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Old 20 November 2020, 05:00 PM   #1
Rolaxxx
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Icon7 Advice on first Rolex: how much would you pay for a 1970s Datejust?

Hi everyone,

I am a novice, yet a watch enthusiast. I am looking to get my first Rolex, and as much as I want it to be brand new, I am just not there yet financially. SO, comes the question:

I am being offered by a trusted source a late 1970s 18k yellow gold Datejust with a President bracelet. It’s 36 mm and has a fluted bezel and a champagne dial. It’s been serviced last about 5 hrs ago. It has some wear and tear from use and bracelet stretch - no box or papers. I may want to resell down the line. It will cost me somewhere between 5500-6000.

Any advice is appreciated! :)
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Old 20 November 2020, 05:35 PM   #2
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Old 20 November 2020, 06:11 PM   #3
Ihatecheese
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:) Check out chrono24 would be my best answer- Bring a Rolex pro with you for the sale so they can review the authenticity. I wouldnt pay much for a 50 year old watch with no history, whatever it said on the dial
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Old 20 November 2020, 07:30 PM   #4
Richard Carver
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LOL, 50 year old Rolex can be quite nice. :)



You should post your questions in the Vintage Rolex section of the forum. Get some pics if possible.
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Old 20 November 2020, 08:44 PM   #5
330ci
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:) Check out chrono24 would be my best answer- Bring a Rolex pro with you for the sale so they can review the authenticity. I wouldnt pay much for a 50 year old watch with no history, whatever it said on the dial
Considering the price of gold, hard to go wrong .
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Old 20 November 2020, 09:44 PM   #6
1William
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I doubt that this watch is a forever keeper and as a watch to enjoy and pass time with it might not be the best of choices. Older watches have a certain charm to them but the down side is service, parts, maintenance and trying to resale them in a market that does not have a lot of benchmarks for such watches. I would look to a much newer watch that is complete with box, papers and an active warranty that you would enjoy wearing. The market is great for buyers for a 36 mm Date Just and they are a classic. Go with the fluted bezel and Jubilee bracelet with the classic Blue/Black/Silver/White dial and you will have a watch to wear and enjoy and one that at worst, will be static in the market. Good luck and let us know what you decide.
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Old 20 November 2020, 10:24 PM   #7
Toronto Soup King
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18K 1601 on stretched bracelet for $5-6K sounds like MY kinda watch frankly, ha. And I don't have a DJ...

But seriously, a newer one might be a better choice for a daily wearer. I just like gold
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Old 20 November 2020, 10:37 PM   #8
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Originally Posted by 1William View Post
I doubt that this watch is a forever keeper and as a watch to enjoy and pass time with it might not be the best of choices. Older watches have a certain charm to them but the down side is service, parts, maintenance and trying to resale them in a market that does not have a lot of benchmarks for such watches. I would look to a much newer watch that is complete with box, papers and an active warranty that you would enjoy wearing. The market is great for buyers for a 36 mm Date Just and they are a classic. Go with the fluted bezel and Jubilee bracelet with the classic Blue/Black/Silver/White dial and you will have a watch to wear and enjoy and one that at worst, will be static in the market. Good luck and let us know what you decide.
Very good advice. I wouldn’t recommend a vintage watch for someone as their first Rolex especially as a daily wearer. Too many pitfalls for a newbie to understand.
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Old 20 November 2020, 10:54 PM   #9
330ci
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Very good advice. I wouldn’t recommend a vintage watch for someone as their first Rolex especially as a daily wearer. Too many pitfalls for a newbie to understand.
He gets a couple ounces of gold, and a movement worth $1500-2000$ And it’s freshly serviced? What possible pitfall could there be? Worst case he ends up flipping it and making a few bucks.
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Old 20 November 2020, 11:24 PM   #10
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I wouldnt pay much for a 50 year old watch with no history, whatever it said on the dial
I suppose maybe there's some logic in that if you know absolutely nothing about vintage watches. But, as an across-the-board rule? Really??
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Old 20 November 2020, 11:58 PM   #11
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Very good advice. I wouldn’t recommend a vintage watch for someone as their first Rolex especially as a daily wearer. Too many pitfalls for a newbie to understand.
Right! For the price you're looking to pay, you can probably find a 15-20 year old 162xx model with the 3135 movement and a sapphire crystal. Enjoy the hunt for whatever you decide.
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Old 21 November 2020, 12:22 AM   #12
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Originally Posted by Rolaxxx View Post
Hi everyone,

I am a novice, yet a watch enthusiast. I am looking to get my first Rolex, and as much as I want it to be brand new, I am just not there yet financially. SO, comes the question:

I am being offered by a trusted source a late 1970s 18k yellow gold Datejust with a President bracelet. It’s 36 mm and has a fluted bezel and a champagne dial. It’s been serviced last about 5 hrs ago. It has some wear and tear from use and bracelet stretch - no box or papers. I may want to resell down the line. It will cost me somewhere between 5500-6000.

Any advice is appreciated! :)

Very recent....
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Old 21 November 2020, 12:23 AM   #13
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Quote:
Originally Posted by Rolaxxx View Post
Hi everyone,

I am a novice, yet a watch enthusiast. I am looking to get my first Rolex, and as much as I want it to be brand new, I am just not there yet financially. SO, comes the question:

I am being offered by a trusted source a late 1970s 18k yellow gold Datejust with a President bracelet. It’s 36 mm and has a fluted bezel and a champagne dial. It’s been serviced last about 5 hrs ago. It has some wear and tear from use and bracelet stretch - no box or papers. I may want to resell down the line. It will cost me somewhere between 5500-6000.

Any advice is appreciated! :)
If you're willing to spend $5500-$6000, why not get one of the new colorful OPs? So apparently you can afford new. Unless you're only wanting a gold model....
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Old 21 November 2020, 12:33 AM   #14
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I wouldnt pay much for a 50 year old watch with no history, whatever it said on the dial
Did I accidentally wander into the wrong forum?
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Old 21 November 2020, 12:57 AM   #15
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There's absolutely no reason why a 1970's Datejust won't continue to run faultlessly for many years. There are thousands of such watches still operating as such all over the world. Just comes down to it having been serviced properly.

The price sounds reasonable for a solid gold Datejust IF it's original and in good condition. If you could post some photos on this thread you'll no doubt get some advice on that. I'd personally prefer a vintage Datejust with a bit of charm over a sterile, off-the-shelf modern piece.
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Old 21 November 2020, 01:07 AM   #16
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Pics would be great, but it sounds like a decent buy given the price of gold right now. A rolex is a rolex whether it's new, or 50 years old. They are timeless and nobody will ever walk up and say that it looks too old and you should get a new one... lol. I parted with a 6 digit sub to get an excellent condition 5 digit president and couldn't be happier. The nice thing about it is if you get tired of it, it's always worth something to get what you want.
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Old 21 November 2020, 02:17 AM   #17
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How much does condition mean to you? I would keep looking because there are hopefully still a few well loved ones out there priced accordingly.
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Old 21 November 2020, 03:54 AM   #18
lhendrickson
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Very good advice. I wouldn’t recommend a vintage watch for someone as their first Rolex especially as a daily wearer. Too many pitfalls for a newbie to understand.
I'll admit that my first Rolex was an early 70s 1601 and it wasn't until later that I realized that the bracelet wasn't "correct" (it dates from July of 1977 and, as such, is not the "correct" folded end links kind) and I took one that has a service caseback. Neither of those facts really hurt the value of this watch and are pretty irrelevant for Datejusts on the whole. Any issue with those parts not being "correct" has more to do with personal preference than anything else. And, other than that, wearing it for the last four years and change has been issue-free.

In all, my experience with vintage has been so positive that I'm currently setting aside some $$ for a 5513 from 1989 (birth year ). I am sure there are many horror stories out there however, having purchased this watch from a reputable San Francisco vintage dealer that came highly recommended, I wasn't in the least bit concerned.

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There's absolutely no reason why a 1970's Datejust won't continue to run faultlessly for many years. There are thousands of such watches still operating as such all over the world. Just comes down to it having been serviced properly.
This. My experience has confirmed this as very true.
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Old 21 November 2020, 03:56 AM   #19
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If it was serviced within last five years, does the seller have that documentation? That would go a long way in making me feel better about the purchase.
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Old 21 November 2020, 05:23 AM   #20
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I have a handful of these (steel, four- and five-digit DJs), and really like them. My personal experience is that they run very well, are relatively easy to service. It was very common to replace dials and bezels on these, so it's all about whether you like the look of the watch.

I personally don't think the asking price is way out of line for a recently serviced 18K vintage piece. As others have said, you would want to confirm the service history.
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Old 21 November 2020, 06:14 AM   #21
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I would go for it


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Old 21 November 2020, 06:32 AM   #22
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Second the suggestion for the OP to go and take a look at the new OP 36mm.
New watch, 5 year warranty, no worries. Gives you some time to research and find a nice DJ.

OP w/Oyster + DJ Fluted w/Jubilee would be a great combo.
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Old 21 November 2020, 10:07 AM   #23
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Second the suggestion for the OP to go and take a look at the new OP 36mm.
New watch, 5 year warranty, no worries. Gives you some time to research and find a nice DJ.

OP w/Oyster + DJ Fluted w/Jubilee would be a great combo.
Makes sense. Surprised so many are recommending a very vintage Rolex watch for a first time buyer looking for a daily wearer.

I love vintage Rolex. But I eased my way in slowly after buying modern and learning about the nuances of vintage Rolex over the years. And the vintage Datejust reference is probably the most nuanced with all the variations within the variety of references; especially those in the era that the OP is considering such as the 16XX series.

Pick up a nice preowned five or new six series SS datejust or Explorer from a trusted TRF seller. Going vintage on your second purchase would be my suggestion.
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Old 21 November 2020, 10:47 AM   #24
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You don't say why he is a trusted source.

Assuming that he is, find a jeweller in your local area that is a trusted name and take the watch there for a verification. Some will do it in goodwill and some may charge for the service.

Even if your source is trusted , as in a good friend... unless he is an expert.. he may not be aware of any changes made to the watch if he wasn't the first owner. You should at least know this much.

I'm going to guess ... but my guess is that the bracelet did not ship with this watch originally. Many were sold then as head-only. ... and if someone was going to spend on a presidential bracelet, why not have bought a 1803 then?

That's my other guess - unless you both know how to look at gold assay marks, there was also a practice then of people having real 18K gold bracelets made aftermarket to fit to their watch... so if you are a novice, you won't know this.

The other end of options are to take it to a rolex service centre and get it serviced. They will do a verification for authenticity... but this option will run you at least $1000. If you go this way, don't ever let them change the dial / hands for new ones ... that will devalue your vintage.

I don't know what you are after... but if you aren't after solid gold, you might be better off buying a newer two-tone datejust reference like a 16233 with papers ... it won't cost you US$5k I would think ... and buy it from a reputable resale dealer.
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Old 21 November 2020, 11:21 PM   #25
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Considering the price of gold, hard to go wrong .
The price of gold on the precious metals market has very marginal, if any, affect on the market price of a preowned gold watch. If it did, a preowned late gold Daytona would be valued at a lot more than a late model SS Daytona.
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Old 22 November 2020, 12:18 AM   #26
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The price of gold on the precious metals market has very marginal, if any, affect on the market price of a preowned gold watch. If it did, a preowned late gold Daytona would be valued at a lot more than a late model SS Daytona.
Your missing the point, your telling a guy to buy a stainless steel watch, intrinsic value $.25?

Intrinsic value of a gold Rolex case and bracelet ~$5,000.

The fact is, the name on the dial is irrelevant. Gold is gold. The watch is always worth something, and should he need to ever cash out, he will have a much easier time selling, as worst case, he can scrap it and sell the movement! A DJ movement sells for $1,500-2000. Add in the scrap gold and boom you’ve got a winner.

People here are giving horrible advice. this watch has lost all the value it will ever lose, and people are telling him to buy models that have never been more expensive.

I was taught to buy at the bottom of the market. And I’ve never lost money on a watch.

As for the Daytona market, this has been nothing more than fools with money for years, and really a niche. Look at solid gold DateJusts on presidential bracelets, they’re still 2-300% of their SS counterparts. Which again, puts this in the great deal category.
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Old 22 November 2020, 12:33 AM   #27
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330ci, I’ve never owned a gold Rolex. Do you find it more enjoyable to wear than your steel sports watches ? I hope you don’t mind me assuming you own both!
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Old 22 November 2020, 01:06 AM   #28
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330ci, I’ve never owned a gold Rolex. Do you find it more enjoyable to wear than your steel sports watches ? I hope you don’t mind me assuming you own both!
No gold Rolex with bracelet, I had a 6567 in 14kt which was much heftier than my 1005, and 5501 that I both wore on straps often.

I have an omega constellation in 18kt on bracelet and the weight is incredible. My favorite watch I’ve ever strapped on. Having a watch milled from gold billets is completely different than the cast cases of yesteryear with steel case rings and wafer thin lugs. Even compared to my Patek, which is very hefty, I find these type cases more enjoyable to wear and fancier from an engineering perspective.

I have a SS 1603, they’re going for $3.5-5k regularly. I’d add 1500 to $2k on top to get a gold version in a heartbeat given the opportunity.

I’d buy the watch presented to the OP if it were offered to me as well and it was what he says it is. Forum opinions don’t change the fact that there’s plenty of people out there who would pay $8-10k for such a watch.

Quite a few looking for presidential bracelets for head only watches, and 18kt DJ heads fetch pretty fair money on their own. Or just sell it as a set as it’s not entirely uncommon to see the DJ/president bracelet combo. I feel like it happened a lot in the 80s, Most have been parted by now, but was fairly common to see them pop up 5-10years ago when these regularly traded for slightly over melt.

I think a SS DJ is like $8k at the AD today, just any way I try and find a comparison to make this look like a bad deal I just think of more reasons why this is probably a great first Rolex. Not to mention the dial options, you can probably still get a wood dial for it from RSC, I know a saw a pic of Searchart posting one he got.

The cool thing about Rolex is while the bracelet has been updated fairly heavily since, the watch case hasn’t really changed much. Lug holes case back then vs now, but the rest of the case is quite similar in spec and manufacturing process.
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Old 22 November 2020, 11:29 AM   #29
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If your description is correct, it should like similar to the attached photo.
The case should extend past the bezel between the lugs, just like on the President.
A reference 1601, possibly a 16018.

If the bracelet was junk, it would scrap out at $2'500. If it is reasonably tight, I just paid $4'400, just for the bracelet.

Then toss a gold Datejust on top of that.
Yes I would buy this watch.

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Old 22 November 2020, 12:39 PM   #30
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330ci, I’ve never owned a gold Rolex. Do you find it more enjoyable to wear than your steel sports watches ? I hope you don’t mind me assuming you own both!
My WG 1803 is more of a watch for weekends or when I'm feeling a bit fancy.

Instead of a gold DateJust, I'd save a few more pennies and go for a Day-Date.
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