I wish I had invested more of my money on pre-owned Rolex when I first began this business. My investment would have already grown by over 40% in the last 4 years. Rolex watches have always been in demand. They are a prestige brand that seems to reflect wealth and success and as such their desirability seems to grow and grow.
There is even a rap group signing about them now and my kids have been singing along to wind me up. I didn’t think they would know what he was singing about but the answer came back….
“Oh yes dad, it’s all about everyone wants to own a Rolex” My twin girls are only 9 and they are indoctrinated already!
It must be catchy though as we do sell a lot of pre-owned Rolex. They are all fully authenticated, fully serviced and with a 2 year warranty. However demand post Brexit has gone mad!
Why? The reason is that the UK Rolex watches now offer better value for money compared to those in the rest of the world due to the exchange rates and that Rolex are about to increase their UK prices again to reduce this difference.
Rolex usually release a new catalogue in September / October and this time last year they took the opportunity to increase the UK prices by around 10%. However Rolex are a worldwide commodity and many of the pre-owned watches stocked by UK jewellers are bought from other European countries or the USA in either euro’s or dollars so the relative price of replacing stock has also increased by at least 10 – 15% over the last year.
Customers don’t want to pay this increase so the pre-owned prices are slow to catch up and the retailer’s margins get tighter until eventually the market adjusts and the prices creep up.
Pre-owned Rolex right now really represent a strong saving on the new RRP. Therefore if you are looking to invest in a Rolex, now would seem a good time and particularly if it is pre-owned as it is unlikely that you will be able to buy the same watch at the current price structure post-Christmas.
Or, if you want to invest in an asset that seems to continue to increase in price, unfailingly, year on year, then why not put your money in to a pre-owned Rolex from Brown and Gold at Seacroft or Christopher Brown Jewellers in Shipley & York and have the pleasure of wearing it while it generates more value!
The pawnbroking arm of the business has remained steady throughout the summer. We expect to see a peak in the late Autumn and at present it’s the ‘back to school’ mums and dads who are topping up their reserves to pay for new school kit and paying off outstanding credit card bills from entertaining their family for the last 8 weeks. We have also had a large number of Asian jewellery loans, mainly to fund the Asian wedding season. Many regular customers borrow large sums against their 21ct and 22ct gold jewellery to fund the generous gifts of cash, gold and lavish celebrations that surround such an event. All loans are 100% confidential and the contract length of up to 7 months allows part payments, giving customers the opportunity to reduce their loan value as, and when, they can afford it.
One regular customer of ours visited again this month and uses our lending service to borrow against his Rolex and get £3000 to fund the cashflow for his business. Rather than go cap in hand to his bank and get charged the usual overdraft fees, he simply drops in his watch and gets a BACS transfer into his account within minutes. Lending against your assets is the obvious way to get a loan and until you visit a pawnbroker and understand how simple and regulated the service actually is, you cannot judge against it.
WISDOM, FAITH AND POWER….
Sapphire is the birthstone for September and what could be better than to treat your loved one to a stunning piece of jewellery to mark the occasion. In fact ancient civilisations believed the world was built on a giant sapphire and it was its reflection that made the sky and sea so blue. Clearly they must have had better summers than we have!
It was believed that the Sapphire brought wisdom, hope and faith and was a symbol of power, strength and wise judgement. You don’t have to spend the earth to afford one though and we have new and exciting range of all coloured stone jewellery at Brown and Gold in Seacroft and Batley and Christopher Brown Jewellers, Shipley and York.
With only 4 months to go, what a perfect way to start your Christmas shopping!