Submariner 5510

[zapokee]

Originally Posted by RolexGonz

He said he doesn’t want to sell.

I think we'll see it at auction once it's been properly evaluated, assuming everything checks out.

It's not wearable at this price point. All you can do is sell it.

[alwayshere]

Originally Posted by zapokee

I think we'll see it at auction once it's been properly evaluated, assuming everything checks out.

It's not wearable at this price point. All you can do is sell it.

tend to agree. Plus we have heard the story so many times before. People tend to buckle at $ end of the day. I would sell it if i was in his shoe.

[klou]

If it is worth as much as some people here think, I would be too scared to wear it. Hopefully, we’ll get a better idea of the condition and originality of it in a couple of weeks. If it ends up being worth less, I’d be better able to justify keeping it, and wearing it.


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[southtexas]

Originally Posted by klou

If it is worth as much as some people here think, I would be too scared to wear it. Hopefully, we’ll get a better idea of the condition and originality of it in a couple of weeks. If it ends up being worth less, I’d be better able to justify keeping it, and wearing it.


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I like your strategy. What is your threshold for keeping it vs. selling it? $250,000? $450,000?


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[klou]

Hi all, I just wanted to update you all on the 5510. Happily, the watch is all original, and the movement was in good condition when the back was taken off. However, the bittersweet reality is that we can't justify wearing a watch worth this much, and (as a few people predicted) we have therefore decided that we won't be able to keep it as an heirloom like we originally intended. Many thanks for the advice and pointers - we have learnt a lot about vintage Rolex's since we first put this post up, and I am looking forward to the day when I can buy my first vintage sub (just not one as rare/expensive as a 5510)!

[indianmachine]

Congrats on verifying the originality and good decision in my opinion.

[Dan S]

Originally Posted by klou

However, the bittersweet reality is that we can't justify wearing a watch worth this much, and (as a few people predicted) we have therefore decided that we won't be able to keep it as an heirloom like we originally intended. !

It's not easy to predict the market on a piece like this, but unless you need the cash, holding it as an investment is worth some consideration.

[southtexas]

Originally Posted by klou

Hi all, I just wanted to update you all on the 5510. Happily, the watch is all original, and the movement was in good condition when the back was taken off. However, the bittersweet reality is that we can't justify wearing a watch worth this much, and (as a few people predicted) we have therefore decided that we won't be able to keep it as an heirloom like we originally intended. Many thanks for the advice and pointers - we have learnt a lot about vintage Rolex's since we first put this post up, and I am looking forward to the day when I can buy my first vintage sub (just not one as rare/expensive as a 5510)!

Well that’s a bittersweet position to be in. That watch would’ve made a fortune in last weekend’s Phillips auction. Please carefully weigh your options before deciding what to do. I’ve got to think you’d get top dollar in a high profile auction.


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[subtona]

Omg! I have never seen such beautiful bevels.

Don’t polish and don’t bring the watch within a city block of an rsc.

[dhknola]

I would contact Phillips and negotiate a deal where the seller fees are lowered because this is a catalogue cover watch. I would not sell privately as the buying dealer will just consign it to Phillips. In the current market, Phillips seems to out perform Christies and Sotheby's...mega watch!

[Mendota]

OMG that is absolutely spectacular. What a beautiful find. His entire collection is marvelous. He had wonderful taste in watches. I bet he was a classy man.

The 5510 is my all time grail piece. I really like all of the early to mid '50s big crowns, but there's something about the 5510 specifically that sings to me. It could be the rarity of the piece, but also it's the fact that it used the 15xx movement instead of the 1030. It adds a bit more reliability and ease of locating parts.

This is a beautiful specimen and I know your grandfather would be proud and happy knowing that the family is able to work with trusted people here to make sure that it gets into the right hands and also that your family is able to benefit from the sale of the piece, as well.

What a fantastic find. Please do keep adding to this thread with photos and updates. Again, you absolutely came to the right place. There are incredibly knowledgeable collectors here in this forum who are generous with their time and expertise to help you.

[alwayshere]

Originally Posted by klou

Hi all, I just wanted to update you all on the 5510. Happily, the watch is all original, and the movement was in good condition when the back was taken off. However, the bittersweet reality is that we can't justify wearing a watch worth this much, and (as a few people predicted) we have therefore decided that we won't be able to keep it as an heirloom like we originally intended. Many thanks for the advice and pointers - we have learnt a lot about vintage Rolex's since we first put this post up, and I am looking forward to the day when I can buy my first vintage sub (just not one as rare/expensive as a 5510)!

Keep us posted on this. It'll be at least a house deposit in Australia! :D

Hey, forgive me if this comes across slightly strong (I have done this several times before haha) but could you consider donating (becoming a pledge member) to this Board? I think its only a $35 one time fee.

Many of the members here have given their inputs for free to help you and donations such as this helps to keep the Board going, continuing the sharing of knowledge and good advice. Please think about it!

[Kingface66]

Originally Posted by alwayshere

Keep us posted on this. It'll be at least a house deposit in Australia! :D

Hey, forgive me if this comes across slight strong (I have done this several times before haha) but could you consider donating (becoming a pledge member) to this Board? I think its only $35 one time fee.

Many of the members here have given their inputs for free to help you and donations such as this helps to keep the Board going, continuing the sharing of knowledge and good advice. Please think about it!

Great conceit, and well-said.
And OP, that watch is mesmerizing in its beauty!

[KY..]

This story is so good I had to wear my 1680 that unfortunately did not come from pops or grandpa…
Perfect example why vintage beats out modern all day every day to me…
Thank you for sharing…

Originally Posted by klou

Hi all,

I have recently discovered an old Sub that was previously owned by my late Grandfather. It has been boxed in storage for the last 22 years. He collected watches, and this watch was one of many we discovered (although it was by far the most remarkable) very recently. It doesn't currently work.

Assuming it is genuine, learning about this watch has been amazing, and we have appreciated the wealth of knowledge in this forum.

My family want to restore it.

I just wanted to update you all on the 5510. Happily, the watch is all original, and the movement was in good condition when the back was taken off. However, the bittersweet reality is that we can't justify wearing a watch worth this much, and (as a few people predicted) we have therefore decided that we won't be able to keep it as an heirloom like we originally intended.

[Erpin]

Its a real beauty. Looks hardly used. I would be interested should you decide to sell it.


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[rumahrolex]

It's amazing, if it's me i will keep it..

[T4ME]

What is the estimated worth?

[Mark020]

At the right auction I would not be surprised with USD 300-500k.