Rolex Submariner valuation?

silverwood

I currently own an Omega Seamaster but I’ve always wanted to own a Rolex Submariner to add to my little collection. A work colleague has managed to source a Batman so he is selling his Submariner which he has owned since new. It’s a 1994 16610 model with box and original papers. Good condition and well cared for/serviced. Could anybody advise me on what would be a fair price to pay? Thanks in advance.

Trigger Happy

Getting valuations on old watchs is always a bit tricky. Because there is no set price they are only really worth what someone is willing to pay at any given time.

Personally I usually just look at sold listings on ebay to give me a steer and then factor in other conditions before deciding what is a reasonable sell/buy price. Recent sold listings below.

https://www.ebay.ie/sch/i.html?_from=R40&_nkw=rolex+submariner+16610&_in_kw=1&_ex_kw=&_sacat=0&LH_Sold=1&_udlo=&_udhi=&_samilow=&_samihi=&_sadis=10&_fpos=&LH_SALE_CURRENCY=0&_sop=12&_dmd=1&_ipg=50&LH_Complete=1

silverwood

OmegaGene wrote: »

I’d be very slow to buy something from a work colleague or friend, you will feel bad haggling the price down and you won’t get a bargain.
I’ve found people looking for a private sale among friends and family having owned the watch from new will want to recoup an unrealistic amount back.

Thanks, I see your point. I’ve worked with this guy for about 15 years but he’s based in Germany so I only actually see him a couple of times a year. Apparently the Rolex AD in Cologne offered him €5k as a trade in. He knows I’m interested in watches and contacted me asking if I’d be interested in making him an offer. I might offer him €5.5k cash and see what he says. I’d be reluctant to pay more.

Eoin

Based on the current market*, it looks like getting it for under 6K with box & papers is not a bad result. Especially if its provenance is well known to you. Here's a chrono24 search for that model with B&P in the EU, in case it helps.

* The current market is a bit nuts though. You'd probably have gotten one of these for under 4K a few years ago.

silverwood

Many thanks for the link. The whole market has gone crazy but I’ve wanted a Sub for longer than I can remember. I might try and take this opportunity now that it has presented itself to me. I’ll be purchasing it to own it and enjoy it so the future value isn’t of primary concern to me, although obviously I would like it to keep as much of its purchase price as possible. Anyway, thanks for your good advice. I’ll keep the thread updated.

silverwood

OmegaGene wrote: »

If €5500 is your max and the trade in was €5k I’d be matching the trade in price first and see what happens, there’s a reason he didn’t trade it in and I doubt it was because he was thinking of you at the time.
There are certain makes and models I’ve wanted for years but you have to think with your head as well as your heart.

That’s solid advice. Thanks.

unkel

OmegaGene wrote: »

If €5500 is your max and the trade in was €5k I’d be matching the trade in price first and see what happens

My first thoughts exactly.

OmegaGene wrote: »

there’s a reason he didn’t trade it in and I doubt it was because he was thinking of you at the time.

You have little faith in humanity! I'd be the very opposite. If a dear work colleague of mine hunkered after my watch, the first thing I would do if I got offered a (below market value) trade in of €5k is to have him get the benefit of that good price. And not the dealer. I won't be any worse off and I would have done my colleague a big favour. Everybody wins.