By: Tom Mulraney

As anyone who has ever owned a Rolex will tell you – be it new or pre-owned – you’re not just buying a fancy looking watch that everybody will recognize. What you’re buying is peace of mind. You know your hard-earned money is being spent on a product that will be accurate, reliable and in style for years to come, decades even.

Some of the more approachable models, like the Rolex Submariner Ref 5513, have been priced around $5,000-$8,000, but you can pay upwards of $100,000 for in-demand classics like the Paul Newman Cosmograph Daytona.

Rolex wasn’t always the giant behemoth of a watch manufacturer it is now. Years ago when some of the most popular models today were first being conceived Rolex was a relatively small, quirky company that played things a little looser than they do now. Not surprisingly this approach made for some great stories, which became an intrinsic part of the brand’s history.

For example, Rolex (and other watchmakers at the time) used to use a radioactive material called Radium to illuminate its dials. This of course was determined to be a bad thing and so the company switched to the much safer Tritium. During this transition phase, one of the way’s Rolex made it easier for Custom’s officials to identify the new dials was to put a small horizontal line on the dial, sometimes below 12 o’clock, sometimes just above 6 o’clock. A minor detail, but these days Rolex watches with original ‘underline’ dials are sought after by collector’s and can dramatically change the price achieved at auction.

Probably the best thing about vintage Rolex though is the fact that there are models to suit just about any budget, whether you’re looking to spend a few thousand dollars or a few hundred thousand. Here’s a few suggestions to help you get started on your collecting journey, recent realized prices from the Invaluable price database.

The Rolex Submariner, Ref. 5513

For many vintage Rolex enthusiasts the Submariner Ref 5513 is the Submariner to have. It’s not the rarest – in fact it is probably one of the longest continually produced series in Rolex’s history, running from 1962 until 1989. However, it epitomizes the classic dive watch. Also, because of its long production life there are a number of variations out there that make hunting for Ref. 5513’s even more fun.

For example two different movements were used in the 5513 over its lifetime – calibers 1520 and 1530 respectively – neither of which were certified chronometers. Likewise some dials feature the water depth rating with meters first, whilst others show feet first. Just one of many little quirks that make these watches so fun. Perfect for first-time buyers you can expect to pay around $5,000 – $8,000 for a good quality Ref 5513 Submariner.

1: Rolex Submariner, Ref. 5513

Switzerland, 1968
Lot 10, Auctionata AG (June 2014)
Estimated Price: €4,800-6,000
Realized Price: €4,500

2: Rolex Submariner, Ref. 5512/5513

Switzerland, 1965
Lot 3, Auctionata AG (September 2014)
Estimated Price: €8,000-10,000
Realized Price: €7,000

3: Rolex Submariner, Ref. 5513

1970
Lot 250, Art de Vivre la Mer (September 2015)
Estimated Price: €35,000-40,000
Realized Price: €30,000

4: Rolex Submariner, Ref. 5513

1963
Lot 419, Antiquourum (May 2015)
Estimated Price: CHF80,000-120,000
Realized Price: CHF94,000

The Rolex Explorer, Ref. 1016

It’s no secret that the humble Rolex Explorer often gets overlooked in favor of the more popular Submariner and the GMT Master, partly due to its smaller diameter of 36mm. As the name suggests, it was originally developed as a “tool” watch for explorers and was actually used by members of the successful 1953 Everest expedition as well as other expeditions before and after. The Ref. 1016 was the most common series made and was in production for over 25 years, again with a number of variations being made throughout that time. They all share the common traits however of being simple, practical and absolutely fit for purpose. Pricing for the Ref. 1016 generally ranges from about $8,000 – $12,000 depending on the condition and year of production.

5: Rolex Oyster Perpetual Explorer, Ref. 1016

1964
Lot 485, Auktionen Dr. Crott (May 2014)
Estimated Price: €5,000-7,000
Realized Price: €4,000

6: Rolex Explorer, Ref. 1016

Switzerland, 1966
Lot 82, Auctionata AG (March 2015)
Estimated Price: €4,000-5,000
Realized Price: €5,500

7: Rolex Explorer, Ref. 1016

Switzerland, 1970
Lot 98, Auctionata AG (September 2014)
Estimated Price: €2,400-3,000
Realized Price: €3,200

8: Rolex Oyster Perpetual Explorer, Ref. 1016

1948
Lot 72, Dreweatts & Bloomsbury (July 2013)
Estimated Price: £2,000-3,000
Realized Price: £5,952

The Rolex Double Red Sea-Dweller, Ref. 1665

The original concept for the Sea Dweller was developed in conjunction with COMEX, a French company specializing in engineering and deep diving operations, back in the 1960s. At the time they needed a diving watch for their professional divers to use whilst working on deep sea oil rigs. To satisfy this need, Rolex modified regular Submariner watches (the ref. 5513 we covered above) to incorporate a helium escape valve, subsequently creating a specific reference just for COMEX (the ref. 5514.)

Following on from the success of this project the decision was made in 1967 to create a new reference fitted with helium escape valves – the Sea Dweller Ref. 1665 – and offer them for commercial sale. These was the first ever Sea Dweller capable of reaching a depth of 2,000ft or 610 meters, a huge deal at the time. To clearly delineate these models Rolex printed two lines of text in red just above 6 o’clock. In larger lettering the first line reads “Sea-Dweller” whilst just below that in slightly smaller lettering the second line reads “Submariner 2000”, hence the “double red” moniker. Considered fairly rare by Vintage Rolex standards plan to pay upwards of $30,000 for a good quality Double Red Sea-Dweller.

9: Rolex Double-Red Sea Dweller, Ref. 1665

1974
Lot 197, Sotheby’s (December 2011)
Estimated Price: $15,000-20,000
Realized Price: $20,000

10: Rolex Double-Red Sea Dweller, Ref. 1665

1977
Lot 328, Christie’s (May 2011)
Estimated Price: CHF15,000-25,000
Realized Price: CHF27,500

11: Rolex Double-Red Sea Dweller, Ref. 1665

1974
Lot 165, Antiquorum (June 2011)
Estimated Price: $18,000-22,000
Realized Price: $22,500

12: Rolex Double-Red Sea Dweller, Ref. 1665

1972
Lot 357, Antiquorum (September 2009)
Estimated Price: $18,000-24,000
Realized Price: $27,600

 

The Rolex GMT-Master, Ref. 1675

Designed for pilots and the jet-set alike the Rolex GMT-Master was the quintessential travel watch. Rugged good looks, practical functionality, COSC-certified movement, this was the watch for people who didn’t just want to keep track of a second time zone, they wanted to look good doing it. Another long-running model, the Ref. 1675 was produced from 1959 to 1980 and again there was a lot of variation during that time. Two different movements – the caliber 1565 and caliber 1575 – different sized GMT hands, the introduction of crown guards, this is a watch with some serious history. Keep an eye out for models with rare gilt dials, not only are these especially beautiful but they also tend to be more valuable. Budget-wise, I would suggest a minimum of $10,000 but expect to pay more for those little extra details

13: Rolex GMT-Master, Ref. 1675

1969
Lot 60216, Heritage Auctions (December 2010)
Estimated Price: $3,000-4,000
Realized Price: $3,884

14: Rolex GMT-Master, Ref. 1675

1966
Lot 6877, Clars Auction Gallery (July 2015)
Estimated Price: $5,000-8,000
Realized Price: $6,500

15: Rolex Gold GMT-Master, Ref. 1675

1971
Lot 60201, Heritage Auctions (November 2014)
Estimated Price: $3,000-4,000
Realized Price: $9,375

16: Rolex GMT-Master, Ref. 1675

1960s
Lot 2629, Koller Auctions (June 2015)
Estimated Price: CHF5,000-7,000
Realized Price: CHF18,000

Rolex Cosmograph Daytona, Ref. 6239, “Paul Newman”

Arguably the most famous of all the Rolex models is the Cosmograph Daytona, the classic sporty chronograph that never goes out of style. Perhaps the only thing better known than the Cosmograph Daytona is the Paul Newman Cosmograph Daytona.

What makes a Paul Newman Daytona a Paul Newman Daytona? Simply put, the dial. In total there are considered to be six different versions of the PN Daytona with the most common being the first version, the Ref. 6239, the model that Newman himself actually wore. Production on this model began in the mid-1960’s and the watch was available with either a black or white dial. That being said, there should be three colors in total on the dial; black, white, and red, and the word “Daytona” should be printed above the register at 6 o’clock. Beware though Paul Newman Daytonas are extremely rare and often referred to as the ‘most-faked Rolex’ on the planet, so it’s important to really do your homework and only buy from trusted sellers, as you will very likely be spending close to six figures, if not more.

17: Rolex Cosmograph Daytona, Ref. 6239, “Paul Newman”

1968
Lot 151, Auktionen Dr. Crott (May 2013)
Estimated Price: €50,000-65,000
Realized Price: €40,000

18: Rolex Cosmograph Daytona, Ref. 6262/6239, “Paul Newman”

1971
Lot 32, Auctionata AG (June 2014)
Estimated Price: €80,000-100,000
Realized Price: €65,000

19: Rolex Cosmograph Daytona, Ref. 6239, “Paul Newman”

1965
Lot 329, Sotheby’s (December 2015)
Estimated Price: $60,000-90,000
Realized Price: $85,000

20: Rolex Cosmograph Daytona, Ref. 6239, “Paul Newman”

1969
Lot 67, Leslie Hindman Auctioneers (April 2015)
Estimated Price: $50,000-70,000
Realized Price: $92,500

21: Rolex Cosmograph Daytona, Ref. 6263, “Paul Newman”

1970
Lot 274, Auktionen Dr. Crott (November 2014)
Estimated Price: €250,000-500,000
Realized Price: €300,000

Looking for more vintage and new examples? Find Rolex watches up for offer in upcoming auctions.

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About Tom Mulraney
Tom Mulraney is the Founder and Editor of The Watch Lounge, a popular online luxury watch publication dedicated to enthusiasts and collectors alike.