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opinions on rolex? (esp if you've owned one for a long time)

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taxico
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opinions on rolex? (esp if you've owned one for a long time)

Postby taxico » Fri, 08 May 2009 7:04 pm

the days of wearing leather strapped watches are coming to an end as i will be based in singapore for a few years beginning this november.

i've read multiple stories about how 30 year old busted and broken rolexes, sent back to the service center by their longtime owners, all coming back looking like new... and faithfully continuing to serve their owners or their heirs.

for practical and monetary purposes (buying a home in singapore), i've been thinking of selling my entire watch collection and owning only 1 rolex (a sub or a gmt2).

this isn't a watch forum, so i feel safer seeking opinions here. if you're male and have had a rolex for a some time, i'd like to seek your ownership experience(s).

even better if it's your only watch. bonus points if you're not a watch collector.

no flames, please.

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Postby ksl » Mon, 11 May 2009 11:41 pm

I have been several times to eye ball the Rolex watches and i would love one, but I've not yet managed to find the right price.

Even a second hand Daytona I was looking at was 30k Sing$, the problem is I have a good idea of the cost prices, which means I will probably never ever recover the money I invest in a Rolex, unless I can get one at the right price.

I know that isn't much use to you, if you have already made your mind up, But i would say, if you are buying one, to really get a good bargain on it. Like flouting the hard earned readies under their nose, after you have decided how much you will pay.

The margins are just :roll: and if you ever get hard up, it's not going to bring what you expect it too in a pawn shop, although I'm pretty sure you are well in the know, actually the pawn shop maybe the cheapest place to buy second hand just lately, I know many people have been pawning their watches, because of heavy losses in the markets!

I will remark on wear and tear in Singapore, and I'm sure many watch makers will back me up on this. The salts that are lost through perspiration on the wrist, seep in through the winder, even if it is fully water proof to a 1000ft, the mixture of salts rot the seals, and perspiration gets inside the watch, rusting any parts, that can rust.

I was rather disappointed with my kinetic Sportura watch, that was only 1400$ and 15 month old, now I have a bill for 300$ to have some parts replaced. 15 months is very short time, when you don't even touch the winder.
I explained to customer service that I thought it was more of a default at that price, one expects quality.

I have many cheap watches, that I never have a problem with. Just something to think about here in Singapore, I would be furious if it happened to a Rolex

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Postby taxico » Tue, 12 May 2009 11:00 am

i have been looking at a gmt2 (the discontinued one) or a submariner as those 2 models seemed to have proven quite durable.

but i doubt i will buy one brand new, just one in good condition.

1. purchasing price:

i'm currently not in singapore yet, and where i'm at, certain bargains can be found from time to time (about 1-1.25 grand SG$ cheaper).

regardless, the prices of rolex are not about to fall anytime soon. there's no such thing as a "cheap" rolex watch, even second hand.

i would go for one of those pawnshop pieces if the price is right... but... there's that rust and tropical weather that you mentioned...

2. cost of ownership & durability:

i do worry about the servicing cost because that's part of the reason why i want to get rid of my own watch collection...

to prevent water damage, servicing has to be done regularly (at a cost - even if it's not with the official service center).

my old man's rolex has been with him for over 25 years while he spent many many years in/out of asia, yet he's only serviced it once when the crystal shattered - came back looking like new.

according to him, its accuracy has always been consistent despite the different weathers of different continents and he occasionally pours hot water over it to soften and clean the "gunk".

so i guess i could be like some people: skimp on regular servicing and have it billed all at once much later on...

also, rolex will almost always be able to fix a watch no matter how destroyed it is, and restore it to like-new condition (again, at a cost).

3. re-sale value:

i notice most people lose little money (comparatively) on a rolex when they sell it a year or more down the road (to someone else, not to a dealer/pawnshop), due to the mandated regular price increase.

the hit only happens when they buy and sell it within a short period of time. even now with inflation considered, rolexes bought in the 60s and 70s have retained their values.

4. push factor:

i've destroyed many croc straps in singapore weather, and have the insides of a good dress watch suffer from "moisture damage" once (bill came to about $5000 swiss francs).

this rolex idea was a recent phenomena. it might have something to do with an eventual 3 year stint (maybe longer?) in singapore.

but now as i'm getting older, and i have more pressing concerns, i can no longer afford to service all my watches regularly, or even continue buying more watches.

i'm about to buy a place in singapore, i still have tuition to pay for and save my pay to start a family.

whenever i'm in singapore, i usually wear a 9 year old seiko, as i can abuse it and i can sterilize it if necessary.

unfortunately, it was never very accurate, and it once had its insides entirely replaced after being smashed while scuba diving.

i didn't want to throw it out as i had sentimental attachments but seiko refused to work on it.

(it hit a reef wall and was flooded when a freak current and rain of bubbles pulled me down to 70-90 meters. my first stage was also damaged when i was dragged down and leaking profusely. running out of air, i couldn't kick my way up...)

anyway, i survived thanks to a turtle (yes, it's one of those stories), so i ordered a bunch of parts and had a guy fix it up best he can. but even after adjustment, it still wasn't running within desired accuracy.

you can't tell, but the bezel doesn't work properly and the case, especially on the side, is very very badly scratched.

Image

with the above write up, it's plain to see i'm sold on the idea of owning one rolex.

so i think my best solution is to attach a stainless steel strap, wear the heck out of the trusty seiko (ignoring the inaccuracy), and start selling my entire watch collection.

once that's accomplished, i'll wait for a good deal on a gmt2/sub and buy it. i won't service it unless i have the change, but i won't be too worried either.

btw, sporturas are really good looking pricey watches, but i wouldn't go to seiko singapore for service.

i have a titanium seiko that they damaged and refused to admit. you're better off sending it back to japan at that price.

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Postby QRM » Tue, 12 May 2009 12:59 pm

If you buy the more desirable Rolexs early daytona, red or double red subs, military etc. you cant go wrong.

I bought my stainless steel Daytona second hand, which at the time seem like a ridiculous price it cost more than a new one :shock: but 10years later its worth almost triple what I paid for it, with the down turn maybe its double now. If you bought one of the early paul newman daytonas or a military sub in the 70s you would be laughing now they exchange hands for 30-40k pounds (which explains the proliferation of fake vintages)

There's a huge market in fake vintage Rolex or the watches are real but have been butchered with spare Rolex parts to make it into a rare model.

Contrary to popular belief, they are not that accurate your average quartz watch keeps better time, but if you get the right one it will last for years and hold its value. The secret is trying to guess which models are going to be the next daytona.

Alot of traditionalist think the new batch of rolexs are catering to the transformer, mainland new money crowd. You either like them or hate them.

Its cheaper in Hong Kong, you can get a brand new one for the price of a second hand one in Singapore. If you are in the market for a new one, the UK is still actually a good place, with the weak pound and the return of the VAT at the airtport you can get some good deals.

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Postby taxico » Tue, 12 May 2009 4:38 pm

the persistent price increase was one of the reason why i thought if i wanted to get one, i should just get one sooner than later.

unfortunately as much as i like the vintage domed subs, i can't justify spending money on them as i'm not buying with investment in mind...

and because i'm getting one for the purpose of thrashing it to death, a modern piece might suit me better.

i fully accept that a non-quartz watch can never be as accurate as a quartz watch. but accuracy-wise, some brands churn out models that are "consistent."

eg, i have a manual wind watch that runs for 8 days once fully wound. across a period of 1 week, it's still almost spot on (+1 second/week).

i have an automatic watch that over a week, runs 3 seconds quicker.

my seiko beater on the other hand, runs almost 3 minutes slow a week. naturally, the seiko is ALOT cheaper...

i've been actually thinking about a green submariner (no, wait, hear me out!) - i'll change the green bezel into a black one for day to day use.

it comes with a nicer dial and hands too!

thanks for the UK tip... i might ask a friend to get one for me when she pops out of LHR the next time (august!) : )))

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Postby QRM » Tue, 12 May 2009 5:41 pm

taxico wrote:
i've been actually thinking about a green submariner (no, wait, hear me out!) - i'll change the green bezel into a black one for day to day use.

it comes with a nicer dial and hands too!



Funny I got one it was a bit of a punt thinking that was the next daytona, though they said it was a special 50th anniversary model everyone assumed it was just for that year, but Rolex kept producing them and flooded the market, so while still rare there are plenty around. Once you change the bezels rolex wont service the watch anymore.

There are a couple for sale direct from the owners on the Singapore rolex forum, usual caveats apply get it verified by the service center before parting with the cash

Good for you, can never figure out folk who buy all these lovely watches, silverware cutlery, exotic cars and keep them locked up never to use them.

ksl wrote:I have been several times to eye ball the Rolex watches and i would love one, but I've not yet managed to find the right price.


LOL there is never a right price for a rolex bit like getting pregnant there never seems to be the right time.

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Postby taxico » Wed, 13 May 2009 12:40 pm

okay! it's on!

i've located a somebody who goes for the annual watch fair in hong kong!

she's gonna pick up a little somethin somethin for me!!! september 2009!!!

apparently many regional buyers attend it for all the good bargains... :)

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Postby QRM » Wed, 13 May 2009 1:22 pm

Or look for one of these, its from my brother lovely collection of rare vintages. A Tiffany and co. Rolex red sub

Image

He said that the auction are the places where all the Frankenstein Rolexs end up, all butchered with wrong dials, hands part numbers. So read between the lines on the auction catalog. The auction houses are in the business to make money while they wont sell you a fake, they will be very creative with the wording to cover their butts, watch out for words like "Immaculate refurbished dials", or "upgraded with new parts" "comes with a new strap" etc.

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Postby taxico » Wed, 13 May 2009 3:40 pm

so, a... where does this brother of yours live... :)

that is an AWESOME watch! AWESOME AWESOME!!!

sghas;ghagas;lghkS'G'LKH

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Postby durain » Thu, 14 May 2009 8:23 pm

during the boom time, i asked about the IWC top gun. because i was on flip flop and 10 years old mangle t-shirt, the shop wasnt too interested about my enquiry. i bet now they will show a bit of interest if i enquire about it again or put my name on the wait list (if there is still a wait list!).

btw, my brother had his rolex serviced in the rolex service center and it came out like brand new! all the scratches on the bucket were gone! dont know how they do it but they are brilliant!!! had it service in KL so it was much cheaper.

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Postby taxico » Fri, 15 May 2009 8:16 am

durain wrote:during the boom time, i asked about the IWC top gun. because i was on flip flop and 10 years old mangle t-shirt, the shop wasnt too interested about my enquiry. i bet now they will show a bit of interest if i enquire about it again or put my name on the wait list (if there is still a wait list!).

btw, my brother had his rolex serviced in the rolex service center and it came out like brand new! all the scratches on the bucket were gone! dont know how they do it but they are brilliant!!! had it service in KL so it was much cheaper.


i know what you mean about the rolex service - isn't it amazing??? BANG and the dirt is gone!

well... i steer clear of some IWCs because they aren't in-house manfacture...

which store/branch did you go to? was this singapore? it's not overly unusual unless you're a regular, but i think the least you could have done was to ask to see many different watches before leaving... : )

(don't get the topgun!)

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Postby ksl » Sat, 16 May 2009 5:02 pm

There is an auction at the Hilton this weekend I believe Rolexs' damn I have lost the paper, so not sure if it was this weekend or next. I think it was in the one we shouldn't mention.

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Postby taxico » Thu, 28 May 2009 8:15 pm

i thought i would give a quick update on my quest...

having tried out a few watches at the local AD, i've decided i'm getting a no-date submariner.

the problem now is in finding one with the older style design but with the newer movement, and preferably in mint condition...

Imagenot my pic, naturally... : )

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Postby QRM » Thu, 28 May 2009 9:58 pm

Just saw a green bezel in the second hand place at Funan digital mall.

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Postby durain » Fri, 29 May 2009 12:01 am

QRM wrote:Just saw a green bezel in the second hand place at Funan digital mall.


is that the corner shop at the end? if that's the shop, they got some classic watches.


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