Does buying a new Submariner or Deepsea make sense?

[jonny finance]

Hi all

Not being terribly well versed on the UK watch market, my searching leaves me a tad confused..
Appreciate we seem to be living in a current crazy money fuelled period re 'overs' for all sorts of bits, but I
do find the asking prices of Rolex watches a right mixed bag

I am torn between a Sub date 16610 and the Deepsea - Not only is my choice/preference undecided re the actual watch
model, my pea brain is struggling with new vs used..

They hold their money, bolstered by chunky price increases and limited availability, I get that... But surely for what seems
a relatively small premium, a brand new unworn piece, is the sensible buy.. Taking into account, provenance, wear/condition
impending servicing etc on a used jobbie...??? Guess maybe I am looking at the disparity between private sellers and top end
dealers, seen a new 2017 Submariner date (private sale) asking £6500 compared to a 2015 at a dealer for same figure..

Suppose I've answered myself and If anyone has either of above (new & unworn) and wants a swift home found, please ping me..

Thanks

[LC23]

At the moment it would seem pre owned Rolex prices on the SS sports models aren't far off new prices, with obvious examples such as the Daytona and BLNR trading over list thanks to limited supply (Daytona especially). If there is only a couple of hundred in it I would be looking at new. Any more than that (pushing closer to a £500 difference) I would personally be looking a trying to find pre owned. Just my approach.

[x5x3]

NeMiSiS said:

The trend on this forum lately is - whats the best investment, what will hold its value, what can i keep and use and still get my money back in 5 years.

FFS Buy what you like and enjoy it, if it cost you a measly fee to enjoy what you want then surely the above questions need not be asked or answered.

agree 100%

[hosedoctor]

NeMiSiS said:

The trend on this forum lately is - whats the best investment, what will hold its value, what can i keep and use and still get my money back in 5 years.

FFS Buy what you like and enjoy it, if it cost you a measly fee to enjoy what you want then surely the above questions need not be asked or answered.

Good answer!

[DJMC]

Was offered brand new unworn Sub date for £6,200 today by a Rolex dealer.

My wife knows the owner fairly well so was thinking maybe knock him down to £5,500!

Edited by DJMC on Saturday 14th January 17:48

[Jag_NE]

NeMiSiS said:

The trend on this forum lately is - whats the best investment, what will hold its value, what can i keep and use and still get my money back in 5 years.

FFS Buy what you like and enjoy it, if it cost you a measly fee to enjoy what you want then surely the above questions need not be asked or answered.

agree, its absolutely cringeworthy.

[nikaiyo2]

Are you looking for an investment or a Watch?

As an investment most Rolex are pretty rubbish. Even over the last 20 years where new values increasing five fold has dragged up used values a second hand sub date will sell for what £4995 from a U.K. Dealer with proper shop, warranty etc. So you might get £3995 as a private seller or £3500 from a dealer if you are lucky.
How much would £1000 invested in a decent FTSE tracker over the same period be worth... £9000ish.

So whilst a Rolex might have better residual values than many watches, an investment it is not.

[jonny finance]

NeMiSiS said:

The trend on this forum lately is - whats the best investment, what will hold its value, what can i keep and use and still get my money back in 5 years.

FFS Buy what you like and enjoy it, if it cost you a measly fee to enjoy what you want then surely the above questions need not be asked or answered.

Investment? Who mentioned investment?

My point related to the seemingly little difference between new and used!

[jonny finance]

LC23 said:

At the moment it would seem pre owned Rolex prices on the SS sports models aren't far off new prices, with obvious examples such as the Daytona and BLNR trading over list thanks to limited supply (Daytona especially). If there is only a couple of hundred in it I would be looking at new. Any more than that (pushing closer to a £500 difference) I would personally be looking a trying to find pre owned. Just my approach.

My thinking too - my mate has just bought an 8 year old, well worn with sloppy strap, never serviced, Rolex for what looks like about £1k under what a brand new one would cost. Mind he would not entertain buying private and purchased from High St retailer - he's happy, so fair enough..

[foxsasha]

jonny finance said:

Investment? Who mentioned investment?

My point related to the seemingly little difference between new and used!

New then. I can't comprehend why many used watches, other than those in limited supply, are advertised at the prices they are. How much is new worth to you over used? Personally I'd happily pay £1k more for new over worn and used on a £6k retail watch.

For the sake of 20%, yes, I do care!

Edited by foxsasha on Saturday 14th January 19:11

[don logan]

Hi OP

I'm selling my mint 2013 Deepsea

I'm not asking for an offer but what would you consider to be a worthwhile saving that would make you buy it over a new one?

New being £8,900?

[LaurasOtherHalf]

I do think there's an element of emperors new clothes about buying these watches at the moment.

FWIW, I made an offer of £3800 on a sea dweller today, mint 2002 model with box but no papers, it was priced at £4200. I'll find out on Monday if it was accepted. The cheapest UK based one on C24 is currently £4600 with again no papers.

There are cheap watches out there. Personally it would need to be circa 20-25% cheaper as second hand for me to go second hand and there seems to be plenty of watches out there that fall into that category.

[jonny finance]

NeMiSiS said:

jonny finance said:

They hold their money,

I apologise, I have read so many 'watches for investment' posts since the new year that I was quick to shoot.

I noted your user name, then read your post, the bit in bold was in focus more than the content of the post.

Haha - No prob. First time I've 'wandered' over here to the watch chat for an age. Fed up and bored stiff over on the Porsche forum with same repeated thresd 'investment' bolloks !!

[DJMC]

don logan said:

Hi OP

I'm selling my mint 2013 Deepsea

I'm not asking for an offer but what would you consider to be a worthwhile saving that would make you buy it over a new one?

New being £8,900?

Same dealer with Sub had a 2014 Deepsea for £5,850.

[jonny finance]

don logan said:

Hi OP

I'm selling my mint 2013 Deepsea

I'm not asking for an offer but what would you consider to be a worthwhile saving that would make you buy it over a new one?

New being £8,900?

Hi. Now I ain't dumb and if there was a considerable saving to be gained - how could that be ignored ??

Appreciate supply and demand especially if model is very limited which would obviously escalate price

Think my original thoughts leaned towards models, which you could argue where reasonably available, and the very narrow price tags between new and used. (well used in some ads)

On a personal note and to answer your question if the watch was unworn and basically the same as a new one, I'd say maybe £7k If used and worn, as I would do so, obviously less. This would be my mindset if a new one could be obtained at list...

[don logan]

DJMC said:

Same dealer with Sub had a 2014 Deepsea for £5,850.

Wow!

That's about £1.400 less than most used dealers would ask!

I'm surpised it was still there!

[st33ly]

Where is that deeps as I want it. Id trade my 1999 just serviced Seadweller date with box /papers and looks as new for £4200

[traffman]

How much is a new Sub Date again? Really! They have increased a fair bit.

[KungFuPanda]

DJMC said:

don logan said:

Hi OP

I'm selling my mint 2013 Deepsea

I'm not asking for an offer but what would you consider to be a worthwhile saving that would make you buy it over a new one?

New being £8,900?

Same dealer with Sub had a 2014 Deepsea for £5,850.

I call bullst on the price of that DSSD. I bought one early last year in a private deal and that cost me £5750 for a 2011. Rough 2010 ones are going for over £6k.

[don logan]

KungFuPanda said:

DJMC said:

don logan said:

Hi OP

I'm selling my mint 2013 Deepsea

I'm not asking for an offer but what would you consider to be a worthwhile saving that would make you buy it over a new one?

New being £8,900?

Same dealer with Sub had a 2014 Deepsea for £5,850.

I call bullst on the price of that DSSD. I bought one early last year in a private deal and that cost me £5750 for a 2011. Rough 2010 ones are going for over £6k.

It does sound a lot more like what the dealer PAID for it!