No price hike here (in Saudi Arabia)

[RobW]

I live in Jeddah, Saudi Arabia, and every few months I go down to the Shoula Center on Madinah Road to check out the preowned Rolexes. About 30 shops sell hundreds of Rolexes. This last trip I was expecting a spike in prices similar to continuing trend of climbing costs of preowned Rolexes in the US and the UK. Much to my surprise I have found that prices remain pretty much the same here with certain models, especially the 36mm DateJusts, going for USD 500 to USD 1,000 less than in the states. A 43mm black 50th anniversary Sea-Dweller 126600 I had my eye on (but someone beat me to it) went for USD 11,500. Datejusts of the 1970s and early '80s vintage with acrylic crystals start at around USD 2,250. Mint condition examples of later models, say starting in the late '80s through the late '90s, can be had for as little as USD 3,000. Oyster Precision Date models in excellent condition start at around USD 1,600.

There are two problems, though, with buying vintage pieces at these prices. Virtually every 1970s or '80s watch I've come across needs servicing. They are also getting harder and harder to find. For 100 Rolexes with a sapphire crystal, I may find five genuine vintage pieces. Several shopkeepers have told me that there is little demand for vintage pieces, and only Americans and Brits buy the older stuff. Suffice to say there are not a lot of us here in the market for preowned Rolexes.

I picked up this DateJust 16013 with its aftermarket crystal and stretched Jubilee bracelet for USD 2,400. The movement is in great shape but needs a cleaning. Still, it's a pretty good price compared to what I see on Chrono24 and here on the forum's sales corner.

[TimeToGo]

Once you add a service, crystal replacement (or whatever else) and overhaul of a loose bracelet, it is no longer a $2,400 watch..

As long as you are happy, that is what matters. But you are correct, finding good prices on exceptional pieces are quite a task..

[RobW]

Absolutely true!

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[R!$]

I am finding prices similar to you in USA

DJ is very hard to sell

[RobW]

Sure, I agree. But not in the numbers and condition I see here. My watchmaker in California offered to source me a 16013 serviced for $3,500. He said it was the best price he could do. I found similar models on Ebay for $2,600 or so but servicing the movement is always automatical with those sales and they are a little rough or authenticy might be suspect. Here in the KSA Saudis shed older watches like shirts. It's always the newest thing for buyers here so conditions of watches generally speaking are pretty pristine.

If you ever went through the usual websites (Beckertime et al) six to eight months ago you'd find plenty of Datejusts under $3,000. Not anymore.

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