GMT Bubble

[gabbysplace]

I'm pretty surprised by some of the prices I see for vintage GMT Masters from trusted sellers.

For instance, a very reputable dealer on this forum has a 1995 16710 with coke bezel and service dial for $7350! Just a few months ago that watch would have sold for no more than $6500. (I know because I was looking around in July.)

It seems like the prices just keep climbing and climbing.

Are others seeing the same? And if so, what's driving the surge?

[springer]

Originally Posted by gabbysplace

I'm pretty surprised by some of the prices I see for vintage GMT Masters from trusted sellers.

For instance, a very reputable dealer on this forum has a 1995 16710 with coke bezel and service dial for $7350! Just a few months ago that watch would have sold for no more than $6500. (I know because I was looking around in July.)

It seems like the prices just keep climbing and climbing.

Are others seeing the same? And if so, what's driving the surge?

I doubt seriously that he knows that the dial is a service dial. I see this often with watches that are misrepresented with service dials, and/or hands, bracelets and bezel inserts. I saw a GMT listed here the other day with a service dial and aftermarket coke insert. I contacted the seller and provided him that information but I never checked back to see if the ad was corrected.

Prices normally go up in time, not down. If you've been on the hunt, you've surely noticed that there are not many out there in prime condition. what's causing the "surge" - normally it's supply and demand. When someone gets top dollar for a prime example, of course then, everyone with a dog in the race thinks their watch is worth the same - even though it is probably in lesser condition and might have service parts. They have no problem asking the same top end prices even though their watch isn't a top end watch. This pattern is often seen and repeated with collector cars and other collectibles.

[gabbysplace]

Originally Posted by springer

I doubt seriously that he knows that the dial is a service dial. I see this often.

The seller's listing actually says it's a service dial. I was surprised by the price at first glance, and then when I saw the Swiss-only service dial and the description, I was even more stunned. Bubble!

[05carbondrz]

The prime all original unpolished Watches will always go up,Maybe not as fast as of late but will go up.There are not many Honest pieces hitting the market and when they do they bring the Money.I’ve been very tempted to sell a couple Pieces but know I will never get them back in the future at a price I can Stomach.

[Sherbie]

You may have a point. I was shocked that this fat lady sold instantly over on Hodinkee for nearly $ 11 k a few days ago


Sent from my iPad using Tapatalk

[swish77]

Not sure why this is surprising. The prices of all vintage Rolexes, especially the sports models, are rising rapidly. As time goes on, fewer and fewer good examples are available. They're not making them any more, of course, so prices climb. Simple math.

Also, vintage GMTs are super cool and there isn't a modern Rolex equivalent of a Pepsi (or Coke) in stainless steel. If you want one, you're forced to buy a four- or five-digit reference GMT, and that has been driving up prices even more.

[jzeigler]

I just recently saw these prices and am kicking myself for selling my 16750 3 years ago for ~5500. I used that money to buy a 1680, which has also appreciated quite a bit, but I should have just kept them both.

[jcatt]

I think there are a few reasons for the price of older GMT's skyrocketing:

-The Pepsi/ Coke are timeless, instantly recognizable classics that cannot be had today, unless you want the PM white gold Pepsi for $32K
-The price of new Rolex have skyrocketed- my EXP II MSRP in 2003 was $3450. Today, the explorer (albeit 42mm and a diff movement) runs $8k. That's not inflation, that's price creep on steroids.
-Many in the market don't care for either the look or feel (maxi case) of the current SS GMT
-There is a shortage of new SS sports models

I hope prices keep climbing:)
JCATT

[Paul]

Originally Posted by jzeigler

I just recently saw these prices and am kicking myself for selling my 16750 3 years ago for ~5500. I used that money to buy a 1680, which has also appreciated quite a bit, but I should have just kept them both.

Very cool TVZ avatar bro. I spend a lot of my evenings with him in my head-phones

[Paul]

I think the crazy surge in values for 4 digit GMTs was always gonna have a flow on to the 5 digit references .
And while I love my 4 digit GMTs, if I had any brains, I might cash in on them now and buy one nice five digit model.

Squint a bit and there's little difference visually between the 4 digit references and the 5 digit reference (IMO) anyway.

The quick-set date on the 5 digit references would be easier for a serial watch swapper like me to live with.

I guess the new generation movement in the 5 digit references was deemed by Rolex to be an improvement. Do watchmakers agree ?

The ability to manually set the GMT hand on the GMTII is kinda cool.

And the sapphire crystal wouldn't get so scratched when I'm digging post holes or mixing concrete.

And I could even fit a faded pepsi insert to a 5 digit GMT and achieve that vintage 1675 look.

4 digit ... 5 digit ... all vintage Rolex sports models really - I kinda think asking prices are getting a bit silly now

[05carbondrz]

The Sapphire Crystal is a deal killer for the 5 digits,Sapphire is cold and lifeless IMHO.

[gabbysplace]

Originally Posted by jcatt

I think there are a few reasons for the price of older GMT's skyrocketing:

-The Pepsi/ Coke are timeless, instantly recognizable classics that cannot be had today, unless you want the PM white gold Pepsi for $32K
-The price of new Rolex have skyrocketed- my EXP II MSRP in 2003 was $3450. Today, the explorer (albeit 42mm and a diff movement) runs $8k. That's not inflation, that's price creep on steroids.
-Many in the market don't care for either the look or feel (maxi case) of the current SS GMT
-There is a shortage of new SS sports models

I hope prices keep climbing:)
JCATT

This is a really good break down of the situation. I sold a 16710 and was shocked what I got for it. So like you, I’m certainly not complaining.


Sent from my iPhone using Tapatalk

[AutoBay]

Originally Posted by Sherbie

You may have a point. I was shocked that this fat lady sold instantly over on Hodinkee for nearly $ 11 k a few days ago


Sent from my iPad using Tapatalk

Fair, though I would argue that Hodinkee could sell a bag of Hans Wildorf’s petrified poo and someone would buy it instantly, too...


Sent from my iPhone using Tapatalk

[gabbysplace]

Originally Posted by AutoBay

Fair, though I would argue that Hodinkee could sell a bag of Hans Wildorf’s petrified poo and someone would buy it instantly, too...


Sent from my iPhone using Tapatalk

Truth!


Sent from my iPhone using Tapatalk

[Blakerhodes]

Originally Posted by swish77

Not sure why this is surprising. The prices of all vintage Rolexes, especially the sports models, are rising rapidly. As time goes on, fewer and fewer good examples are available. They're not making them any more, of course, so prices climb. Simple math.

Also, vintage GMTs are super cool and there isn't a modern Rolex equivalent of a Pepsi (or Coke) in stainless steel. If you want one, you're forced to buy a four- or five-digit reference GMT, and that has been driving up prices even more.

Agree with this. Strong economy and fewer good examples , I can't see prices dropping too much unless for some reason the market gets flooded.

[mono_no_aware]

Interesting