I had to sell mine, had a business and went bust, Rolex or Patek Phillippe had to go so tossed a coin and the Rolex lost. I was gutted the day it went. Times have vastly improved and the Phillippe is under lock and key for the children to argue over after I'm gone but don't sell the Rolex unless its for a really good reason. If its a good solid reason then sell it on and enjoy your new purchase, if its just to raise a few bob then don't.
Someone mentioned a Seiko watch, great they are too, more than likely the electronic mechanism keeps better time but it will lack the soul of the Rolex (which for all intent and purpose will keep time just fine).
Think long and hard about selling it, would it not be nice for the children to find it in years to come and all being well share with the grand children? A Seiko watch won't be around then.