Were Rolexes really more affordable in the good old days?

[Soultime]

Originally Posted by Zakalwe

Here you go.

I haven’t read it in a while, but the short answer is “yes, for steel watches”.

To the OP.
Probably the most relevant graph for those not reading the whole thing...

[mrarchiegoodwin]

Originally Posted by Zakalwe

Here you go.

I haven’t read it in a while, but the short answer is “yes, for steel watches”.

Thank you for the link! It gave me a 3.5 hour diversion from my work (I even missed lunch).

[mrarchiegoodwin]

Originally Posted by WWC

At MSRP it was cheaper to get I believe. With these inflated SS professional models definitely not cheaper these days.

Thank you. I have been looking and learning that. Wonder what will happen in the next recession?

[mrarchiegoodwin]

Originally Posted by trfChris

A gold day-date (AKA President) is around ~$36k, so about half a teachers salary. Equivalent to around $1250 when your father bought his. So the price relative to this baseline has increased by around 50% if your father bought his for $800. Seems fair considering there have been a fair amount of upgrades to movement, case construction etc since then.

Thank you. I agree. I see from the link provided by Zakalwe that the increase in price for gold did not affect the price of a Rolex as much as other factors.

[mrarchiegoodwin]

Originally Posted by SilverJackHammer

A friend of mine told me he paid $1,000.00 for his Submariner in 1981, and he said he still has the receipt and the box. He said he has worn that watch all the time, he has even worn it while he was welding.

He did say after 5 years it started to slow down and he sent it in for a rebuild which cost him $500.00 but it has kept perfect time since. He said it has been a great purchase

An old friend has his father's Pepsi from when it was purchased for under $1000. I must ask if he has ever had it serviced.

[chieftd]

Originally Posted by AboutTime

One of my friends bought his GMT "Pepsi" in the PX during his military days in the 1960-70 era. I believe he paid something over $200. He still wears the same watch.

I was contemplating buying a GMT Master Pepsi from the BX in Germany back in 1983. It was $650. At the time that was a months pay for me and I decided to not do it. If I had only known.

[mrarchiegoodwin]

Originally Posted by oldman2005

Your dad was living large in the old days being a teacher with gold DD and Ferrari. Now here in the Bay Area California, you can't even afford to rent a home with $72K a year. With a family of 3, you're bordering poverty. Maybe that's why many people want to bring back the good old days a.k.a "Make America Great Again".

You are absolutely correct. I was oblivious back in those foggy days. He inherited money and enjoyed spending it all. When in the Bay Area I warn friends that we are living in a pot of water and don't realize that the heat is on.

[mrarchiegoodwin]

Originally Posted by AboutTime

One of my friends bought his GMT "Pepsi" in the PX during his military days in the 1960-70 era. I believe he paid something over $200. He still wears the same watch.

Thank you for your post. Don't you admire people who can buy one watch and live with it? Alas, if I were only so sensible.

[mrarchiegoodwin]

Originally Posted by rominvicta

Definitely PPP speaking Rolex became less affordable for markets in NA and Europe. Though from Rolex point of view they got so many new markets - China, Sing, HK etc, that they always gain on sales figures. Last but not least you may easily claim they are Masterminds when it comes to marketing. So yes, their market share should have increased significantly, even more the influence of the brand on the market. Literally speaking first quarter of 21st century is the Golden Age for Rolex. Looks like second quarter will become the Precious Metal Age for Rolex! It is just a matter of time PM Rolex to become even more sought after than SS one! Wish ‘em all the best, Rolex brand really deserves it!

Thank you for posting. I appreciate all those new (relatively) affluent buyers in East Asia, but worry about the next recession turning things upside down again.

[mrarchiegoodwin]

Originally Posted by LoveTheCrown

In 1995 I paid approx $5k for a brand new Rolex SS date and approx $3,500 for a used date just with jubilee bracelet. I don’t know what they equates to in modern day money. But what I vividly recall is the availability of the Rolex models. The AD always had a full rack of all models. That’s the biggest difference that I’ve noticed


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Thank you for that perspective. I never experienced such prices. Wish I had been buying watches in 1995. Back then I was wearing my one and only watch--an old Accutron.

[mrarchiegoodwin]

Originally Posted by SearChart

I could have bought a brand new 14060M for €4000 in 2012

Thank you for introducing me to another model number. So many to keep in mind

[mrarchiegoodwin]

Originally Posted by kieselguhr

Well in 2013, you could find 16610LV going for average $6500-7500. Sometimes even in the low $5000. I took a hiatus and now find them going for $13,000 minimum.


AOW

I can relate to that. The previous time I looked at watches was around then. I remember several Subs I liked that were under $5000--a TRFer even advised me that 5513s should never cost more than $5000. No longer.

[mrarchiegoodwin]

Originally Posted by roadster198

There was a man on Americas Antiques roadshow with a watch from this era. It’s not him was it?

https://youtu.be/li0mRLcGbU8

Thank you. I had never seen that show before. The Rolex owner's reaction is heartwarming.

[mrarchiegoodwin]

Originally Posted by bezler

His aunt was the teacher. His father wss the Ferrari guy.

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My father always bought things to counter boredom or unhappiness. I think my aunt got more satisfaction from life.

[Paul7]

Originally Posted by SilverJackHammer

A friend of mine told me he paid $1,000.00 for his Submariner in 1981, and he said he still has the receipt and the box. He said he has worn that watch all the time, he has even worn it while he was welding.

$2,817 in today's dollars. With modern CNC machining it can't cost them more to make. Don't know if its true, but I've heard it cost them about $800 to make a sub. Of course, hundreds of retail stores, advertising and celebrity endorsement contracts aren't free.

[mrarchiegoodwin]

Originally Posted by J-E

Please tell me he still owns that Ferrari....

Thank you for asking. Nope--all gone. Back then they became used cars very quickly. He got it to replace an ageing 300 SL (that was very reliable, but not the cool looking gullwing) and Lancia Spider (that was not reliable). But when he got an Aston Martin the Ferrari (3 years old by then) lost its luster. The DB5 (also a convertible) felt more solid and roadworthy and was definitely very reliable--and had a backseat. When his friend (car friends--might be like watch friends) got a DB5 "Transition" (a pre-DB6) convertible my dad wanted that one because the interior was niftier. But his DB6 turned out to bigger and clunky. Etc., but no Lamborghinis because they did not make convertibles. Who would have known that old cars would become collectible? Or watches?

[mrarchiegoodwin]

Originally Posted by Boaters

Those were the days wish they were back.

They were good..and not so good. In my old age I am grateful for many conveniences that were not available. I recall my great grandma telling me what a comfort it was to get flush toilets! How about that for the good old days?

[mrarchiegoodwin]

Originally Posted by Onikage

Prices have taken off in recent years. That I didn't get into the little suckers sooner is my only regret.

Me too. But it happens. On the other hand, I recall buying a watch for near list price and see the price go up the next year and then keep climbing. Watch dealers on TZ emailed asking if I wanted to sell it. I had not considered selling a watch. A couple years later the price tumbled. Oh well.

[mrarchiegoodwin]

Originally Posted by PeterC4

Really large....

His friends were living larger. I was just an occasional spectator.

[Joemck]

Originally Posted by padi56

Well today IMHO Rolex are no longer watches to be bought and enjoyed now by many little more than £££££$$$$.But today most all could buy a Rolex watch if they wanted too.But back in my days, and my Fathers days it was a lot harder to do.

I have a very special Rolex now my Father was fascinated with watches and
I can thank him I suppose for the watch bug.Now I can always remember,when I was quite a young lad, my Dad saying one day he will have a Rolex.Now myself at the time, had no idea what a Rolex was,my Dad saved hard and had about 3 other jobs eventually in 1980 he bought a Daytona 6263 for around £750 but not 100% sure, he wanted a Sub but the Daytona was cheaper and they gave him a £25 discount.At the time this watch, was quite a bit cheaper, than the other sports range,but still a lot of money.He was very proud of this watch,and it was only worn on special occasions.Dad was always a hard worker but suffered with ill health for most of his short life.Dad had 14 brothers and two sisters,a very large and close nit family.Now this 6263 is not a watch to me, its part of my Dad,and coming close, to his passing anniversary, thought I would share a part of his life with you all.Now thats what should be owning a Rolex today its not all about £££$$$$.

My Father was a miner for almost 40 years,but alas he died at the age of nearly 56 years.He suffered with his heart and chest after WW11 he lied about his age he was just 16 not quite 17,and although a collier,in then a reserved occupation.He joined the navy and was on aircraft carriers HMS Furious and HMS Glorious.Now the Glorious was attacked by the German battle-cruisers, Scharnhorst and Gneisenau and a direct hit in her magazine,caused her to sink.Out of a compliment of of around 1500 men there were only 39 recorded survivors.My Father was reported missing,presumed killed in action.But was picked up by a Norwegian fishing boat, after being in the sea for almost many hours.And with out a shadow of a doubt that experience, and 35 odd years in the mines after WW11 helped shorten his life.My Dad was a very strict, but fair, private man and did not complain about his illnesses.When he died, it was just like I lost my best friend,and now myself in the mid 70s, I still miss him.And in the 6263 a small part of him lives on,this watch is very special to me,and would never part with it.

Thank you for your story. I’ve always appreciated your insight over the years. I just lost my father after bringing him thru surgery, ICU and rehab only to loose him to an infection. He was 82, former army and a union plumber. The pain is still raw & the hole in my life palpable. Appreciate your sharing.

[dnpina]

OP. Yes. Yes they were.

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[mrarchiegoodwin]

Originally Posted by padi56

I have a very special Rolex now my Father was fascinated with watches and
I can thank him I suppose for the watch bug.Now I can always remember,when I was quite a young lad, my Dad saying one day he will have a Rolex.Now myself at the time, had no idea what a Rolex was,my Dad saved hard and had about 3 other jobs eventually in 1980 he bought a Daytona 6263 for around £750 but not 100% sure, he wanted a Sub but the Daytona was cheaper and they gave him a £25 discount.At the time this watch, was quite a bit cheaper, than the other sports range,but still a lot of money.He was very proud of this watch,and it was only worn on special occasions.Dad was always a hard worker but suffered with ill health for most of his short life.Dad had 14 brothers and two sisters,a very large and close nit family.Now this 6263 is not a watch to me, its part of my Dad,and coming close, to his passing anniversary, thought I would share a part of his life with you all.Now thats what should be owning a Rolex today its not all about £££$$$$.

Thank you for sharing your amazing story. I too hope contemporary life can be more about values. You made me recall Dylan Thomas reading A Child's Christmas in Wales: "I said some words to the close and holy darkness, and then I slept."

[mrarchiegoodwin]

Originally Posted by Unclebuck

There's lots of pictures of early astronauts wearing GMTs. As Air Force employees, I'm sure they didn't buy luxury watches.

I also wonder about the US Navy's UDT frogs, most of whom (of the ones I knew) wore Rolexes.

[mrarchiegoodwin]

Originally Posted by shawn13ca

Back in the days a lot of America was working on manual labor. No need for a watch, especially a good one. So as demand was slow prices were reasonable. Now good jobs are desk jobs, and everybody can wear a status symbol to work. So prices are up. Normal economy.

That may be correct for many who buy the brand, but similar to others who post here, I am pretty sure TRFers are less interested in the status conferred.

[mrarchiegoodwin]

Originally Posted by Nikita70

You also have to take into account the purchasing power of the currency you are using. I can’t speak to other currencies but the dollar doesn’t buy what it used to. It buys less so it takes more to buy goods and services.

Thank you for sharing. Perhaps from time to time it's due to inflation and exchange rate.

[Juantxo]

If I'm not mistaken, in 1984 a two-tone Dayjust was $1,500. A month's salary for many people. How much is it now?

[mrarchiegoodwin]

Originally Posted by The Libertine

An unassailable fact that pricing increased over the years.

The interesting price history charts seem to bear this out.

[mrarchiegoodwin]

Originally Posted by Mlioon

My father paid $3,500 for his flat 4 kermit new, when it came out

And now he probably would not sell it despite the price increase.

[mrarchiegoodwin]

Originally Posted by Headshrinker

I paid around $600 for my 1680 Sub, while working in a jewelry shop in the 1970s. It didn’t seem that hard for a high school student with a part-time job cutting grass and getting a generous discount with my employee status. Now, $10,000+ seems a tuff mountain to climb for any younger buyers.

Why didn't I do that in the 1970s instead of the 2000s?

[mrarchiegoodwin]

Originally Posted by JDsnewwatch

I believe that Rolex is still a good buy considering inflation and insecurity in the financial markets..

The danger that needs to be recognized is that this is a finite situation. At some point, the market will correct. This can happen in a few ways.

1) Rolex quadruples production (look at what happened to Movado)
2) Rolex starts direct selling as opposed to using ADs (Gibson and Fender Guitar companies are trying this)
3) Rolex lessens the quality (I doubt this will happen, but countless other companies have done this)
4) The end user falls out of love**

*think about when you were growing up, did most of the guys in school or at work wear watches? Look around today, the guys 18-25 don’t wear watches as a general rule anymore. That leaves the buying of watches to those older than 25. Can the trend turn back? That’s tough to do.



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Will watches go the way of the antiques market?