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.”

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Watch of the Week: TAG Heuer Formula 1 | Kith

The legendary sports watch returns, but with an unexpected twist.

By Josh Bozin 02/05/2024

Over the last few years, watch pundits have predicted the return of the eccentric TAG Heuer Formula 1, in some shape or form. It was all but confirmed when TAG Heuer’s heritage director, Nicholas Biebuyck, teased a slew of vintage models on his Instagram account in the aftermath of last year’s Watches & Wonders 2023 in Geneva. And when speaking with Frédéric Arnault at last year’s trade fair, the former CEO asked me directly if the brand were to relaunch its legacy Formula 1 collection, loved by collectors globally, how should they go about it?

My answer to the baited entreaty definitely didn’t mention a collaboration with Ronnie Fieg of Kith, one of the world’s biggest streetwear fashion labels. Still, here we are: the TAG Heuer Formula 1 is officially back and as colourful as ever.

As the watch industry enters its hype era—in recent years, we’ve seen MoonSwatches, Scuba Fifty Fathoms, and John Mayer G-Shocks—the new Formula 1 x Kith collaboration might be the coolest yet. 

TAG Heuer
TAG Heuer

Here’s the lowdown: overnight, TAG Heuer, together with Kith, took to socials to unveil a special, limited-edition collection of Formula 1 timepieces, inspired by the original collection from the 1980s. There are 10 new watches, all limited, with some designed on a stainless steel bracelet and some on an upgraded rubber strap; both options nod to the originals.

Seven are exclusive to Kith and its global stores (New York, Los Angeles, Miami, Hawaii, Tokyo, Toronto, and Paris, to be specific), and are made in an abundance of colours. Two are exclusive to TAG Heuer; and one is “shared” between TAG Heuer and Kith—this is a highlight of the collection, in our opinion. A faithful play on the original composite quartz watch from 1986, this model, limited to just 1,350 pieces globally, features the classic black bezel with red accents, a stainless steel bracelet, and that creamy eggshell dial, in all of its vintage-inspired glory. There’s no doubt that this particular model will present as pure nostalgia for those old enough to remember when the original TAG Heuer Formula 1 made its debut. 

TAG Heuer
TAG Heuer

Of course, throughout the collection, Fieg’s design cues are punctuated: the “TAG” is replaced with “Kith,” forming a contentious new brand name for this specific release, as well as Kith’s slogan, “Just Us.”

Collectors and purists alike will appreciate the dedication to the original Formula 1 collection: features like the 35mm Arnite cases—sourced from the original 80s-era supplier—the form hour hand, a triangle with a dot inside at 12 o’clock, indices that alternate every quarter between shields and dots, and a contrasting minuterie, are all welcomed design specs that make this collaboration so great. 

Every TAG Heuer Formula 1 | Kith timepiece will be presented in an eye-catching box that complements the fun and colour theme of Formula 1 but drives home the premium status of this collaboration. On that note, at $2,200 a piece, this isn’t exactly an approachable quartz watch but reflects the exclusive nature of Fieg’s Kith brand and the pieces he designs (largely limited-edition). 

TAG Heuer
TAG Heuer

So, what do we think? It’s important not to understate the significance of the arrival of the TAG Heuer Formula 1 in 1986, in what would prove integral in setting up the brand for success throughout the 90’s—it was the very first watch collection to have “TAG Heuer” branding, after all—but also in helping to establish a new generation of watch consumer. Like Fieg, many millennial enthusiasts will recall their sentimental ties with the Formula 1, often their first timepiece in their horological journey.  

This is as faithful of a reissue as we’ll get from TAG Heuer right now, and budding watch fans should be pleased with the result. To TAG Heuer’s credit, a great deal of research has gone into perfecting and replicating this iconic collection’s proportions, materials, and aesthetic for the modern-day consumer. Sure, it would have been nice to see a full lume dial, a distinguishing feature on some of the original pieces—why this wasn’t done is lost on me—and perhaps a more approachable price point, but there’s no doubt these will become an instant hit in the days to come. 

The TAG Heuer Formula 1 | Kith collection will be available on Friday, May 3rd, exclusively in-store at select TAG Heuer and Kith locations in Miami, and available starting Monday, May 6th, at select TAG Heuer boutiques, all Kith shops, and online at Kith.com. To see the full collection, visit tagheuer.com

 

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8 Fascinating Facts You Didn’t Know About Aston Martin

The British sports car company is most famous as the vehicle of choice for James Bond, but Aston Martin has an interesting history beyond 007.

By Bob Sorokanich 01/05/2024

Aston Martin will forever be associated with James Bond, ever since everyone’s favourite spy took delivery of his signature silver DB5 in the 1964 film Goldfinger. But there’s a lot more to the history of this famed British sports car brand beyond its association with the fictional British Secret Service agent.

Let’s dive into the long and colourful history of Aston Martin.

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What Venice’s New Tourist Tax Means for Your Next Trip

The Italian city will now charge visitors an entry fee during peak season. 

By Abby Montanez 01/05/2024

Visiting the Floating City just got a bit more expensive.

Venice is officially the first metropolis in the world to start implementing a day-trip fee in an effort to help the Italian hot spot combat overtourism during peak season, The Associated Press reported. The new program, which went into effect, requires travellers to cough up roughly €5 (about $AUD8.50) per person before they can explore the city’s canals and historic sites. Back in January, Venice also announced that starting in June, it would cap the size of tourist groups to 25 people and prohibit loudspeakers in the city centre and the islands of Murano, Burano, and Torcello.

“We need to find a new balance between the tourists and residents,’ Simone Venturini, the city’s top tourism official, told AP News. “We need to safeguard the spaces of the residents, of course, and we need to discourage the arrival of day-trippers on some particular days.”

During this trial phase, the fee only applies to the 29 days deemed the busiest—between April 25 and July 14—and tickets will remain valid from 8:30 am to 4 pm. Visitors under 14 years of age will be allowed in free of charge in addition to guests with hotel reservations. However, the latter must apply online beforehand to request an exemption. Day-trippers can also pre-pay for tickets online via the city’s official tourism site or snap them up in person at the Santa Lucia train station.

“With courage and great humility, we are introducing this system because we want to give a future to Venice and leave this heritage of humanity to future generations,” Venice Mayor Luigi Brugnaro said in a statement on X (formerly known as Twitter) regarding the city’s much-talked-about entry fee.

Despite the mayor’s backing, it’s apparent that residents weren’t totally pleased with the program. The regulation led to protests and riots outside of the train station, The Independent reported. “We are against this measure because it will do nothing to stop overtourism,” resident Cristina Romieri told the outlet. “Moreover, it is such a complex regulation with so many exceptions that it will also be difficult to enforce it.”

While Venice is the first city to carry out the new day-tripper fee, several other European locales have introduced or raised tourist taxes to fend off large crowds and boost the local economy. Most recently, Barcelona increased its city-wide tourist tax. Similarly, you’ll have to pay an extra “climate crisis resilience” tax if you plan on visiting Greece that will fund the country’s disaster recovery projects.

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Omega Reveals a New Speedmaster Ahead of the Paris 2024 Olympics

Your first look at the new Speedmaster Chronoscope, designed in the colour theme of the Paris Olympics.

By Josh Bozin 26/04/2024

The starters are on the blocks, and with less than 100 days to go until the Paris 2024 Olympics, luxury Swiss watchmaker Omega was bound to release something spectacular to mark its bragging rights as the official timekeeper for the Summer Games. Enter the new 43mm Speedmaster Chronoscope, available in new colourways—gold, black, and white—in line with the colour theme of the Olympic Games in Paris this July.

So, what do we get in this nicely-wrapped, Olympics-inspired package? Technically, there are four new podium-worthy iterations of the iconic Speedmaster.

Omega

The new versions present handsomely in stainless steel or 18K Moonshine Gold—the brand’s proprietary yellow gold known for its enduring shine. The steel version has an anodised aluminium bezel and a stainless steel bracelet or vintage-inspired perforated leather strap. The Moonshine Gold iteration boasts a ceramic bezel; it will most likely appease Speedy collectors, particularly those with an affinity for Omega’s long-standing role as stewards of the Olympic Games.

Notably, each watch bears an attractive white opaline dial; the background to three dark grey timing scales in a 1940s “snail” design. Of course, this Speedmaster Chronoscope is special in its own right. For the most part, the overall look of the Speedmaster has remained true to its 1957 origins. This Speedmaster, however, adopts Omega’s Chronoscope design from 2021, including the storied tachymeter scale, along with a telemeter, and pulsometer scale—essentially, three different measurements on the wrist.

While the technical nature of this timepiece won’t interest some, others will revel in its theatrics. Turn over each timepiece, and instead of a transparent crystal caseback, there is a stamped medallion featuring a mirror-polished Paris 2024 logo, along with “Paris 2024” and the Olympic Rings—a subtle nod to this year’s games.

Powering this Olympiad offering—and ensuring the greatest level of accuracy—is the Co-Axial Master Chronometer Calibre 9908 and 9909, certified by METAS.

Omega

A Speedmaster to commemorate the Olympic Games was as sure a bet as Mondo Deplantis winning gold in the men’s pole vault—especially after Omega revealed its Olympic-edition Seamaster Diver 300m “Paris 2024” last year—but they delivered a great addition to the legacy collection, without gimmickry.

However, the all-gold Speedmaster is 85K at the top end of the scale, which is a lot of money for a watch of this stature. By comparison, the immaculate Speedmaster Moonshine gold with a sun-brushed green PVD “step” dial is 15K cheaper, albeit without the Chronoscope complications.

The Omega Speedmaster Chronoscope in stainless steel with a leather strap is priced at $15,725; stainless steel with steel bracelet at $16,275; 18k Moonshine Gold on leather strap $54,325; and 18k Moonshine Gold with matching gold bracelet $85,350, available at Omega boutiques now.

Discover the collection here

 

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Here’s What Goes Into Making Jay-Z’s $1,800 Champagne

We put Armand de Brignac Blanc de Noirs Assemblage No. 4 under the microsope.

By Mike Desimone And Jeff Jenssen 23/04/2024

In our quest to locate the most exclusive and exciting wines for our readers, we usually ask the question, “How many bottles of this were made?” Often, we get a general response based on an annual average, although many Champagne houses simply respond, “We do not wish to communicate our quantities.” As far as we’re concerned, that’s pretty much like pleading the Fifth on the witness stand; yes, you’re not incriminating yourself, but anyone paying attention knows you’re probably guilty of something. In the case of some Champagne houses, that something is making a whole lot of bottles—millions of them—while creating an illusion of rarity.

We received the exact opposite reply regarding Armand de Brignac Blanc de Noirs Assemblage No. 4. Yasmin Allen, the company’s president and CEO, told us only 7,328 bottles would be released of this Pinot Noir offering. It’s good to know that with a sticker price of around $1,800, it’s highly limited, but it still makes one wonder what’s so exceptional about it.

Known by its nickname, Ace of Spades, for its distinctive and decorative metallic packaging, Armand de Brignac is owned by Louis Vuitton Moët Hennessy and Jay-Z and is produced by Champagne Cattier. Each bottle of Assemblage No. 4 is numbered; a small plate on the back reads “Assemblage Four, [X,XXX]/7,328, Disgorged: 20 April, 2023.” Prior to disgorgement, it spent seven years in the bottle on lees after primary fermentation mostly in stainless steel with a small amount in concrete. That’s the longest of the house’s Champagnes spent on the lees, but Allen says the winemaking team tasted along the way and would have disgorged earlier than planned if they’d felt the time was right.

Chef de cave, Alexandre Cattier, says the wine is sourced from some of the best Premier and Grand Cru Pinot Noir–producing villages in the Champagne region, including Chigny-les-Roses, Verzenay, Rilly-la-Montagne, Verzy, Ludes, Mailly-Champagne, and Ville-sur-Arce in the Aube département. This is considered a multi-vintage expression, using wine from a consecutive trio of vintages—2013, 2014, and 2015—to create an “intense and rich” blend. Seventy percent of the offering is from 2015 (hailed as one of the finest vintages in recent memory), with 15 percent each from the other two years.

This precisely crafted Champagne uses only the tête de cuvée juice, a highly selective extraction process. As Allen points out, “the winemakers solely take the first and freshest portion of the gentle cuvée grape press,” which assures that the finished wine will be the highest quality.  Armand de Brignac used grapes from various sites and three different vintages so the final product would reflect the house signature style. This is the fourth release in a series that began with Assemblage No. 1. “Testing different levels of intensity of aromas with the balance of red and dark fruits has been a guiding principle between the Blanc de Noirs that followed,” Allen explains.

The CEO recommends allowing the Assemblage No. 4 to linger in your glass for a while, telling us, “Your palette will go on a journey, evolving from one incredible aroma to the next as the wine warms in your glass where it will open up to an extraordinary length.” We found it to have a gorgeous bouquet of raspberry and Mission fig with hints of river rock; as it opened, notes of toasted almond and just-baked brioche became noticeable. With striking acidity and a vein of minerality, it has luscious nectarine, passion fruit, candied orange peel, and red plum flavors with touches of beeswax and a whiff of baking spices on the enduring finish. We enjoyed our bottle with a roast chicken rubbed with butter and herbes de Provence and savored the final, extremely rare sip with a bit of Stilton. Unfortunately, the pairing possibilities are not infinite with this release; there are only 7,327 more ways to enjoy yours.

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