Blown Away: New Submariner $7,250

[DanteBrandolini]

Hey All,

Does anyone else think that Rolex is going way overboard with the pricing increase of the New Rolex SS Sub. In Feb 04, I bought one for retail price of 4,250. I know how iconic the watch is and the new sub looks amazing, and they totally redid the sub and ungraded the hell out of it.
The new sub is pushing 8K with the tax!! If you think about it, thats unreal, in no time time, your looking at 10K for a stainless sub!! its a milestone if you ask me, Rolex is getting really pricy!! Ten grand for a Stainless Sub in a short time, how crazy is that??

Not that long ago (1996), I bought TWO brand new SS Subs dates for just under 7K, Now, just One SS Sub date cost almost 8k!! I miss the 1990's, Rolexes were such a bargain then!! Oh well!!!!!!!!

[Lol-x]

No doubt it is a lot of money and it does make a sore spot in your wallet especially if you have had years of previous experience and pricing.

[bayerische]

I think it's a bit much for a SS... Deep sea is more of a engineering marvel than the regular sub, so I guess it's price is justified.

[echau]

That's a pretty big jump. Wasn't retail on the 16610 $6,000 this past year?

[Cru Jones]

If they sell out each one they make, they can't be wrong....right? (gulp)

[DWdrummer]

What ever happened to Rolex watches being expensive, yes, but attainable to the average hard working man, who wanted the very BEST in a tool watch?

I remember my uncle telling use he had bought a brand new Submariner back in the 1960's and it was in the $200's for price or something. That was a nice chunk of change back then, but even adjusted for inflation, its nowhere near the $5500-6000 USD they charge today for a Submariner. Nowhere near.

As he told my brother and I, that was a lot of money back then, but you could certainly achieve it, if you wanted to.

Today in the scheme of things I suppose $5K is not that much money overall, however for a stainless steel watch that has remained only slightly changed over many years. Talking about the 16610 Subs here, its a bit much IMO.

I love Rolex, and I love timepieces, and at times even I sit here and WOW at the price of these things.

My uncle worked in the oil industry, then as a diver after he left the Navy. His Rolex saw a lot of hard use and abuse, and it ran through it all without a hiccup. That is what Rolex is known for. How many working guys today would be able to dump $5K on a watch, only to beat it to death using it as it was intended in the first place?

That being said, Im saving my pennies here for a Sub or SeaDweller ASAP.

Does that make me a bad guy?

[DanteBrandolini]

I totally agree with you drummer, nice story you posted I'm saving ever penny I can for a new Rolex DeepSea myself!! I can't wait!!!!

[Mystro]

Rolex is soo over priced now, I will never, ever, buy a new one again. Its not the money but the shameless greed Rolex so flippantly expects.

[PBL]

Originally Posted by DWdrummer

I remember my uncle telling use he had bought a brand new Submariner back in the 1960's and it was in the $200's for price or something.

The pricing is kind of interesting because a regular 10K gold filled Accutron was selling for $125.00 back in the 60's.

Bruce

[mtrunner]

$6,000 to $7,250 in one year is a bit much. It makes the current sub a steal. The unfortunate thing is they will still sell out at the $7250 price. The only way you will see the price change is people refuse to buy it at that price but you know that won't happen.

[Speed]

Lots of cash indeed. Solutions:
- don't buy it at all
- don't buy it at an AD
- don't buy new - wait for a good while and buy used!

[Zed Homme]

A lot of the price increase we've seen over the past 5 years can be attributed to the decline of value of the USD vs the Euro. In Jan 2010 the Euro cost almost 50% more than it did at the turn of the century. I've seen it happen with a lot of brands. The steady increase in the price of gold has played into this as well. However, now that the Euro is crashing, perhaps we will see an adjustment in pricing. It would be interesting if our Australian and European friends could chime in on the cost of Rolexes in their markets.

However, there isnt a doubt in my mind that Rolex and others are taking advantage of this by padding their prices as well.

[greekbum]

The over 6k for a SS common model is IMHO overpriced.I am sure they will sell every one they make but they will sell for 30-45% MSRP in the used market within 2 years IMHO.This to me is the new norm now.

[DanteBrandolini]

I totally agree with you Greek!!!

[JUSTROLEXES]

Prices are getting higher like everything else...
historically the SS Sub Sells for Just a little more then the GMT, So if were's paying $7000 for a SS GMT I can see the $7250 for the sub...

[psv]

So how much are you paying for a ss Panerai with in-house movement?

I also think the price increase is exorbitant but saying that Rolex is/should be reachable for your average working-class person is not correct. Rolex is a luxury watch maker, by definition they don't want their product to be had/owned by all, they rather target a smaller segment of the market where the profit margins are higher. Lots of companies do the same: Apple for computers, Porsche for cars etc.

If you want the new model, just wait a bit. Prices will settle down, at least on the grey and/or used market. I expect you can get one of those new Subs for around $6K a year from now (not very affordable either).

Makes the used prices on the Deepsea seem "affordable" all of a sudden! :-)

[Joey_V]

I suppose we should get on the train now before things get out of control and beyond reach.

Btw, doesn't Rolex donate a good amount to charity or foundations?

[chriseskew24]

I think that Omega if they are smart will start to flood the market to become what Rolex was 10 years ago A pricey tool watch. Now they are a overly expencive luxery watch IMHO someone will have to fill the gap between 300-500 dollar watces to Super luxery watches PP, AP & now Rolex. I will never buy a new Rolex watch ever from this point forward. They are not AP & PP and dont really know why they have chose priceing inline with them????? IMHO Omega is poise to take over Rolexs old market if they do some heavy advertising. And can recreate there image as one of the best tool watch makers in the world with tons of there own history.

Rolex is officialy beyond the working mans luxery watch now. Hell I could get a decent used car for there MSRP now. I will stick to Omega

Also flippers will take a much larger hit on resale IMHO in years to come.

[greekbum]

I would say less than 1% of Rolex buyers use the watch as a tool watch or bought it because it was a tool watch for use in their field.So I don't think Rolex is in the tool watch business.If you want a very good tool watch for the working mans $$$ look at a Sinn. Rolex is Rolex you either have 1 or you dont.

[sakuraba]

Originally Posted by Speed

Lots of cash indeed. Solutions:
- don't buy it at all
- don't buy it at an AD
- don't buy new - wait for a good while and buy used!

- get a PAM instead!

[chriseskew24]

Dont get me wrong I still love the history, inovation & style of Rolex and have owend many but just can not justify there new prices or flashy style. There are better options for me out there for far less money. At the end of the day paying over 7 Gs for a SS sub is just not my style. Rolex has officialy pushed me out of there market as I will not spend anywhere near that much for a SS sub.
Go Vintage for less and it will be worth more..
Good thing I have a laundry list of trusted sellers here on TRF

[Sgt. Henry]

Originally Posted by Cru Jones

If they sell out each one they make, they can't be wrong....right? (gulp)

Yes and the sad part is I still want one of the Darn Things!

[RolexADinFL]

It's $250 more than a SS GMT

What's the big deal. I don't hear too many people complaining about the SS GMT price.

ALSO, look through all the issues of "WatchTimes" magazine. Most of the other brands of SS watches they test are higher priced than Rolex and consistantly score LOWER in their test.

AD

[niner niner seven]

legit complaint BUT rolex is going to sell a ton of SS GMT-Cs. going to be best selling SS by far.

[Hooper]

Originally Posted by chriseskew24

I think that Omega if they are smart will start to flood the market to become what Rolex was 10 years ago A pricey tool watch. Now they are a overly expencive luxery watch IMHO someone will have to fill the gap between 300-500 dollar watces to Super luxery watches PP, AP & now Rolex. I will never buy a new Rolex watch ever from this point forward. They are not AP & PP and dont really know why they have chose priceing inline with them????? IMHO Omega is poise to take over Rolexs old market if they do some heavy advertising. And can recreate there image as one of the best tool watch makers in the world with tons of there own history.

Rolex is officialy beyond the working mans luxery watch now. Hell I could get a decent used car for there MSRP now. I will stick to Omega

Also flippers will take a much larger hit on resale IMHO in years to come.

Unfortunately Chris you may be right

[gmh1013]

Originally Posted by DWdrummer

What ever happened to Rolex watches being expensive, yes, but attainable to the average hard working man, who wanted the very BEST in a tool watch?

I remember my uncle telling use he had bought a brand new Submariner back in the 1960's and it was in the $200's for price or something. That was a nice chunk of change back then, but even adjusted for inflation, its nowhere near the $5500-6000 USD they charge today for a Submariner. Nowhere near.

As he told my brother and I, that was a lot of money back then, but you could certainly achieve it, if you wanted to.

Today in the scheme of things I suppose $5K is not that much money overall, however for a stainless steel watch that has remained only slightly changed over many years. Talking about the 16610 Subs here, its a bit much IMO.

I love Rolex, and I love timepieces, and at times even I sit here and WOW at the price of these things.

My uncle worked in the oil industry, then as a diver after he left the Navy. His Rolex saw a lot of hard use and abuse, and it ran through it all without a hiccup. That is what Rolex is known for. How many working guys today would be able to dump $5K on a watch, only to beat it to death using it as it was intended in the first place?

That being said, Im saving my pennies here for a Sub or SeaDweller ASAP.

Does that make me a bad guy?

I remember my father buying a Rolex Sub in Scottsdale in 1971 for like 275.00?...I thought that was high ....he had just bought me a Honda SL100
for 395.00 dollars a few weeks before.
I was thinking he could have almost bought a dirt bike for the price a watch.

[motoface]

a 20%+ increase in one year, particularly in this economy, is a bit much. Yes they have made improvements, but what other luxury products have increased that much in one year?

[kungpow]

Unfortunately it's high, but not surprising. A pam 312 is what...$7400??? Not sure if it's the right comparison, but 2 popular offerings from 2 luxury brands, both with in-house movements, at a similar price.

[greekbum]

If you look at the current market I see most if not all jewelry stores surviving or paying the bills on we buy gold.The vintage market in Rolex has taken a 30-50% dive in the last 24 months.New models in most parts are going at a 30-35% off MSRP if not more except Daytona. For those that dispute this list a watch for sale or look around at final sales,go to ebay etc. Service prices and parts have increased also. And the world is in an economic recession or depression in some parts with no growth in sight. IMHO Rolex has put themselves in a position or changed there business model of having to discount to sell and once this starts it doesn't stop look at Omega,Tag, etc who pays retail 1 out of 10 ? All in all it doesnt matter and those that want something will pay for it its the bottom line but I think the pool of those people has shrunk enormously.

[Mike B]

Originally Posted by chriseskew24

I think that Omega if they are smart will start to flood the market to become what Rolex was 10 years ago A pricey tool watch. Now they are a overly expencive luxery watch IMHO someone will have to fill the gap between 300-500 dollar watces to Super luxery watches PP, AP & now Rolex. I will never buy a new Rolex watch ever from this point forward. They are not AP & PP and dont really know why they have chose priceing inline with them????? IMHO Omega is poise to take over Rolexs old market if they do some heavy advertising. And can recreate there image as one of the best tool watch makers in the world with tons of there own history.

Rolex is officialy beyond the working mans luxery watch now. Hell I could get a decent used car for there MSRP now. I will stick to Omega

Also flippers will take a much larger hit on resale IMHO in years to come.

I agree with you 100%
I will NEVER buy a new Rolex. I did once in 2002, a SS sub date, and it was around $5,000 if I remember right. With the current asking price (7K +) I would never be able to afford one.
I WILL certainly buy another Rolex at some point, but it will be a LNIB one from a member here on the boards, and NOT at an AD.
As for Omega, I 100% agree on that as well.