Some quick advice for a first time buyer...and new member!

[Boss99er]

Hey guys,

I could use a little buyer consultation. At a shop local to me, I found this Submariner. It appears to be a ref. 16610 from 1989. The lume has a gorgeous creme color to it, and everything seems original. It has the outer box, papers, tags/charms but no inner box. Would $4200 out the door be a pretty good price for it? Its all finger printed up in the pics, but it looks like a fairly clean piece in person. No big scratches or dings. They also have no service history.

I know I need to do a bunch or research, and I will be, but I was hoping to get back to the shop owner ASAP, so figured I would bring it before you guys for help.

Thanks in advance! Here are some pics: http://imgur.com/a/7xFBr

[sirduncs]

Buy the seller not the watch, many say. You need to have ultimate confidence in the seller. In your situation I'd probably pass and keep looking, particularly in the sellers forum here. Plenty more fish. But hey, that's just my opinion!

[Old Expat Beast]

Price is good for a full set like that if the papers match the watch.

[Britexpat76]

Seems a fair price for a for watch to me. Are they a Jewellers shop? If so do they service or offer any warranty?

[Andad]

Nice flat 4 - looks ok.

Your decision IMO.

[zama]

Sounds reasonable to me, a great first Rolex in fact probably the only one you will ever need.

[Muzz]

Decent price, inner box is easy to get anytime you want one.

[Chadridv]

As others have mentioned if you have any trepidation about the seller, walk away. That is not a rare reference so another will come along.

But with that said, the price is fair, but if this jeweler doesn't offer a service warranty (or their service warranty isn't a good one) you should factor in a $600 overhaul at RSC. Price being closer to $4800. I would probably be willing to pay $3900 for that reason.

[watchnutty]

get him down to 4k flat and come in with cash. if he doesn't do business, walk.

[brandrea]

Welcome to TRF.

The price is good, IMO. Tell us a bit more about the store ... Are they an independent jeweller, will they let you authenticate the watch?

[Urosfan]

Welcome price sounds ok

[Boss99er]

Wow, thanks for all the info!!! I really appreciate it! I know the reference is common, but I feel like it fills a hole in my collection. Everyone needs a basic Sub, right?

The shop is actually a local pawn/jewelry shop. I've purchased quite a few pieces from them in the past, but never a Rolex. They will let me take the watch to the local Rolex dealer for authentication/service check, so I'll be doing that. Seeing as they have most of the kit, I trust them....especially since they'll allow authentication. I'll post what happens!!!

[Boss99er]

Just curious, has anyone else ever bought from a pawn shop?

[Chadridv]

Originally Posted by Boss99er

They will let me take the watch to the local Rolex dealer for authentication/service check, so I'll be doing that. Seeing as they have most of the kit, I trust them....especially since they'll allow authentication. I'll post what happens!!!

This sounds like a good plan. Keep us updated and best of luck!

[Boss99er]

Originally Posted by Chadridv

This sounds like a good plan. Keep us updated and best of luck!

Thanks bud!

Does anyone know how much an AD will usually charge for authentication/service check services?

[azguy]

Originally Posted by Boss99er

Thanks bud!

Does anyone know how much an AD will usually charge for authentication/service check services?

Good lucking getting them to do it. Think about, they are in the watch selling business and you want them to take on the liability that the watch is original and legit for what $50 or $100

[Boss99er]

You might be right. I've just heard that places will do things like this. Although, if it does indeed need service, I would go to them.....so they are potentially setting up new business. Not sure.

[Invictus Maneo]

Originally Posted by Boss99er

Thanks bud!

Does anyone know how much an AD will usually charge for authentication/service check services?

It probably depends on the area and the AD. I wouldn't go more than $150 and that would include an insurance appraisal letter for insurance purposes.
As others have said, probably better factor in a service for it as well. I'd contact Vanessa or Rik and save a few $$$ on that as well being assured that that you'll get top-notch service. RSC has been "sketchy" lately. Lots of "problem stories" with RSC coming to light as of late, IMO.

[Boss99er]

Cool, will do! Does Rik have a website? I'm very new to Rolex. I've been collecting vintage Seiko for a couple years, but this is my first Rolex, so learning the lingo.

Thanks!!!

Edit: I think I just found it. Is Rik at Time Care Inc? Seems that's who you're referring to.

[Boss99er]

Originally Posted by watchnutty

get him down to 4k flat and come in with cash. if he doesn't do business, walk.

I'm thinking about going in with $3500 before tax, on the premise that it's missing its internal box and just figure in a service. That would being me to around $3850 after tax and then add on $450ish for service from Rik? So, purchased and services around $4300.....not bad I don't think.

Edit: They'll likely counter offer I'm sure, so we'll see.

[Rags]

As states in previous posts buy the SELLER first. Do your homework & research the sellers to see who has impeccable reputations.

[Jim Smyth]

You may also want to consider using Rolex for the first service. You can buy the watch, send it to them for a service quote. They open it up, make sure all the parts are genuine Rolex (if not they tell you how much extra it will cost in addition to the service to bring it up to original specs) and then Rolex checks it against there Stolen watch data base which IMO is Huge!

Nothing like potentially buying a stolen watch from a Pawn shop. There's a long thread on here going on right now with that same scenario. At least if there's anything not right you get that out right from the start and may have a recourse with said pawn shop if something is wrong.

Also at $4200 I wouldnt expect to get it for much less that that. Its already priced at the bottom of the curve for that watch.

[Boss99er]

Originally Posted by Rags

As states in previous posts buy the SELLER first. Do your homework & research the sellers to see who has impeccable reputations.

Well, it's kind of funny in this case. The shop is a traditional pawn/jewelry shop. I've been buying vintage Seiko watches from them for about a couple years. I've got to know them pretty well and they know what I like. When they get something they think I would like, they give me a call. I saw this the other day right when they got it in. It came in on an estate sale lot. So....I (mostly) trust this shop, but they are NOT Rolex experts. I would essentially be banking on the fact the PO didn't abuse it. In this case, I can't really buy the buyer. Bad move then? It's essentially the "barn find" of the watch world. Ha ha.

[kjp1]

Originally Posted by old expat beast

price is good for a full set like that if the papers match the watch.

+1

[Boss99er]

Originally Posted by Jim Smyth

Rolex checks it against there Stolen watch data base which IMO is Huge!

Oh cool! So...what happens if it comes back stolen?!? Are you SOL? If this one didn't have the papers and all, I would be skeptical. But it has EVERYTHING. Even the store receipt.

[Boss99er]

Originally Posted by Jim Smyth

Also at $4200 I wouldnt expect to get it for much less that that. Its already priced at the bottom of the curve for that watch.

You're likely right. If I can get out the door for $4200 like he said, I would still feel good about it. But, still doesn't hurt to try, right? I'm assuming they gave almost nothing for it.

[bdex75]

If it comes back reported stolen on the Rolex database you are generally SOL. I believe they attempt to return to the registered owner. But it will not go back to you.

I say the price is fair if it is that complete. I would try for a few hundred more just because it will cover a box/part of service.

Either RSC or independent like Rik or Vanessa can authenticate but only RSC keeps the stolen database.


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[Boss99er]

Wow, that's scary! The fact that you could buy a Rolex and if it happens to come back stolen, no matter when or by who, you lose everything. I guess that's why you're careful who you buy from huh?

On that note though, if I do buy this watch, how do I become the "registered owner." Is there a registration service for used/second hand watches?

[sirduncs]

I bought my LV from a company called Miltons in the UK. They are a jeweler but also known for their pawnbroking. The LV I bought was a pledge and I bought it without papers but with everything else. No idea when last serviced but it runs just fine and the jeweler offered a 2 year warranty. I know Heywood Milton knows his Rolexes. So, like I said, buy the seller, then the watch. A month in (almost) and I still love having a genuine Rolex on my wrist. A great feeling! Happy shopping!

duncs

[Jim Smyth]

There is no data base for registering your watch. The only way to know for sure is with a Rolex Service Center visit. If it is stolen it becomes a criminal matter and follows protocol. Use a credit card for the purchase or Paypal or something to have another layer of recourse if your worried.

Its always a gamble unless you go directly to a AD and then you know 100% its real but you pay extra for that peace of mind. You can also do the service through a independent watchmaker. As far as I know there is no way they would know its stolen or not.

Thats why some of the advice you have gotten here so far about buying the seller is accurate advice.