Rolex fever hits Malaga with two-year-long waiting lists

Rolex fever hits Malaga with two-year-long waiting lists


Throughout the province there are thousands of jewellers and watchmakers, but only two official dealers who sell the famous Swiss watches

Matías Stuber


Friday, 24 February 2023, 17:39


The actor Robert Redford is one of the best known names among the legion of fans who own a Rolex. He always wears ones of these elegant and exclusive luxury watches crafted by the Swiss manufacturer.

One of the most sought-after models is the Rolex Submariner, which has been part of the company's portfolio since 1954. Robert Redford himself is partly to blame for this. He has worn a Submariner ever since he appeared with it in the legendary film The Candidate.

But getting one's hands on a Rolex is impossible as local hotelier Antonio Díaz discovered. He wanted to buy a Submariner to celebrate his retirement – the diver's watch among diver's watches which retails at between 11,000 and 14,000 euros. The waiting list for such a watch ranges from six months to two years. And not just in Malaga, the shortage is a worldwide phenomenon.

The Swiss manufacturer applies strict selection criteria for its dealers. Proof of this is that throughout Malaga province there are thousands of jewellers and watchmakers, but only two official dealers who sell Rolex watches. One is in Malaga city on Calle Larios, the other, in the heart of the Golden Mile in Puerto Banús.

There are several reasons for the current high demand for Rolex watches. The main one is that it is an excellent investment a market insider told SUR. «If you are thinking of making a reliable contribution to your pension plan, the possibility of getting a Rolex comes into play,» he said.

Rolex sells watches. But it also sells the idea of what real luxury means to a wealthy clientele. During the pandemic, demand for a watch from the Swiss manufacturer reached unprecedented levels: a Daytona, one of Rolex's most iconic models, fetched 40,000 euros on the second-hand market. The second-hand market price has since dropped to around 26,000 euros. The starting retail price is from around 14,000 euros.

Rafael Romero, director of Abante investment group in Malaga, said buying a Rolex watch with a view to making money was not for everyone.

«If you get a specific model right, it can have a high revaluation. But this is something that happens with other types of jewellery and also with art. And it is true that the figure of the financial collector does exist. Large estates will always have their sights set on diversification, understanding that what they acquire may be worth more over time,» Romero said.

However, for savings of between 10,000 and 20,000 euros, Romero believes that there are better investment alternatives. «With small assets, logic says that the most sensible thing to do is to have an investment fund that diversifies across a multitude of asset classes,» he said.

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