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GMTIIPilot · 9 August 2006, 01:19 PM

Well, Ive run into a little bit of a dilema. My local AD called me yesterday and just received a kermit sub. I told him no thanks, my interest in that watch has subsided. I did ask however, if he had any vintage stock come through, and believe it or not, a 2.8 mil serial Red Sub is for sale on consigment. This is my dream watch, and represents my birth year, 1969. They are asking $7500, which seems a bit high, but Im no expert. The watch just came back from service and is exquisite. The timing on this really sucks becasue I just plopped down $5K for my wifes new DJ, and additional funds are tied up. Anyway, I guess Im just rambling. If anyone has suggestions or input on the asking price, feel free to chime in.

C.J. · 9 August 2006, 02:08 PM

That is one amazing watch. I do hope all goes well for you with it

Launch Mini · 9 August 2006, 03:31 PM

See if they will hold it for you with a sizeable downpayment.
These don't come along very often.
Pay for it over "time" and let them hold it until it's 100% paid up.

JJ Irani · 9 August 2006, 05:13 PM

Good luck over the final outcome, pal!

mailman · 9 August 2006, 06:24 PM

The Red Sub is one beautiful watch.

Launch Mini's idea is a great one. The worst the AD will say is no.

padi56 · 9 August 2006, 07:34 PM

Yes agree genuine Red subs are now at a premium price,and getting harder to find,the deposit option would be great if AD agrees.And IMO would hold its price far better than any modern day model.

DocD · 9 August 2006, 09:24 PM

That is a really difficult situation, especially with a rare and beautiful watch like the red sub. However I believe I have the perfect solution.

Since you just recently purchased your wife the DJ, you simply have to tell her that her new Rolex makes her look a little heavy and within seconds that will free up at least $5000

GMTIIPilot · 10 August 2006, 12:17 AM

Quote:

Originally Posted by DocD

That is a really difficult situation, especially with a rare and beautiful watch like the red sub. However I believe I have the perfect solution.

Since you just recently purchased your wife the DJ, you simply have to tell her that her new Rolex makes her look a little heavy and within seconds that will free up at least $5000

Now that is some good advice. Although it could go the other way and end up costing me more in the divorce settlement.

Thanks for everyones input. I guess if I were to look at this as an investment it would be a no-brainer, I could pull the money out of the market. Problem is, as my wife pointed out, I would never sell it. So is a watch that is never sold really an investment. I guess I could have worse problems than trying to figure out how to buy another Rolex.

Rockrolex · 10 August 2006, 03:15 AM

Quote:

Originally Posted by GMTIIPilot

Now that is some good advice. Although it could go the other way and end up costing me more in the divorce settlement.

Thanks for everyones input. I guess if I were to look at this as an investment it would be a no-brainer, I could pull the money out of the market. Problem is, as my wife pointed out, I would never sell it. So is a watch that is never sold really an investment. I guess I could have worse problems than trying to figure out how to buy another Rolex.

I've got a proposal for you, Pete. I'll lend you the money, and then I'll keep the watch as collateral until it gets paid off. I only charge 10% interest on the remaining balance. How's that for a deal?

GMTIIPilot · 10 August 2006, 05:16 AM

Quote:

Originally Posted by Rockrolex

I've got a proposal for you, Pete. I'll lend you the money, and then I'll keep the watch as collateral until it gets paid off. I only charge 10% interest on the remaining balance. How's that for a deal?

Well, assuming your being serious, Thanks. That is a kind gesture. My plan today is to go down to the AD, hold the watch and see if it truely is calling, and if so, just take the cash from my stock investments (which suck right now anyway). Ill update tomorrow after holding this watch in my own two hands.

One last question, does anyone have input as to whether $7500 is fair?

mike · 10 August 2006, 08:29 AM

Well, a lot of the value depends on the condition of the watch.
With a 2.8 mil ser. no. the watch would date to circa 1970 or so(a little either way).

Things to look for--does the dial read meters or feet first. Meters first makes the watch more desireable and usually indicates an older piece. With that number a feet first should have open sixes.

This is mine that carries a 2.5 number with a case back reading the first quater of 1970
This is open 6s non-hacking, non quick set,

Does the dial look clean with matching hands? Is the tritium flaking in any spot? Is there ANY pitting on the hands? What kind of bracelet is on the watch.

If orginal I think the watch will have a 7206 riveted bracelet with either 60 of 80 end links.
If an old replacement look for a folded 9315 with 280 end links.
If newer 93150 with 580 end links.

The watch may or may not hack. circa 70-71 was the change over, but that's not set in stone.

I've seen recent examples in nice condition around mid 6K. Prices seem to be going up. Understand on consignment the dealer is getting probably 20%. so money to the seller is about right. With the watch being recently serviced that saves you on that cost----PROVIDED---geninue Rolex parts were used.
Get the service on paper. Documentation is important on watches like this.

Usually on a consignment the seller builds a bit of fudge factor into the price.
Try 10%--who knows. Make an offer and have the seller contact the owner and see what happens.
Good luck!!

Reds are in demand and if a good one comes along.....

GMTIIPilot · 11 August 2006, 06:37 AM

Hey Mike, thanks for all the detailed info.
I went to the AD and the watch is non-quickset, but has the hacking feature.
The oyster bracelet is the 93150, so most likely a replacement, but in good shape. There are no papers or box, but the watch was serviced by Rolex 6 months ago, with the paper work from that. I have talked them down to $6K, but without box and papers, I thought I would just throw one more query to the forum for advice.
Thanks.

Pete

Rockrolex · 11 August 2006, 08:07 AM

Quote:

Originally Posted by GMTIIPilot

Hey Mike, thanks for all the detailed info.
I went to the AD and the watch is non-quickset, but has the hacking feature.
The oyster bracelet is the 93150, so most likely a replacement, but in good shape. There are no papers or box, but the watch was serviced by Rolex 6 months ago, with the paper work from that. I have talked them down to $6K, but without box and papers, I thought I would just throw one more query to the forum for advice.
Thanks.

Pete

Don't worry about the papers, Pete. The warranty ran out a long time ago. If you're getting from an AD and it's been recently serviced, that's not a bad price for that vintage piece.

mike · 11 August 2006, 08:38 AM

Service paperwork from Rolex is all you need to authenticate the watch.

The watch will have all Rolex parts and six months left on the warrentee.

At a price of 6k, and it looks good----BUY IT!!!

9 August 2006, 01:19 PM	#1
GMTIIPilot Member Join Date: Apr 2006 Real Name: Pete Location: Colorado Watch: Rolex GMT II Posts: 95	Very big dilema... Well, Ive run into a little bit of a dilema. My local AD called me yesterday and just received a kermit sub. I told him no thanks, my interest in that watch has subsided. I did ask however, if he had any vintage stock come through, and believe it or not, a 2.8 mil serial Red Sub is for sale on consigment. This is my dream watch, and represents my birth year, 1969. They are asking $7500, which seems a bit high, but Im no expert. The watch just came back from service and is exquisite. The timing on this really sucks becasue I just plopped down $5K for my wifes new DJ, and additional funds are tied up. Anyway, I guess Im just rambling. If anyone has suggestions or input on the asking price, feel free to chime in.

9 August 2006, 02:08 PM	#2
C.J. "TRF" Member Join Date: Jan 2006 Location: * Posts: 10,196	That is one amazing watch. I do hope all goes well for you with it __________________ Me? I'm still looking for Kokomo. I just hope that damn golfer isn't there

9 August 2006, 03:31 PM	#3
Launch Mini "TRF" Member Join Date: Jan 2006 Real Name: John Location: Canada, eh Watch: can I? Posts: 6,240	See if they will hold it for you with a sizeable downpayment. These don't come along very often. Pay for it over "time" and let them hold it until it's 100% paid up. __________________ Something witty to go here. Member # 293

9 August 2006, 05:13 PM	#4
JJ Irani Fondly Remembered Join Date: May 2005 Real Name: JJ Location: Auckland, NZ Watch: ALL SOLD!! Posts: 74,319	Good luck over the final outcome, pal! __________________ Words fail me in expressing my utmost thanks to ALL of you for this wonderful support during my hour of need!! I firmly believe that my time on planet earth is NOT yet up!! I shall fight this to the very end.......and WIN!!

9 August 2006, 07:34 PM	#6
padi56 "TRF" Life Patron Join Date: Jun 2005 Real Name: Peter Location: Llanfairpwllgwyng Watch: ing you. Posts: 52,825	Yes agree genuine Red subs are now at a premium price,and getting harder to find,the deposit option would be great if AD agrees.And IMO would hold its price far better than any modern day model. __________________ ICom Pro3 All posts are my own opinion and my opinion only. "The clock of life is wound but once, and no man has the power to tell just when the hands will stop. Now is the only time you actually own the time, Place no faith in time, for the clock may soon be still for ever." Good Judgement comes from experience,experience comes from Bad Judgement,.Buy quality, cry once; buy cheap, cry again and again. www.mc0yad.club Second in command CEO and left handed watch winder

9 August 2006, 06:24 PM	#5
mailman TRF Moderator & SUBMARINER 2024 Patron Join Date: Oct 2005 Location: . Watch: 126610LN Posts: 35,458	The Red Sub is one beautiful watch. Launch Mini's idea is a great one. The worst the AD will say is no.

9 August 2006, 09:24 PM	#7
DocD "TRF" Member Join Date: Apr 2006 Location: New Jersey Watch: Submariner date Posts: 298	That is a really difficult situation, especially with a rare and beautiful watch like the red sub. However I believe I have the perfect solution. Since you just recently purchased your wife the DJ, you simply have to tell her that her new Rolex makes her look a little heavy and within seconds that will free up at least $5000

10 August 2006, 08:29 AM	#11
mike "TRF" Member Join Date: Jul 2005 Posts: 22,683	Well, a lot of the value depends on the condition of the watch. With a 2.8 mil ser. no. the watch would date to circa 1970 or so(a little either way). Things to look for--does the dial read meters or feet first. Meters first makes the watch more desireable and usually indicates an older piece. With that number a feet first should have open sixes. This is mine that carries a 2.5 number with a case back reading the first quater of 1970 This is open 6s non-hacking, non quick set, Does the dial look clean with matching hands? Is the tritium flaking in any spot? Is there ANY pitting on the hands? What kind of bracelet is on the watch. If orginal I think the watch will have a 7206 riveted bracelet with either 60 of 80 end links. If an old replacement look for a folded 9315 with 280 end links. If newer 93150 with 580 end links. The watch may or may not hack. circa 70-71 was the change over, but that's not set in stone. I've seen recent examples in nice condition around mid 6K. Prices seem to be going up. Understand on consignment the dealer is getting probably 20%. so money to the seller is about right. With the watch being recently serviced that saves you on that cost----PROVIDED---geninue Rolex parts were used. Get the service on paper. Documentation is important on watches like this. Usually on a consignment the seller builds a bit of fudge factor into the price. Try 10%--who knows. Make an offer and have the seller contact the owner and see what happens. Good luck!! Reds are in demand and if a good one comes along.....

11 August 2006, 06:37 AM	#12
GMTIIPilot Member Join Date: Apr 2006 Real Name: Pete Location: Colorado Watch: Rolex GMT II Posts: 95	Hey Mike, thanks for all the detailed info. I went to the AD and the watch is non-quickset, but has the hacking feature. The oyster bracelet is the 93150, so most likely a replacement, but in good shape. There are no papers or box, but the watch was serviced by Rolex 6 months ago, with the paper work from that. I have talked them down to $6K, but without box and papers, I thought I would just throw one more query to the forum for advice. Thanks. Pete

11 August 2006, 08:38 AM	#14
mike "TRF" Member Join Date: Jul 2005 Posts: 22,683	Service paperwork from Rolex is all you need to authenticate the watch. The watch will have all Rolex parts and six months left on the warrentee. At a price of 6k, and it looks good----BUY IT!!!

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