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They are 5 Digit awesome looking
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I see them asking for $10K for these now, with full set.
How is it possible that a watch model that has been made millions and millions costs that much in the preowned market? For some reason the prices suddenly started to rise... I have no idea why.
I could understand 16600 because it's at least 50 times rarer than a Sub 16610 but why 16710 GMT?
I have one and I'm not selling. And I like the watch but come on... this is not a rare watch.
PS: I asked that in my GMT review 1.5 years ago. Back then they were €6K.
My 16710 review with Belligero
They are 5 Digit awesome looking
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A new model generates the demand for the old model. When the new Daytona came out there was a period where I saw quite a few for sale at £6k (approx). Mike Wood had a black and a white for sale at the time. Then people realised the oldsought after model was now available and if you couldnt get the new one then a good old one would do so now demand starts for the discontinued model. Same with the GMT. people cant get the new ceramic (I noticed Haywood has one today)so demand for the old one increases, same with the Sub. basically market forces but certainly in Rolex terms it certainly works
The bubble this watch is in is bursting at the seems, lol. That said I have seen them dearer.
https://www.watchclub.com/rolex/gmt-...6710-year-2003
Exactly spot on - and I was one that swooped in for Mr Wood's near perfect 116520 white daytona in amongst the rush for the new oneOriginally Posted by mrushton
16600 prices are pretty depressed (relative to say 16610 increases). Decent 14060's seem to get more these days. Guess its just less desirable than the Subs and GMTs, that bit more niche. Good value though compared to those other references.
I think it's nuts.
I was looking a while back for a 16710, but chickened out when I saw them go north of £5k (watch only), and at that time I actually bought an Exp II from a known trader here for under £4k with B&P.
I simply could not understnad why the bezel added over £1000, and I thought it would be a bubble.
Roll on to now, the Exp II price has gone (nearly) nowhere and the 16710 has gained another grand at the very least.
More than £2k difference for a rotating bezel (with colour) 16710 compared to a fixed steel bezel 16570.
It makes no sense whatsoever, and makes me wonder whether I should just customise my 16570 with a rotating bezel........
Dave
I’d like a coke myself but not at the current prices
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At least in Chrono24 they're pretty much equally priced. I'd say you can obtain a 16610 cheaper than the 16600.
14060 is a bit cheaper.
I own them all (16610, 16600 and 16710) and in my opinion the only model that COULD appreciate is the 16600. Well... at least it'd make some sense. Rolex doesn't give any numbers but my uneducated guess is that there are 50 times less Dwellers than Subs... and maybe 20 times less than GMT's. What do you think?
Last edited by JPE; 13th December 2018 at 18:18.
Yes, ExpII 16570 is still relatively cheap watch. Maybe it's the smooth bezel that makes the watch wear a bit smaller. I sold mine because of that. I loved the watch though... white version is a classic.
WF has them between 9k and 13k (£’s not $ OP).
Every collectible commodity will have a bubble one day, old Rolex included.
The advantage or problem with watches, depending on your viewpoint, is that collectors will just hang onto them when prices drop. No one, unless they are desperate or an idiot needs to sell at a loss. Therefore by hanging onto them, it minimises the bubble.
Most watch collectors will just ride the storm, so I would not advise waiting for a bubble.
That's just ridiculous, imho. Not realistic at all.
But then again you can see similar asking prices of almost all 5-digits if you dig them up.
https://www.chrono24.com/rolex/new-s...-id9742895.htm
That is the exact era I was looking for.
Early 2000 transition, with the SELs that have closed backs (and are therefore only suitable for lughole cased watches). £11k. Just. Plain. Silly
At that price, that means I would need to trade in a Sinn EZM1, and my Rolex 16570 and my Zenith De Luca to get that one watch.
No chance
Dave
Totally stupid getting.
Yoda I presume?
Madness, only four years ago the 16710 was sub £4k watch for a full set.
With the emerging markets and desire for this brand I cannot see values falling away any time soon.
Pitch
Glad I purchased my 2006 , 3186,in 2008 for £2950.... saying that , it was about £500 overpriced for it back then
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The 16570 seems like the poor relative, ugly sister type thing.
It always has been but they’re around £4K now. It’s not long ago when you could pick them up for a little over £2k!
I paid £2k for mine. (Jan 16)
In relation to the GMT II and Sub (date and non date) I think the sea dweller 16600 is currently a bargain. They seem to be less money but I would have thought a more desirable watch.
The 16570 Explorer II is the sleeper in my eyes,
Neil
Obviously, now is the best timing to avoid Rolex, try some other brands.
Does the hat have any special significance?
They are 5 Digit awesome looking
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Just when you think they’ve peaked..... Off they go again.
The Rolex ‘Pepsi’ is One of the most famous models from the most famous Watch Brand. Yes they may have produced many, but they are also coveted by many. Supply and demand.
I remember trying a 16520 (Daytona) on Three years ago at a Dealer and struggling to see the Value at £7k !
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No.
It seems however that your latest posts are only trying to promote your website.....
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Well guess what... I think they ARE inflated. That's my opinion. And 16710 price issue has been discussed a LOT lately in the Rolex collectors' forums. I think it's a valid question and very relevant topic right now.
And let me see:
I opened a thread about certain watch (and post a link to my own article as a "backup" to prove that I've done my homework of that model) 1.5 years ago I wrote that 6.000 Euros sounded ridiculous. Now they're asking 10K.
That is 100% non-profit website that has watch articles directed at other watch enthusiasts. I don't quite get it how linking to that kind of stuff could possibly offend anyone in a watch forum.
Or perhaps I'm "promoting" something by saying that the value of my own watch is in a bubble? <shakes head>
Bubble?
Not sure.
I think that they’ll keep rising because they always have done. Not long ago they were much cheaper, as were all Rolexes.
Even our own SC has great examples:-
I personally got a 14060 from SC boxed but no original papers for £2650 in 2014
At the time, dealers were selling the same watch for about £3000.
I don’t see Rolex rising at the same rate as they have over the last 4 years but I still think they’ll rise.
The 16710 is a watch that you can change the look of and it is manufacturer approved to do that (they will do it for you).
Bezel insert: Black, Pepsi, Coke
Bacelet: Oyster, Jubilee
I was speaking to the JLC guy at Harrods about watches and he asked me what would be my one watch and the answer was the 16710 because I could get so many different looks for it. 100m WR, reliable movement and useful complication.
I paid £7500 for mine this time last year. It's a 2007 Z serial with Stick dial. I bought it hoping that I had not hit the crest of the wave as this was pure investment punt...With the added bonus of being something that I could wear....And i'm holding on tight to this rocket ship....Not sure when I am going to let go though....Maybe when I can afford the VC Overseas Chrono that I am hankering after.
Why sell it - wear it and enjoy it.
I guarantee that if you sell it, you will soon be cursing the day that you did so.
By all means sell tat, but keep the good stuff for yourself.
Everything goes up and up, ask you granny about the rural cottage she could have bought in 1960 for 300 quid...in Barley, or similar...
The Rolex is probably overpriced. Like the Cottage in Barley.
this was my first choice 3-4 years ago, but then I thought it was too expensive for a 20 years old watch and my first serious watch. I still believe that.
Classic design and all, but as new SS pepsi will be rolled out, prices will come down. Will take time for sure!
At $10k you almost surely secure a big loss here.
Quoted for posterity!
Yep, like all those mugs who paid over list for Daytona’s, hulks and Batman’s.
Wait until they’re all in shop windows with the ceramic GMT available to buy at list and you’ve blown your money...
Said no-one, ever
I can't quite catch if this was ironic or not?
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Definitely.
I doubt whether anyone here (except possibly Haywood) can name a single sports Rolex which has done anything other than continually rise in value. Or at worst, plateaued before climbing again.
Your assertion that they’ll become readily available at list price is at best optimistic although most likely pure fantasy.
In my experience of taking an interest in watches, the best time to buy a Rolex is always now.
It will take a while, but when they will be out there I don't see old gmts holding up value much. The idea that rolex will always go up in value regardless of the price paid is plain wrong. This is valid for anything, but I guess I am preaching to the wrong crowd.
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Quoting this one for posterity too!
Yeah but to be sure go on and spend 14k on that new gmt before it gets to 20k.
I mean it's rolex duh.
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I’ve no need to, I bought my twenty year old gmt a few years ago for around £3k. I may be struggling but I think I might just get my money back if I had to sell it now. What with them not holding up and everything.
Well done you i guess :)
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I’ve been “seriously” collecting watches since 2005, and Rolex’ have been going up since then. Anecdotally, I can note that before I was collecting, they were going up in value quite significantly.
I wonder if you could pop in the Delorean and get me a copy of the Sports Almanac (or indeed a hover board, or maybe go back to 2005 and get a few Rolex) because the only people predicting SS sports Rolex going down in price or becoming MORE available is either a fool or must own a time machine, because all previous performance points at increases and lack of availability.
With all due respect, and I really do not wish to waste any more time on this, you extrapolating future returns from the past doesn't make you any less fool than me.
Common mistake of enthusiasts is to expect price keep topping up regardless of the price paid. Rolex prices went up since 2005, true for some models. But what was the price then? I don't argue that rolexes are in demand, but that doesn't grant spending too much on them while expecting to keep making money.
Why do I see so many new SS GMT out there at crazy prices? Because people can't afford them? Don't think so. More like the price isn't right and watch buyers are very emotional.
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The thing is that Rolex have been bumping their sales prices up 5-10% twice a year, relentlessly, and the availability of SS Sports models is worse than it has ever been, so demand is even higher.
Whilst past performance is no indicator of the future, this state of affairs is not going to change, because demand still outstrips supply significantly.
And the world is printing more middle-class Rolex wannabes in India, China and everywhere else by the thousand every week.
This isn't going to change.
However, in predicting a crash, you anticipate that it will alll be subject to a massive change, but you make no justification as to why.
And many do not see it like that, the maths doesn't support it.
Dave
99% of buyers are not watch forum enthusiasts, nor have they probably been watching prices since 2005, so they don’t even know that prices have gone up by so much. These buyers will just see a watch they like and buy it if they want it and can afford it. Lots of people on forums say “wow I’d never pay £xxxx for them, they were only £less a few years ago” etc but we are such a small part of the market it’s irrelevant.
Porsche 911 is a good parallel. No longer are the majority of GT3 models purchased for people to drive, do track days etc. they are status and investment purchases.
Example:-
A Porsche 991 911 GT3 RS 4.0 is now selling for double its list price. The halo effect means all 911’s are going crazy.
911 964 for example, You can’t get on “the list” cos they ain’t making any more of them. You either pay the price or don’t buy one. They’re only ever going up in value.
A Rolex GMT ceramic is now selling for double list price. The halo effect means all GMT’s are going crazy.
A non ceramic Rolex GMT is now selling for double it’s “new” price, you can’t get on the list cos they ain’t making any more of them. You either pay the price or don’t buy one. They’re only ever going up in value.
Meet you back here this time next year and i’ll bet 911’s and GMT’s are more expensive than they are today.
I very much doubt the value of Rolex SS model will "burst", but I can see a time when the bubble inflates less slowly. Interest rates increases for example.
However Rolex are smart cookies and being a private company, without shareholders demanding massive "growth" in turnover and profits, can continue to follow its standard operating model it has for the last 80 odd years. The only way this would change would be if Rolex was sold to a 3rd Party, only interested in short term gains or a Doctor Evil type of person, but I cannot see that happening.
So whilst some SS men's Rolex models are stupidly expensive for what they are, a simple fact of life remains that what you spend on one today will be less than if you buy the same watch in 3 years. This applies to new and secondhand watches.
Even if you don't subscribe to this, an alternative way of looking at it is that your SS men's Rolex will actually cost you nothing to own because you will recover all your expenditure when you sell it (assuming of course you do - which is much harder than some people may think).
Whoever does not know how to hit the nail on the head should be asked not to hit it at all.
Friedrich Nietzsche
I look forward to this supposed bubble bursting - Daytona’s, subs and GMT’s at list? Brilliant. Even if my 16710 were to reduce in value I’d be saving c.15k on buying my Pepsi ceramic and Daytona then rather than now. I’ll just wait ... can’t be long to go
If I was so sure of my purchases I would definitely buy more rather than wasting breath trying to persuade a sceptic.
Last edited by ponch10; 18th December 2018 at 12:45.
I agree with you.
Rolex keep increasing the price of their modern models and this has a cascade effect of normalizing the new baseline price upwards.
The limited supply on sports models has driven demand by association to the older sports models.
The burgeoning wealth in newer markets is driving demand too.
I can see prices plateuaing but for them to fall would mean a change in at least two, if not three of the above.
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