Right Price for a 118238

[Gym5050]

Hey all,

I'm about to pull the trigger and buy my grail day date watch. I've decided on the 118238 (would love the 40 mm but I'm even going over budget with this purchase).

I'm planning on paying 50% cash, and 50% on credit (21 months interest free, however a 3 percent credit card processing fee to the seller)

Is a naked year 2001, 118238 with white roman numerals, for a little under 22k a good deal? Or should I wait and possibly find cheaper?

[hutch300]

Advice, don't buy it. These are wants not needs and credit for a watch is not advisable. Wait and eventually buy exactly what you want.

[Kenny G]

If it’s in great shape that’s actually not a bad deal providing it’s fully verifiable from a legit seller and comes with all links. Love DDs…

[goodolejr]

If 40 is the size you want, I'd hold off on buying the 36. Have you tried it on? You might find it too small.

[WatchTimes]

Do not buy it
1) If you have to use financing to afford a luxury item you should not buy it.
2) If you want 40 you will never truly be happy with the 36.

I went 40 and am so glad I did!

[Bxtek]

I personally wouldn't buy something like this on credit. If you have the full amount in expendable funds, but are just taking advantage of the interest free 21 months, then that's another story. If not, I would advise waiting until you're in a better position to buy a luxury item like this. Also, hold out/work towards the 40mm version if that's the one you really want!

[logan5tx]

Just a note, it seems the early 118238’s don’t have the updated clasp, which is one of the main pro’s of that model imo. That price seems fair but average for a 2000 or 2001 model. The later models with the updated clasp seem to go for around $24-25k.


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[Rolex1982]

Originally Posted by watchtimes

do not buy it
1) if you have to use financing to afford a luxury item you should not buy it.
2) if you want 40 you will never truly be happy with the 36.

I went 40 and am so glad i did!

x 100!!

[Soulo]

I love my 118238, it was my first Rolex purchase and my grail. Its a classic piece.

In regards to the financing, it sounds like you have mapped it out. If you can afford to pay off the remaining balance within the 21 months then I say go for it, especially since it is interest free.

[EvelynWaugh]

It sounds like you first need to decide which size Day-Date you want for yourself as your grail. Just get the DD40 if that's what you want, or wait to buy the right 118238 as you continue to save up.

Personally I wouldn't buy naked of anything. With patience, you should be able to find a good full-set example in great condition, and condition is everything for a pre-owned neo-vintage PM dress piece like the 118238.

I too love a clean white dial on yellow gold and for me, the classic size and OG proportions of the 118238 IS the grail, so decision was simple. I just had to wait around until the right one came along and instantly pulled the trigger when it finally did.

Don't just settle because it's "cheaper." Wait, be patient, and source EXACTLY the one you want and you'll be happier in the long run. And if DD40 is what you ultimately want, you should hold off on buying the 36 all together.

[Podmornica]

2001 is a poor choice considering the inferior bracelet to those made from 2003- ..

Also, 22K seems a lot for such a reference in 2023 .. The used watch market is dead

[Gym5050]

Originally Posted by Podmornica

2001 is a poor choice considering the inferior bracelet to those made from 2003- ..

Also, 22K seems a lot for such a reference in 2023 .. The used watch market is dead

What do you mean that the used watch market is dead?

[Gym5050]

Originally Posted by WatchTimes

Do not buy it
1) If you have to use financing to afford a luxury item you should not buy it.
2) If you want 40 you will never truly be happy with the 36.

I went 40 and am so glad I did!

Beautiful watch. I want 40, but realistically the 36 looks fine on me

[Gym5050]

Originally Posted by logan5tx

Just a note, it seems the early 118238’s don’t have the updated clasp, which is one of the main pro’s of that model imo. That price seems fair but average for a 2000 or 2001 model. The later models with the updated clasp seem to go for around $24-25k.


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I've also seen an updated one from 2005, with a diamond dial going for 24k

[GoingPlaces]

Couple things for me, first I'd never finance a watch. Interest free or not. One should be able to "write the check" and basically not feel it. 22K is high. And finally, I would never buy any watch naked. Full set or go home.

I sounds to me like OP is hell bent on getting a DD and is willing to compromise. Best to wait and let patience pay off:) Good luck.

[Callmepeshy]

Originally Posted by WatchTimes

Do not buy it
1) If you have to use financing to afford a luxury item you should not buy it.
2) If you want 40 you will never truly be happy with the 36.

I went 40 and am so glad I did!

This.

[S’portEye]

Don’t know why people are banging on OP for INTEREST FREE FINANCING. There is nothing wrong with using that method if you can afford the note and abide by the terms.

[Chiboy]

I know everyone is commenting on the financing plan. I am just really surprised that a 36mm, twenty years old, without B&P, would be $22k! That's a lot!

It sounds like the OP is only choosing the 36 because it's less costly. The difference in MSRP between 36 and 40 sizes is 10%. Unless the 36 is really, really compelling price wise (which this one isn't), I'd wait for the 40 if that is the one OP really wants.

[Chiboy]

I should amend what I just said. I never settle, as I want what I want. If I can't afford it, or can't find it, I wait until I can. Settling never works for me, and is more expensive in the long run.

[DocHorton]

Congrats on finding your grail, but I would not pay that price for that model. Get one with B&P and one with the updated bracelet. It will be worth it. If you ever need to resell, a watch without B&P is a lot harder to get rid of.

[Gym5050]

Originally Posted by Chiboy

I know everyone is commenting on the financing plan. I am just really surprised that a 36mm, twenty years old, without B&P, would be $22k! That's a lot!

It sounds like the OP is only choosing the 36 because it's less costly. The difference in MSRP between 36 and 40 sizes is 10%. Unless the 36 is really, really compelling price wise (which this one isn't), I'd wait for the 40 if that is the one OP really wants.

Originally Posted by Chiboy

I should amend what I just said. I never settle, as I want what I want. If I can't afford it, or can't find it, I wait until I can. Settling never works for me, and is more expensive in the long run.

You guys make some excellent points and 22k is a lot for a watch that doesn't have box and papers and is 23 years old.

And 10% difference for MSRP yes, but for used one's the price difference is pretty substantial. We're talking 21-25k VS 38-40k

I CAN afford the 118238, however I do agree that for the older bracelet the price is a bit steep. The other thing is I'm saving for a house and although I can afford the watch, I'd obviously wouldn't want to clear too much of my savings which is why I I'd utilize the 0 percent interest credit line.

[Soulo]

Originally Posted by Gym5050

You guys make some excellent points and 22k is a lot for a watch that doesn't have box and papers and is 23 years old.

And 10% difference for MSRP yes, but for used one's the price difference is pretty substantial. We're talking 21-25k VS 38-40k

I CAN afford the 118238, however I do agree that for the older bracelet the price is a bit steep. The other thing is I'm saving for a house and although I can afford the watch, I'd obviously wouldn't want to clear too much of my savings which is why I I'd utilize the 0 percent interest credit line.

If you're saving for a house, then the house comes first.

[Soulo]

My grail 118238

[Gym5050]

Originally Posted by Soulo

My grail 118238

Beautiful!

[S’portEye]

Originally Posted by Soulo

If you're saving for a house, then the house comes first.

I can 100% agree with this statement. That piece of information changes a lot of things.

[Soulo]

Originally Posted by Gym5050

Beautiful!

Thank you, and just to add my last little bit of 2 cents in regard to sizing. I believe that the 118238 has the same desired affect as the 218238 unless you are a very large man. I'm 6'0, 220 and feel that the 36mm in this watch looks great on my wrist and has always received nothing but compliments. Its an all gold watch and wears somewhat loud so to me, the 36mm is classic and perfect. No one has ever said that I should have the 40 or 41mm.

So as mentioned, unless you are a large man, I would personally go for the 36mm, save that extra 15 of so thousand that the 40mm would cost and enjoy the compliments that the 36mm will bring.

[Gym5050]

Originally Posted by Soulo

Thank you, and just to add my last little bit of 2 cents in regard to sizing. I believe that the 118238 has the same desired affect as the 218238 unless you are a very large man. I'm 6'0, 220 and feel that the 36mm in this watch looks great on my wrist and has always received nothing but compliments. Its an all gold watch and wears somewhat loud so to me, the 36mm is classic and perfect. No one has ever said that I should have the 40 or 41mm.

So as mentioned, unless you are a large man, I would personally go for the 36mm, save that extra 15 of so thousand that the 40mm would cost and enjoy the compliments that the 36mm will bring.

Well said. Now the challenge will be finding a 118238 for a decent price.

[Gym5050]

Originally Posted by Soulo

Thank you, and just to add my last little bit of 2 cents in regard to sizing. I believe that the 118238 has the same desired affect as the 218238 unless you are a very large man. I'm 6'0, 220 and feel that the 36mm in this watch looks great on my wrist and has always received nothing but compliments. Its an all gold watch and wears somewhat loud so to me, the 36mm is classic and perfect. No one has ever said that I should have the 40 or 41mm.

So as mentioned, unless you are a large man, I would personally go for the 36mm, save that extra 15 of so thousand that the 40mm would cost and enjoy the compliments that the 36mm will bring.

Any idea on where to find a decent priced 118238?

[Soulo]

Originally Posted by Gym5050

Any idea on where to find a decent priced 118238?

You would probably find the best prices from sellers within watch clubs but you just have to do your due diligence and reference checks on the seller.

[cglondon]

Originally Posted by Gym5050

You guys make some excellent points and 22k is a lot for a watch that doesn't have box and papers and is 23 years old.

And 10% difference for MSRP yes, but for used one's the price difference is pretty substantial. We're talking 21-25k VS 38-40k

I CAN afford the 118238, however I do agree that for the older bracelet the price is a bit steep. The other thing is I'm saving for a house and although I can afford the watch, I'd obviously wouldn't want to clear too much of my savings which is why I I'd utilize the 0 percent interest credit line.

Purchasing Day Dates is way out of my league. Massive congrats to you guys that can. Reading this thread, I had to comment just to say. If you are saving for a house (mortgage), the less finance you have on your name the better. It doesn’t matter if it’s interest free or not. Don’t jeopardise the banks getting cold feet, if they realise a few months before your mortgage application you decided to take out finance on an item sold via a watch company. Especially considering the state of the economy at the moment.

When you first walk into your new house, I guarantee you won’t be thinking about that DD.

Just my advice. Good luck.


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