Rolex GMT Price Watch

[Wise]

I have been looking at investing some money into watches recently. I have always liked watches and have now found myself in a position that I can start buying some! So am just really starting to get into them and do research etc.

I have been in to a few pawn brokers recently and they seem to have some really good deals on some watches, some also seem a bit good to be true as well! Is there any harm buying from a broker, is it more likely to be in a worse condition etc?

The reason I ask is that I have found a GTM (coke) 16710, 2003, box and paperwork, it has just had a service as well as case and bracket refurbishment and a 12 month warranty as well. The price of it is £4600. At that price it looks like it could be worth a punt? Is it likely to raise in value or are they sill losing money?

Cheers for any advice.

[Gunk]

Personally I think you’re buying it for the wrong reasons. If you like it and really want one then buy it. As far as it being an investment vehicle, forget it. They have shot up in value but you’re buying at the peak. If you hold on to it for 10 years then it may rise in value but who knows.

If you’re looking to invest money stick it in to your pension or ISA.

[Wise]

Investment was probably the wrong word to use! I have been looking at a GMT for a while. Am not looking at buying to sell on, am looking to buy smart, so when it comes to selling it I could make at bit more then I paid or break even, unlike buying new

[cbmotorsport]

Wise said:

Investment was probably the wrong word to use! I have been looking at a GMT for a while. Am not looking at buying to sell on, am looking to buy smart, so when it comes to selling it I could make at bit more then I paid or break even, unlike buying new

You wont lose money at that price, you may gain a little.

[tgclowes]

That seems very cheap to me, I'd be wary.

[SlimJim16v]

Price seems fair. However, who serviced it and how good/bad is the polishing? Over doing the polishing can really fk up a case. Also, how worn is the bracelet, they are st to start with.

Look at some pristine ones first, to get an idea of the shape of the case, lugs especially.

[matjk]

Dealer would be pretty annoyed now if he had sold you a watch and not converted it straight into cash , lost a 1/4 of their value overnight, intresting the exchanges stepped in and stop trading to try and stop the drop !!

[audidoody]

That’s a very good price for a 16710 if it’s the real deal. I was offered £5k trade price for mine (2002) by a dealer who would add another couple of grand on top.