Rolex’s Newcomers Are Already Worth More Than Retail

Stocks, cryptocurrencies, and other collectibles have nothing on Rolex.

By Victoria Gomelsky 09/08/2021

Newbies to the world of watch collecting are consistently advised to buy what they love, and to avoid looking at timepieces as investment vehicles. Yet this year, more than ever, buying a new Rolex model from an authorised dealer and selling it on the secondary market is virtually guaranteed to bring returns that (dramatically) outperform the stock market.

Take, for example, the new 36mm Rolex Explorer in Oystersteel (ref. 124270). Introduced at Watches and Wonders Geneva in April for a retail price of $9000, the model is currently valued between $13,650 and $15,300 on Chrono24, which bills itself as “the world’s largest marketplace for luxury watches.” As of Aug. 3, the reference was fetching a premium of 66.4 per cent above retail.

On Watchfinder & Co., the U.K.-based pre-owned watch retailer acquired by Richemont in 2018, ref. 124270 is going for nearly double its retail value at £9,200, or $17,369. And on Watchbox, a pre-owned retailer based in Philadelphia, the market price ranges from $14,970 to $15,500.

Rolex Explorer Ref. 124273 in Two-Tone

Rolex Explorer Ref. 124273 in Two-Tone Rolex

The new 36 mm two-tone Rolex Explorer in Oystersteel and yellow gold (ref. 124273) is also earning a significant premium on the secondary market, with prices on Chrono24 going for 32.5 per cent over its list price of $15,250 (with its estimated worth falling anywhere between $18,000 and $21,310). Meanwhile, the reference is selling for $20,400 on WatchBox, and £12,000, or $22,655 on Watchfinder.

“The price growth trajectory for new 2021 Rolex models on Chrono24 definitely follows the same pattern Rolex has proven year over year as the most consistently sought-after brand on our marketplace,” Chrono24 co-CEO Tim Stracke wrote in an email. “Values continue to tick very much upward.”

The frenzy on the secondary market has reached a fever pitch, say dealers.

“I took a week off and everything has gone up—again,” Carol Altieri, chief operating officer of the online pre-owned Rolex dealer Bob’s Watches, wrote in an email. “Prices are up 30 per cent almost across the board on not only the Rolex ‘regular’ hot sport models, but all models, from ladies’ models to Datejusts and Cellinis. It must be getting boring to hear this!”

Rolex Explorer II Ref. 226570

Rolex Explorer II Ref. 226570 Rolex

The new Explorer II (ref. 226570), which retails for $12,400 “is the most elusive right now,” says Altieri. “We pay 20-30 per cent over retail, and they sell as soon as we put them on site, at 10 per cent profit. Not sure where the market is going to take this one yet. The white dial Explorers have always commanded a higher value than the black.”

The Explorer II noted above is available for nearly two times its retail value on Chrono24. The same is true on Watchfinder. There, the white dial version of ref. 226570 is selling for £11,950, or about $21,320 while the black dial version is priced slightly lower at £11,450, or about $21,600.

Rolex Cosmograph Daytona Meteorite Dials

Rolex Cosmograph Daytona Meteorite Dials Rolex

In short, virtually every Rolex model introduced in April—from the references noted above to the yellow gold Daytona with the meteorite dial (ref. 116508), which retails for $57,850 but lists for £66,950, or $126,400, on Watchfinder—is selling well above retail.

Rolex Datejust 36 Ref. 126200 in Oystersteel

Rolex Datejust 36 Ref. 126200 in Oystersteel Rolex

Consider the 2021 crop of Datejusts. The steel Datejust 36 with the palm frond dial (ref. 126200) is currently available for $22,240 on Chrono24, more than double its $9,900 retail value. And the fetching two-tone Datejust 36 in Oystersteel and yellow gold (ref. 126233-038), which retails for $15,500, has an estimated worth on Chrono24 between $19,300 and $23,140. Meanwhile, Watchfinder values the golden-dial reference from £11,150 to £12,400, or $23,050 to $23,410.

And don’t get us started on the most coveted reference from Rolex’s 2020 introductions, the new $11,400 Submariner (ref. 124060). Chrono24 calculates its current value between $17,500 and $18,850, while Watchfinder is selling the model for as much as £12,325, or $17,130, and WatchBox has it priced between $18,375 and $19,050.

Rolex Submariner Ref. 124060

Rolex Submariner Ref. 124060

Elsewhere in the Rolex pantheon, the interest in classic, and classically unobtainable, references continues to grow.

“Precious metal Daytonas have exploded — from yellow gold greens (ref. 116508-0013) to white gold blues (ref. 116509-0071), and the white gold on Oysterflex (ref. 116519ln-0027) — all of which are commanding over retail market values,” says Justin Reis, co-founder and CEO of WatchBox. “Oysterflex prices are even higher than some all-gold models! Of course, the steel ceramic Daytona (ref. 116500LN-0001) is as strong as ever, actively trading in the high $30ks.”

Chrono24’s Stracke says collector interest in discontinued models is also driving prices higher on older references.

“It’s important to point out that in our community of collectors, it’s not just the novelties that create accelerated pricing frenzies—it’s also about the models that have been consequently discontinued,” he says. “In this case, Rolex announced at Watches & Wonders earlier this year that it would be retiring its Explorer II (Ref. 216570) and it left collectors willing to pay soaring prices before it was no longer available.”

For buyers lucky enough to have a good relationship with an authorized Rolex dealer, requests must be made well in advance of any special occasions.

At Wempe, a prominent Rolex retailer in New York City, there are no such thing as “waiting lists” for Rolex models, which would suggest a chronological order to fulfilling requests. “We try to be part of people’s lives and special occasions and we have longstanding relationships with customers who expect we’d have something for them if their kid is graduating or getting married,” says Wempe US president Ruediger (“Rudy”) Albers. “But we obviously want to get new customers. So we proceed to create relationships and find the customers that love the product for all the right reasons.”

“Many customers do not know what’s going on in the secondary market and do not know what demand is like, so we need to educate them,” he says. “Once it’s properly worded, most people understand if it takes a few months or a few years to get it, that’s the story.”

ADVERTISE WITH US

Subscribe to the Newsletter

Stay Connected

You may also like.

Show Stopping Fun

Robb Report Australia and New Zealand teamed up with Sydney Harbour Concours d’Elegance in late February to celebrate a weekend of fine motor cars on Cockatoo Island.

By Robb Report Team 04/03/2025

Robb Report Australia & New Zealand and Citizen Kanebridge, the new private members’ club brought to you by this masthead’s publishers, offers exclusive access to magical experiences and unrivalled networking.

This year’s Sydney Harbour Concours d’Elegance on Cockatoo Island did not disappoint. Our invited guests—including speakers Gerard Doyle, General Manager ASX Refinitiv Charity Foundation; Ant Middleton, the British adventure and TV personality turned hydration-drink disruptor and owner R3SUP; and Lex Pedersen, CEO of automotive investment firm Chrome Temple—enjoyed unlimited access to the three-day event and an elegant sufficiently of Champagne, wine and whisky, as well as an exquisite catered lunch inside the Citizen Kanebridge Private Members’ Lounge. They enhanced their experience by VIP transport to and from the mainland via superyacht.

Courtesy of Sydney Harbour Concours d’Elegance

The British-born event, which also has iterations at Pebble Beach in California and Hampton Court Palace in England, once again teamed up with the world’s most prestigious marques (among them Aston Martin, Bentley, Brabus, Genesis, Lamborghini, McLaren, Rolls-Royce and Porsche), to display their latest supercars alongside the pageant of owner-driven vintage vehicles.

Courtesy of Sydney Harbour Concours d’Elegance

On Sunday, Robb Report’s Editor-in-Chief Horacio Silva treated guests to a special preview of the winners of this our annual Car of the Year awards, showcased in our coming March 2025 issue. Our lips are sealed.

Courtesy of Sydney Harbour Concours d’Elegance

To learn how to become a member of our exclusive new community, visit Citizen Kanebridge.

Thank you to the following sponsors: Whisky and Wealth, Jacob & Co, Wine Selectors, Mulpha, Jackson Teece, Young Henry’s and Resup.

Buy the Magazine

Subscribe today

Stay Connected

Patron’s New Ultra-Premium Tequila Is a Reposado Blend That Punches Way Above Its Age

Patron’s latest luxury tequila is a blend of ages.

By Jonah Flicker 13/03/2025

There are certain categories in the tequila world that indicate how long the spirit has been matured, so what happens when you combine a few of them together into one release? Patron is the latest brand to get in on this multiple-maturation blending action with the new high-end El Alto release, a combination of tequilas aged for different lengths of time.

In the whisky world, an age statement represents the minimum age of the liquid that’s in the bottle—in other words, a 10-year-old scotch may have liquid much older than that in the blend, but 10 years represents the minimum age. When it comes to tequila, there are also rules in regards to how it has to be labelled based on maturation, and like whisky that depends on the youngest liquid in the blend. The core of El Alto is an extra anejo tequila (the exact proportion isn’t revealed), meaning it was aged for a minimum of three years. But master distiller David Rodriguez decided to blend some anejo (aged one to three years) and reposado (two months to one year) tequila into the mix as well, making this an expression that is defined as reposado instead of extra anejo even though it has some ultra-aged liquid in the blend.

According to the brand, 11 different types of barrels were used to mature the tequila in El Alto, with the majority being hybrid barrels consisting of American oak bodies and French oak heads—each type of wood is thought to impart different flavours into the spirit. “The tequilas that harmoniously come together in Patron El Alto are a result of selecting the finest 100 percent Weber blue agave in the highest parts of Jalisco, Mexico, a territory known for producing the sweetest agaves,” said Rodriguez in a statement. “We took four years to focus on only the best of the best and perfect the bold, sweet flavors of this expression the right way: naturally.”

This type of multi-aged tequila seems to be part of a growing trend, with a few other brands releasing similar high-end expressions including Cincoro and Volcan de Mi Tierra. Perhaps it’s a way of stretching supplies or a tactic to get consumers to dip their toes (or tongues, preferably) into another luxe tequila, a category that is growing every year.

This month Australians are getting an exclusive taste of the El Alto as this formerly USA-exclusive release is launching here with The Bacardi Group. You can find El Alto in selected hospitality venues and at Barrel & Batch for $298 as these chic spots that represent the “pinnacle of celebrating momentous occasions,” according to the brand.

 

Buy the Magazine

Subscribe today

Stay Connected

Neutral, Not Boring: How to Wear This Season’s Most Stylish New Menswear

The soft tones of California’s Joshua Tree provide a perfect backdrop for the season’s refined yet relaxed vibe.

By Naomi Rougeau And Alex Badia 04/03/2025

Amid spring 2025’s myriad trends, there was one connecting element: colour. From Alessandro Sartori’s rusty hues at Zegna to Loro Piana’s subdued neutrals, the palette was more sun-bleached than saturated, and the muted tones of California’s Joshua Tree provide a perfect backdrop for the season’s refined yet relaxed vibe.

Stylists Naomi Rougeau and Alex Badia, teamed up with photographer Brad Torchia to create these casual looks that turn a bold statement into a confident whisper.

Brad Torchia

Berluti leather jacket, $14,067; L.B.M. 1911 merino crewneck, $450; Dolce & Gabbana linen trousers, $1,921; Zenith 37 mm Chronomaster Revival in steel, $13,987.

Photo: Brad Torchia

Umit Benan silk jacket, silk shirt, and linen trousers, all prices upon request; Dolce & Gabbana suede loafers, $1600; Girard-Perregaux 38 mm Laureato Sage Green in steel, $23,954.

Photo: Brad Torchia

Brunello Cucinelli linen shirt, $1500; Loro Piana linen trousers, $908; Zenith 37 mm Chronomaster Revival in steel, $13,987.

Photo: Brad Torchia

Anderson & Sheppard cotton jacket, $4,421; Gabriela Hearst cashmere turtleneck, $1,430; Louis Vuitton cotton jeans, $2n138; Tod’s suede sneakers, $1438.

Photo: Brad Torchia

Canali wool, silk, and linen tweed blazer, $4,011; Thom Sweeney silk shirt, $876; Paul Smith mohair trousers, $908; Church’s patent-leather loafers, $1,768; Parmigiani Fleurier 40 mm Tonda PF Micro-Rotor No Date Golden Siena in steel and platinum, $40,675.

Photo: Brad Torchia

Paul Smith cotton trench, $3528; Ferragamo cashmere sweater, $1,752, and cotton trousers, $4389; Dolce & Gabbana suede loafers, $1599.

Photo: Brad Torchia

Hermès denim shirt, $1,647, and belted cotton chinos, $1,366.

Photo: Brad Torchia

Loro Piana cotton cardigan, $4,381, and linen shirt, $1,768; Todd Snyder linen trousers, $639; Zegna Triple Stitch leather sneakers, $1,768; Morgenthal Frederics sunglasses, $2,564; Berluti silk scarf, $1,221; Parmigiani Fleurier 40 mm Tonda PF Micro-Rotor No Date Golden Siena in steel and platinum, $40,675.

Photo: Brad Torchia

Thom Sweeney cashmere and merino sweater, $956; Brunello Cucinelli linen shorts, $1045; Manolo Blahnik raffia and leather loafers, $1,438.; Leisure Society sunglasses, $1905; Zenith 37 mm Chronomaster Revival in steel, $13,987.

Photo: Brad Torchia

Kiton jean jacket, $6061; Officine Générale cashmere sweater, $932; Brioni wool trousers, $1,768; Ralph Lauren Purple Label leather belt, $562; Morgenthal Frederics sunglasses, $52081; Zenith 37 mm Chronomaster Revival in steel, $13,987

 

 

Buy the Magazine

Subscribe today

Stay Connected

This New York Jewellery Gallery Is Offering up a Treasure Trove of Vintage Watches

The Mahnaz Collection’s first formal collection of timepieces will include rare finds with fascinating histories

By Paige Reddinger 04/03/2025

There was a period when Mahnaz Ispahani Bartos found it hard to hold on to a watch. The prominent collector and dealer often would post pictures on social media of the uncommon, sculptural timepieces she purchased for herself. But every time, clients of her eponymous jewellery gallery—New York City’s Mahnaz Collection—would hound her into selling them.

“They found those photographs, and they are just diligent in bothering me,” she says with a laugh, adding that some would simply persist until she changed her mind about letting them go.

In response to that demand, this month her Madison Avenue space will begin offering its first formal collection of unique watches, curated with the same rigor and studious eye Ispahani Bartos has applied to sourcing rare jewellery. (Her specialty is the hard-to-find fare made by artists, designers, goldsmiths, and architects.) One coveted example is a gold-and-diamond pendant watch handmade by the late Italian-born avant-garde designer Andrew Grima, whose work was beloved by the British royal family. This example from his historic collaboration with Omega was made in the 1970s. Lesser known but no less noteworthy is the Spanish designer Augustin Julia-Plana, who created a gold-and-jadeite watch for his brand Schlegel & Plana, also in the ’70s. “He was a great jeweller and watch designer,” says Ispahani Bartos of Julia-Plana, who penned striking and visually creative work for everyone from Chopard to Tiffany. “He specialised in really unusual stones,” she adds, noting that he died far too young at age 41.

An 18-carat gold and jadeite watch designed by Augustin Julia-Plana, circa 1970.
Photographed by Janelle Jones/Styled by Stephanie Yeh

Ispahani Bartos knows something about legacy. Born in Bangladesh—when it was still called East Pakistan—she grew up in a culture steeped in traditions of wearing and appreciating jewellery. She recalls her grandmother giving her earrings made from yellow gold, turquoise, diamonds, and Burmese rubies at age 7. (Too young to wear them, she put them on her dolls’ ears for safekeeping. Both were lost when her family fled the violence of the country’s 1971 revolution; the ship carrying their belongings, she says, was sunk by an enemy carrier.)

When she was a teenager, her mother gifted her one of Omega’s Grima-designed watches, which she still owns. That early introduction to rare design influenced her own collecting journey, which turned into her full-time job when she opened her gallery in 2013.

“I didn’t focus on watches then, but increasingly, where I have an important jewellery collection where the jeweller also made watches, I started to feel like, ‘How can I not have that person’s watches?’ ” she says.
From left: Omega and Andrew Grima Winter Sunset pendant watch in 18-karat yellow gold, smokey quartz, and citrine crystal with Swiss manual-wind movement, circa 1968; Piaget bracelet watch in 18-karat yellow gold and tiger’s eye with Swiss manual-wind movement, circa 1970.
Photographed by Janelle Jones/Styled by Stephanie Yeh

That comprehensive approach befits Ispahani Bartos’s previous career and intellectual curiosity. After earning a Ph.D. in international relations, she served as a foreign- and security-policy expert for an array of global organisations, including the Ford Foundation and the Council on Foreign Relations.

She still employs the deep preparation she once used in the aid of diplomacy, researching every piece that comes into her hands, creating extensive and beautiful catalogs for the collections, and crafting museum-style exhibitions to present them to collectors. And this work, she says, takes ages. She’ll soon debut an Italian collection whose catalog she has been researching and preparing for nearly a decade, and her vault currently houses some Ettore Sottsass–designed watches she has been holding back for the right moment. “We tend to build collections all the time, collections we don’t show for years,” she says. Which means you never know what pieces might be hiding in the Mahnaz Collection—or the yet-to-be-told stories that may accompany them.
At top from far left: Omega De Ville Emerald bracelet watch designed by Andrew Grima in sterling silver with a tropical dial; Patek Philippe Golden Ellipse in 18-karat gold; Jaeger-LeCoultre Mystery watch in 18-carat gold and diamonds; Cazzaniga watch in 18-carat gold, diamonds, and sapphires with movement by Piaget; Gilbert Albert watch in platinum, 18-carat gold, and diamonds with movement by Omega. The pieces, made between the 1950s and ’70s, all have Swiss-made manual-wind movements. 

Buy the Magazine

Subscribe today

Stay Connected

Penfolds Saves Best For Last with Show-Stopping Release with Creative Partner NIGO

Penfolds has just dropped their limited-edition 65F by NIGO Cabernet Sauvignon Shiraz, a mouthwatering wine you need to nab now.

By Belinda Aucott-christie 28/02/2025

Though Penfolds holds many wonderful wines in its star-studded suite, their latest collaboration with NIGO is earmarked as a sure-fire collector’s item.

Retailing for $395 a bottle, the Penfolds 65F by NIGO is expected to sit snugly alongside the likes of Grange and Bin 389 as a standout single-vintage wine connoisseurs will vie for in years to come.

This prize wine isn’t just delicious and highly collectible, it looks the part. It features branding by artistic director and creative visionary NIGO, the founder of cult streetwear brands A Bathing Ape and Human Made, a pal of Pharrell Williams and current creative director of French fashion house Kenzo. For the box and packaging NIGO was inspired by the towering 65-foot chimney that prevails over Penfolds South Australian home, Magill Estate.

Penfolds archival material served as NIGO’s inspiration for the inclusions within the gift box and on the wine label. A chalkboard wine tag with coinciding chalk pencil pays homage to the chalk boards used in the original working winery at Penfolds Magill Estate and allows the opportunity for personalisation of the wine if used as a gift. The bottle label features a design which takes inspiration from the pressed bottle labels from the 1930-50s, and the tissue paper wrapping the bottle has been adapted from the Penfolds logo style used in the early 20th century. NIGO’s signature playful design style is emphasised with a chimney smoke wine stopper.

Inside it’s a classic embodiment of the way South Australian winemakers blend cabernet sauvignon with shiraz to stunning effect.

As a result this wine has a mouth-watering palate with plenty of fine grain tannins and silky mouth feel. A nose enriched with spicy nutmeg, cardamom and cassis is layered over blueberry compote and lush fig on a palate. There’s lots of blueberry soufflé, gamey tones and just a hint of fennel seed, with more complexity to come as the years fly by.

All the base wines were sourced from grapes grown in South Australia’s top wine regions of Coonawarra, Barossa Valley, McLaren Vale and Clare Valley. And while the 65F by NIGO Cabernet Sauvignon Shiraz is being released now, it will continue to reward cellaring for years to come.

Penfolds first announced NIGO as its Creative Partner in June 2023, with the global release of One by Penfolds. This was closely followed by the launch of Grange by NIGO (the first takeover of Penfolds flagship red wine) in February 2024, followed by Holiday Designed by NIGO in October 2024.A classic for the ages.

Penfolds 65F by NIGO Cabernet Sauvignon Shiraz 2021 is available globally from Thursday 27 February 2025 (RRP AUD$395.00 for 750ml). Available via Penfolds.com, at select Dan Murphy’s stores nationally and select independent retailers.

Buy the Magazine

Subscribe today

Stay Connected