Explorer II 16570, crazy asking prices

[BillA]

I am in the market for a 5 digit serial 16570 Polar.
Have been checking the FS listing for months.
The asking prices are insane. Most, not all of the watches come with no box or paperwork, and almost all are missing at least one link and no service history.
If the market is soft, these people did not get the memo.
It is also possible I just don’t understand.

[rmagoo57]

Define insane? What era/features are you looking for? I'm seeing them for $9-11K, minty, newer 3186's $12-14K. Let me know if you want some help searching.

[NattyLight]

Agree the asking prices for these previously overlooked watches are just nuts. I got mine for $5500 about 6 years ago, with papers. Great watch but in my time owning it very very few people realized it was a Rolex. My wife told me she thought it was a timex !

[douglasf13]

Originally Posted by NattyLight

Agree the asking prices for these previously overlooked watches are just nuts. I got mine for $5500 about 6 years ago, with papers. Great watch but in my time owning it very very few people realized it was a Rolex. My wife told me she thought it was a timex !

I sold a black one for around $3800 at that same time. Lol

[Bladeshot]

Polar was my first Rolex. Circa 2010. Mid to high $3’s was the approximate cost, preowned. I remember when the 216570 black dial was $5.5, preowned. I’ve traded a lot over the years.

The current asking prices are hard for me to comprehend. But, all things increase in price and that was a while ago.

[subprimero]

Try using WatchRecon. Yes, the prices are now very high. They have doubled since 2016 when I was considering buying one. I bought a 16710 instead.

[mquarter]

Temper your expectations about a soft market for the (neo) vintage watches.

[yowlie]

There's a lot of good 16570's out there (i.e. not dolled up to look shiny). They were the last 40mm to go up in price, even after two-tones. They have not been a big collector target. A lot of them are owned by wearers, as opposed to collectors. They will come down. Polars can be found in the 7's and black dials in the high 6's. BTW I think you will like these watches. I just gravitate to a 16570 3186 thin-frame random over several other options.

[Kinnakeet]

Originally Posted by BillA

I am in the market for a 5 digit serial 16570 Polar.
Have been checking the FS listing for months.
The asking prices are insane. Most, not all of the watches come with no box or paperwork, and almost all are missing at least one link and no service history.
If the market is soft, these people did not get the memo.
It is also possible I just don’t understand.

Wait.

[R.bartlett]

Bought new in '94 as a replacement as I was robbed of my datejust so put in a claim but wanted to upgrade.

As part of the deal I requested a Jubilee bracelet fitted because I preferred the look ( I felt the original bracelet looked too plain).

Because it was an insurance job, I dealt with Rolex direct not the local AD and their rep looked puzzled said it's never been done before but agreed so had their service centre in Bromley specially machine the lugs it fit.


I'm assuming it's the only one ever modified in this way but who know?

[2loaded]

Originally Posted by R.bartlett

Bought new in '94 as a replacement as I was robbed of my datejust so put in a claim but wanted to upgrade.

As part of the deal I requested a Jubilee bracelet fitted because I preferred the look ( I felt the original bracelet looked too plain).

Because it was an insurance job, I dealt with Rolex direct not the local AD and their rep looked puzzled said it's never been done before but agreed so had their service centre in Bromley specially machine the lugs it fit.


I'm assuming it's the only one ever modified in this way but who know?

Please post a additional pics.

[csaltphoto]

Originally Posted by mquarter

Temper your expectations about a soft market for the (neo) vintage watches.

I think this is true. Yes we are seeing secondary market prices come down for Rolexes that are still being manufactured but for any watch no longer being made, the supply is finite and their condition will continue to degrade as more and more of them are worn.

[rushca01]

Originally Posted by csaltphoto

I think this is true. Yes we are seeing secondary market prices come down for Rolexes that are still being manufactured but for any watch no longer being made, the supply is finite and their condition will continue to degrade as more and more of them are worn.

Agree with this assessment.

[Chester01]

So to prevent a crash, most are holding steady and bringing things down real slow. The issue is these folks are now holding watches that may not be worth what they were a couple months ago. So in some cases they are stuck. It’s not like they got these watches on the cheap, the margins are likely slim and getting slimmer. As the market continues to slide and it will, folks will need to keep the lights on and while the advertised price may not come down much, it would not surprise me if all the sudden folks start coming down significantly during the private negotiation.

[dhknola]

I saw one (black dial) on Tropical Watch for $6950 the other day, but wasn't there for long.
A polar hammered on ebay (watch only) for $7100 the other day.
I feel like these are getting close to approachable these days.

[temporarychicken]

Originally Posted by R.bartlett

Bought new in '94 as a replacement as I was robbed of my datejust so put in a claim but wanted to upgrade.

As part of the deal I requested a Jubilee bracelet fitted because I preferred the look ( I felt the original bracelet looked too plain).

Because it was an insurance job, I dealt with Rolex direct not the local AD and their rep looked puzzled said it's never been done before but agreed so had their service centre in Bromley specially machine the lugs it fit.


I'm assuming it's the only one ever modified in this way but who know?

What's the fun nickname for this one? We have 'batgirl' so this could be something like 'cave woman'.

[Aquaholic_user]

I got the black dial a few years ago. Absolutely love it! The size and weight is perfect, these watches are meant to be worn.

Sent from my balloon knot

[indianmachine]

The ones with yellow lume patina tend to fetch much higher premiums.

[Melanotaenia]

I have been on the search for a Polar example as well after trying on the updated model and it is just too big compared to the 16570. I too was surprised by the prices I am seeing lately on them. Sure, they are not being made anymore, but there are a ton of them out there and they never really fetched high prices until it seems most recently.

[Turbo Racer]

Really nice watches. I would definitely recommend keep searching for them. I think the most sought after watches are the creamy white dials and full sets command a pretty big premium. The black “spider” dials as well, but I don’t see the attraction there so much. For all others, I would think you’d be able to pick one up for a good price, if not now, then in a couple of months. The watch market is undergoing a pretty big correction currently. However, I think due to inflation, prices are more sticky than they warrant. Good luck with your search!

[Sandpit]

Originally Posted by csaltphoto

I think this is true. Yes we are seeing secondary market prices come down for Rolexes that are still being manufactured but for any watch no longer being made, the supply is finite and their condition will continue to degrade as more and more of them are worn.

Also agree.

I think it's also worth noting that a lot of the 'hype' pieces were traded between dealers at ever increasing premiums.

I would say (my opinion) the majority of 4 / 5 digits are sold to more of a collector / buyer that will wear a watch to enjoy.

What i've noticed is that prices have stayed steady for 5 digits but the poorer grade pieces (naked, heavily polished or worn) have now taken over the prices that mint full set pieces were at.

Mint full sets are just becoming increasingly harder to find. I don't know whether that's because collectors are stashing them or because buyers are now wearing them.

Either way, I'm not sure there will be any form of crash in the older watch market. If anything it is a much more stable market compared to those in production.

[R.bartlett]

Originally Posted by 2loaded

Please post a additional pics.

Sorry for the delay I run an AC company and it's kinda busy atm

[TheRtHonA]

Lovely watch and I believe that I probably bought the last 5 digit explorer II from an AD in July 2018. Paid €6000 for it in on holiday in Crete and had been sat around for 7 years or so. Feels like a different era.

Good luck in finding a good condition version - it’s a lovely watch!

[csaltphoto]

Originally Posted by Sandpit

Also agree.

I think it's also worth noting that a lot of the 'hype' pieces were traded between dealers at ever increasing premiums.

I would say (my opinion) the majority of 4 / 5 digits are sold to more of a collector / buyer that will wear a watch to enjoy.

What i've noticed is that prices have stayed steady for 5 digits but the poorer grade pieces (naked, heavily polished or worn) have now taken over the prices that mint full set pieces were at.

Mint full sets are just becoming increasingly harder to find. I don't know whether that's because collectors are stashing them or because buyers are now wearing them.

Either way, I'm not sure there will be any form of crash in the older watch market. If anything it is a much more stable market compared to those in production.

I agree with all that. Some buyers are stashing the mint/full sets but there are also buyers who want something close to a "new watch" experience with an out of production piece. I did and bought it to wear for the rest of my life.
A few years ago the premium wasn't that steep but I knew I wanted something close to new. Of course the one I bought is not in that condition anymore so just one more that has been relegated to a decent condition but definitely worn watch in the unlikely event I decide to sell it.

Just for example on C24, in the US, there are about 20 14060M's with B+P and about 170 6 digit subs (no date) with B+P. The 14060M, or the 5 digit Explorers, are not a rare watches by any means but relative to the newer ones there are just less of them for sale at any given time so that will affect the price.

[red1108nyc]

One of my all time favorite model.. just so refreshing to wear everytime! I think unpolished full sets will retain value better since they will become more scarce in time.

We need some pictures on this thread

[Polarexplorerii]

I bought my 16570 Polar "naked" in 2018 from Federico for $5,800.

[R.bartlett]

Originally Posted by Sandpit

What i've noticed is that prices have stayed steady for 5 digits but the poorer grade pieces (naked, heavily polished or worn) have now taken over the prices that mint full set pieces were at.

Sorry a bit confused by this.
Do you mean that poorer grades have become more expensive than mint or that mint are now more expensive and poorer ones have risen to the price of what mint used to be?

I don't follow prices so not able to deduce myself.

[VanPatten14]

I bought a mint full set 16570 2 years ago for $8,5k. Prices have gone up like crazy in the past 5 years, but I still think it's an amazing watch for its value.

The new model retails for $10,5K and in my opinion, they don't wear or look as nice as the 5 digits. And its not like the specs (besides lume and bracelet) make much of a difference

[G3Z]

I think what your seeing is that the general watch enthusiast prefers the 40mm over the newer 42’s. 42’s sit around for ages for sale and the 5 digit 40mm sells much quicker.

Also: your getting a 16710 essentially for half the price still - if you look at it broadly.

[Fjweld]

Originally Posted by douglasf13

I sold a black one for around $3800 at that same time. Lol

I bought one for that much back then!