Rolex GMT 16700 - Hit or Miss?

[pl2se]

Dear all...
Since your are all very knowable people, and I´m a bit to spontaneous, I would like your help to either calm myself or simply to try to save eventually losses. Yesterday I got "feeling" and bought a complete set 16700 from 1990 for 7000USD. The impression I got from the lot was that the watch was in god standing (not over polished if polished at all). But did I overpay?

[zaratewl]

I'd lean towards yes, slightly. I say that because of what looks like a dent outside of normal wear and tear on the bezel at the 14 and the lack of a crown gasket that would suggest it probably needs a full servicing.

That's just me, I'm an amateur at best.

Sent from my SHIELD Tablet K1 using Tapatalk

[pl2se]

Originally Posted by zaratewl

I'd lean towards yes, slightly. I say that because of what looks like a dent outside of normal wear and tear on the bezel at the 14 and the lack of a crown gasket that would suggest it probably needs a full servicing.

That's just me, I'm an amateur at best.

Sent from my SHIELD Tablet K1 using Tapatalk

Thanks,
I can see some wear on the bezel, but around 12, I think. Please point me to the dent you mentioned. I noticed that the outside of the crown looked a bit worn, but I could see that there was a gasket missing. Still got things to learn!
: )

[padi56]

Originally Posted by pl2se

Thanks,
I can see some wear on the bezel, but around 12, I think. Please point me to the dent you mentioned. I noticed that the outside of the crown looked a bit worn, but I could see that there was a gasket missing. Still got things to learn!
: )

How could you possibly see a gasket is missing its a twin lock crown the only gaskets are inside the watch and inside the crown head.Its only on the triplock crowns you can see a gasket when crown is unscrewed.And both crowns and crown tubes are just disposable service items that are often replaced a normal routine service.

[pl2se]

Originally Posted by padi56

How could you possibly see a gasket is missing its a twin lock crown the only gaskets are inside the watch and inside the crown head.Its only on the triplock crowns you can see a gasket when crown is unscrewed.And both crowns and crown tubes are just disposable service items that are often replaced a normal routine service.

Thanks for the great pictures. I actually meant that I could NOT se that there was a gasket missing. (but being quite new with Rolex i need to be humble) I have a 1675 (twin lock) and a 16600 since previously and my guess was that regarding the gasket it´s positioned inside the crown itself.

Do you have any other thoughts?

Best Regards
/P

[breitlings]

Originally Posted by zaratewl

I'd lean towards yes, slightly. I say that because of what looks like a dent outside of normal wear and tear on the bezel at the 14 and the lack of a crown gasket that would suggest it probably needs a full servicing.

That's just me, I'm an amateur at best.

Sent from my SHIELD Tablet K1 using Tapatalk

I don't think there is a crown gasket visible on this model... I have an extra black insert.

[henrylee]

I say average for a full set unpolished. Don't worry about it if you're happy!

[TheVTCGuy]

I am fairly worthless when it comes to knowledgeable pricing of used Rolexes, but i would say that is a nice looking set and a great watch. If you are happy, don't worry about it. After all, don't we always over-pay when we buy a Rolex anyway?

[pl2se]

Originally Posted by TheVTCGuy

I am fairly worthless when it comes to knowledgeable pricing of used Rolexes, but i would say that is a nice looking set and a great watch. If you are happy, don't worry about it. After all, don't we always over-pay when we buy a Rolex anyway?

[pl2se]

A picture of the crown, which I think look a bit worn on the logo.

[JohnAcosta]

Originally Posted by pl2se

A picture of the crown, which I think look a bit worn on the logo.

Either the bezel is bent/warped, or the insert is slightly out.

You might need a new bezel assembly.

[sensui]

I don't think you overpaid....piece looks sharp with wear and tear as expected of this age without major polish....about normal I'd say on this deal...you didn't steal it either. I say service it and enjoy.

[karmatp]

If I am paying $7000 for a watch, I am getting something new with all the improvements. You could have purchased a new 114060 and had $500 in your pocket. Either way, what's done is done. Enjoy it and it will be worth every penny you spent.

[tkerrmd]

Originally Posted by karmatp

If I am paying $7000 for a watch, I am getting something new with all the improvements. You could have purchased a new 114060 and had $500 in your pocket. Either way, what's done is done. Enjoy it and it will be worth every penny you spent.

well this crossed my mind also!

[joli160]

Usually the lug holes can be a give away if the watch was poorly polished or not. Sometimes these have become craters without sharp definition and not enough meat left to the edge of the lugs.
On your pics this cannot be seen. Crown guards look OK.
Since you asked to answer your question, yes you overpaid imho, it's not a very clean example in my book , which it should have been for that money.
Probably another 1K for a service will be required. 8K is top dollar.
If the current vintage hype lasts a while you'll get your money back in a few years. Just my 2c, far from being an expert.

[jb335]

Originally Posted by karmatp

If I am paying $7000 for a watch, I am getting something new with all the improvements. You could have purchased a new 114060 and had $500 in your pocket. Either way, what's done is done. Enjoy it and it will be worth every penny you spent.

Some people prefer older models to modern examples. Not exactly what he was asking.

OP, I think you paid a fair market price considering you have B+P. I certainly would not lose any sleep over the price you paid.

[Boaters]

For full set and the condition looks to be okay maybe a tad to much know big deal enjoy it

[Sky21]

Check the resent sales on eBay and the recent sold listings on this forum for a complete set 16700. I think you'll find that you paid very close to everyone else recently. The watch has some issues, but if you want to flip it I think you'll have no trouble getting your money back.

[997.2]

yeah you did overpay by about 1k, nice watch though.

[mtgjr]

Originally Posted by 997.2

yeah you did overpay by about 1k, nice watch though.

Agreed. I would expect a discount for a) black insert (I know, easily swapped out for a Pepsi/Coke, but black ones still sell for less), b) age, c) 16700 vs 16710, and most importantly, d) condition. That bezel is pretty rough. The inside edge looks bent at the 10 and the 14, and possibly scuffed along the entire edge between those numbers.

[Gtecko]

@997.2 how can you say he overpaid 1K on this watch ... a full set for a gmt goes around what he paid, more or less, OP is on the high end of the spectrum for the price but it is a full set... good for you OP, nice watch !!

[JohnAcosta]

$7000 is a little higher than what I would pay for a 16700. I would expect that price for a 16710 in similar condition.

Also, I would personally send it in for a service of the movement and cleaning (not polishing). Inbetween the links and the space between the case/crystal and the bezel is looking dirty.

[chows99]

Originally Posted by JohnAcosta

$7000 is a little higher than what I would pay for a 16700. I would expect that price for a 16710 in similar condition.

Also, I would personally send it in for a service of the movement and cleaning (not polishing). Inbetween the links and the space between the case/crystal and the bezel is looking dirty.

I am not sure why you beieve 16710 fetch a higher value than 16700 which is the last of the true GMT Master and it have a quickeset date!

[MCO1]

Great watch! I have seen them going for between 6k and 7k so you might be in a little steep but if you want it and will enjoy it then it only matters if you decide to sell it.

[arguetaoscar]

I was at Torneau today and had a 16700 for 8K... and I was wearing mine, you will love it get the Pepsi Bezel....



Sent from my iPhone using Tapatalk

[cornerstore]

Decent value going by today's prices for one on that bracelet. Nice set overall, enjoy it.

[FTX I]

Compared to trusted sellers you did ok. Enjoy your beautiful GMT.

[iliketime]

its a bit higher than Id be willing to pay for a 16700, but that seems to be where the market is these days.

[dnpina]

My Pepsi must be worth 12k then
Wow

[JP Chestnut]

The crown guards look fat, but the lugs don't look unpolished to me. Your pictures aren't good though. Get a shot of each chamfer up close if you want a better opinion. Also, get a shot of the clasp. I bet the coronet isn't very distinct.