The Popularity and Price Increase of Older GMTs

[No SUBctitute]

Ten years ago, you could pick up a pre-owned 16710 for less than $4,000 (which is $4700 in today's dollars). Today, they are more than $10,000--more than double, even when adjusted for inflation.

What do you attribute to the rise in popularity of the 16710? Did the introduction of bi-color bezels on the ceramic GMT increase interest in the 16710? Would the 16710 have become as popular in recent years without the intro of Batman and new Pepsi?

[exador]

1. Last of the 5 digits (a lot of folks don't like the super case).
2. Supposedly the most "versatile" Rolex with the ability to swap bracelets and bezel inserts (although I suspect very few owners actually bother).

[JasonF]

I'm surprised by this also. I liked my Pepsi 16710 and actually purchased from RUSA coke and all-black bezel inserts. Swapping them was easy and made for a versatile watch. I eventually sold it for around what I paid at an AD (less a few hundred bucks) and I can't get my head wrapped around the parabolic pricing of these models.

Similarly, I'd like to get a 14060M but decent examples now exceed MSRP on a 114060 from an AD and not too far off from a NIB 114060 from a trusted grey. Like many others, I prefer the thinner lugs, aluminum insert and holes case but it feels like the 14060 is priced for perfection.

Here's my old GMT with the additional inserts...

[No SUBctitute]

Originally Posted by exador

1. Last of the 5 digits (a lot of folks don't like the super case).
2. Supposedly the most "versatile" Rolex with the ability to swap bracelets and bezel inserts (although I suspect very few owners actually bother).

All good answers. Its interesting that 16710s could still be had in the $5000 range in 2013. This was six years after after the introduction of the 6-digit steel GMT in 2007. It seems like there was increased interest in 16710s after 2013.

[jerryhum]

Originally Posted by No SUBctitute

All good answers. Its interesting that 16710s could still be had in the $5000 range in 2013. This was six years after after the introduction of the 6-digit steel GMT in 2007. It seems like there was increased interest in 16710s after 2013.

I think it was the 116710BLNR that really drove interest to the entire line, which was released in 2013 if I recall (correct me if I'm wrong). Before that, the all-black GMTc was still just too similar to the submariner but the BLNR made headlines for the bicolor ceramic bezel. I think the previous points about how versatile the watch is and it being the last of the 5-digits are secondary since that was all true 10 years ago too. The masses only really started paying attention to it after the 116710BLNR.

Also, vintage collecting in general really started taking off with publications like Hodinkee hitting their stride. 4-digits started rising and 6-digits were gaining attention. It was a perfect storm for the 5-digits that were caught in the middle; still relatively affordable and had the best of both words for many.

[DJ39]

Originally Posted by jerryhum

I think it was the 116710BLNR that really drove interest to the entire line, which was released in 2013 if I recall (correct me if I'm wrong). Before that, the all-black GMTc was still just too similar to the submariner but the BLNR made headlines for the bicolor ceramic bezel. I think the previous points about how versatile the watch is and it being the last of the 5-digits are secondary since that was all true 10 years ago too. The masses only really started paying attention to it after the 116710BLNR.

Also, vintage collecting in general really started taking off with publications like Hodinkee hitting their stride. 4-digits started rising and 6-digits were gaining attention. It was a perfect storm for the 5-digits that were caught in the middle; still relatively affordable and had the best of both words for many.

Good insight by all, the bi-color ceramic bezel was the game changer like some have alluded too.

Which is why when I posted this Sunday related to the GMT line I focused on the color ways on the bezel not specifically the references, yes whether it’s a 4, 5 or 6 digit is very important but people buy the bezel and bezel color first then the reference second

But what I find interesting is that Rolex has introduced a new color every decade since the 50s except for the 90s when they were designing the ceramic bezel and needed time to execute in 00s; that means there WILL be a new color way in this new decade which is very exciting to ponder.


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[illiguy]

Look beyond GMTs. Same holds true for all 5-digit SS sport models.

[exador]

Originally Posted by illiguy

Look beyond GMTs. Same holds true for all 5-digit SS sport models.

11610LNs haven't gone stupid (yet).

[037]

I'd argue that the popularity of the 16710/16700/16760/16750/1675 is why we now have the BLRO on Jubilee. Had the older GMTs not been so popular leading up to 2018, that watch might not have been released.

In other words, I don't think the 4- and 5-digit models are popular because of the 6-digits but rather the reverse. Now they're all popular.

[No SUBctitute]

Originally Posted by 037

I'd argue that the popularity of the 16710/16700/16760/16750/1675 is why we now have the BLRO on Jubilee. Had the older GMTs not been so popular leading up to 2018, that watch might not have been released.

In other words, I don't think the 4- and 5-digit models are popular because of the 6-digits but rather the reverse. Now they're all popular.

Interesting. Thanks for that perspective.

[mrmarty]

the five digit had a slimmer profile, slimmer lug, and full brushed bracelet that made a lot of people feel it was the last of the true tool watches. it was light on the wrist and takes an immense amount of abuse. to this date the five digit is still my all time favorite and can see them increase more through the coming years.

there were days that 16570's could be had for much under 4000. these days nothing can be touched for less than 5500 and I don't see this trend slowing down across all the stainless models.

[sambb]

nostalgia.. but i think the rise has happened and they wont go up too much more. After all, look at prices of a red lined sub from the 70s. GMTs from the last era are far more common.

Then again, there is nothing rational about spending this kind of money on any watch. Or even buyoing a watch for that matter.

[GMT Aviator]

There is no disputing the historical patronage of the earlier GMT’s, from airline pilots, to film stars, movies, test pilots and even the Apollo astronauts who flew theirs to the moon and back.
Add in the modern trend of Instagram and other social media driving the hype and the desire as people move through their careers and have more disposable income as they age, then items like these become increasingly desirable.
I don’t see the increasing price trend ending anytime soon. The 5 digits aren’t being made anymore and as time goes by ultimately less and less will become available without paying a premium.
They have and always will remain as a desirable reference for all the reasons stated above. Even the newer 6 digits do not have the provenance of the older models, they just trade off their 5 or 4 digit siblings reputation.
Prices may plateau for a while for the 5 digits but I still think in the next 10 years they will continue on an upward trajectory.

[mykii]

Originally Posted by GMT Aviator

Even the newer 6 digits do not have the provenance of the older models, they just trade off their 5 or 4 digit siblings reputation.
Prices may plateau for a while for the 5 digits but I still think in the next 10 years they will continue on an upward trajectory.

Well the 6 digits have the same provenance of the 5 digit models, but they are obviously newer so don't have their own history. But they will.

[Nikrnic]

I can't believe how the prices of the 5 dgt. Gmts have climbed in just the last five years. I got more serious to find one 2 yrs. ago but still off and on in my search as prices kept moving. Bought a new Batman in oct.'18 thanks to my AD and cured the itch for a bit but to no avail stayed on the search til I finally found mine (thanks again AD) at more than my Blnr cost but O-well. The prices have seemed to stabilized somewhat now but they'll always be a collectible piece. I really don't care about the value, I'm just glad to finally get in and enjoy a great piece with a history to match.one owner f ser. full set.

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[bazin]

*****
A true GMT Master......the type 1675.......cpl. full of 1978 set incl. invoice.....still 1st owner.

[Onikage]

If you want Pepsi be prepared to pay for it I think the message is.

[dbfagan]

Originally Posted by Okami

*****
A true GMT Master......the type 1675.......cpl. full of 1978 set incl. invoice.....still 1st owner.

Spectacular! I love to see first owner vintage.

[SeaDweller50]

You’re better off going for a 16570 reference. The cheapest GMT you can buy currently, but even they’re creeping up in price. The ultimate tool watch imo.

[ras47]

I turned down $9600 for mine, box, papers, and an extra BLRO bezel insert.

[jhd29]

About 10 years ago I picked up a GMT-2C on vacation in St. Thomas for $6k. List at the time in the states was $7k, as I recall.
I really wanted the ceramic SS Sub Date but they weren’t available yet, only in TT.
I sold it 4 years ago for $6k, as it was pretty much market value then.
Now that same watch is going for $10k.....
Unbelievable!

[ltmgeller]

I am blown away at the prices. I have a 16710 and a 16700 and would think the 16700 would go for more. I guess the more complicated movement in the 16710 makes it more valuable. I had several 1675s that I flipped because I wanted a sapphire crystal. If I had only held on to a couple of them.

[-lenny-]

I like RONR more than BLNR.

[Ihatecheese]

Watch fashion and Instagram is dictating the popularity of the Rolex with bezels. Any self respecting teenage hype beast is wearing s Rolex. If not Patek when they're actually an influencer, rap star etc.
This forum is predominantly a bit older and predominantly one socio-economic demographic going by the picture thread. So it doesn't see the wood from the trees sometimes. It's not collectors buying all the fashionable watches.

[sond86]

Ya it’s amazing. I seen some 16710’s from around d 2007-2008 offered for over 22k