Is NOS Rolex Pricing a Total Rip-Off?

[BristolCavendish]

Case in point. My first OP on TRF pertained to my having purchased a NOS 16610 from a jeweler who stopped carrying the Rolex line but had set aside a few models from his earlier days as a Rolex AD. I purchased the watch for around $5K brand new/with papers & factory warranty (sans the stock/older-style SS Glide Lock bracelet) and opted instead for NATO watchstraps due to work practicalities and economy. The former AD assured me that he could easily re-sell the SS Glide Lock as a 'factory replacement' and even threw in a few NATOs to complete the transaction.

I have now noticed that some AD's are asking around $12K for a NOS 16610. While I realize that jewelry retailers are in the business to sell watches, what's with that? It seems kind of greedy and I am grateful that this older/former AD sold me a 16610 at the current pricing of its time. He still made a reasonable profit on the watch and due to his straightforwardness, I will always be a 'return customer' for other jewelry-related items that he may have in stock.

While a 16610 can hardly be considered a rare breed, some AD's are now promoting and selling them as 'vintage collectibles' which seems like utter BS. To me, only a 4-digit reference (or older) Rolex can truly be considered vintage and the newer and heftier 6-digit models have now developed a strong and devoted following all their own. With their fading tritium and sapphire crystals, the 5-digit models fall somewhere in between and while I am completely satisfied with mine, it's kind of hard to fathom the hyperbolic 'spin' from certain AD's.

[jrs146]

IMHO yes. Unless you're talking about a true vintage and rare piece. But a NOS 5-digit to me is a ripoff because there are plenty of barely used models with full sets being sold without that premium. Plus, since I'd buy it to wear the stickers would come right off and immediately devalue the watch.


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[Wesley Crusher]

Something is worth only what people are willing to pay for it.

[The Libertine]

Originally Posted by Wesley Crusher

Something is worth only what people are willing to pay for it.

This. All day long.

[LuminousMaximus]

You hit the nail right in the head

[mtgjr]

The 16610 never came with a Glide Lock bracelet.

[BristolCavendish]

Originally Posted by mtgjr

The 16610 never came with a Glide Lock bracelet.

I was mistakenly referring to the venerable Oyster Lock with the 'flip-over' catch. Since I don't own/wear a Sub bracelet, I never got around to familiarizing myself with the clasp variations and thus the misnomer on my part.

[rootbeer7]

Like with a lot of things, there's us WIS and there's those with too much money ready to buy into these 'myths'.

[AK797]

Price of so many watches are now going thru the roof, something systemic is changing in the luxury watch market, no point crying over spilt milk just gotta work out if it is worth drinking.

[mementomori1983]

There is a market for NOS pieces and that's why prices are shooting through the roof -- from speculators, dealers, safe stashers, etc.

On the other hand, you have folks who put their watches through the rigors of daily wear. I'm guessing that this group would view the NOS premium as a total rip-off, given that they can get a lightly-used example of the same reference for 30-60% off NOS prices.

[Woody]

You always have a choice and don't have to buy. Personally I am happy to pay a premium for a NOS example.

[Mick P]

Chaps

If someone is happy to pay a ludicrous price, you cannot blame anyone for selling it at the said ludicrous price.

No one is forced to buy, it's purely the free market in action.

Regards

Mick

[Auto16610]

You got a great deal and you are moaning and groaning about other deals out there? Why not be happy and enjoy your purchase?

[Bigblu10]

Originally Posted by mtgjr

The 16610 never came with a Glide Lock bracelet.

This, and I have never ever seen one for sale for 12K. Unless it was a NOS Kermit LV

[sutats]

The underlying driver is nostalgia. Some of those who couldn't afford it then, now have the means and the opportunity to buy a new one now.

[enjoythemusic]

Originally Posted by Wesley Crusher

Something is worth only what people are willing to pay for it.

^^^^^^^^^ What he said. ^^^^^^^^^^^

[Bigblu10]

OP, just wondering why you would pay full price for a 16610 head and not want the oyster bracelet that comes with the watch. You do realize you basically gave the jeweler a free thousand dollars by letting him keep the bracelet. He made out like a bandit on that deal. NATOS and such are fine for alternatives, but pale in comparison to the original oyster bracelet the watch was born with.

[gregmoeck]

Wouldn't you love to see a v serial and a m serial sea dweller with full stickers....
Wouldn't you like to see an m serial sub no date and date with full stickers...
What about all 3 colors of milgauss nos....

We collectors have different fetishes lol

[Chewbacca]

I'd take a nos 5d over the equivalent 6d nine times out of ten. It was peak Rolex imhop.

[Likestheshiny]

Never estimate the extra money people are willing to pay to be the only owner of a watch. There's aren't many opportunities left to peel off the stickers on an older model, and some folks will happily pay a lot extra for it.

$12k for a brand new 16610 doesn't seem unreasonable to me. Perhaps it's overpriced, but if the seller is in no hurry I bet he gets close to that number sooner or later. It's not like you can walk into any AD and buy one. At the very least, I think we can all agree that the Op got a fantastic deal for his, seeing as used ones in nice shape can cost more than that.

[gregmoeck]

Rolex should have stuck with the old sub cases and just updated the bracelet minus those over sized buckle... the buckle on new subs is wayyy to bulky, also ceramic bezel sucks, the average joe can't swap the bezel anymore.

[BristolCavendish]

Originally Posted by Auto16610

You got a great deal and you are moaning and groaning about other deals out there? Why not be happy and enjoy your purchase?

Not complaining. Just pointing out the obvious price-gouging.

Originally Posted by Bigblu10

This, and I have never ever seen one for sale for 12K. Unless it was a NOS Kermit LV

FYI/Some examples. You be the judge.

http://www.sdwatches.com/product/rol...s-collectable/

https://www.watchcentre.com/product/...bp-16610/14710

Originally Posted by Bigblu10

OP, just wondering why you would pay full price for a 16610 head and not want the oyster bracelet that comes with the watch. You do realize you basically gave the jeweler a free thousand dollars by letting him keep the bracelet. He made out like a bandit on that deal. NATOS and such are fine for alternatives, but pale in comparison to the original oyster bracelet the watch was born with.

Because this 16610 is a 'work watch' and I am frequently around chain-saws and winches during the day. Oiling the blades + flying sawdust makes for a very dirty bracelet between the links and I have better things to do than go home and clean an Oyster bracelet after hours to avoid chronic 'black wrist'. A NATO is easily laundered and/or disposable. It's an occupational call rather than a fashion-conscious one.

As far as my getting 'juked' by the AD, he sold the watch to me at its 1999-2000 list price rather than jacking it up as others easily could have done. If he happened to come out ahead on the SS Oyster Lock bracelet so be it. I'm not going to dwell on minor issues. On the other hand, some AD's and gray market sellers charging upwards of $12K for an identical NOS example are getting a bit carried away IMHO.

[toucan]

I totally agree with you OP!

[NDAzone]

Originally Posted by toucan

I totally agree with you OP!

I don't.

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[GB-man]

Collector = great find

End user = huge ripoff

Which are you?

[rushca01]

Originally Posted by Chewbacca

I'd take a nos 5d over the equivalent 6d nine times out of ten. It was peak Rolex imhop.

I tends to agree, I love me some 5 digit references, specifically luminova dials with lug holes.

[bbressler]

No way I'd pay those NOS prices for a watch I'm going to wear and have it lose 2/3 of its value immediately. But if I was mega rich and the price difference meant nothing to me? Sure, it'd be awesome to have one that is brand new, fully stickered, etc.

[Glidelock]

Originally Posted by BristolCavendish

Not complaining. Just pointing out the obvious price-gouging.

Pffff...my man, price gauging is when someone doubles or triples the cost of gas, food or water in the midst of a natural disaster or war. Hardly compares to you having sour grapes over someone asking a premium (as ridiculous as it may be) for a luxury item that not only is not a necessity, but that most could never afford even at the original retail price!

[Likestheshiny]

As far as my getting 'juked' by the AD, he sold the watch to me at its 1999-2000 list price rather than jacking it up as others easily could have done.

Or you could just admit that getting an older price was an especially good deal. Would it really have been "jacking up" the price even to raise it to account for inflation? The rent on his store almost certainly didn't stay at 1999 levels. His staff are being paid more than in 1999. His utility bills are higher. He wasn't simply being fair -- he was being very generous. And to be honest, it sounds like you don't appreciate it.

[SearChart]

I really like the idea of buying a NOS 14060 or something of the like, but I'm not in a financial position to do so. But I would if my wallet was a little beefier.