what's driving the scarcity of Rolexes available for purchase. Demand is astronomically high, and even a supply of one million new watches per year can't meet it. It comes down to a numbers game, and there's no sign that this will be changing any time soon.

Jewelers (local or online):

This is by far the best option for selling a pre owned Rolex watch. With that being said, make sure that the jeweler/jewelry store is trustworthy and reputable.