Rolex 5512 Square Guard Offered

[Erpin]

I just got an offer for a very rare 1959 Rolex Submariner 5512 with the square crown guard. The watch comes with its original box and papers. Asking price is much more than the last one auctioned by Christies in 2013 which went for $207K.

[swish77]

Much more than $207K? I'd rather buy a vacation home, although that's a beautiful-looking 5512.

Can you post photos of the full set?

[Sublovin]

What??
Much more than $207,000...wow. You're a serious collector if you are considering that. Cool watch, but what!?!?

[Vincent65]

Are you going to buy it?!

[Erpin]

I am not sure really but I may consider buying it as an investment. I have to give it some serious thoughts and would appreciate the advice of experts in this great forum.

[Tomas Eriksson]

If you have the means it recon it's a pretty solid investment. Original box and papers is pretty much unheard of.

[PVR]

Show the pics of the B&P's...

[Wesley Crusher]

I would not buy any watch as an investment, no matter how rare. If you have the means to buy such an expensive watch and you want it, by all means, buy it, but I would think long and hard about why you're buying it.

[R.W.T.]

Originally Posted by PVR

Show the pics of the B&P's...

+1

For that dough claiming box and papers it better have a timing cert.

[Sublovin]

Originally Posted by Wesley Crusher

I would not buy any watch as an investment, no matter how rare. If you have the means to buy such an expensive watch and you want it, by all means, buy it, but I would think long and hard about why you're buying it.

This is reasonable. I understand there might be times you do it....but a quarter million for a watch that originally sold for a few hundred?? Who knows, maybe it will keep going up, but if I owned one, I think now would be the time I would sell!

[Cantab]

With all due respect to Sublovin, that logic isn't always correct. The husband of a well-known vintage racer bought John Surtees Ferrari 250 GTO for $6,500 in the mid-60's. In fact, he claims that he bought it with funds from a used car loan, complete with coupon book. You might want to check current market values for that model Ferrari. To introduce a dose of reality, however, there are very few parallel examples of that sort of transaction. So, one can win a lottery, but statiscally impossible. Trying to recreate that would be difficult, to say the least. But back to the original issue, is this watch a good investment? Wish I knew, my crystal ball remains cloudy.

[Michael M.]

Not an investment quality example IMO...

[Sublovin]

Originally Posted by Cantab

With all due respect to Sublovin, that logic isn't always correct. The husband of a well-known vintage racer bought John Surtees Ferrari 250 GTO for $6,500 in the mid-60's. In fact, he claims that he bought it with funds from a used car loan, complete with coupon book. You might want to check current market values for that model Ferrari. To introduce a dose of reality, however, there are very few parallel examples of that sort of transaction. So, one can win a lottery, but statiscally impossible. Trying to recreate that would be difficult, to say the least. But back to the original issue, is this watch a good investment? Wish I knew, my crystal ball remains cloudy.

Agree...and I am well aware of the value of a 250...having trouble comparing that to a Submariner, but your point is accurate. There are many examples like that from cars to baseball cards....
As I stated "who knows". I would certainly hesitate buying in at that price, but to each their own .

[jban5]

I think "investment grade" condition is directly affected by rarity. If this watch in its original configuration with the squared off crown guards is only one of 100 the minor issues with use dings, etc. would be more easily overlooked.

Did this model originally have a red triangle? If so then I think that would have more effect than the minor condition problems. Is the seller representing this watch as having a certain percentage of 100% authentic and original parts? Are they identifying any discrepancies?

Not to push too hard for information as I couldn't assess whether any price is too much but how much more than the last sale price is the seller asking?

[Sublovin]

Another thing to consider is the market of potential buyers. This applies to anything...
For example, to us LW Cantabs analogy with the Ferrari. How many people are in the market to spend millions on a rare Ferrari...if recent auction results are an indication, the answer is quite a few.
How many are in the market to spend $300,000 + on a rare Rolex Sub? I don't know...but it certainly seems like a reasonable question that you should have a handle on before "diving" in.

[Vincent65]

Originally Posted by Sublovin

This is reasonable. I understand there might be times you do it....but a quarter million for a watch that originally sold for a few hundred?? Who knows, maybe it will keep going up, but if I owned one, I think now would be the time I would sell!

There are postage stamps that were originally sold for... erm... 'a penny'.
That's a tiny rectangle of monochrome printed paper, with some glue on the back.
Seems like some have sold for over half a million quid!

http://www.mirror.co.uk/money/7-worl...stamps-5430217

[Lordofrolex]

If you're actually buying a 207K+ watch i wouldn't be asking an online forum for advice on it. I would get hire a professional vintage watch expert to inspect it making sure it all checks out.

[GGGMT]

Man, if you got $207k+ to drop on a sub, I'd think investment return on the piece would be of little concern!


Sent from my iPhone using Tapatalk

[sprezzatura]

Originally Posted by Lordofrolex

If you're actually buying a 207K+ watch i wouldn't be asking an online forum for advice on it. I would get hire a professional vintage watch expert to inspect it making sure it all checks out.

This.

[jban5]

Actually I don't see this so much as a request for advice, maybe opinions or suggestions but I don't view erpin as some newbie who wants someone to tell him what to do.

If he was asking for advice I'm sure that he would offer much more info in the way of images at least.

I've seen his postings here and on other forums and it appears to me that he is a knowledgeable collector and one who knows how to put himself in the position to locate these gems and acquire them.

Sharing these finds on the forums isn't a bad thing, I would think.

JMHO

[Cantab]

I agree with jban5 in the above post. I would rarely, if ever, see such an unusual watch.
Thanks, Erpin.