Classic, timeless design or particular X factor
Similar to the Porsche 911, the design of a watch must be timeless and reflect a historically recognizable design. This is true of such classics as the Omega Speedmaster, Rolex Submariner, and Audemars Piguet Royal Oak models. Brands that change their model names every 5–10 years and are inconsistent in their design choices will never become true classics. Breitling is a good example of a company that—apart from its classic Navitimer model—has not managed to take advantage of a strong brand to obtain collector status. Breitling has always been known for making popular designs and changing model designs from season to season, following current trends. This, however, does not make for iconic designs or collector’s classics worth investing in.
Omega Speedmaster Moonwatch classic edition, which has not changed much at all since 1965. Its combination of a persistent design and an excellent history is what makes the Speedmaster a collector’s item and a good long-term investment even if it were not a Rolex.
Breitling Chronomat from the 1990s in a design and size very typical of the time. Because of its lack of timelessness and classic feel, this watch is not particularly coveted by collectors.
ROLEX SUBMARINER 1680
The first reference with a date function was introduced in 1968 and produced until 1979. The version with white Submariner text is the most affordable and was in production from around 1975 to 1979. During this period, you can get a lot of vintage watch for your money. The watch features a distinctive "top-hat" crystal, raised above the bezel. From a collector's perspective, it may be overshadowed by its earlier dial variant, the Red Submariner, which makes its price quite attractive.
Rolex Submariner 1680 with white text indeed lives in the shadow of the Red Submariner, and its price is quite attractive. In fact, a well-preserved 1680 can be acquired for approximately the same price as its six-digit successors. Since this model was only produced for 4 years, it holds considerable investment and collector potential. The price trend includes both the Red and white 1680 variants, with the white version typically being about 25-30% below the trend when considered separately.
Rolex Submariner 1680
Price Range: $11,000-14,500
Investment Potential: 7
Mid-level
ROLEX RED SUBMARINER 1680
Identical to the white Submariner 1680 but featuring red Submariner text on the dial, this model was produced in various dial variations from 1968 to 1975. As is typical with Rolex vintage watches, the older Red Submariners tend to be more valuable. The Red Sub is a highly sought-after vintage Rolex with significant collector's value. Even though it was produced for a longer period and in larger quantities than the white version, its price is still nearly double. This model is a vintage classic that is unlikely to experience a drop in demand. However, buyers should exercise caution, as dials are often subject to renovation, and the price closely correlates with the condition of the watch.
The Red Submariner has always been expensive and continues to be so. The price trend combines both the Red and white 1680 variants, with the Red Submariner typically being about 25-30% above the trend when considered separately. The price heavily depends on the condition of the dial. However, the high price does deter many buyers, leading to a moderate expected annual increase of 2-5%.
Rolex Red Submariner 1680
Price Range: $19,000-38,500
Investment Potential: 6
THE ROLEX SEA-DWELLER 16660
The 16660 with a matte dial, also known as "Pallettoni," belongs to the transitional models where the matte dial meets sapphire crystal. This model was only produced from 1979 to 1984. From 1984 to 1987, the model had a glossy dial and is not as attractive, as it is almost identical to the 16600. Examples with boxes and papers have seen significant price increases, so a watch without accessories can still be a good choice. It's an atypical Sea-Dweller model that is likely to maintain collectors' interest in the future.
The Rolex Sea-Dweller 16660 with a matte dial has been in demand for many years, and prices have consistently been high. As a result, the price increases have not been as dramatic as those seen with many other five-digit Rolex models. This model was highly sought after before the financial crisis and experienced a decline afterward. It's only in recent years, around 2014/15, that it has started to gain value again. Given its relatively high price range, there may be limited room for further significant increases in value.
The Rolex Sea-Dweller 16660
Price Range: $16,000-25,000
Investment Potential: 6
ROLEX DAYTONA 16520
The 16520, also known as the "Zenith Daytona" due to the origin of its movement, is clearly the most sought-after five-digit sports model. The model shares the same design characteristics as the current 126500, with narrow sub-dials. It is available in many dial variations, with the oldest ones being the most desired. Look for tritium versions from before the A-series, preferably with box and papers. However, the prices for these are 25% higher than those without.
The Rolex Daytona 16520 has always been an expensive watch but has been somewhat overshadowed by the four-digit Daytona models. When the 116500 was introduced in 2016, the price of the 16520 started to rise, going from $11,000 to $23,000 in just two years. The price has experienced a slight drop since 2022, but considering the prices of four-digit Daytona models, the 16520 still has room for growth, albeit at a more moderate pace, with annual increases of around 3-6%.
Rolex Daytona 16520
Price Range: $25,000-200,000
Investment Potential: 7
The above is a small selection of potential investments in five-digit Rolexes. Many other models are not listed here but are also sensible investment items. There is no five-digit steel sports model that I would advise against investing in. All are in great
demand as long as they are in good condition and the price is fair. Several references have stagnated or dropped in price, so keep this in mind if you are investing purely for profit. Some really good investments are waiting out there now.
Here are some key variants of the GMT 1675 that one should be aware of:
1959-1964:
Gilt dial with a chapter ring, Pointed Crown Guard case, and a small GMT hand.
1964-1967:
Gilt dial without a chapter ring, standard crown guard, and a small GMT hand.
1967-1972:
Matte dial MK1 Long-E, standard case, and a large GMT hand.
1972-1980:
Matte dials MK2-6, standard case, and a large GMT hand.
1974-1977:
Matte dial with a Radial pattern, MK3, standard case, and a large GMT hand.
GMT-Master 1675 from 1977 features a well-known Pepsi bezel and a nicely patinated dial and hands. The patinated tritium dials are something that collectors seek out.
GMT-Master 1675
Production period: 1959–1980
Crystal: Plexi
Movements: Cal. 1565 (1959–1964); cal. 1575 (1965–1980)—both without “quick set date”
Waterproof: Up to 50 m
Diameter: 40 mm
Bracelet (end links): 20 mm
1959–67: Oyster Rivet 7206 (58), or 6636 (58)
1967–75: Oyster Folded 7836 (280)
1975–80: Oyster Fat 78360 (580)
1967–75: Jubilee Folded 6251H (55)
1975–80: Jubilee 62510H (555)
GMT-Master 1675 is the most common older GMT and a true collector's classic. This popularity is due to the model's well-known reputation and the availability of many fine variants within an acceptable price range. With a production span of 21 years, a large number of these watches were produced. You can acquire a real vintage piece for around $14,000-16,000, making this model an excellent starting point for your vintage Rolex journey.
Dial variants
Some of the editions mentioned above come in additional dial variants with minor differences and component overlaps. Nonetheless, understanding the general editions is valuable, as they categorize watches into different collector's and price tiers.
Gilt dials
Dials can generally be divided into two types: gilt and matte. Gilt dials were used from 1959 to 1966. After that, matte dials took over and continued until 1980. Gilt dials are the most sought-after, deriving their name from the gold-colored text on the dial. Besides their color, these dials also feature a shiny surface known as a "gloss."
If you are interested in acquiring a Gilt dial 1675, you must familiarize yourself extensively with the different dial variants from 1959 to 1966. This document chapter doesn't cover Gilt dials in-depth, as they are primarily pursued by hardcore collectors. Prices can vary, but as a rule of thumb, older models are generally more expensive, provided their condition is comparable. I wouldn't recommend that beginners purchase a Gilt dial 1675 without unbiased expert guidance. These watches typically range from $20-50,000, and the value disparity between an original and a refurbished piece can easily be double that amount. Be cautious—many people attempt to sell refurbished models at the same price as original ones, elevating the market risk. Condition and originality are critical when it comes to Gilt dials. If you can’t afford an original condition watch, it may be wiser to opt for a later top condition matte dial watchversion.
GMT 1675 with the Pointed Crown Guard and Gilt Dial from the early 1960s. Notice the unique shape of the crown guard, earning it the nickname PCG (Pointed Crown Guard). (HQ Milton)
For more information and a more detailed review of Gilt dials, visit GMTMaster1675.com.
The robust case of the 16760, as seen here, is also the reason for its nicknames “Fat Lady” and “Sophia Loren.” This sturdy case design is unique to the 16760 model.
The most common bezel insert for the 16760 is the one with medium-font serifs and a pointed 4, referring to the thickness of the font used and the shape of the numeral 4 with its pointed top on the inside.
crucial to inspect the condition of the movement. Note that the date wheel should feature a white “Open 6” if it is to be considered original. You may want to refer to a section on checking the movement’s condition for further details on what to look for when examining the watch.
Summary of the GMT 16760
The primary factor that significantly differentiates prices for the 16760 is the MK (Mark) on the dial. MK1 “No-date” versions are listed at considerably higher prices, although they may not be widely sought after by collectors.
GMT-Master 16700
Production Period: 1988–1999
Crystal: Sapphire
Movements: Cal.3175 automatic with a quick-set date, no manual GMT-hands control
Waterproof: Up to 100 m
Diameter: 40 mm
Bracelet (End Links): 20 mm
1988–96: Oyster Fat 78360 (501)
1996–99: Oyster Fat incl. flip-lock 78790 (501)
1988–99: Jubilee 62510H (555)
Introduced in 1988, the GMT 16700 replaced the 16750, offering an upgraded sapphire crystal and a newer movement. However, it still lacked the individual GMT-hand control, a feature exclusively available in the GMT-Master II models 16760 and 16710. As a result, the 16700 never gained significant traction; most consumers favored the more advanced 16710. To this day, the 16700 remains perhaps the least popular GMT model ever produced, as evidenced by its lower demand and, consequently, lower price levels.
The easiest way to differentiate between a 16700 and a 16710 is by looking at the text above the 6 o'clock position: the 16700 features "GMT-Master," whereas the 16710 displays "GMT-Master II."
Here are some key variants of the Rolex GMT-Master 16700 that one should be aware of:
1988-1995
This period featured watches with Tritium dials (Swiss made – T<25), Oyster 78360 bracelets, and open 6 date wheels (until 1992).
1995-1998:
Watches from this period continued to have Tritium dials (Swiss made – T<25) but came with Oyster 78790 bracelets.
1998-1999:
During this year range, the watches featured Luminova dials (Swiss) and Oyster 78790 bracelets.
1999:
In 1999, watches in this series had Super Luminova dials (Swiss made) and Oyster 78790 bracelets.
The GMT 16700 was the last GMT-Master model without manual GMT-hand control. This model was discontinued due to its lack of popularity compared to the GMT-Master II edition.
The two case types of 5513.
Above:
Pointed Crown Guard from 1962-1964
Below:
Round Crown Guard from 1964-1989
Case variants
The 5513 comes in two case types, distinguishable by the shape of the crown guard:
Based on their production periods, it goes without saying that the most common version is that with the round crown guards, which is also reflected in the pricing.
Note that 5512 and 5513 share cases, and there may be a reference number engraving on the case back that reads “5513” on 5512 and vice versa. Between the lugs at 12 o'clock, the numbers should match the watch's reference number. It is most common to find a 5513 case back on 5512 models from the 1960s and 1970s. This is because 5513 was produced in larger quantities, and for convenience, Rolex fitted these case backs on 5512s as well. In watches made before 1973, you can identify the age by a stamp on the case back, indicating its quarter and year of manufacture. If a watch predates 1973 and lacks the year engraving, the case back is not original.
The bezels used on the 5513 models are 100% identical to those used on other divers' models from the same period. My review of these bezel insert MKs can be found as part of my general review of four-digit Submariner models.
Movement variants
The movements in 5513 came in two types: Non-COSC 1530 (1962–65) and Non-COSC 1520 (1964–91). There is not much difference between the two; both are solid movements. However, it is crucial to check that the caliber number matches the vintage of the watch. This is easily done, as cal. 1520 has a hacking function that stops the second hand when the crown is pulled, whereas cal. 1530 does not. For further details, consult the section on assessing the condition of the watch's movement.
Variants of 5513
Submariner 5513 functioned as a bona fide tool watch, used in both military and business contexts. These specialized models are known as Comex reference 5514 and Milsub reference 5517. Both are extremely sought after and expensive due to the limited number produced. If you are considering acquiring one, expect to pay upward of $75,000+ for the Comex and over $130,000+ for an original 5517. Obtaining these watches generally requires expert guidance, given the prevalence of fraud and counterfeit parts.
A Comex 5514 features the characteristic logo on the dial and a number on the case back. A Milsub 5517 has sword hands, full-minute markers on the bezel, and a T-logo on the dial. 5517 come with permanent strap bars (thus lacking lug holes), meaning it can only be fitted with NATO clasps. This design choice aimed to eliminate the risk of faulty spring bars causing the watch to fall off during combat (source: HQ Milton, Phillips.com).
Final thoughts on 5513
Prices for reference 5513s vary widely depending on factors such as age, dial/case variant, and condition. If you are looking at different versions, anticipate prices starting at approximately $10,000. Since reference 5513 is mainly a collector's model, it is important that the condition is good and that the parts are original. You are better off buying a less attractive but well-preserved variant than opting for a more desirable version in merely decent condition.
The initial Submariner 14060 version from the 1990s features a tritium dial. Notice the pearl, which is more patinated than the dial and hands—a common sight.
The no-date Submariner from the late 1990s to the early 2000s is reference 14060, the first no-date Submariner with a sapphire crystal, which replaced the popular 5513 model. This model has always been sought after and is considered a sensible purchase if you are in the market for a daily-wear Submariner with investment potential. Wearing this model reflects a more nuanced "collector's knowledge" of Rolexes than a newer six-digit Submariner—a signal many people appreciate. Furthermore, many consider the five-digit Submariner to be the last definitive tool watch from Rolex. Times have changed, and the purposes of watches have evolved as well.
The slim case profile of 14060 makes the watch less voluminous on the wrist compared to the newer maxi cases. For this reason, many people are drawn to the size of 14060. The bracelet was arguably the 14060's weakest point throughout the 2000s. Rolex opted not to upgrade to the SEL bracelet in 2000–2001, as they did with other sports models, and instead continued with the somewhat outdated Oyster 93150. This bracelet, which has been used in Submariners since the mid-1970s, was highly functional but did not match competitors' bracelets in terms of construction and quality feeling.
There is little difference between 14060 and 14060M, with only minor changes made to the movement. For the average consumer, the dis-
tinction between the two editions in terms of functionality is negligible. It is more important to focus on the condition of the watch rather than whether it is 14060 or 14060M. Both movements work flawlessly, and the upgrade was not made to address any specific issues with the cal. 3000.
In 2008, 14060M received a COSC-tested movement, just as other sports models had always had. The dial design was modified, changing from two lines of text to four lines above the 6 o'clock position. This final edition was produced until 2012, when it was succeeded by reference 114060.
Submariner 14060M with COSC and 4-line dial. This edition is the most sought-after 14060 and commands high prices. It is certainly a good investment model and a fantastically comfortable watch.
Here are the key variants of the Rolex Submariner 14060/ 14060M to be aware of:
Year Dial Variant
Rolex Submariner 14060:
1989-1998 Tritium “Swiss T<25” dial
1998-1999 Luminova “SWISS” dial
1999-2001 Super luminova “Swiss made” dial
Rolex Submariner 14060M:
2001-2008 Super luminova “Swiss made” 2-line dial
2008-2012 Super luminova COSC “Swiss made” 4-line dial and Rehaut RRR case
The dial
Daytona steel models are generally available in two dial colors: white/ silver with a black subdial and black with a white/silver subdial. These are found in the well-known Paul Newman version, in which the dial design is different from the classic look.
Four-digit Daytonas come with both silver/ white and black dials with contrasting color subdials. The black dial with white subdials (like this ref. 6239 from 1968) is often called the reverse Panda dial, while the white one with black subdials (like the 6263 from 1986 shown here) is known as the Panda.
If there ever was a dial that drew the attention of collectors, the Daytona model’s dial is it. In the most popular references, the order of the writing can make a particular variant rare and coveted and affect the price.
Special four-digit Daytonas appear every now and then on the international collectors’ scene and garner hype because of their unique dials or some other rare-variant. Many of these watches turn out to be modified or composite "Frankenstein" watches. Indeed, an estimated 50% of all existing Newman dial Daytonas are fakes. When the dial alone has a value of $100,000+, there are many skilled specialists in the industry who cannot resist the temptation. Unfortunately, the owner’s or seller’s status in collectors' circles means that no one dares contradict their claims concerning the watch's originality and provenance.
In the broadest sense, perhaps the most popular manual Daytona is ref. 6263, which many consider the perfect Daytona due to its screw pushers and black bezel. This model comes in several different dial variants, and the regular version begins at around $65,000. A 6263 model with a black Newman dial—the rarest version—may cost up to a million USD. The dial really is all-important on these models.
The most popular Rolex models ever made display a Daytona Newman dial. They are available in several versions and have a very distinctive speedometer subdial layout. They are available in both white and black across various ref. numbers, like this ref. 6239 from 1967, with pump pushers and a steel bezel.
Ref. 6263s, with a Paul Newman dial (right) and a regular Big Red reverse Panda dial (left). Only the dial is different, but the price is around 10 times higher on the Newman edition.
In 2000, Rolex switched from Luminova to Super-Luminova. There are only a few 14270s with MK 5–6 dials from 2000, which were made immediately before the model was discontinued. In the period between 2000 and 2008, the 114270 came with a mixture of MKs 5–7. In 2008, the Rolex engraving was added to the rehaut, and the MK8 was introduced. This dial was produced up until 2010, when ref. 114270 was discontinued.
MK5 2000-08
- White super luminova in the 3-6-9 markers
- P in Perpetual placed to the right of L in Explorer
- A in MADE aligns with the 29-minute marker
- Round O in Explorer
- Explorer text without serifs
MK6 2000-09
- White super luminova in the 3-6-9 markers
- P in Perpetual placed to the right of L in Explorer
- D in MADE aligns with the 29-minute marker
- Oval O in Explorer
- Explorer text with serifs
MK7 2002-09
- White super luminova in the 3-6-9 markers
- P in Perpetual aligns with L in Explorer
- A in MADE aligns with the 29-minute marker
- Round O in Explorer
- Explorer text without serifs
MK8 2008-10
- White super luminova in the 3-6-9 markers
- P in Perpetual placed to the right of L in Explorer
- The 29-marker aligns between A and D in MADE
- Oval O in Explorer
- Explorer text without serifs
In addition to these six original dials, a few service dials were made. The most common are the MKs 5–7 with Super-luminova. Keep in mind that these dials must not be fitted to a watch older than 2000, as they would then be replacement dials changed during service.
Collectors have not yet begun to geek out over Explorer dials in 14270/114270 except the MK1 “Black out”. The edition differentiation enables you to verify that the dial lumen matches the age of the watch.
Case Variants
Ref. numbers 14270/114270 come in three case variants:
1989–1994: With continuous lug holes
1994–2008: Without continuous lug holes
2008–2010: Without continuous lug holes and with a Rolex engraving in the rehaut
Ref. 114270’s case in 36 mm without lug holes from 2003-2008.
