Plan to buy Rolex Submariner 116610LN

[lawler]

Hi all,

Been lurking here a few weeks now and researching as much as possible to further my knowledge on all things horological!

I currently own the Junghans Max Bill Automatic - pic below:



This is a lovely automatic but not practical long time as a daily wearer and is more of a dress watch so I have decided to start saving towards my first Rolex (116610LN).

I have decided to buy one of these pre-owned in the UK and start saving to buy this out right (hopefully I'll be able to pick one up from the forum!)

I am based in London and work as a Lawyer in the centre so would use this as a daily wearer.

Does £5000 seem like a ballpark figure for this watch in good condition with box/papers?

I do have a few month to save as I would like to pick it up for my 30th birthday later in the year.

Thanks for any help

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[JohnGreen300]

Originally Posted by lawler

Hi all,

Been lurking here a few weeks now and researching as much as possible to further my knowledge on all things horological!

I currently own the Junghans Max Bill Automatic - pic below:



This is a lovely automatic but not practical long time as a daily wearer and is more of a dress watch so I have decided to start saving towards my first Rolex (116610LN).

I have decided to buy one of these pre-owned in the UK and start saving to buy this out right (hopefully I'll be able to pick one up from the forum!)

I am based in London and work as a Lawyer in the centre so would use this as a daily wearer.

Does £5000 seem like a ballpark figure for this watch in good condition with box/papers?

I do have a few month to save as I would like to pick it up for my 30th birthday later in the year.

Thanks for any help

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Honestly with the 116610 might get a better deal going with a new AD one and waiting. Maybe difficult in the high demand areas but you will defiantly find an AD somewhere in the U.K. Who will get you one on a few months and 5-10% discount isn't completely impossible.

If you go for like new in box and you don't want to wait you'll probably pay RRP or more, but you'll get one quicker.

[lawler]

Originally Posted by JohnGreen300

Honestly with the 116610 might get a better deal going with a new AD one and waiting. Maybe difficult in the high demand areas but you will defiantly find an AD somewhere in the U.K. Who will get you one on a few months and 5-10% discount isn't completely impossible.

If you go for like new in box and you don't want to wait you'll probably pay RRP or more, but you'll get one quicker.

Thanks for this.

I don't mind waiting at all - what's the likely wait time for a new model from UK Ad and criteria usually for a waiting list?

Also on the warranty card do you have your name if buying new as opposed to just the serial number?

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[AK797]

For £5K I would join TZ-UK as they often have good prices but it will be an older watch and probably out of warranty. As this is a popular model and retail is now £6.2K, I think £5.5K will get you a very good condition almost new one and with the 5 year warranty. Your name is on the warranty if new from an AD or from a trusted seller here, but you won't get any discount from an AD these days unless they know you well, wait would be around 3 months on average I guess so you can list with a few ADs to get one in quicker.

[JohnGreen300]

Originally Posted by lawler

Thanks for this.

I don't mind waiting at all - what's the likely wait time for a new model from UK Ad and criteria usually for a waiting list?

Also on the warranty card do you have your name if buying new as opposed to just the serial number?

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Absolutely with the warranty card, new with AD it will have it your name on the card.

I can only go off my experience of a local AD, every AD can be somewhat different. If your approaching an AD in central London they may be getting several daily requests for steel models and they cannot get them all. So you might need a previous relationship or massive deposit to get on that list.

If you get out of the big shopping areas and into smaller AD's, you will defiantly get on a list and I'd be surprised if you had to wait more than 6 months.

[nobbylon]

If you check on chrono24 you're looking at £5500 for a UK sourced watch. I'd rather save an extra £750 and get a new one with full warranty. I doubt any discount anywhere on Sub' in the UK due to demand. I asked in London last September and no chance so I bought elsewhere.

[1William]

I can not speak to price or availability but I think you have selected a great watch for a first Rolex purchase. You will be impressed and the Glide lock bracelet is the best.

[TG3N]

£5,000 is a decent price – ‘Watchfinder’ & others are asking more. Really depends upon how old the watch is; is it a private or commercial seller; is the seller offering any warranty, and is it in need of a service anytime soon (that will cost you about £400-£500 as standard, every 5-10 years or so - so be sure to consider this when looking at older models).

The UK market is still experiencing high demand and a shortage of stainless steel Submariners, so prices for second-hand models aren’t much less than the new RRP – so much so I’d consider just buying a new example - though if supply increases you might then see the commercial sellers bring their second-hand pricing down a bit, but who knows. For just an extra £600 you could get the ‘No Date’ Submariner brand-new, but then for a daily wearer in the office you might want a Date display.

You have zero chance of getting any discount in the UK on a stainless steel Submariner.

Stainless steel Submariners are still scarce enough in the UK, but put the leg-work in and you’ll find some without a waiting list – try ringing regional ADs.

Buying one with box & papers will make your life a great deal easier if you come to sell it on later.

For a used Ceramic Submariner, it’s worthwhile bearing in mind that only watches sold by ADs after July 1, 2015 will have the new 5-year Rolex warranty. Submariners first sold from ADs between July 1, 2013 and June 30, 2015, get an extra year of warranty, extending the original two years to three. Therefore, you are best to target one that sold post July 1, 2015, or else one that has been recently serviced by Rolex, with two-year service warranty attaching.

If you’re even possibly considering buying new, then I wouldn’t hang-around too long. The late 2016 10% price increase was the first in the UK by Rolex since 2012, but the UK RRP is still cheaper than virtually anywhere else in the World, so I wouldn’t be amazed to see another upwards price correction by Rolex at some point in the next 12-18 months, particularly if the Pound weakens further as Brexit progresses. There’s a lot of hot air & guess work talked about price increases, but it’s generally a truism that Rolexes just continue to increase in RRP, much outstripping inflation, so best to not wait too long if buying new.

That Jungans is lovely, by the way.

[brandrea]

Welcome to TRF

[lawler]

Originally Posted by TG3N

£5,000 is a decent price – ‘Watchfinder’ & others are asking more. Really depends upon how old the watch is; is it a private or commercial seller; is the seller offering any warranty, and is it in need of a service anytime soon (that will cost you about £400-£500 as standard, every 5-10 years or so - so be sure to consider this when looking at older models).

The UK market is still experiencing high demand and a shortage of stainless steel Submariners, so prices for second-hand models aren’t much less than the new RRP – so much so I’d consider just buying a new example - though if supply increases you might then see the commercial sellers bring their second-hand pricing down a bit, but who knows. For just an extra £600 you could get the ‘No Date’ Submariner brand-new, but then for a daily wearer in the office you might want a Date display.

You have zero chance of getting any discount in the UK on a stainless steel Submariner.

Stainless steel Submariners are still scarce enough in the UK, but put the leg-work in and you’ll find some without a waiting list – try ringing regional ADs.

Buying one with box & papers will make your life a great deal easier if you come to sell it on later.

For a used Ceramic Submariner, it’s worthwhile bearing in mind that only watches sold by ADs after July 1, 2015 will have the new 5-year Rolex warranty. Submariners first sold from ADs between July 1, 2013 and June 30, 2015, get an extra year of warranty, extending the original two years to three. Therefore, you are best to target one that sold post July 1, 2015, or else one that has been recently serviced by Rolex, with two-year service warranty attaching.

If you’re even possibly considering buying new, then I wouldn’t hang-around too long. The late 2016 10% price increase was the first in the UK by Rolex since 2012, but the UK RRP is still cheaper than virtually anywhere else in the World, so I wouldn’t be amazed to see another upwards price correction by Rolex at some point in the next 12-18 months, particularly if the Pound weakens further as Brexit progresses. There’s a lot of hot air & guess work talked about price increases, but it’s generally a truism that Rolexes just continue to increase in RRP, much outstripping inflation, so best to not wait too long if buying new.

That Jungans is lovely, by the way.

Thankyou for your detailed advice.

I have placed myself on a waiting list with a wait of around 6 months.

If I am able to source a preowned piece in line with the warranty dates you suggest or a new one earlier than this, I will remove myself from the list.

As this is my first rolex, it may be worth 'biting the bullet' on new price and I would then at least have a warranty card in my name (small point but if I am keeping it long term that would be nice)

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[lawler]

Originally Posted by brandrea

Welcome to TRF

Thankyou. Glad to be here and hopefully become a long standing contributing member

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[R G]

Originally Posted by JohnGreen300

Absolutely with the warranty card, new with AD it will have it your name on the card.

I can only go off my experience of a local AD, every AD can be somewhat different. If your approaching an AD in central London they may be getting several daily requests for steel models and they cannot get them all. So you might need a previous relationship or massive deposit to get on that list.

If you get out of the big shopping areas and into smaller AD's, you will defiantly get on a list and I'd be surprised if you had to wait more than 6 months.

You're right about the wait and looking around but I think your advice on the discount may be somewhat unlikely.

Any SS 'sports' models, especially Subs and GMT's are in short supply, certainly in the UK. You've said it yourself, just to get on the wait list itself he may need a large deposit and/or existing relationship.

This chap hasn't got an existing relationship with an AD (this is his first Rolex) so therefore it would not make business sense for dealers to put a potential buyer through all of that and to then go on and discount - they will simply offer it to someone else willing to pay RRP. As you say, they get daily requests, so they will be waiting just a matter of hours, if not offering it to someone else on the list.

More recently, used models have been reaching higher prices by dealers.

OP, if your able to get to that amount that you've stated, I'd try to stretch just a little more and buy new, as advised by Johngreen.

[JohnGreen300]

Originally Posted by R G

You're right about the wait and looking around but I think your advice on the discount may be somewhat unlikely.

I get you completely, but would stand by my words that's not completely impossible.

[TG3N]

Originally Posted by lawler

Thankyou for your detailed advice.

I have placed myself on a waiting list with a wait of around 6 months.

If I am able to source a preowned piece in line with the warranty dates you suggest or a new one earlier than this, I will remove myself from the list.

As this is my first rolex, it may be worth 'biting the bullet' on new price and I would then at least have a warranty card in my name (small point but if I am keeping it long term that would be nice)

No problem, good luck with your search.

Do have a ring around – Subs are hard to find in London (due to tourists taking advantage of the tax-free bonus on top of already low prices), but you should be able to find one within six-months. UK users of this Forum occasionally flag on here when they see a Sub in an AD window, so keep an eye out.

Really, when it comes to a Sub in the UK at present, you may as well buy new, unless you can score a reputable private sale.

Also, this is an important buy for you, and given the much-inflated second-hand prices in the UK which mean the new price is comparable to the used, and because the Sub does not depreciate in value from new as steeply as other watches/brands, it’s one (rare) occasion when I can 100% recommend the AD experience – go along, get a pretty staff member to bring you a nice coffee, gouge them for a free umbrella, carry-pouch or Rolex magazine, and then get them to size the watch for free whilst you wait, meaning you can skip out of the store with a shiny Rolex on your wrist (and the Rolex bag inside a Tesco carrier-bag for security!). No better feeling to accompany that land-mark luxury watch purchase. Also, re-sizing the bracelet yourself can be tricky unless you’re careful & have the correct screwdriver – the threads use a light glue to retain the screws, and you don’t want to mar the case/bracelet yourself through a slipped screwdriver or chewed screw head!

Best of luck, it’s an iconic, brilliant watch that will serve you a lifetime & beyond.

[natosub]

Welcome to TRF, congrats on a great choice, and good luck on your hunt!

[SeaDweller50]

Having noticed that you do not have a date function on your existing watch you may consider a 114060 Sub instead. If you look hard enough, as I did you can pick up a BNIB for £5100 as I managed recently (up North). Good luck either way.

[lawler]

Has anyone ever bought used and wish they held out to buy new so their name was on the warranty card?

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[R G]

Originally Posted by AK797

you won't get any discount from an AD these days unless they know you well

This

Originally Posted by TG3N

You have zero chance of getting any discount in the UK on a stainless steel Submariner.

This

Originally Posted by lawler

Thankyou. Glad to be here and hopefully become a long standing contributing member
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Good luck on your hunt and let us know the outcome.

Originally Posted by JohnGreen300

I get you completely, but would stand by my words that's not completely impossible.

Everyone's entitled to their opinion.

[droptopman]

Welcome to the forum.
I rolled the dice and bought a used 2014 model and saved roughly $1000 - 1500 over new. I debated on buying Bnib with warranty but the seller was someone I had dealt with many times. In 30 years of wearing Rolex, I have never used the warranty anyways and even if something happens the 1000 I saved would cover the service.

[nobbylon]

Originally Posted by lawler

Has anyone ever bought used and wish they held out to buy new so their name was on the warranty card?

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I wouldn't care about the card but I am more interested in the fact that I was the one who scratched it up.

[watchwatcher]

Welcome. I will let my UK brothers speak as to what your best options are for 5k pounds. From reading some of the posts and doing some rough conversion pounds to dollars, it doesn't sound too different in the states.

Good luck and hope to see your incoming soon!

[Punchthefatkid]

Personally, for the extra money I would prefer to get a brand new watch from an authorised dealer.

That way, you know the full 100% history of the watch, Its your watch, nobody else's you know its not been dropped, mishandled or mistreated in any way and its 100% genuine Rolex.. no disrespect but some of these new Chinese replicas are so good it would be easy for anyone who wasn't all that experienced with Rolex to get stung on fleabay...

Try Prestons Boutique in Leeds, I was in there at the weekend talking about the exact same watch and was quoted around 3 months average wait time at the moment.

At this time of year, a lot of people are waiting for Baselworld in March to see if Rolex release any special editions or new models before committing to an existing model.

But if your happy that the 116610LN is the one for you then now is as good a time as any to get on the list.

Good luck either way

[jweald]

Check G Davison & Sons, 57 Broadway, Leigh on Sea, Essex.SS9 2BX. They have a great selection of Submariners including the 116610LN. I flipped my explorer for a 2015 116610LN model last year from there and paid £5150

[lawler]

I think I will hold out for a new model unless a good deal comes up on a preowned one (although very unlikely)

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[lawler]

Just to confirm - does the warranty card actually have the name of the initial buyer as it is not clear?

Really debating whether to buy new or pre-owned for 1/2 years.....

[SeaDweller50]

If you buy new you'll need more than 5K.

[lawler]

Why is it some warranty cards have the name of the initial buyer and some don't? Is it just a choice made when purchasing?

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[KingRichard]

Originally Posted by lawler

Just to confirm - does the warranty card actually have the name of the initial buyer as it is not clear?

Really debating whether to buy new or pre-owned for 1/2 years.....

Just so you know any warranty that is from the factory is void if the watch is not purchased from an AD. The AD is authorized by Rolex to provide you with a warranty as part of the sale...the warranty is sold to the buyer not to the 'second' buyer, which is essentially every watch on the grey market. So as for the warranty card...it may not have the name of the initial buyer but that name will be linked to the serial no. and cannot be transferred to another owner. This is all to the best of my knowledge and should be certainly considered when purchasing from a grey market dealer.

[strafer_kid]

Must say, I assumed the warranty on a new Rolex supplied via an AD was 'transferable' to a second owner etc and remained valid until its expiry date?