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25 June 2019, 07:46 AM | #1 |
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Fair Value for this 1966 Rolex 5513?
I know someone I have done business with who told me he is selling a 5513 he bought while he was in the army during his service in Vietnam. He told me he was offered $5k from HQ Milton and declined it. He said he would sell it to me for $12k.
So we met and I started looking it over. It has been re-lumed :( The insert appears to be an aftermarket :( If not, the insert isn't period correct and the pearl is new :( Bracelet is a 7206 with 80 end links. Domed acrylic was replaced as well :( I was going to offer $8k cash but don't think even that high is fair for this piece. This piece is from 1966 and was serviced in 2015. What would be a good price that both of us could feel comfortable with? Or should I pass completely on this piece? I was recently thinking I'd probably end up with a 14060 or 14060m because I'd rather spend more money on a 1016 than a sub. And then this popped up. https://imgur.com/a/4hBhAwS |
25 June 2019, 08:04 AM | #2 |
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That thing is wicked green. Who re-lumed it?
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25 June 2019, 08:12 AM | #3 |
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He didn't know. It's really too bad. He said he always had it serviced at the Rolex store on Post in SF. Maybe they did it. He was a little embarrassed as I think he realized this is affecting the values today. BTW, the thing glows like crazy.
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25 June 2019, 08:19 AM | #4 |
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The dial and hands will either have to be replaced or re-lumed again. That is going to be costly. Does it have box and papers or is it just the watch? If just the watch then I think the $8K is fair. $12K is way too high with that green lume IMO.
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25 June 2019, 08:40 AM | #5 |
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Sad to see this re-lume job...
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25 June 2019, 08:41 AM | #6 |
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No box or papers! But I could have him write up a letter about when he bought it and for how much. It was on his wrist through Vietnam which is cool.
Looking at the cost of dials and bezels, I'm not so sure I want to move forward. I have read here about some nice relume jobs, but I have no idea how much that would cost. Any estimate? I guess I'd choose this over a 14060 despite its flaws. But don't want to pay too much. Would $7k be a "good" deal given the issues? |
25 June 2019, 08:42 AM | #7 |
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Garbage....only worth 5k max
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25 June 2019, 08:43 AM | #8 |
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25 June 2019, 08:51 AM | #9 |
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Its easily worth more than 5 grand. HQ Milton offered that because of their margins and marketing required to resell. Private party it will sell for more easily.
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25 June 2019, 09:00 AM | #10 | |
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And I don't want to rip him off either. Right now, I'm thinking about $7k would be a good deal for both of us given the circumstances. |
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25 June 2019, 09:44 AM | #11 |
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Maybe it’s the photo but the top left lug looks very bad. 7k sounds pretty fair. I'd personally offer around 6.
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25 June 2019, 10:48 AM | #12 |
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It sounds like you’re trying to convince yourself to buy this based on price. Considering the dial and hands need to be fixed and sourcing of a correct bezel...that’s not considering the case at all. The dial is about 70% of the value. Even if you fix the bad lume job, it still impacts the value to a degree I wouldn’t be pleased with owning this piece and the uncertainty of value I could recoup if ever decide on selling or trading for something else down the road.
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27 June 2019, 07:12 AM | #13 |
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Looks like the seller knew about the dial and insert. I offered him $6k and he said he would keep it, after which he said that Jacek at HQ would only spend $5k because it would be a frakenwatch and he didn't have time for any projects. So he knew exactly what it was and was hoping I'd be clueless and offer more. Looks like I dodged a bullet. I guess I wasn't close to buying it though.
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27 June 2019, 07:17 AM | #14 |
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That's a nasty looking dial.
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27 June 2019, 09:18 AM | #15 |
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Yeah. Not much to like there. Not even for parts.
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27 June 2019, 11:16 AM | #16 |
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27 June 2019, 11:53 AM | #17 |
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27 June 2019, 12:00 PM | #18 |
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That whole deal would have been bad. You likely wouldn’t have enjoyed it and would have had trouble selling or trading in the future
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27 June 2019, 12:00 PM | #19 |
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HQ Milton's offer of 5 k seems fair. It would be a hard sell other than as a project watch.
I know Rolex aims to return watches to their original integrity at service, but it's a real disservice to customers who don't know the vintage market. They're losing thousands of dollars in value and paying through the nose for the privilege. |
27 June 2019, 02:10 PM | #20 |
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Actually, I'm a little bothered to learn that HQ Milton made an offer for this watch. It makes me think that they may have a little chop shop action going on in the back. If it was a trade-in offer, I could understand it.
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27 June 2019, 04:18 PM | #21 |
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The trade in offer was $7,500 towards a new 2019 Pepsi which would require an additional $17k in cash. But this is all from a seller that was hoping I was naive, so I really don't know what to believe.
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27 June 2019, 04:39 PM | #22 | |
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27 June 2019, 10:42 PM | #23 |
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7.5 plus 17k means new Pepsi is 24.5k???? That’s Daytona pricing wtf
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27 June 2019, 11:28 PM | #24 | |
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I can’t help wondering if someone had launched a law suit upon discovering they’ve had their value removed by not having original parts returned. Yes, I know that Rolex clearly states that you won’t get your parts back but they do not state that this could dramatically decrease the value of your watch. This is not a secret and Rolex is certainly aware of this by now. I’m no lawyer and I’m not a litigious man by nature but I would think that one could make a strong case. Sent from my iPhone using Tapatalk |
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28 June 2019, 02:34 AM | #25 |
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Oh, I agree. I just can't imagine them putting this watch on their website in its current condition.
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28 June 2019, 02:56 AM | #26 |
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I don't see anything wrong with putting the 7206 on another watch. That's what they were probably interested in, although that is just my guess.
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