The secondary market for luxury watches is stronger than ever, and the Rolex brand enjoys iconic stature. If you’re ready to sell your pre-owned Submariner, for instance, you’re in luck.

Rolexes of all models are constantly in high demand, and their value generally increases over time. These luxe timepieces offer a wide collection of styles and preferences for watch enthusiasts. Before you leap to sell your Rolex, consider these five tips for ensuring a smooth and simple transaction.

1. Keep the Original Documents and Box for Verification

Known as “proof of authenticity,” the original document and box serve as verification that your Rolex is authentic. These two items can have an impact on your Rolex’s resale value. So, having the authentic paperwork and box is an asset to potential buyers and can help you, as the seller, get top dollar for your timepiece.

Some watch collectors will not invest in purchasing a previously owned Rolex without the original documents and box. In addition, the warranty card that comes with the paperwork is a selling point because it provides the date and location where you purchased the watch.

2. How Much Is Your Rolex Worth?

This is the big question that most individuals have when they consider selling their watches. If you’ve held on to your watch’s original receipt of purchase, this can show proof of its value. A watch buyer won’t be able to get away with offering you a lowball price. Also, if you have service history receipts that you can present, this is a plus. These records will prove that your Rolex has been well-maintained.

Rolexes are in a league of their own, so this is another advantage when you’re looking to sell your watch. The brand is admired for its incredible craftsmanship, high quality, and superb design. A pre-owned Rolex has excellent stability of value.

The resale marketplace is on fire for luxury watches, according to the statistics. The experts say that if you had bought a Rolex 10 years ago, you would have seen a better return on your investment than if you had put the amount you paid into stocks or gold. Inflation is also continuing to drive up demand and prices.

3. Find the Reference Number

Another important tip to know before selling your Rolex comes down to your watch’s reference number, also called the model number. This is especially important if you can’t find the original receipt. On Rolex, it’s a four- to six-digit number engraved on the side of the case that holds significant information. You can locate the reference number by removing the watch band. This number can help you determine the timepiece’s value as you do your research.

For instance, the first digits tell you the model of the Rolex or what collection it comes from. If you look at Rolex’s Day Date models, the first digits begin with 182. The next digit describes the bezel type, such as engraved (2), fluted (3), rotatable (6), etc.

There’s also a number that describes the type of material used to make your Rolex. For example, the digit “6” would stand for platinum. As you can see, the reference number reveals quite a profile about the watch you own, and discerning collectors will use it to verify that the watch you’re selling matches its description.

4. Understand Market Value vs. Retail Value

Retail prices versus market value prices for luxury watches such as the lovely Rolex Lady Datejust will differ. You may have heard about the Rolex waiting list. It is very real, and you may be surprised about the patience you’ll need.

For instance, if you’re on the hunt for a brand-new Rolex, you could be waiting for at least two years and sometimes much more. A lot depends on the number of watches being produced because Rolex doesn’t believe in “en masse.”

That creates supply and demand, and often, the secondary market for Rolex watches does robust business. If you are selling your Rolex to a jeweler or luxe watch dealer, they will offer you less cash than they plan to resell it for.

The average MSRP, or manufacturer’s suggested retail price, for a Rolex is typically between $7,000 and $12,000. You could get less or more than the MSRP depending on the Rolex model and its unique features. The popular Submariner was first launched in 1953, and this beautiful diving watch has continued to be popular generation after generation. This Rolex timepiece can be found in a variety of bezel and dial color options along with your choice of case and bracelet materials.

5. Determine the Watch’s Overall Condition

Just like an expensi ve, treasured piece of jewelry, how your watch appears can affect its selling price. If you have hardly worn your Rolex and want to sell it, you would probably get a lot of money. The same could be said of a Rolex that has been worn daily and perfectly maintained. Also, the original dial and watch band would get you more cash.

Always Choose a Reputable Dealer or Jeweler

Maybe you’re ready to upgrade to a fancier Rolex and would like to sell the one you have. Whatever you do, take your time, and follow the tips outlined above. Choose a reputable dealer who understands the true value of luxury timepieces. A Rolex is an investment; go for the best yield.