Bob’s Watches, which is considered one of the world’s biggest and most trusted specialists in pre-owned Rolex watches, is holding 24-hour auctions for highly desirable models in a 12 Days of Christmas promotion.
The auctions kick-off today with a GMT Master Batman timepiece with a starting bid price of $5000.
With Rolex steel sports watches almost impossible to buy new from authorized dealers, many customers have turned to the secondary market to get their hands on the most elusive models.
Bob’s Watches is offering vintage timepieces including a 1971 Rolex Sea-Dweller with a starting price of $20,000 and a 1972 white dial Daytona with bids starting at $15,000.
It is the second auction held by Bob’s Watches this year as the company’s business booms on the back of soaring Rolex demand.
“Rolex is on fire — new and old. Some new sport models like the Daytona 116500 are practically impossible to buy at retail, and vintage values seem to be increasing daily,” says Paul Altieri, CEO of Bob’s Watches.
Every watch is sold in its original box with papers, and the winning bidder will pay zero buyer’s premium. Bob’s Watches will make a margin because, unlike auction houses, it has already bought all the watches that are up for sale.
Auction houses typically charge buyer’s premiums of 20-25%, so the saving could be significant if bidders don’t price-in the discount.
“The auction format is our way of allowing customers to get into the Rolex of their dreams with no buyers commission added to the purchase. What you bid is what you pay. It’s a much more democratic way of offering these exotic, pre-owned timepieces,” suggests Mr Altieri.
Bob’s also has every watch checked, authenticated and serviced. They are sold with Bob’s one year service guarantee and lifetime authenticity guarantee. The business is one of the largest and respected pre-owned Rolex dealers in the United States.