How the Canadian Dollar Drop is Affecting the Pre-Owned Watch Market

If you’ve been watching the luxury watch market lately, you’ve probably noticed a shift. With the Canadian dollar weakening against major currencies like the U.S. dollar and the Euro, buying a new Rolex from international markets has become significantly more expensive, and a lot more people are diverting to trading in their Rolex. This has led to an increased demand for pre-owned Rolex watches in Canada, making it a prime time for anyone considering a Rolex trade-in.

At Toronto Watch Exchange, we’ve seen firsthand how this shift is affecting buyers and sellers alike. Whether you’re looking to sell your Rolex or trade it in for a different model, the current market conditions present an opportunity that may not last forever.

How Our Weak Canadian Dollar is Changing the Watch Market

Luxury watches are often priced based on global market trends, with Rolex being one of the most sought-after brands worldwide. Since Rolex prices are tied to the U.S. dollar, a weaker Canadian dollar means:

  • New Rolex prices are rising – Imported watches are more expensive due to unfavorable exchange rates.
  • More buyers are turning to the pre-owned market – To avoid inflated new Rolex prices, many are opting for pre-owned models, increasing demand in Canada.
  • Trade-in values are at an all-time high – The surge in demand for pre-owned Rolex watches means sellers and those looking to trade in their watches are getting better offers than before.

pre owned rolex trading value

Is Now the Right Time to Trading in A Rolex?

If you own a Rolex and have been thinking about upgrading or selling, this might be one of the best times to do so.

  1. Higher Market Demand – More buyers in Canada are looking for Rolex watches, meaning pre-owned pieces are moving quickly.
  2. Better Trade-In Values – With rising demand, Rolex owners are getting stronger offers for their watches than they were even six months ago.
  3. Avoid Overpaying for a New Rolex – Instead of buying a brand-new Rolex at an inflated price, trading in your current watch allows you to upgrade without additional financial strain.

 


The Rolex Models That Are Gaining the Most Value

Not all Rolex models appreciate at the same rate. Here are some of the most in-demand models right now:

  • Why should you trade in a Rolex Submariner? A timeless classic that always holds value, with demand continuing to rise.
  • Selling a pre-owned Rolex Daytona – Limited availability and high desirability make this model a top performer in the pre-owned market.
  • Rolex GMT-Master II has strong resale – A favorite for collectors, often commanding strong resale values.
  • Trading in a Rolex Datejust? A versatile option that appeals to a wide range of buyers.

A Real-Life Situation: The Rolex Trade-In Conundrum

Let’s set a scenario. You purchased a Rolex Submariner several years back. The price was stable then, and you weren’t considering selling. Now, lets pan to now, and you observe two things:

  • The cost of a new Submariner has skyrocketed, making it less easy to rationalize purchasing a new one.
  • The cost of pre-owned Rolex watches has skyrocketed, so yours is more valuable than ever.
You now have a decision to make. Do you keep your watch, hoping for an even stronger market? Or do you trade it now, getting a strong price while the market is on fire?
 
This is the exact situation many Rolex owners find themselves in today. Some are making the jump, and others are holding out, wondering if prices will increase even further. The reality? There is no guarantee the market will stay this way. Timing a trade-in is a lot like catching the perfect wave, you don’t want to wait too long and lose it.

trading in rolex market shift

The Emotional Side of Trading in a Rolex

Let’s be honest, selling or trading in a Rolex isn’t just a transaction. There’s often an emotional attachment. Maybe it was your first luxury watch, a gift, or something you worked hard to afford.

  • Trading it in doesn’t mean losing that history, it means evolving your collection. Think of it as an upgrade, not a goodbye. Just like upgrading your car or moving into a better home, trading in a Rolex is about progress.
  • The best part? You’re not starting over; you’re moving forward. A trade-in allows you to experience something new, whether it’s a different model, a rare piece you’ve always wanted, or simply a better investment.

At the end of the day, watches are meant to be worn, enjoyed, and appreciated. If you’re no longer wearing yours or want something fresh, trading in could be the best decision, not just financially, but for your watch-collecting journey.

Key Considerations When Trading in a Rolex

1. Why the Pre-Owned Rolex Market is Surging

With new Rolex prices skyrocketing, Canadian buyers are more inclined to purchase pre-owned. This shift is boosting the value of second-hand watches, making it a seller’s market. If you’ve been holding onto a Rolex with the idea of trading it in later, that “later” might be now.

2. How to Get the Best Trade-In Offer

Not all trade-in offers are equal. To maximize your Rolex’s value:

  • Keep it in excellent condition (servicing and polishing can help).
  • Retain the original box and paperwork, which can increase its value.
  • Work with a trusted buyer to ensure you’re getting an accurate market value.

3. The Advantage of Trading in Rolex Over Selling

If you’re debating between selling and trading, here’s what you need to consider:

  • Selling gives you cash in hand, but you may end up paying more for a new watch later.
  • Trading allows you to upgrade without taking on the full cost of a brand-new Rolex.
  • The market for pre-owned Rolexes is booming right now, meaning trade-in values are stronger than usual.

luxury watch market trends

How the Weak Canadian Dollar is Affecting Buyers and Sellers

Factor Impact on Buyers Impact on Sellers
New Rolex Prices Increasing due to currency fluctuations, making pre-owned a more attractive option. More people are choosing to buy pre-owned, increasing demand.
Pre-Owned Rolex Demand Higher than ever, with buyers looking for local deals to avoid high import costs. Trade-in and resale values have risen as demand for pre-owned watches grows.
Market Conditions Buying internationally is becoming less appealing due to unfavorable exchange rates. Sellers can take advantage of higher trade-in values and faster sales.
Future Predictions Prices may continue to rise, making now a smarter time to buy or trade. The seller’s market is strong, but it’s uncertain how long this trend will last.

Take Advantage of the Market Shift By Trading

If you own a Rolex and have been considering a trade-in, now is the time to act. The combination of a weaker Canadian dollar, increased demand for pre-owned watches, and rising new watch prices means you’re in a strong position to trade or sell at a great value.

At Toronto Watch Exchange, we offer expert evaluations and competitive trade-in offers for your Rolex. Whether you’re looking to upgrade or cash out your Rolex, we ensure you get the best value for your timepiece.

Don’t wait until the market shifts, contact us today and take advantage of the strongest pre-owned Rolex market we’ve seen in years.