Buying a Rolex or Chronosport

[Mad Kudu Buck]

A nice thing is that some of these old military guys who had these issued or picked them up back in the day now have a nest egg they didn't realize they had. Love this GMT Master clip: https://www.youtube.com/watch?v=olawVhNhJqw

I saw that video yesterday. I wish everything I owned appreciated in value that much.

I would never want to buy a Rolex online though - too many fakes. Even if it's a real Rolex, it could have been taken apart and fixed with fake or incorrect replacement parts. Rolex fakes are getting much harder to spot too: https://www.youtube.com/watch?v=P_ZTqC2Yxxs

[ConchRepublican]

That's a nice looking watch!

I can't see dropping that much on a Rolex, there are just so many better things I can see doing with that kind of cash . . . like actually visiting Hawaii and making memories.

I totally hear what you're saying The one thing that makes buying a vintage Rolex, however, is that unlike most watches you'll ever buy, its value will actually increase as you own it. That why a lot of guys have a bunch of them, rather than having their money locked up in investments (good tax incentive too!). Of course, you run the risk of damaging it or getting it stolen...but the market for vintage Rolex watches (like Magnum's) is huge, with high demand. If you had bought the exact early 80s version of Mag's GMT Master back around 2010, you cold probably sell it today for double what you paid.

A nice thing is that some of these old military guys who had these issued or picked them up back in the day now have a nest egg they didn't realize they had. Love this GMT Master clip: https://www.youtube.com/watch?v=olawVhNhJqw

That's a great video! Good for that man.

That investment aspect is interesting, I didn't think there'd be that much of an increase in 7 years . . .

[Styles Bitchley]

That's a great video! Good for that man.

That investment aspect is interesting, I didn't think there'd be that much of an increase in 7 years . . .

Not with all of them, but it does seem that the Rolex sport watches in particular (GMT, Submariner, Seadweller) and the Daytona chronograph have surged...being in NYC, you may have seen the kerfuffle last week when Paul Newman's 1968 Daytona sold at auction for the most a watch has ever sold for: https://www.forbes.com/sites/hylabauer/ ... 38d1c85313

It may even push these watch prices higher.

[KENJI]

Speaking of a good investment........Check out Paul Newman's Rolex and what it went for at auction!

https://www.nytimes.com/2017/10/27/arts ... ytona.html

[eagle]

That's a great video! Good for that man.

Yeah, no kidding - wow!

That investment aspect is interesting, I didn't think there'd be that much of an increase in 7 years . . .

Not with all of them, but it does seem that the Rolex sport watches in particular (GMT, Submariner, Seadweller) and the Daytona chronograph have surged...

Yeah, I have wanted a Daytona for 20+ years, and while my income has gone up, the increases in Daytona prices have far outpaced my increases in income.

I'm sure I like the same ones everybody else does: Daytona, Sea-Dweller, Submariner, Yacht-Master, GMT-Master, Explorer.

For now I buy Swatch chronographs, and they are nice, but they lack panache. I'm going to take a closer look at that Steinhart watch.

I currently have a plastic Swatch chrono, bought in Interlaken, CH, and 3 Irony chronos, one of which was bought somewhere in Switzerland -- not exactly sure where my parents bought it, as they were on holiday. I regularly wear all but the plastic one.

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Edit: I have looked at some reviews, and I dig those Steinharts. I'll have to find a place to see one of then, but it sounds like I'll have to go to Germany or Switzerland for that. Unless I decide to buy without touching one first, that is.

Thanks for the pointer to an affordable alternative!

[Nikita70]

I bought my Rolex 16760 because of Magnum. It isn’t the exact model he had but very close. The great thing about the Rolex GMT is the ability to change the bezel insert. Mine came with the Coke (red/black) but I’m going to get the Pepsi (red/blue). I bought it for 20% under market value.
I did have the Steinhart Pepsi as pictured in a previous post. It’s a good quality watch and a great alternative for those who don’t want to spend the money for a Rolex.

[Styles Bitchley]

I bought my Rolex 16760 because of Magnum. It isn’t the exact model he had but very close. The great thing about the Rolex GMT is the ability to change the bezel insert. Mine came with the Coke (red/black) but I’m going to get the Pepsi (red/blue). I bought it for 20% under market value.
I did have the Steinhart Pepsi as pictured in a previous post. It’s a good quality watch and a great alternative for those who don’t want to spend the money for a Rolex.

Thanks for pointing out that you can swap for a Pepsi bezel (although I bet they're not cheap). Also good to hear from someone who has had a Steinhart and a Rolex and who still find the Steinhart to be a good watch. Nice to see you were finally able to register to the forum!

Any tips on where to pick up a vintage Rolex GMT for 20% under market value???

[Styles Bitchley]

So, this watch just came up for sale on ebay and I thought I'd share because of the early 80s Navy Seal connection.

As mentioned earlier in this thread, I believe the Chronosport UDT came along a bit later than the Sea Quartz 30 that Magnum wore. This one has a pretty unique history. Here's an excerpt from the ad:

"A rare King Hussein of Jordan gift Chronosport UDT Type IIB in original box. King Hussein made gifts of these watches to Navy Seals and other dignitaries. This watch belonged to a Navy Seal and U.S. spy from Fairfax, Va. His identity is not known to me. This watch is from his estate, which was cleared of all tactical weapons and spy gear (though not cameras and watches) prior to liquidating the remaining property. His house was rented and the owners names are redacted from public records. I can provide the address of his home to the buyer if you'd like to try your detective skills."

[Nikita70]

Thanks for pointing out that you can swap for a Pepsi bezel (although I bet they're not cheap). Also good to hear from someone who has had a Steinhart and a Rolex and who still find the Steinhart to be a good watch. Nice to see you were finally able to register to the forum!

Any tips on where to pick up a vintage Rolex GMT for 20% under market value???[/quote]


My best advice on picking up a Rolex for a good price is to haunt the watch sites for sale forums. That is where I bought mine. Just a few days ago a model very similar If not the exact same one as Magnum had came up for sale for $5400. It sold within an hour. Considering the watch is worth twice that minimum tells you how rare a deal like that is. It really is just a matter of checking all the time and to be ready when a deal pops up because there won’t be a lot of time to make up your mind.

[Nikita70]

Love the Chronosport too!

[Higgins (aka Bondtoys)]

My best advice on picking up a Rolex for a good price is to haunt the watch sites for sale forums. That is where I bought mine. Just a few days ago a model very similar If not the exact same one as Magnum had came up for sale for $5400. It sold within an hour. Considering the watch is worth twice that minimum tells you how rare a deal like that is. It really is just a matter of checking all the time and to be ready when a deal pops up because there won’t be a lot of time to make up your mind.

Apologies in advance, but there is so much wrong in your post.

Firstly a Pepsi Bezel Insert can be had for less than 100 Euros

Then buying a preowned Rolex can be a minefield as there are so many variables.
So, you bought your watch 20% below „market value“
I am just curious how you determine „market value“

The price and value of a 30 year old Rolex depends on so many variables:

- does the offer include the certificate? (certificate yes or not can mean several hundred $ in price difference!)
- is the dial original or a replacement? (genuine dials can set you back hundreds of $)
- are the hands original or replaced?
- is the bracelet the original one and how is the condition? (good and period-correct bracelets cost several hundred $)
- when was the last service ( a service alone can set you back 1000$)?
- how is the condition of the movement (waterdamage??) (a damaged movement can set you back several THOUSAND $)
- is there any pitting around the main gasket (new case mids costs several THOUSAND $)
- Very important!!! How thick are the lugs and crown guards ("")
- are there deep scratches, gauges etc. in the main case?("")
- are all parts genuine or aftermarket

- and most importantly: Could the watch be stolen and do you trust the seller that he’ll refund you, if the watch turns out to be stolen?

These factors all influence heavily the value, so I am very sceptic when someone claims hat he‘s gotten a certain watch „below value“.
I am not saying that you where lucky - that I can only tell when seeing good pics of your watch - but after years of searching for vintage Rolex watches, I have never closed on a "cheap deal" as the negatives where so glaring that the bargain price was too high.

But a cheap price alone should not be the reason for buying a particular Rolex.

I usually end up paying the higher end of the range after I have made sure that I am getting an example that ticks most of the boxes from above and is really good!

[Nikita70]

I’m not here to argue. You need to re-read the above post, it was not I talking about bezel insert prices.
I bought my 16760 from a verified trusted seller on a watch forum for 20% under the current going rate. Obviously one needs to do their own research on whatever models they are interested in and research the seller. If you feel better paying top dollar that’s fine, I do not like paying more than I have to.
I determine market value very easily. Watches in similar conditions from different sources like watch forums, eBay, And list of other places. I’m talking SOLD value, not what some people are asking. There’s a difference. I also have sold literally tens of thousands of items online including watches so I do have a little experience.
I read your checklist on the conditions. On a scale of 1-10 with 10 being in perfect condition my watch is a 7. Which probably wouldn’t make you happy but that doesn’t matter. It makes me happy.

[Higgins (aka Bondtoys)]

I haven‘t seen many 16760 with a market value of $10.800 to begin with your flawed expertise

Having experience selling all kinds of things does not make you an expert in vintage Rolex watches.

I am just having this kind of discussion to prevent others from following your advise and ending up with a cheap watch that is even too expensive on that level because of the flaws that it may have.

I can only recommend consulting experts with experience in that field BEFORE buying something.
Nobody wants to lose hundreds of Dollars on a cheap deal which is a scrap watch in the end.

And let‘s remember: every burglar is looking for watches and jewellery. Guess where all these stolen watches end up for sale?

[Nikita70]

You’re the man. You know it all. I’m here to enjoy Magnum and things like that. Not argue with people who know more than anybody else.

[Styles Bitchley]

I haven‘t seen many 16760 with a market value of $10.800 to begin with your flawed expertise

Having experience selling all kinds of things does not make you an expert in vintage Rolex watches.

I am just having this kind of discussion to prevent others from following your advise and ending up with a cheap watch that is even too expensive on that level because of the flaws that it may have.

I can only recommend consulting experts with experience in that field BEFORE buying something.
Nobody wants to lose hundreds of Dollars on a cheap deal which is a scrap watch in the end.

And let‘s remember: every burglar is looking for watches and jewellery. Guess where all these stolen watches end up for sale?

Some good points here and sage advice, but not a tone that's very welcoming for a new forum member. There aren't many of us left here in the forum compared to the old days, so let's keep the spirit of camaraderie high! It can all probably be summed up by saying, if you don't know what you're doing ask an expert you trust or buy only from a reputable dealer. You may come across an amazing deal on a watch, as Nikita says, but you could easily be getting duped. That's a gamble I think everyone knows could be there. I know that I bought my Rolex on a whim for a relatively crazy cheap price...and I was half expecting to find out it was a fake. But it wasn't! Score for me!