5513...early 60's?

[Cloudchaser]

I have the opportunity to buy an old Rolex but know nearly nothing about vintage Subs. Getting pictures at all has been tough (dude is old and technically challenged and difficult to contact), so the attached picture is all I have at the moment.

The price is an amount that I'm not real worried about (if it turns out to be something awful I'm not going to cry) and the source is more than reliable (this old dude is legit!), however I've never ventured into these deep Sub waters before.

Can anyone tell me anything meaningful from this lone picture? I'm inclined to just buy it and figure out details later...which is likely what I'll end up doing here, but could someone perhaps narrow a year (or range)? It is a 5513 with a serial number of 1.6M. As a more modern watch guy, it just looks a mess to me...but I also understand that that has an appeal to some.

Thanks in advance!

[Aquaholic_user]

Holy cannoli, need more pics. Its grandpa's watch.

SM-N960U

[dhknola]

If you trust the seller, I would go get it if the price is right.
Definitely been polished but usually these have been.
Nice even fade, would be nice to see rest of dial text but you indicated seller is tech. challenged.
Looks like right long 5 bezel insert, no pip is no big deal.

[Dan S]

That could be a good buy IMO. Looks original and the lugs are pretty thick. Probably 1967ish.

[Cloudchaser]

Originally Posted by Aquaholic_user

Holy cannoli, need more pics. Its grandpa's watch.

SM-N960U

Right? I've been alternating between hopeful and skeptical. I'll post pics the moment I have it (have a long drive ahead of me).

[Cloudchaser]

Originally Posted by Dan S

That could be a good buy IMO. Looks original and the lugs are pretty thick. Probably 1966 or 67.

Thanks!

[kwcsports]

Looks good, I like it.

[btinl]

Looks like a pretty nice ~1967 5513.

[zapokee]

I'm liking it at first view, especially if the price is right. Are you willing to share how much he's asking for it?

[Cloudchaser]

Originally Posted by zapokee

I'm liking it at first view, especially if the price is right. Are you willing to share how much he's asking for it?

$3.5k. It's a story (worth telling when/if I have the watch in hand) that involves a dive hermit and a bit of a trek. Should be interesting. Will update ASAP!

[Dan S]

That's a steal. Literally.

[Juhuatai]

Holy shit 3.5k, oh man the watch is worth 4x that.

[Dan S]

Originally Posted by Juhuatai

Holy shit 3.5k, oh man the watch is worth 4x that.

Given the condition issues, I'm not sure it would quite make $14k, but your point is well-taken. The seller is leaving a lot on the table.

[zapokee]

Not to open a moral maze, but if it checks out and he's only asking for 3.5 k, he clearly doesn't know what he has...

[Juhuatai]

Originally Posted by Dan S

Given the condition issues, I'm not sure it would quite make $14k, but your point is well-taken. The seller is leaving a lot on the table.

I think with a new crystal and a good cleanse, the watch would look quite nice. The dial and hands look almost perfect. The insert is quite nice too. But yeah without the bracelet 14k is high. Regardless, the watch is worth quite a lot more than the 3.5k asking price.

[Cloudchaser]

Originally Posted by Dan S

That's a steal. Literally.

Addressing all of these very fair points at once...

As with most deals, I am entering skeptically and will emerge with either a fair deal or no deal. I will not fleece the poor chap; we will both make out well.

As someone else pointed out, he may not know anything about what he has, which puts he and I not far off.

However, getting this thing into salable condition is not going to be cheap.

[Juhuatai]

Originally Posted by Cloudchaser

However, getting this thing into salable condition is not going to be cheap.

Eh, I disagree. You could go to any dealer and they would snap it up immediately as long as the movement isn't rusted out. I'm pretty confident that given the condition of the dial it isn't.

But I commend you on your decision for a fair deal and not fleecing the guy.

[zapokee]

Originally Posted by Cloudchaser

I will not fleece the poor chap; we will both make out well.

Good on you.

[Cloudchaser]

Originally Posted by Juhuatai

Eh, I disagree. You could go to any dealer and they would snap it up immediately as long as the movement isn't rusted out. I'm pretty confident that given the condition of the dial it isn't.

But I commend you on your decision for a fair deal and not fleecing the guy.

Interesting...I have never gone this far vintage, so wanting to play it conservatively...figured it would be expensive like most things Rolex. I am venturing to guess, too, that without me being connected to the old timer by a friend, this would never happen otherwise.

As for the rest, I have reached an age where sleeping well is more valuable than an extra couple k on a watch deal.

[Cloudchaser]

Also, everyone, really appreciate the input (both in this thread and the archives!).

[Rocketman39]

My old War Horse 5513 was on my wrist for over 50 Years. Never missed a Tick. If you are not a date guy and I am not, it's a Great Piece. Mine traveled the World with me in War and Peace. Proudly owned since 1966. For that money I would grab it. It's the one that got the Ball Rolling IMHO. Have it rebuilt not by Rolex so it can stay original by a Watch Maker you Trust. Get after it !

[Cloudchaser]

Originally Posted by Rocketman39

My old War Horse 5513 was on my wrist for over 50 Years. Never missed a Tick. If you are not a date guy and I am not, it's a Great Piece. Mine traveled the World with me in War and Peace. Proudly owned since 1966. For that money I would grab it. It's the one that got the Ball Rolling IMHO. Have it rebuilt not by Rolex so it can stay original by a Watch Maker you Trust. Get after it !

[zapokee]

Originally Posted by Cloudchaser

...sleeping well is more valuable than an extra couple k on a watch deal.

Absolutely this. Pay accordingly or don't pay at all.

[Divingdeep87]

This is what i dream off! Would Trade my modern 114060 in a heartbeat for that.

[roh123]

Looks honest and nice. For sure a 10k++ watch.

[uncleluck]

It’s an interesting dilemma about price, $3500 is cheap in this market and I expect the originality would easily see someone bidding it over $10k?

There’s a good chance these watches could again be relatively worthless in years to come (just like other highly collectible watches that are now out of fashion) so if you buy it to keep I don’t see that as a big deal really.

The difference IMO is if you’re buying it to flip it for a profit and not keep.

Some people wouldn’t bat an eyelid at buying it to flip and make money on but it wouldn’t sit easily with me at that amount of money. Probably why I’ve never got any money as I’m too soft.

It also depends on the history of the watch and what situation the seller is in. Do they have family, do they have debts they don’t know they could pay off. If the guy bought it in a thrift store for $12 (like the kid earlier in the year) then I wouldn’t feel bad but if he was gifted it by his dad and he’s desperate for money and thinks “wow, I can get $3500 for this knackered old thing” then it’s a tricky dilemma.

Personally though I could sleep pretty easy if I bought it as I know I’d keep it! If I had to sell it in my life time I’d get back in touch and say it was worth xxxx more and here’s another $2k or something.

[Cloudchaser]

Originally Posted by uncleluck

It’s an interesting dilemma about price, $3500 is cheap in this market and I expect the originality would easily see someone bidding it over $10k?

There’s a good chance these watches could again be relatively worthless in years to come (just like other highly collectible watches that are now out of fashion) so if you buy it to keep I don’t see that as a big deal really.

The difference IMO is if you’re buying it to flip it for a profit and not keep.

Some people wouldn’t bat an eyelid at buying it to flip and make money on but it wouldn’t sit easily with me at that amount of money. Probably why I’ve never got any money as I’m too soft.

It also depends on the history of the watch and what situation the seller is in. Do they have family, do they have debts they don’t know they could pay off. If the guy bought it in a thrift store for $12 (like the kid earlier in the year) then I wouldn’t feel bad but if he was gifted it by his dad and he’s desperate for money and thinks “wow, I can get $3500 for this knackered old thing” then it’s a tricky dilemma.

Personally though I could sleep pretty easy if I bought it as I know I’d keep it! If I had to sell it in my life time I’d get back in touch and say it was worth xxxx more and here’s another $2k or something.

After your thoughtful reply, I almost feel bad saying I'll be flipping it. But I'll definitely be flipping it.

There is a balance to this, though; I don't know this guy but have been connected with him by a good friend who cares about him. If $3500 turns out to be too little or too much, we'll figure it out. And if by some blind stroke, I flip it for more than I think, then we will do right be the old timer and pay him more after the fact.

I would contend that most flippers like me, by default, operate at a more ethical base than most people would assume; the game is hard enough without burning bridges and leveraging people's age. With scarcity what it is, I need to be able to buy watches tomorrow, too.

It might be the wild, wild West in the flipping game, but I'm no free grazer. 😄

Thanks again for your reply!

[southtexas]

Originally Posted by Cloudchaser

After your thoughtful reply, I almost feel bad saying I'll be flipping it. But I'll definitely be flipping it.



There is a balance to this, though; I don't know this guy but have been connected with him by a good friend who cares about him. If $3500 turns out to be too little or too much, we'll figure it out. And if by some blind stroke, I flip it for more than I think, then we will do right be the old timer and pay him more after the fact.



I would contend that most flippers like me, by default, operate at a more ethical base than most people would assume; the game is hard enough without burning bridges and leveraging people's age. With scarcity what it is, I need to be able to buy watches tomorrow, too.



It might be the wild, wild West in the flipping game, but I'm no free grazer.



Thanks again for your reply!

Since you plan to flip and be fair to the old man seller, you could tell him what he has and sell it on consignment for him for a % of the sale price. Everybody wins.


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