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A Rare Rolex Submariner Sold for Over £200,000 at Auction

November 17th, 2020
Rolex submariner Gardiner Houlgate

Gardiner Houlgate auctioneers in Wiltshire sold a rare Rolex Submariner Reference 5512 for £210,000 to a collector based in Hong Kong. This Submariner 5512 features an incredibly rare “3-6-9” dial.

The original owner of the watch worked as a medical attendant at the former Shirebrook Colliery, Mansfield. He is known to purchase the Submariner on his 40th birthday.

However, the fascinating fact is that the miner purchased this Rolex Submariner with a rare dial only for £70 in 1964. And today, the watch fetched more than £200,000 at auction.

The Rare Rolex Submariner 5512

The auctioneer and director at the Wiltshire auction house, David Hare, was extremely contented by the result. He asserted that –

The sum of £210,000 is overwhelming for a timepiece that cost only £70 nearly 54years ago.

Moreover, this Rolex Submariner watch had much sentimental attachment with the family of the late owner. Eventually, the family was overjoyed with the price that their sentimental piece fetched at auction.

It was unexpected for them as the family never confronted anything like this ever before.

The Rolex Submariner Reference 5512 featuring the unique “3-6-9” dial layout is indeed rare. However, Gardiner Houlgate has earlier sold nine iterations of this particular model. In May 2016, a Rolex Submariner with the similar Explorer 3-6-9 dial hammered down for £ 192,000.

However, the daughter and son-in-law of the original owner who also resides in Mansfield sold this rare Rolex Submariner.

David Hare said in a statement –

“It never ceases to amaze me that, after 60years, we are still able to discover such rare pieces.”

The Reason Behind the Watch’s Six-Figure Value

The coal miner at the Shirebrook Colliery in Mansfield purchased this unique Submariner 5512 in 1964 as his 40th birthday present. After he died in 1995, the timepiece passed down to his daughter and son-in-law.

And this sentimental piece sold for £210,000 in total that left the miner’s family elated. However, the most significant reason behind the new six-figure price of the timepiece is the scarce 3-6-9 Explorer dial.

Rolex produced the Submariner 5512 versions with this face during the early 1960s for a shorter period. So the Submariners flaunting this unique Crown 62 dial type is very limited in numbers.

The fact is that when Rolex received these watches for servicing, they replaced the original dial with a new one. So Submariners featuring their original “3-6-9” dial are extremely rare to find.

And fortunately, the Mansfield miner’s Submariner Reference 5512 is one of those that retain it, contributing to its new six-figure value. Additionally, the watch had its original box, booklet and also, the original owner’s scanned pictures strapping his pride and joy.

The son-in-law of the miner stated –

“Things like this just don’t happen to us. Having worked all our lives to be able to enjoy retirement, this will give my wife and I the added financial security we’ve dreamt of”.

The original owner actually shifted to Mansfield for working in the mines during the Second World War as a part of the then-government conscription programme “Bevin Boys”.

However, he then worked as a bus driver of East Midlands for a time. Later, he rejoined as a medical attendant in the mines. In 1955, the miner died.

David Hare added, “This sale proves it’s worth checking through your drawers to see what’s there”. And it is indeed a piece of wise advice.

Check through your drawers too to see whether there is an old or vintage Rolex watch that you no longer intend to use. Instead of letting it gather dust lying in the drawer, you can decide to sell your Rolex watch and raise cash that you can further use to invest in a new one or any other things.

Your old Rolex timepiece can fetch you hundred thousands of pounds. So get a free valuation today from trusted Rolex watch buyers in London at The Luxury Hut.

Fill up our online form, providing all details on your watch and get a free quote shortly. Or call on 0207 242 5411 now for an instant appraisal over the phone.

Service Your Rolex Watch

October 19th, 2020
sell my rolex watch

Rolex makes its watches using the highest quality components and maintaining the highest standards. They are robust and durable, ensuring to last a lifetime.

However, like any other mechanical items, a Rolex watch also needs periodic maintenance and proper care. So experts recommend servicing your Rolex watch regularly at its specified service intervals.

This will keep your luxury timepiece in its perfect mechanical condition, retaining its sheen at the same time for many years. And it will add to the overall value that you are likely to obtain when you sell your Rolex watch in the pre-owned market.

Reasons to service your Rolex watch

Generally, mechanical watches need servicing because lubricants break down with time. While the primary motive is to reduce friction, watchmakers use various specialised lubricants throughout their watch’s movement.

Eventually, the movement functions smoothly with little friction as much as possible. Now:

  • If the lubricants seize up, it can augment the friction and eventually, damage the components.
  • Earlier, a watch was recommended servicing every year or two.
  • However, as the lubricant system or materials improved, the service interval has increased significantly over the decades.

Today, Rolex uses modern movement designs and new lubricants. Thus, the service interval of a Rolex watch has increased to at least every ten years for ensuring top-notch performance.

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How often should you service Rolex watches?

All contemporary Rolex watches require servicing about every ten years. While they are built to last for years, your Rolex watch may function smoothly far longer than its recommended service time.

  • However, it is better to get it serviced before it begins to show any problems.
  • This will help in minimising wear and keep your timepiece in the best condition as much as possible.

On the contrary, you may require servicing an old or vintage Rolex watch more frequently, especially if you wear it daily.

However, many vintage Rolex watches are highly collectable. And their collectability and value is significantly dependant on their main features being original.

With this in mind, servicing a vintage Rolex model is often a dubious matter. In that case, it is recommended that owners should at least store their vintage watches in a secure box, preferably in its original box.

The Rolex Servicing Process

It would help if you never try to service your Rolex watch by own at home. Keep in mind that your luxury watch houses a highly precise automatic movement and other delicate components. It needs specialised equipment as well as substantial knowledge for proper servicing.

  • Thus, service your Rolex timepiece only by a professional or by Rolex itself.
  • While servicing, the watch is entirely disassembled, including its case and movement.
  • Everything is cleaned, oiled and then, re-assembled.

If ever you decide to sell your Rolex watch to raise fast cash, make sure to provide the service receipt along with other essential documents (if any). This may increase the value and eventually, the final price that you are likely to receive for your pre-owned Rolex watch.

Want to sell Rolex watches in London for the best price? Fill up our online form now to get a free competitive quote shortly. Or call on 0207 242 5411 for an instant valuation over the phone.

5 Unknown Facts about the Vintage Rolex “Red Submariner” 1680

September 29th, 2020
sell Rolex submariner

The Red Submariner is one of the iconic Rolex watches that virtually all watch enthusiasts want to include in their collection. This rare, coveted vintage Rolex timepiece is difficult to find.

Considered as highly collectable, the Red Rolex Submariner commands a higher price than its non-red siblings. If you ever have the scope to get hands-on an original Red Sub Reference 1680, thanks to your lucky stars. This watch is indeed an excellent investment as it will retain great value with time.

So here we have jotted down some of the facts about the iconic Rolex Red Submariner 1680 that you probably do not know, especially if you are a new collector. However, these facts make the watch hold a historically significant place in the horology industry. Take a look!

  • It is the only Submariner to feature “SUBMARINER” text in red

Rolex ceased the production of the Red Submariner Reference 1680 in the 1970s. Since then, the brand offered all subsequent editions of the Submariner a wholly black and white dial.

Eventually, it becomes easier to identify the rare Red Sub timepieces. The colour and name instantly show up against the homogenous colour silhouette of the timepiece.

  • It is the first Submariner to receive a date functionality

The Rolex Reference 1680 was the first-ever Submariner to sport a date window at 3 o’clock side. Moreover, the Cyclops lens set above the date aperture offered better magnification.

However, while Rolex offered the watch an added date function, the brand also had to equip it with a new movement.

Thus, the Red Rolex Submariner Reference 1680 made its debut, housing the then-new Calibre 1575 movement.

  • It is the only Submariner Date model to sport an acrylic crystal

Rolex furnished the Red Submariner Reference 1680 with acrylic crystal. Interestingly, the watchmaker fitted every subsequent Date Submariner versions that start with the Reference 16800 with sapphire crystal.

This means that the Reference 1680 is the only Submariner Date edition to feature an acrylic crystal, thereby making it incredibly unique.

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  • The Red Rolex Submariner 1680 is available in seven dial types

What makes the Rolex Red Submariner 1680 collection more appealing is its dial variations. Indeed, Rolex offered this reference in seven different types of dials.

  • The Red Sub 1680 originally featured a Fat-Font bezel

Rolex unveiled the Submariner Reference 1680 initially offering a “fat-font” bezel. The bezel attained this moniker due to its thicker numerals on it.

However, this “fat-font” bezel showed the tendency of fading with time. Thus, the watchmaker replaced it with “thin-font” bezels during routine servicing.

Regardless, it is evident that spotting a Red Rolex Submariner Reference 1680 with the original “fat-font” bezel will be pretty challenging. However, it will be undoubtedly worth your effort.

Significant Features of the Rolex “Red Submariner” Reference 1680

  • Made of Stainless steel and comes with 40mm case diameter
  • Features a matte black dial with the name “SUBMARINER” engraved in the red hue
  • Fitted with Acrylic crystal and Cyclops lens above the date aperture
  • Comes with a 60-minute rotating bezel and the signature Oyster bracelet
  • Powered by Rolex Calibre 1575 movement
  • Water-resistant up to 200m (660ft).

Overall, these unique character traits mentioned above make the iconic Red Submariner 1680 one of the most coveted vintage Rolex watches in the world.

However, the market for vintage Rolex timepieces is booming today with surge prices. Thus, for those who are looking to upgrade their watch collection or simply, want to raise some fast cash, can decide to sell vintage Rolex watches with confidence.

Your luxury watch is likely to fetch you a premium from trusted vintage Rolex buyers at The Luxury Hut, especially if it is in excellent condition.

Fill up our online form now and get a free competitive quote. Or call on 0207 242 5411 for an instant appraisal over the phone.

Rolex Introduced New Datejust 31 Watches for 2020

September 21st, 2020
sell rolex datejust watch

Among the most awaited 2020 releases of Rolex are the four new Oyster Perpetual Datejust 31 watches. Rolex unveiled the new Datejust references with 31mm case size, targeting a female audience.

Moreover, these new watches are encased in the signature “Rolesor” that merges 18ct white gold with Oystersteel. The elite Swiss watchmaker also offered them in different colourways. The Rolex Datejust 31 of 2020 is indeed becoming a more popular model in the range of women’s watches.

It is considered as an extremely versatile watch that comes with a wide range of options. Continue reading below to explore all the essential features of the new Rolex Datejust 31 watches of 2020.

New Vibrant Faces

Among the recent Datejust 31 models, the first reference sports a gem-set bezel and a sunray-finished aubergine dial. It also features Roman numeral “VI” embellished with diamonds at 6 o’clock position.

  • However, the other three references come with white gold fluted bezels.
  • Rolex offered them in three dial options – a sunray-finished mint green dial, sunray dark grey dial and a white lacquer dial.

Moreover, each model features index hour markers, Roman numerals and hands, made up of 18ct white gold.

rolex watch buyers

The Case

Rolex introduced the new Datejust 31 offering a 31mm case size. However, the watch comes with the brand’s patented Twinlock water-resistance system. Overall, it is water-resistant up to 100m (330ft).

  • What protects the case and the dial of the new Datejust 31 is a scratch-resistance sapphire crystal.
  • It is further equipped with a Cyclops lens over the signature date window at 3 o’clock side.

Moreover, Rolex forged the new Datejust references out of the signature “Rolesor” – a unique combination of Oystersteel and 18ct gold.

The Movement

Rolex equipped the new Datejust 31 watches with the self-winding Calibre 2236 movement.

  • However, this movement is further fitted with Rolex’s patented syloxi hairspring, made up of silicon oxide and silicon.
  • When it comes to shocks, the syloxi hairspring is 10times more precise in comparison to a standard hairspring.
  • Moreover, the new Calibre 2236 movement also comes with a nickel-phosphorus paramagnetic escape wheel.

And the brand’s proprietary paraflex shock-absorbers help in boosting the shock resistance ability of the movement. The movement offers 55hours of power reserve.

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The Bracelet

Rolex offered every reference of the white “Rolesor” Datejust 31 two bracelet options – the dressier Jubilee five-link bracelet or a sportier Oyster three-link bracelet.

  • The new Rolex Datejust 31 versions with white lacquer and aubergine dials are fitted with the Oyster bracelet.
  • However, Rolex equipped the Oyster bracelet with Oysterclasp and Easylink extension.

On the other hand, the ones with dark grey and mint green-coloured dials come with the Jubilee bracelet and a concealed “Crownclasp”.

Significant Features of the New Rolex Datejust 31 Models

  • Each model comes in White Rolesor
  • New dial options include Aubergine, White Lacquer, Mint Green and Dark Grey
  • The model featuring Aubergine dial sports diamond bezel and Oyster bracelet
  • Other references come with 18ct white gold fluted bezel
  • The white lacquer dial model is fitted with Oyster bracelet; whereas, grey and green versions come with Jubilee bracelet
  • A new Rolex Calibre 2236 self-winding movement with Syloxi hairspring.

However, the new Rolex Datejust 31 with aubergine dial and diamond bezel retails for about £12,399. While the dark grey and mint green models are available for nearly £6,219, the white lacquer dial reference retails for about £6,026.

Regardless, are you looking to sell Rolex watches for the best price? Fill up our online form now to get a free competitive quote immediately.

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5 Best Casual Rolex Watches for Men

July 24th, 2020
sell rolex gmt master

Since its inception in 1905, Rolex has been relentlessly creating incredible pieces of technology and style that uplifted the standard of watchmaking. A Rolex watch is designed to underline one’s personality and style, working more than a mere timekeeper. Thus, it is no longer a paradox why Rolex is so expensive.

Rolex has indeed crafted some of the most versatile and best watches in the world. From the iconic Submariner, revolutionary Daytona to the composed Air-King and Cellini, there is a Rolex for every taste and lifestyle.

However, today we have listed some of the best casual Rolex watches for men that are prized for their classic aesthetics and minimalistic features. Also, they are indeed sought-after among collectors too.

Have a look!

Rolex Day-Date Reference 118139

The Rolex Day-Date President collection is most recognised and revered for their gold watches that portray status symbols.

In fact, the Rolex President Day-Date Gold is one of the most iconic editions of the collection. But it might not be a yellow gold watch that you would like to wear every day.

Thus, we have called attention to the Day-Date reference 118139 in this list of casual Rolex timepieces.

  • The watch is made up of 18ct white gold.
  • What boosts its elegant grace is the leather bracelet. However, it makes the watch pretty more comfortable to wear regularly.
  • Interestingly, the Oyster case and the scratch-resistant sapphire affix its label as a “contemporary Rolex”.

The watch is also water-resistant up to 100m. Moreover, the watch runs on the self-winding Calibre 3155 movement.

Rolex Air-King Reference 5500

With a simplistic design, durable steel polish and self-winding movement, the Air-King 5500 has all characteristics required to be an ideal casual watch.

The watch features a 34mm case that ensures comfortable wear on the wrist.

And the signature Rolex coronet set at the 12-hour position on the dial creates a subtle statement.

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Rolex Oyster Perpetual Reference 114300

The Rolex Oyster Perpetual has enjoyed one of the longest production runs.

The watch houses a perpetual movement that is equipped with the brand’s patented self-winding functionality.

  • However, it comes with an Oyster case, making the contemporary references water-resistant up to 100m.
  • The Oyster Perpetual 114300 features an elegant style, time-only legible dial and a smooth bezel.
  • Thanks to its minimalistic approach, the watch is a perfect casual Rolex to strap your wrist every day.

However, Rolex offers the model in different dial colour options to choose from, including a classic white dial and a vibrant red grape-toned dial.

The reference 114300 measures a 39mm case. Interestingly, it is the largest case size option available today in the Oyster Perpetual collection.

Rolex GMT-Master II Reference 116710

No doubt, the Rolex GMT-Master II is today one of the most coveted tool models in the brand’s catalogue.

If you consider its historical significance and top-notch functionalities, you cannot go wrong a Rolex GMT-Master II watch.

However, the specific model that we would highlight for this list of casual Rolex men’s watches is the GMT-Master II 116710.

  • The watch flaunts an Oystersteel case, a black ceramic bezel, a black dial and a scratch-resistant sapphire crystal.
  • Rolex equipped the reference 116710 with the Triplock crown to improve its water-resistant ability.

Moreover, the bezel features a ceramic insert, offering resistant to corrosion, fading and scratches.

Rolex Submariner Reference 16610

The Submariner is ideally the most recognised Rolex model in the world. Those who aren’t still aware might be interested to know why Rolex Submariner is so popular.

The Rolex Submariner is available in a wide array of dial, bezel and metal options. However, the classic steel version with black dial and bezel yet remains the most coveted.

  • The Submariner reference 16610 features a date window, an alluring luminescent display on the black dial, and a scratch-resistant sapphire crystal.
  • Moreover, a durable, self-winding Calibre 3135 movement powers the watch.
  • Also, it can reach up to a depth of 1,000ft underwater.

Thus, when it comes to casual Rolex watches, the Submariner Reference 16610 is a common choice.

Want to sell Rolex watches in London?

For those who are looking to sell Rolex watches in London for the best price, get in touch with the trusted watch buyers at The Luxury Hut.

Fill up a simple online form, providing all the details of your Rolex watch and receive a free competitive quote shortly.

The Luxury Hut offers a quick and secure way to sell Rolex both online and via appointment.

Thus, you can also call on 0207 242 5411 to book an appointment and visit our office in Hatton Garden, London with your asset.

We will assess your watch precisely and make you a final offer on the spot. Accept and get paid instantly.

Luxury Watches Endured the Effects of COVID-19 Due to Digital Marketing

July 3rd, 2020
submarine-theluxuryhut

The outbreak of COVID-19 was expected to decrease the luxury watch sales both in the retail and second hand market. But fortunately, the pandemic could not significantly influence the high-end watch market by reducing their sales across the world.

Thanks to the digital marketing and online channels, it boosted online sales dramatically than ever before.

Luxury watches are available in stainless steel, platinum, and gold and also may come with a rugged coating for durability in harsh conditions.

However, they are not immune to the pandemic situation. Eventually, the overall exports of Swiss watches decreased by nearly 81.3% in April.

But the interesting fact is:

The grandeur, value and appeal of these high-end watches continued to prove influential, even during the lockdown time.

  • The factory, workshop and boutique closed during the pandemic crisis
  • More significantly, the Chinese tourists also disappeared who make up much of the demand.

All these factors distressed the watch sales this year.

Although consumers were now more vigilant about spending because of COVID-19, Chinese dealers continued to sell watches online to especially local customers in the UK and the US.

However, at a time when Swiss watches’ exports were smashing into a low in April, British luxury watch dealers reported that they experienced a boost in the sales by about 82%.

Nearly 80% of their businesses come from domestic customers rather than passing traders or tourists.

It is further reported that –

Customers during the lockdown began shopping online from 8 a.m. till 10 p.m. And the scenario was the same every day.

Moreover, some watch specialists also stated that the level of conversion is much higher worldwide.

  • Although the traffic is less, a few people who are visiting want to shop.
  • Interestingly, the conversion is high on reduced traffic.
  • And it is eventually delivering great numbers for the watch industry in particular.

However, besides the watch, the demand for fine jewellery also remained virtually the same. This is mainly because both watches and jewellery typically retain their value well over the years.

Thus, they continue to be a wise investment for consumers who can afford them.

Well, many essential factors like the rarity, value and durability are keeping the sales of luxury watches buoyant even in this atypical year.

Whether it is in the retail or the pre-owned watch market, online platforms significantly boosted the watch sales during the crisis time.

Conclusion

Unlike any other luxury items, the watch industry has hardly suffered from severe damages due to COVID-19. However, the pandemic has significantly influenced the dynamics of the luxury watch businesses.

While the physical stores were closed, many brands like Vacheron Constantin and Panerai went online immediately to keep the sales up, communicate and forge a closer tie with customers.

Moreover, leading watch retailers and also, second hand watch dealers accelerated their digital investment. They made substantial efforts to upgrade their websites to boost online watch sales and reach more customers.

However, are you looking to sell your watch for the best price? Fill up our online form now to get a free valuation.

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covid-19 update

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