Which Rolex made you the most money, and which one was your biggest loss?

[handyhsl]

Just wanna ask those who has owned Rolex, in terms of $, which Rolex made you the most money, and which one was your biggest loss?

Rolex style: (sample answer: Submariner 16610)
Period owned: (sample answer: 1998 - 2003)
Profit/loss: (sample answer: profit $2500 / loss $1700)
If you did lose some money on this watch, did you still enjoy having the watch, was it worth it?

I thought this would be very very interesting for newbies, like me.

[DanteBrandolini]

In 1997, I bought a Brand New Gold Sub with black dial from an AD in Miami, The retail price at the time was 19,250. They knocked off 3000 bucks, and i got it for $ 16,000. Anyway, a year later in 1998, I got my hands on a brand new SS white dial daytona for $ 5,100. I was on a waiting list for 18 months.
So, now I had my daytona, I didnt wait the gold sub anymore.

Anyway, I was in NYC at the time, and I spent 3 months trying to sell my Gold Submariner, I went to a million dealers all over, and NOBODY would make me an offer of more than $ 6000.00 for the all gold sub. Remember, retail was $19,250, amd no one wanted it, some jerk dealers were offering as low as 4 or 5,000. Anyway, I gave up on selling it for a year. I finally found someone a year later who gave me 9,000 for the sub, so I bit the bullet sold it, and took a huge loss. Now, in 2010, gold sub retails for 30K. So, anyone who buys it for 30k today, and probably would be lucky to resell it for 10 or 12K. Beware on the all gold subs. A Day date would be a much better investment.
Anyway, The SS daytona i bought for $ 5,100 in 1998, I resold it for 11K in 2002. Win some, lose some, thats important life lesson here!

[sakuraba]

I haven't sold any of mine yet, just a couple of trades. Checking out what's for sale at TZ and here, I can tell you my watches have already appreciated in value.

However, I really didn't buy for the profit. If I did, I would have bought vintages that I would be afraid to wear (because I'm weird that way ) rather than the moderns that I have and enjoy.

My personal lesson: buy what you want on your wrist and not an "investment". You'll have more fun that way.

[padi56]

Originally Posted by sakuraba

I haven't sold any of mine yet, just a couple of trades. Checking out what's for sale at TZ and here, I can tell you my watches have already appreciated in value.

However, I really didn't buy for the profit. If I did, I would have bought vintages that I would be afraid to wear (because I'm weird that way ) rather than the moderns that I have and enjoy.

My personal lesson: buy what you want on your wrist and not an "investment". You'll have more fun that way.

Have to agree Rolex watches are for wearing and not for just thinking about,how much profit anyone can make..

[DRAWTOOL]

I own 4 (count'em, 4) Rolexes, 2 modern & 2 vintage. They are not for sale, they are for me to wear and enjoy. I am in no way a "Rolex Investor".

[greekbum]

Who cares which Rolex made you the most money how about which Rolex has given you the most satisfaction and that's something money cannot buy
For me its this 1

[rkb]

Had a Tudor Sub model 7928 from 1964. New price was around 50 bucks and I received it as a gift. Sold it almost two years ago for 4500 and purchased my new Explorer.

Sold a DJ four years ago, I think I left a little money on the table on that deal...

[timetravel125]

I haven't made money yet from Rolex. And, I am pretty sure, I won't in my case.

[rolexgiants]

Originally Posted by greekbum

Who cares which Rolex made you the most money how about which Rolex has given you the most satisfaction and that's something money cannot buy
For me its this 1

obviously he cares.... thats why he asked the question

[handyhsl]

Yes I agree.. I care more for the enjoyment, but it would be very interesting to hear stories of profit and loss as well. Dante's story was great.. we can see that he really loathe that gold Sub in the end. He would never buy all gold anymore.
After all, I think I will enjoy it more thinking that my watch has actually gone up in value, although I would never sell it.
Keep posting your stories, guys..

[tbudd]

I owned a President (Yellow Gold) about 11 years ago. Paid slightly over 15k (with AD discount), considered selling it about a year after purchase. The best offer I could get from a jewelry exchange was 10k. I kept it, ended up loosing it while playing tennis, insurance reimbursed entire 15k. I would have taken a HUGE LOSS if I had sold it.

As far as the most money made, it was a wash, was my SS Daytona. Bought it full price from AD, sold it for 100$ over purchase price a year later to private dealer. Unfortunately, I did not have the discipline to avoid flipping in those days.

Now....my GMTIIc I purchased at the end of '07 and it will probably never leave me. Best of the best IMHO!

[handyhsl]

that's a new trick haha.. :) so if you are selling your watch but can't get good price, then just lose it :D j/k

[tbudd]

Anyway, I was in NYC at the time, and I spent 3 months trying to sell my Gold Submariner, I went to a million dealers all over, and NOBODY would make me an offer of more than $ 6000.00 for the all gold sub. Remember, retail was $19,250, amd no one wanted it, some jerk dealers were offering as low as 4 or 5,000. Anyway, I gave up on selling it for a year. I finally found someone a year later who gave me 9,000 for the sub, so I bit the bullet sold it, and took a huge loss. Now, in 2010, gold sub retails for 30K. So, anyone who buys it for 30k today, and probably would be lucky to resell it for 10 or 12K. Beware on the all gold subs. A Day date would be a much better investment.

Dante.....

I think anything gold will not hold it's value anything like SS. I agree, based on your experience with your gold sub, the President I had (bought for 15k with AD discount, could not get more than 10k from a jewelry exchange, 1/3 of value lost) did hold it's value better, but relatively speaking, gold will always "loose value" much more and much faster than SS.

It is sort of like buying a Mercedes brand new (Mercedes=gold) and a Honda brand new (Honda=SS). The value of the Mercedes/gold drops dramatically after purchase to get to the real value vs. the Honda/SS has a short dramatic drop in value then stabilizes very quickly. Looking back you had spent (and lost) a ton of money on that Mercedes/gold and you spent a relatively low amount on the Honda/SS and still end up with the same thing:

A quality, reliable car/watch. You just paid a very different price for each.

I know I am preaching to the choir on this forum, but it is very easy to loose sight of this fact with the outstanding product Rolex produces. I have made a personal decision to never buy a Gold Rolex new again for this reason. When I get the itch to go back to a President some day, it will undoubtedly be purchased from this forum!

[tbudd]

Originally Posted by handyhsl

that's a new trick haha.. :) so if you are selling your watch but can't get good price, then just lose it :D j/k

True story! The catch is you must file a police report for the insurance company to reimburse. I tell ya, I looked for that watch for HOURS!! They actually had closed the tennis facility and turned out the lights and me and my tennis partner were still looking! Finally gave up and called the local police, filed a report sent it in to the insurance, VIOLA, I had a check in the mail in less than two weeks!

Needless to say, thanks to their great service, I have the same insurance to this date with all of my cars and homes covered through them. I was very thankful! After that, they had a customer for life!

[George Ab]

Rolex has been good to me. Seadweller $2,600 in 2004 and traded for a PAM 177 this year which has a market value of $4,200. Speedking $550 in 1995 and sold for $1,400 in 2002. Handful of others (Sub no-date, Air King, and Date Just) that I each made a couple hundred on.

Previous to my current collection I have owned 21 desirable watches, and have made money on 20 of the 21. The only watch I ever lost money on was a gold plated Oris. I deserved to lose money as what was I thinking buying a gold plated Oris in the first place. Mid 90’s impulse buy in Hong Kong, in my pubescent WIS stage.

The intent has never been to make money, but to enhance the collection.

[tbudd]

Handy,

Oh, by the way, hard to beat the functionality of the GMTIIc. Best Rolex I have ever owned bar none! And I have owned many! The new sub will be a work of art (I tried on the SS/G version and it was impressive!). But really, the same impression I have of the GMTIIc with the addition of the functionality.

But......I am not a diver and have absolutely no use for a dive watch. Besides, if I ever do take up diving and I dive deeper than 100 meters, that will be one for the record books! Plus, there is no way I am going to intentionally take a watch that costs 8k+ into an environment where I may loose it....insurance or no insurance. There are much cheaper and just as reliable alternatives for watersports. If you are a frequent hardcore diver...go for it!

Just food for thoughts and my two cents. Happy hunting!

[handyhsl]

Originally Posted by George Ab

Rolex has been good to me. Seadweller $2,600 in 2004 and traded for a PAM 177 this year which has a market value of $4,200. Speedking $550 in 1995 and sold for $1,400 in 2002. Handful of others (Sub no-date, Air King, and Date Just) that I each made a couple hundred on.

Previous to my current collection I have owned 21 desirable watches, and have made money on 20 of the 21. The only watch I ever lost money on was a gold plated Oris. I deserved to lose money as what was I thinking buying a gold plated Oris in the first place. Mid 90’s impulse buy in Hong Kong, in my pubescent WIS stage.

The intent has never been to make money, but to enhance the collection.

wowww... that means you make money on ALL of your Rolexes.. i bet that enhances the good feeling about Rolex

[walds11]

Yeah, wow. It's funny, you never usually hear the stories of people losing money on watches.

Originally Posted by handyhsl

wowww... that means you make money on ALL of your Rolexes.. i bet that enhances the good feeling about Rolex

[padi56]

Well back in the early 1980s my father bought a Daytona 6263 he had saved up to buy a sub.But the Daytona 6263 was quite a bit cheaper than the sub plus they offered him a £25 discount, because know one wanted to buy the Daytona. And because they had it in stock for quite some time,now the watch belongs to me, but I would never sell it at any price it means too much to me.

[sakuraba]

Originally Posted by padi56

Well back in the early 1980s my father bought a Daytona 6263 he had saved up to buy a sub.But the Daytona 6263 was quite a bit cheaper than the sub plus they offered him a £25 discount, because know one wanted to buy the Daytona. And because they had it in stock for quite some time,now the watch belongs to me, but I would never sell it at any price it means too much to me.

Oh, to have a time machine...

[Kapture1]

Biggest loss was my Airking.

Going to hold on to my DJ for a long while.

[nauticajoe]

IMO flipping a watch will almost always be a loss - whether it be for monetary or sentimental reasons.
I buy my watches not for investment purposes, but merely to enjoy them on my wrist.
Now, if its not getting the appropriate wrist time, there's no reason why it should sit in a safe. That's not what they're meant for.
Just my

[dweb]

Originally Posted by handyhsl

Yes I agree.. I care more for the enjoyment, but it would be very interesting to hear stories of profit and loss as well. Dante's story was great.. we can see that he really loathe that gold Sub in the end. He would never buy all gold anymore.
After all, I think I will enjoy it more thinking that my watch has actually gone up in value, although I would never sell it.
Keep posting your stories, guys..

I agree fully with all the comments about 'buying what you enjoy wearing, irrespective of resale value.'

Your comments, however, about getting more satisfaction from an appreciation (or at least a 'hold' on value) in price are spot on also. I feel it would be disingenuous for most to claim otherwise. It is a nice little perk for sharing a taste for something that others hold in high regard (at some point in the future). If someone (as noted in a previous comment) offers you a fraction of what you paid for your watch, it insults your personal taste as well as your bank account.

[handyhsl]

That's exactly what I think! It's good to know that others are willing to pay more and more for your watch.
Let's hear more great / not so great stories!

Originally Posted by dweb

I agree fully with all the comments about 'buying what you enjoy wearing, irrespective of resale value.'

Your comments, however, about getting more satisfaction from an appreciation (or at least a 'hold' on value) in price are spot on also. I feel it would be disingenuous for most to claim otherwise. It is a nice little perk for sharing a taste for something that others hold in high regard (at some point in the future). If someone (as noted in a previous comment) offers you a fraction of what you paid for your watch, it insults your personal taste as well as your bank account.

[handyhsl]

anyone else wanna share your stories? :)

[Sixxgrand1]

...and I am sure I am not alone on that one! But I sure enjoyed wearing that Rolex - still a very special model, but I do not miss it...

[Green Arrow]

Made money on the Rolex I wore for 22 years.

Lost money on every single watch I've flipped since then.

If watches were about money, I would just buy one, and wear it for two to three decades, and just stop there.

Mostly I find that the best place to make money is in the workplace. Not watches.

[Rolex Junky]

Work is for making money. Rolex is just for fun.

[bryan572]

I never have considered my SS/Platinum Rolex Yachtmaster an investment, but only as a cherished luxury that I love. I plan on passing it on to my son someday after i'm gone with a message engraved to him on the case back. I hope he cherishes and enjoys it as much as I will have. I've had this plan in mind since the day I bought it.

[buke45]

I am an art collector and in art collecting it is common to make money on deals with other collectors or buyers as long as you spend the profit you make on more art.
For Example- If you find an old (1972) 1680 18K Black dial all original for 3K and you sell it to buy a TT white dial Daytona with the profits. That is true collecting the key is to always make your collection better.. http://www.rolexforums.com/images/smilies/twitcy.gif