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

[enjoythemusic]

Originally Posted by Wesley Crusher

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

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

[Rolex addict]

Originally Posted by Wesley Crusher

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

Winner, winner, chicken dinner.

[karmatp]

You have to be crazy to pay over MSRP on any Rolex watch period.

[BristolCavendish]

Funny how the acronym NOS used to mean 'shop worn' (aka merchandise lying around unsold). In the old days, those items were usually sold at a discount. Not so with Rolexes.

[luvan12]

Originally Posted by Wesley Crusher

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

This is very true.

[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.

[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

[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?

[AutoBay]

Originally Posted by 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

HA! Yep. I responded to a ludicrous offer from Govberg on a piece with exactly the same logic. Their pricing was stupid high, but I can't blame them for trying, I guess.

[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.

[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.

[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.

[MCO1]

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.

i was kind of thinking this too. I have watches that I never wear the bracelet on but I have it in my safe deposit box should I ever need or want to sell the watch.

In regards to the OP question....yes they are ridiculous prices but there are folks that will pay it and if folks will pay it then more power to the sellers.

[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.

[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.

[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.

[toucan]

I totally agree with you OP!