Rolex service,valuation & service

[memps]

Put my 2009 sub with date in for a service at Mappin & Webb, I bought it used for about £3.5k in 2009 & this is the second service in that time. I also asked for a valuation for insurance thinking it would come back at the highest between £6 & £7k. They valued it at £13.500. I think the world has gone crazy. I don't want to sell but if I did - to buy back into the market other model prices must have gone up as well. Just thought I would relay this as I think that this market is inflated and cannot be sustained. I would not buy my watch for this amount because of this -- & also there are so many other watch makers that can be bought for similar prices with higher horology quality.

Just my thoughts

Also, an anecdote, when I went into the shop to pick up my watch - the person serving brought out the wrong watch (beautiful daytona). When I said it wasn't mine she looked horrified & then got my watch. This does not instill confidence...

[Debaser]

Might be worth checking they haven’t valued the wrong watch too.

[paulguitar]

Debaser said:

Might be worth checking they haven’t valued the wrong watch too.

Yep, there has been a mix-up there.

[AJB88]

100% not valued the correct watch, but depending on what Daytona the watch was the valuation seems low. Unless they valued something else completely.

[Tony1963]

When I had my watch valued at an AD two years ago, they used an independent valuer who provided a pack in a folder which included a full description of the condition of the watch and photographs.

OP, was your valuation like this, or just a quick note written on headed note paper?

[memps]

Haha. It was 100% my watch. I got 2 written valuations, one for me & one for the insurance company. The watch was pictured on both of these with a full description with a full letter with a disclaimer. The valuers name & credentials were on the correspondence. Cost of the valuation & service was £650.00. Got a quote from Chubb for insurance for £35k watches & home contents for just over 2k which I think is expensive. My direct line quote is this week so will check what they say.

[Tony1963]

£2k??? Jeepers. I should think that almost every insurance company will beat that. Depending on where you live, obviously, I’d have thought £400 per year.

[paulguitar]

memps said:

Haha. It was 100% my watch.

Is it a 16610, OP, IE the steel version?

£8-10k is where these are, if so.

I'm wondering if we've all misunderstood and it's a 116613?

[DOHDUBMAN]

There is no way the 11610 or 16610 sub is valued that much currently. Unless it's a red-letter 16610?

[anonymous-user]

memps said:

Put my 2009 sub with date in for a service at Mappin & Webb, I bought it used for about £3.5k in 2009 & this is the second service in that time. I also asked for a valuation for insurance thinking it would come back at the highest between £6 & £7k. They valued it at £13.500. I think the world has gone crazy. I don't want to sell but if I did - to buy back into the market other model prices must have gone up as well. Just thought I would relay this as I think that this market is inflated and cannot be sustained. I would not buy my watch for this amount because of this -- & also there are so many other watch makers that can be bought for similar prices with higher horology quality.

Just my thoughts

Also, an anecdote, when I went into the shop to pick up my watch - the person serving brought out the wrong watch (beautiful daytona). When I said it wasn't mine she looked horrified & then got my watch. This does not instill confidence...

Rolex prices and the market in general have been discussed extensively for the past 2 years or so.

Long running thread on it here:

https://www.pistonheads.com/gassing/topic.asp?h=0&...

[memps]

Please see

[paulguitar]

memps said:

Please see

So it is indeed a 16610. Utterly perplexing valuation, see if they will buy it off you!

[anonymous-user]

memps said:

Please see

That is nuts.

If you traded it in anywhere or sold it privately I would expect around £6000-6500.

[AJB88]

I'd sell it to them and then buy another.

[DOHDUBMAN]

Lord Marylebone said:

That is nuts.

If you traded it in anywhere or sold it privately I would expect around £6000-6500.

Which is what I just paid for an immaculate 16610 full box and papers sub last week.

Certainly not even close to the OP's evaluation.

Edited by DOHDUBMAN on Tuesday 15th December 09:48