Craigslist Gem?

[Deepseadog]

Just stumbled across this while looking for random items in my hometown and didn't expect to see this. Don't have enough vintage Rolex knowledge (or funds) to pull the trigger, but curious what forum members thoughts are:

https://vermont.craigslist.org/jwl/d...588814563.html

[CHF]

Well, I don't have the knowledge either but it does look exactly the way one might expect a watch with that story to look. The case back engraving wear would be hard to emulate, but I'm not familiar with tricks that some may employ. The fact that it's on a non original TT bracelet that is acknowledged lends credibility but, again, that itself could be a ploy. I'm very intrigued by what the experts here will say. Interesting and thank you.

[some.idiot]

I work at the VA. A Vietnam vet selling his unit-engraved Rolex? I can't even imagine this being an option unless he is in very dire straits.

[harry in montreal]

It’s not your typical FS post. It’s missing many orig parts but the dial is where the value lies.

[HAPConst]

I recently picked up a 16808 from a vet. His wife passed a few months back and he needs around the clock care. He sold me his watch to help pay for his nurse. I felt bad for him, but promised to never sell it and always remember him and his sacrifice. Could be a similar situation.

[Dan S]

Someone locally here is trying to sell a 5508 that he inherited from his Vietnam vet buddy. Also on Craigslist. I can't get him to consider a fair offer, unfortunately.

[alwayshere]

well he isn't selling it for chumb change - he is already setting expectations in his advertisement.

[CTech]

The 5508 on ebay for $250,000 that is referenced in the Vermont Craigslist advert has been offered for sale for that price for several years, and is often used by sellers as a benchmark for their non-original, beat up, dirty, neglected and generally scruffy examples.

In reality, good condition 5508s with a gilt dial but with some variations on replaced hands, insert, etc. can be had from the normal sources for anything between $20,000 and $30,000.

Typical sellers of these (and other similar early Submariners) are being misled both by the $250,000 one on ebay and a very small number of auction results where a high price could be justified because of the exceptional condition and originality of the watch.

As Dan says, reasonable offers for the usual Craigslist 5508s are refused because the sellers cannot distinguish how poor their watch really is compared to the collector quality ones, and so they think everybody will be clamoring to buy theirs at 5 to 10 times market value.

[Juhuatai]

Dan the watch you’re talking about the owner is here on rolexforums. I’ve seen pictures posted and even answered in the thread.

[CTech]

Originally Posted by Juhuatai

Dan the watch you’re talking about the owner is here on rolexforums. I’ve seen pictures posted and even answered in the thread.

This is the thread:

https://www.rolexforums.com/showthread.php?t=863245

It looks quite good and I'm a bit surprised it hasn't sold yet. The Craigslist advert says he wants $40,000 for it which doesn't seem too far out of line:

https://denver.craigslist.org/jwl/d/...584809708.html

[TuRo]

Originally Posted by CTech

The 5508 on ebay for $250,000 that is referenced in the Vermont Craigslist advert has been offered for sale for that price for several years, and is often used by sellers as a benchmark for their non-original, beat up, dirty, neglected and generally scruffy examples.

In reality, good condition 5508s with a gilt dial but with some variations on replaced hands, insert, etc. can be had from the normal sources for anything between $20,000 and $30,000.

Typical sellers of these (and other similar early Submariners) are being misled both by the $250,000 one on ebay and a very small number of auction results where a high price could be justified because of the exceptional condition and originality of the watch.

As Dan says, reasonable offers for the usual Craigslist 5508s are refused because the sellers cannot distinguish how poor their watch really is compared to the collector quality ones, and so they think everybody will be clamoring to buy theirs at 5 to 10 times market value.

Very true $250,000 is big case (6538) red depth territory.... seems many dealers/privates don't (perhaps willfully) get the HUGE difference between that type of rare beast and their 6536/1 or 5508 with scruffy ordinary 2 line gilt dial.

$40,000 is a little bit toppy, but dial is perfect (and I know we analysed it here and Gerhard too on VRF) and considered that it is a legit excl dial.

[Dan S]

Originally Posted by CTech

This is the thread:

https://www.rolexforums.com/showthread.php?t=863245

It looks quite good and I'm a bit surprised it hasn't sold yet. The Craigslist advert says he wants $40,000 for it which doesn't seem too far out of line:

https://denver.craigslist.org/jwl/d/...584809708.html

Yeah, I'd love to see it in person, check it with a Geiger counter, etc., but the owner has declined my offers to meet so far. Maybe someday we will get together and make a deal.

[77T]

The listing the OP posted with his question is the quintessential “trust the seller” paradigm. To be a buyer is to accept the seller’s narrative.

If one could reach a mutually agreeable price, then a flight to Vermont with cash in hand is the best path for a true collector.

Perhaps Wardwell would be willing to show any military enlistment/discharge docs to help add provenance. Because this is the ultimate barn find, one would be hard pressed to support the story barehanded.

It is a very interesting watch - and the Army’s 336th assault helicopter company was in theater during the engraved service dates. Wardwell didn’t show up in internet searches but that isn’t meaningful.


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