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Thread: 1962 vintage Submariner 5512 Gilt PCG lucky pick up.........

  1. #1
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    1962 vintage Submariner 5512 Gilt PCG lucky pick up.........

    I picked this watch up through a friend at an AD. The story goes that an elderly gentleman came into the AD looking to trade his old watch for a newer model (Submariner). This watch was the result of the said trade. I don’t know what deal was made, but whatever deal was made he must have been satisfied, as a deal was made.
    Within seconds of seeing the filthy old watch (gilt exclamation dial with silver print, original chamfers and original tight rivet 7206 etc). I asked the price and went away smiling. Since then a service has taken place and I have replaced the bezel insert with a correct mark two long 5 and have sourced the correct 700 twin lock crown and tube for fitting (which I hope Simón Freese will be fitting in the near future). After that the watch will be as close to stock as I can hope for. Original 62 7206/80 rivet etc. The only bad is the small amount of hand drag on the dial which has remove a little of the applied silver print and non gilt tritium hands.





    cannon name meaning

    Last edited by milwatch126; 18th April 2020 at 11:08.

  2. #2
    Master
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    Ooh that’s a bit of loveliness right there, 7206 bracelet just to finish it off.

  3. #3
    Grand Master learningtofly's Avatar
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    My god - what an absolute beauty that is!!!

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    I hope the original owner was not disadvantaged ......... read, ripped off. Enjoy your new acquisition in any event.
    Last edited by Skyman; 17th April 2020 at 18:47.

  5. #5
    Phowah! Beauty that..

  6. #6
    Grand Master Wallasey Runner's Avatar
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    Bloody hell - an absolute belter of a watch. I agree with Simon, hope the original owner got a decent price.

  7. #7
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    Yep, it’s got to be pushing 30k, the only worry would be if it’s radium!

  8. #8
    Grand Master wileeeeeey's Avatar
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    Beautiful, and just after the 5513 thread Tony made whet our appetites for some vintage Submariners. I too hope the original owner was given a fair price for his watch.

  9. #9
    Absolutely stunning, great find. Glad it's gone to a good home 👍

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    Diamond encrusted shitjust? Certainly sir, and how does sir wish to pay the balance after his trade in? I can just see the stitch up now.

    - - - Updated - - -

    Quote Originally Posted by Bluebird84 View Post
    Absolutely stunning, great find. Glad it's gone to a good home 
    Say what?

  11. #11
    Grand Master Andyg's Avatar
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    Lovely watch. Just make sure you get the correct end links when you source the replacement strap.

    Whoever does not know how to hit the nail on the head should be asked not to hit it at all.
    Friedrich Nietzsche


  12. #12
    Absolute beauty. Congratulations 👍

  13. #13
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    Can't say I'm not just a big bit jealous of that.
    Well done and I'm not sure the old gent maybe got it's true value by the sounds of things but he probably walked away happy enough.

  14. #14
    Craftsman
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    Such a nice watch. Well done.

    Sent from my SM-G975F using Tapatalk

  15. #15
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    Quote Originally Posted by Andyg View Post
    Lovely watch. Just make sure you get the correct end links when you source the replacement strap.
    It came with its original Swiss 7206/80, 3/62 Clasp. I have no idea what deal was struck between the AD and gent. I inquired where the watch came from and that was the story I was told (first owner stuff etc?). I do not even know if it’s true. It’s taken me two years to get to this stage and will be a bit longer before the crown and tube are fitted.

    Few more pictures.

    Chamfers old crystal and bezel insert.










    chase bank or atm

    posted image



    After the vintage dome and bezel installation.



    .

    madison paige heavy rain

    M
    Last edited by milwatch126; 18th April 2020 at 14:17.

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    Master murkeywaters's Avatar
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    1962 vintage Submariner 5512 Gilt PCG pick up.........

    That’s an epic find through an AD, as long as the original owner is happy but we do wonder if he really knew what he had, I take it he traded it for a maxi case sub which seems criminal to me..

    I bet if he asked to buy a new Sub cash the AD would have laughed him onto the “list”, instead he mentions about trading his old Rolex and miraculously a new Sub appears from the safe Da Daa!!

  17. #17
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    Times, availability (sports models in the window) and values of new of Rolex have changed since a few years ago when I was lucky enough to pick the watch from the AD. Stuff you only dream off on Ebay or going through a thrift shops I guess on my part? As, for the old gent story I will never know the answers to your questions, that would be one for the AD. I don’t even know if the story was true?
    This raises the question however, when buying second hand goods from a shop or dealer should one be interested in the previous owner or the profit involved and ask questions? The AD is a very well respected family run establishment I doubt they would ever knowingly rip someone off.

    What I can say is that the AD did not know what they had :-) and I will leave it at that.

    M
    Last edited by milwatch126; 18th April 2020 at 16:34.

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    Ah well, one old boys loss is your gain.

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    Quote Originally Posted by seadog1408 View Post
    Ah well, one old boys loss is your gain.
    Rumour has it that it was Capt. Tom.

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    Grand Master Neil.C's Avatar
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    Quote Originally Posted by seadog1408 View Post
    Ah well, one old boys loss is your gain.
    It's a horrible thought isn't it?
    Cheers,
    Neil.

  21. #21
    Amazing watch.
    Andy

    Wanted - Damasko DC57

  22. #22
    Grand Master Andyg's Avatar
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    Quote Originally Posted by milwatch126 View Post
    It came with its original Swiss 7206/80, 3/62 Clasp. I have no idea what deal was struck between the AD and gent. I inquired where the watch came from and that was the story I was told (first owner stuff etc?). I do not even know if it’s true. It’s taken me two years to get to this stage and will be a bit longer before the crown and tube are fitted.

    Few more pictures.

    Chamfers old crystal and bezel insert.










    chase bank or atm

    posted image



    After the vintage dome and bezel installation.



    .

    madison paige heavy rain

    M
    Nailed it . I must say the old folded strap on my meters first (69) is one of the most comfortable strap I have worn.

    Whoever does not know how to hit the nail on the head should be asked not to hit it at all.
    Friedrich Nietzsche


  23. #23
    Grand Master MartynJC (UK)'s Avatar
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    Blo**dy hell

  24. #24
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    Quote Originally Posted by Neil.C View Post
    It's a horrible thought isn't it?
    Was thinking the same from the very start of this thread.

  25. #25
    Epic find, like others, mixed feelings on an emotional front.

  26. #26
    Grand Master number2's Avatar
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    OP, what did you give for it?
    "Once is happenstance. Twice is coincidence. The third time it's enemy action."

    'Populism, the last refuge of a Tory scoundrel'.

  27. #27
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    You've never met the original owner so I don't understand how you can feel guilty.

    Half the forum is interested in watches as investments, bargain finds etc and you find some one and everyone is worried someone got fiddled. Every time there's a bargain someone isn't getting what they should, otherwise it's not a bargain!

    It would be different if you me the old guy and took advantage by being disingenuous.

  28. #28
    Quote Originally Posted by Rodder View Post
    You've never met the original owner so I don't understand how you can feel guilty.

    Half the forum is interested in watches as investments, bargain finds etc and you find some one and everyone is worried someone got fiddled. Every time there's a bargain someone isn't getting what they should, otherwise it's not a bargain!

    It would be different if you me the old guy and took advantage by being disingenuous.
    Agree 100%.

  29. #29
    Master murkeywaters's Avatar
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    Quote Originally Posted by Rodder View Post
    You've never met the original owner so I don't understand how you can feel guilty.

    Half the forum is interested in watches as investments, bargain finds etc and you find some one and everyone is worried someone got fiddled. Every time there's a bargain someone isn't getting what they should, otherwise it's not a bargain!

    It would be different if you me the old guy and took advantage by being disingenuous.
    I agree, to be fair he would probably be happy it’s gone to a good home of someone who collects and not just sold on for profit, sounds like the AD got it wrong price wise!

    I posted here last year about a 105.003-64 Ed White Speedmaster I bought at auction, no one bid so a private deal was agreed between the auctioneer and myself, it was a complete bargain, did I feel guilty - no, previous owner knew what he had as he compiled a folder of its originality and must have gave the auction house a minimum sell price.

    A lot of “bargains” simply come down to the buyers knowledge, if you’ve studied, researched and have a passion for something is it for you the buyer to tell the seller what they have??
    It’s questionable, if your at a car boot and an old lady is selling a Newman Daytona the right thing to do is tell her it’s worth £200k but how many here would do that, I think I would but when your on the spot you have to make a quick choice and question yourself after, an AD or auction house on the other hand should know better..

  30. #30
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    Quote Originally Posted by murkeywaters View Post
    I agree, to be fair he would probably be happy it’s gone to a good home of someone who collects and not just sold on for profit, sounds like the AD got it wrong price wise!

    I posted here last year about a 105.003-64 Ed White Speedmaster I bought at auction, no one bid so a private deal was agreed between the auctioneer and myself, it was a complete bargain, did I feel guilty - no, previous owner knew what he had as he compiled a folder of its originality and must have gave the auction house a minimum sell price.

    A lot of “bargains” simply come down to the buyers knowledge, if you’ve studied, researched and have a passion for something is it for you the buyer to tell the seller what they have??
    It’s questionable, if your at a car boot and an old lady is selling a Newman Daytona the right thing to do is tell her it’s worth £200k but how many here would do that, I think I would but when your on the spot you have to make a quick choice and question yourself after, an AD or auction house on the other hand should know better..
    I am sorry to state the obvious but you didn’t with the auctioneer which in turn saw the seller worse off...
    So what makes you think that you wouldn’t have gone for the cheap Paul Newman as well ?


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  31. #31
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    1962 vintage Submariner 5512 Gilt PCG lucky pick up.........

    Quote Originally Posted by Ar.parask View Post
    I am sorry to state the obvious but you didn’t with the auctioneer which in turn saw the seller worse off...
    So what makes you think that you wouldn’t have gone for the cheap Paul Newman as well ?


    Sent from my iPhone using Tapatalk
    Why do you think people traipse around the country waking up at 5.00 on Sundays. May it be to find a bargain?

    Remember that Love Joy, everyone thought he was a right p****

  32. #32
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    Quote Originally Posted by Rodder View Post
    Why do you think people traipse around the country waking up at 5.00 on Sundays. May it be to find a bargain?

    Remember that Love Joy, everyone thought he was a right p****
    Which is exactly my point. It is easy to say that you would have performed a noble act in a hypothetical situation. It becomes a bit more hairy when in a similar actual situation the same person has behaved in a slightly different manner..


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  33. #33
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    Quote Originally Posted by Ar.parask View Post
    Which is exactly my point. It is easy to say that you would have performed a noble act in a hypothetical situation. It becomes a bit more hairy when in a similar actual situation the same person has behaved in a slightly different manner..


    Sent from my iPhone using Tapatalk
    Fair enough, but I’d argue for most car booters the decision would have been made before they even arrived, so there’s no decision when they’re actually buying. Without the potential of a bargain there’s not much point going to a car boot! It seems everyone’s ok with that, even the sellers!

  34. #34
    Grand Master Andyg's Avatar
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    Quote Originally Posted by Rodder View Post
    Why do you think people traipse around the country waking up at 5.00 on Sundays. May it be to find a bargain?

    Remember that Love Joy, everyone thought he was a right p****
    Agreed, plus why many people frequent Charity Shops in search of the same bargain. Lots of people looking to be the next Bargain Hunter or an American Picker. It’s also odd how many folks turn up on Antiques Road show with their 50p bargain from a charity shop/car boot only to find its worth £Ks and everyone is happy about it.

    Unless a buyer deliberately misdescribes the item in order to con the seller, then no harm no foul. I wonder what the reaction would be if the OP had bought the watch (at a fair price) only to find out that the nice old “original” owner, had in fact stole it the week before, the dial was a reprint, the hands fake and the case replacement and it was worth less than they paid.

    To many people being to judgemental.

    Whoever does not know how to hit the nail on the head should be asked not to hit it at all.
    Friedrich Nietzsche


  35. #35
    Master murkeywaters's Avatar
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    Quote Originally Posted by Ar.parask View Post
    I am sorry to state the obvious but you didn’t with the auctioneer which in turn saw the seller worse off...
    So what makes you think that you wouldn’t have gone for the cheap Paul Newman as well ?


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    Rubbish, an auctioneer is there to operate for the seller, they talk and agree on a minimum sale price and that is set, if you get 2 bidders driving up the minimum guide price to double/triple you dont see the seller or auction house feeling sorry for the buyer do you.

    By the way, the auctioneer said I got a bargain Ed White, he had a Moonwatch Only book on his book shelf in the office so he knew what he was selling and would have made the seller aware of its rarity so no one had the wool pulled over their eyes, it was a simple fact of seller and auction house wanted that watch sold, he offered it to me for a bargain price and my money was the only money on the table.

    The Newman Daytona scenario is completely different, I was inferring it was an old lady with no knowledge of what she had so someone with knowledge should help in that situation rather than take advantage.
    Last edited by murkeywaters; 25th April 2020 at 09:47.

  36. #36
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    Quote Originally Posted by murkeywaters View Post
    Rubbish, an auctioneer is there to operate for the seller, they talk and agree on a minimum sale price and that is set, if you get 2 bidders driving up the minimum guide price to double/triple you dont see the seller or auction house feeling sorry for the buyer do you.

    By the way, the auctioneer said I got a bargain Ed White, he had a Moonwatch Only book on his book shelf in the office so he knew what he was selling and would have made the seller aware of its rarity so no one had the wool pulled over their eyes, it was a simple fact of seller and auction house wanted that watch sold, he offered it to me for a bargain price and my money was the only money on the table.

    The Newman Daytona scenario is completely different, I was inferring it was an old lady with no knowledge of what she had so someone with knowledge should help in that situation rather than take advantage.
    The way you even start your response says it all. You can find a million ways to justify the way you acted. It doesn’t mean it was the right the right thing. You took advantage of a situation and it worked for you. Congrats. Don’t pretend by saying you would have acted differently in another situation...


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  37. #37
    Master bobbee's Avatar
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    This beautiful old watch was bought from an AD.
    The original owner was happy with what he received from the AD.
    The AD had no idea what they had received from the original owner.
    OP knew what he had bought from the AD, everyone happy all round.

    So why the angst?

  38. #38
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    Quote Originally Posted by Ar.parask View Post
    The way you even start your response says it all. You can find a million ways to justify the way you acted. It doesn’t mean it was the right the right thing. You took advantage of a situation and it worked for you. Congrats. Don’t pretend by saying you would have acted differently in another situation...


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    I really don’t get this. The buyer knew what he had, was offered an amount and chose to accept it. What on earth makes you think he didn’t have the capacity to make a decision that benefits him the most. Your view flies in just about any decision making theory, whether that be economic, psychological etc

  39. #39
    Grand Master learningtofly's Avatar
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    Very strange thread indeed, all the more so for the fact that i agree with AndyG

  40. #40
    Master murkeywaters's Avatar
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    Quote Originally Posted by Ar.parask View Post
    The way you even start your response says it all. You can find a million ways to justify the way you acted. It doesn’t mean it was the right the right thing. You took advantage of a situation and it worked for you. Congrats. Don’t pretend by saying you would have acted differently in another situation...


    Sent from my iPhone using Tapatalk
    What is your problem?? Your acting like I have robbed and old lady or is there a jealousy element to people buying bargain watches? I bought a watch though an established business, there is another thread on Watch Talk about reporting eBay scams to stop people getting turned over, who started that thread - me!

  41. #41
    Master bobbee's Avatar
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    Quote Originally Posted by learningtofly View Post
    Very strange thread indeed, all the more so for the fact that i agree with AndyG
    Same here, but he knows his Rolex!

  42. #42
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    Quote Originally Posted by murkeywaters View Post
    What is your problem?? Your acting like I have robbed and old lady or is there a jealousy element to people buying bargain watches? I bought a watch though an established business, there is another thread on Watch Talk about reporting eBay scams to stop people getting turned over, who started that thread - me!
    Not a problem at all. It is a free market and a bargain is a bargain. It would be very difficult to walk away from something like that. I have seen your Ed and it’s amazing. Wear it in good health.
    Where I wanted to get at is that sometimes an opportunity presents itself and it is simply too hard to walk away. Live with it and don’t sugar plate it!


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  43. #43
    Grand Master Onelasttime's Avatar
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    Quote Originally Posted by bobbee View Post
    This beautiful old watch was bought from an AD.
    The original owner was happy with what he received from the AD.
    The AD had no idea what they had received from the original owner.
    OP knew what he had bought from the AD, everyone happy all round.

    So why the angst?
    I think the hand wringing is down to the perception that the AD wasn't entirely truthful with the old fella. However, the OP's description makes it sound like he got a bargain, which would indicate that the AD was a bit clueless. I know they sometimes appear to not know their arse from their elbow, but would they really be that clueless when trading against a brand new Sub?

    Until we know what the OP paid, and what the AD gave the old fella in the deal, it doesn't feel right.

  44. #44
    Quote Originally Posted by Rodder View Post
    You've never met the original owner so I don't understand how you can feel guilty.

    Half the forum is interested in watches as investments, bargain finds etc and you find some one and everyone is worried someone got fiddled. Every time there's a bargain someone isn't getting what they should, otherwise it's not a bargain!

    It would be different if you me the old guy and took advantage by being disingenuous.
    Agreed. I say well played and good luck to the new owner. It's obviously bringing him a lot of happiness.
    I'd guess more happiness than it gave the old owner, seeing as he wanted to get rid of it.

  45. #45
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    Didn’t someone on here pick up a genuine GMT at a car boot for peanuts?

  46. #46
    "The world is a magical place full of people waiting to be offended by something".

  47. #47
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    Can we all just appreciate a beautiful watch and congratulate a lucky owner, no way would I fleece anybody and Ime struggling to see what the OP has done wrong. This place is getting more like mums net every day, or so a friend told me.

  48. #48
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    Quote Originally Posted by bobbee View Post
    This beautiful old watch was bought from an AD.
    The original owner was happy with what he received from the AD.
    The AD had no idea what they had received from the original owner.
    OP knew what he had bought from the AD, everyone happy all round.

    So why the angst?
    Faux indignation - lots of it around.

  49. #49
    Grand Master number2's Avatar
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    So everyone agrees that a Rolex AD didn't know what this old Rolex was worth and as such passed on a bargain -
    "Once is happenstance. Twice is coincidence. The third time it's enemy action."

    'Populism, the last refuge of a Tory scoundrel'.

  50. #50
    Grand Master Der Amf's Avatar
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    Quote Originally Posted by Onelasttime View Post
    I think the hand wringing is down to the perception that the AD wasn't entirely truthful with the old fella. However, the OP's description makes it sound like he got a bargain, which would indicate that the AD was a bit clueless. I know they sometimes appear to not know their arse from their elbow, but would they really be that clueless when trading against a brand new Sub?

    Until we know what the OP paid, and what the AD gave the old fella in the deal, it doesn't feel right.
    Quote Originally Posted by number2 View Post
    So everyone agrees that a Rolex AD didn't know what this old Rolex was worth and as such passed on a bargain -
    I'm glad the beating around the bush has come to an end and people are straightforwardly accusing the OP of being a liar. These newbies of only...

    *checks OP's records*

    ...these newbies of only 17 and a half years standing need to know their place!

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