11 ms·

I treasure my Submariner. It's the one article of fashion I have that goes perfectly with every outfit; it looks great with a tuxedo and it looks just as good

I treasure my Submariner. It's the one article of fashion I have that goes perfectly with every outfit; it looks great with a tuxedo and it looks just as good with shorts and a t-shirt. It's incredibly well-made: I wear mine every day and after nine years together, it still looks better than the year-old iPhone in my pocket. It's also understated--at least, my stainless steel, black-bezeled Sub Date is--and it doesn't scream "expensive" or "showy" like many watches on both ends of the price spectrum often do. There are a few advantages to owning a Rolex that may not be so obvious: For starters, it's quickly exchangeable for a high percentage of its value in cash in virtually any major city in the world. Because you're always wearing it, that's $8,000+ in cash that you can have in short order if you needed it badly and circumstances prohibit you from accessing your bank account. Another advantage: they almost always appreciate in value over time. Very few physical assets can claim similar long-term value. People have been coveting these watches for nearly a century and that's unlikely to change. I will surely give mine to one of my sons someday. If you can afford it, I highly recommend you treat yourself to one. I get enjoyment every day when I put mine on. I can barely remember any of the cars and trucks I've owned but I spent less on my Sub and I'll never forget it. Thanks for the article, OP.

qwrusz 10y ago
Hopefully one never needs to exchange their watch for cash in an emergency but I see the advantage, in general do you insure it against theft or loss while traveling overseas with it?
- chrissnell 10y ago
  I've travelled to third-world countries [1] with mine and I didn't insure it. I can't say I'd always do this, however. It depends on where you're going and what you're doing. In general, it's not wise to be flashy in a poor place but the stainless steel Sub isn't as obviously expensive as a gold watch and probably wouldn't catch a thief's eye like an iWatch, even though it is well over 10x as valuable. [1] https://www.flickr.com/photos/defender90/4246326395/in/album-72157623017712261/ https://www.flickr.com/photos/defender90/4246326395/in/album...
  - qwrusz 10y ago
    Nice to see it in use while diving. Cheers. I dive too and I think it gives someone a bigger appreciation of the history of these watches.
- biztos 10y ago
  Interestingly enough there's a scene in a famous German novel, IIRC Homo Faber[0] by Max Frisch, in which the protagonist, in desperate circumstances, trades his watch for a ride. (I think it's for a ride -- it's been probably 15 years since I last read it.) At the time it struck me as really odd, but now that I know some people who own expensive watches I sort-of get it. [0]: https://en.wikipedia.org/wiki/Homo_Faber_(novel) https://en.wikipedia.org/wiki/Homo_Faber_(novel)
  - coldtea 10y ago
    You don't need to go as back or as obscure as Homo Faber. Selling your watch for quick money (usually in a foreign country or after being robbed, crashed etc) is a common film staple in tons of adventure/noir etc movies.
    - zazpowered 10y ago
      The scene of putting your watch on the table during a poker game is pretty common too
Luc 10y ago
This is how humans infect each other with emotions, I guess. Virality in action. Tell a story of how this object lifts your spirits every day, never lets you down, is there for you in hard times... And it's reassuringly expensive. Value doesn't come cheap. I own a bit of LVMH (luxury conglomerate) shares and I find it fascinating what they manage to sell to people, but I'm determined never to fall for it.
- qwrusz 10y ago
  Speaking of fascinating what LVMH can sell people...their stock and the other luxury companies in that corner of the equity market have been crazy interesting over the last year. No position myself. Congrats.
  - Inconel 10y ago
    I've read that there was a big dip in Swiss watch exports when China started ramping up it's anti-corruption campaign. I have a Kazakh-American friend who did some contract work as a pipeline welder in Kazakhstan who told me all of the watch shop windows in Astana would empty out every time large oil/gas deals were being signed. This segment of the luxury goods market is indeed very interesting.
    - tiatia 10y ago
      This is all too common. I once hat an interview at the Wessling group. They asked my if I mind bribing Chinese with expensive watched....
- Inconel 10y ago
  While I agree in general, I think that there are some people who just genuinely enjoy mechanical watches beyond the status signaling. I myself don't own a Rolex or other high end watch, I can't afford one, I work in machining and welding so I couldn't wear one to work anyway, and I'm pretty sure my OCD would preclude me from enjoying wearing a wristwatch since I would always be worried about scratches. I just happen to like small mechanical things. Also, repairing and restoring watches is a nice hobby to have if you're really short on space, I live in a tiny apartment. I do think there is something very cool about the engineering that goes into watches, and they are somewhat unique in the way they combine both engineering and more traditional artistry like hand finishing or enamel/lacquered dial work. I should probably point out in case there is some confusion that I most certainly don't work for Rolex or the Swiss watch industry even though I sound somewhat like a shill in these comments.
crdb 10y ago
> it looks great with a tuxedo Debatable, as it is a sports watch (arguably "the" sports watch). Wearing a sports watch with black tie suggests a middle class New Worlder. I happen to like these values (meritocracy, individual rights, equality of all before the law) much more than the alternative so see it as a positive signal. Also, (see [1]) signals ought to be true or the effect will be very negative, since nobody likes a fake, so better the sub with the "tuxedo" if that's "who you are". The core value of a Rolex over other brands is two fold. First, the company is ensuring that the value of the watches will never drop through limiting grey market availability and limiting supply generally even in the face of increasing global demand (people now complain about months-long waiting lists for special editions). As you point out this does make it a sort of global gold standard in terms of maintaining value and fungibility. Second, it shrewdly invests in multi-generational, tightly integrated marketing to maintain the image of the brand in the global lower and middle classes' mind as "the" luxury watch, as well as in the target market (the GP piece is an example). AFAIK it is the only brand that does it so thoroughly; Patek has similar operations (including bidding on its own vintage stuff, which even involved setting up a museum, to drive prices higher) but targeted at the aspirational upper middle class only [2], and the other brands are considerably less well recognised or not perceived as expensive. This investment in marketing builds "signal equity" for Rolex wearers in that everybody will see it, not just the readers of Hodinkee. Which is why I disagree with you that: > it doesn't scream "expensive" To close on a humorous note: http://www.gq.com/story/male-engagement-ring-rolex http://www.gq.com/story/male-engagement-ring-rolex (I would, personally, blow my $50k on the new Laurent Ferrier Montre Ecole. /signalling) [1] https://www.quora.com/Why-would-anyone-buy-a-Rolex-watch/answer/Suzanne-Sadedin https://www.quora.com/Why-would-anyone-buy-a-Rolex-watch/ans... [2] http://thelastpsychiatrist.com/2011/11/luxury_branding_the_future_lea.html http://thelastpsychiatrist.com/2011/11/luxury_branding_the_f...
- qwrusz 10y ago
  Can't tell if this post is for real, but either way I respectfully disagree. Ever worn a Rolex? 99% of people won't recognize it. From those ppl that do recognize it and know the price, some will think its expensive and some will think its quite inexpensive. Rolex sells almost a million watches a year now. It's a brand bought by rich, knowledgeable watch nerds as well as plebeian, flashy status-seekers and everyone in between. Rolex are given as gifts often enough whether from family or from your old fat boss for you being the best salesman in the district. And by now in 2017, many ppl are wearing Rolex watches they inherited as the company has been big for well over a generation of customers. In short, a Rolex doesn't signal anything discernible that can be generalized. Ya there are a small % of people who will see it and recognize it and think its expensive, but it is not screaming expensive, it's not screaming anything. Reasons for buying or having or wearing a Rolex may vary but its just a watch now. Also, a sports watch or any watch with a tuxedo? You're at a party, and hopefully drunk, I would say leave any watch at home. But that's debatable too, so do whatever the fuck you want, assumptions will be made incorrectly regardless. Cheers :)
elorant 10y ago
The drawback is that you make it crystal clear to everyone that you have money. That's the one thing that always troubles me with luxury items. How do people who own Porsche's or Ferrari's cope with unwanted attention, assuming that they don't want it. It's one thing wearing a $3k Burberry coat which few could really tell its value and quite a different one wearing an $8k Rolex watch which everyone and their dogs could tell it's a luxury item. Other than that, I agree with your sentiment. I own a couple of Longines and they're masterpieces of engineering. But they're a bit more discreet than Rolexes :)
- coldtea 10y ago
  >The drawback is that you make it crystal clear to everyone that you have money. That's the one thing that always troubles me with luxury items. How do people who own Porsche's or Ferrari's cope with unwanted attention, assuming that they don't want it. Well, who said it's unwanted? Besides, they often have bodyguards, and of course they don't regularly mingle with commoners. Difficult to get robbed in some Swiss chalet or some expensive neighborhood. And there everybody has money anyway, so they don't stand out much.
  - pc86 10y ago
    I think you are grossly overestimating the net worth of your average Rolex Submariner purchaser.
- Inconel 10y ago
  Not to be facetious, but fake Rolexes are so widespread now that I actually wonder what the chances are that a random robbery will yield a real versus fake Rolex.
  - deleted 10y ago
    [deleted]
  - tonyedgecombe 10y ago
    Even real ones are common, they make over a million a year.
rahilb 10y ago
>Another advantage: they almost always appreciate in value over time On balance this is not true for any non limited brand new watch you buy. On balance models that appreciate tend to be discontinued, or a combination of rare reference/variation/materials. I agree though, If I had a lot of cash laying about, i'd buy lots and lots of good examples of vintage watches from marquee brands.
Ntrails 10y ago
I think in 2016 there were a handful of occasions when I thought "shit what's the time" and didn't have my phone out or wasn't sat in front of the computer etc. It's not about "an expensive watch is a good watch" but "do I actually want to wear a sodding watch?"
- bartread 10y ago
  Funny thing: part of the reason I started wearing a watch again (and I'll blame this for getting into the collecting hobby too) was to stop myself getting out my phone so much because so often a quick time check would turn into 5 minutes of faffing around with the thing.
  - djmobley 10y ago
    I bought a mechanical watch just as the "smart" watch fad was taking off, for precisely this reason.
- pc86 10y ago
  You buy a $10 to tell the time. You do not buy an $8,000 Rolex to tell the time. Depending on the purchaser it's a combination of fashion, signalling, and appreciation for the mechanics.
  - djmobley 10y ago
    Expensive watches can also be investments, many of which appreciate in value. Same applies to rare luxury cars, real estate, etc.
tiatia 10y ago
I treasure my Submariner. It's the one article of fashion I have that goes perfectly with every outfit; it looks great with a tuxedo and it looks just as good with shorts and a t-shirt. It's incredibly well-made: I wear mine every day and after nine years together, it still looks better than the year-old iPhone in my pocket. It's also understated--at least, my stainless steel, black-bezeled Sub Date is--and it doesn't scream "expensive" or "showy" like many watches on both ends of the price spectrum often do. "There are a few advantages to owning a Rolex that may not be so obvious: For starters, it's quickly exchangeable for a high percentage of its value in cash in virtually any major city in the world." Please define "high". I have seen a Rolex sold for less than its value in gold (gold rolex). They have sales tax (20% in Europe). The shop has likely something like a 100% mark up on a watch. Most of the costs of the Rolex are for advertisement. You can get a same quality watch for a tiny fraction of the price. "Because you're always wearing it, that's $8,000+ in cash that you can have in short order if you needed it badly" If it is not made out of gold, I suspect you would get 1 or 2 grand for it. On a good day.
- theluketaylor 10y ago
  8 grand is a stretch for a steel sub, but an 16610 (roughly 10 years old) would easily fetch close to 5 in a pinch. A pretty new 116610 lightly used you could turn into $7000 cash without too much trouble. Precious metal rolexes don't hold their value nearly the same way as steel ones, since part of owning a gold rolex is the accomplishment of being able to buy it in the first place. They also come with a dizzying array of options, so if you want the right one you have to buy new. Sports rolexes have few options so they are interchangeable. Rolex has pulled off a neat trick of making them thought to be rare while selling nearly a million a year.
JohnJamesRambo 10y ago
Knowing the time is such a simple commodity these days, I just can't see spending 8k on that.
- h1d 10y ago
  Because a watch isn't about time.
  - sho_hn 10y ago
    Yeah, it's about identity. Some people really want to be the sort of person who gets that "a watch isn't about time". Some people really want to be the sort of person who reduces it to that. I find the latter nicer to be around overall.
criddell 10y ago
I'd love to get a Submariner no date, but I have small wrists and the 40mm Rolex case looks goofy on me.
- theluketaylor 10y ago
  Tudor made a smaller version of their submariner that looks great on smaller wrists. I don't think they ever made a no date mini sub, but it's worth checking out. You should also look into the tudor black bay 36. 36 mm case, only downside is it doesn't have a dive bezel Tudor is a Rolex sub brand that uses Rolex cases but swaps in more generic swiss movements. Less expensive servicing, especially since you don't need to send it to rolex, but all the Rolex quality on the outside.
pravda 10y ago
Speaking of Submariners, this reads like a submarine article. http://paulgraham.com/submarine.html http://paulgraham.com/submarine.html
- grkvlt 10y ago
  Well, Rolex PR department didn't invite the blog to tour their factories just because they were feeling generous that week. However it's difficult to write about things that people want to buy without advertising them, in some sense of the word; and even more difficult if the things are just made by one company, as is often the case with collectibles. Similarly, an article on Jaguar cars would be no less interesting if Jaguar provided the author a tour of their assembly line, but if skillfully written, can still be journalism rather than pure advertising.
lazyant 10y ago
Also mentionable is that you need to service them if you want them to last / keep their value, I think it's about $500 every 5 years or so.
BadassFractal 10y ago
I don't know if I'd necessarily wear it with shorts and t-shirt. It can be interpreted as the "this guy only has one watch" fashion faux pas.
- Mikeb85 10y ago
  Technically a submariner is a sports watch, so if anything, it's more appropriate to wear with shorts and a t-shirt.
  - BadassFractal 10y ago
    Good point!
spaceflunky 10y ago
A friend of mine bought a Rolex Air King about 25 years while he was in college. Paid $1200 (and financed it for $100 a month for a year). He wears it every day it, to every occasion, and it looks phenomenal. Recently, had it appraised in the $5000 range. He's beat the S&P many times over, not to mention the value he's received of having a nice watch every day. Yea I get, it's not for everyone. But they're not the worst investments and they're truly beautiful machines. In the words of Ferris Bueller, 'if you have the means, I highly recommend picking one up.' And for the super skeptical, here's a video of a man who bought a Rolex GMT Master in the 60s for $120 and had it appraised in the $80k range (despite decades of heavy use). https://www.youtube.com/watch?v=li0mRLcGbU8&feature=youtu.be https://www.youtube.com/watch?v=li0mRLcGbU8&feature=youtu.be
- danielpal 10y ago
  I wanted to take a quick second to dispel this myth. Although I collect watches and I have several high end pieces, including grand complications - none of them are good "investments". You will likely loose money on 99% of watches you can buy and it certainly applies 100% to all new Rolex watches. There is just a small amount of watches that actually appreciate like Patek application pieces or the Vintage Rolex Daytona ('Paul Newman) or 1980's Milgause. The chance you buy one of this is 0% unless you know what you are doing. So your friend has a 25 year old Air King? This is not a vintage piece, it's just an old piece. Worth? $1500 - $2000 depending on condition. Secondly, in 25 years he had to service it at least 3 times. Each service cost? $400 - $800 depending on the issues. If he polished it, $500 more. So all in he's put in $1,200 + ~$1,500 = $2,700. Now had he place $1,200 in the S&P 500 on 1991 (exactly 25 years ago), he would have at the end of December 31 exactly $13,588 dollars (~9.78% on average per year). I don't understand how you can say he beat the S&P many times over.
  - anjc 10y ago
    He meant Seikos&Pulsars
rahelzer 10y ago
If feel you man, but a submariner really doesn't go with a tux.

qwrusz 10y ago

Hopefully one never needs to exchange their watch for cash in an emergency but I see the advantage, in general do you insure it against theft or loss while traveling overseas with it?

chrissnell 10y ago
I've travelled to third-world countries [1] with mine and I didn't insure it. I can't say I'd always do this, however. It depends on where you're going and what you're doing. In general, it's not wise to be flashy in a poor place but the stainless steel Sub isn't as obviously expensive as a gold watch and probably wouldn't catch a thief's eye like an iWatch, even though it is well over 10x as valuable. [1] https://www.flickr.com/photos/defender90/4246326395/in/album-72157623017712261/ https://www.flickr.com/photos/defender90/4246326395/in/album...
- qwrusz 10y ago
  Nice to see it in use while diving. Cheers. I dive too and I think it gives someone a bigger appreciation of the history of these watches.
biztos 10y ago
Interestingly enough there's a scene in a famous German novel, IIRC Homo Faber[0] by Max Frisch, in which the protagonist, in desperate circumstances, trades his watch for a ride. (I think it's for a ride -- it's been probably 15 years since I last read it.) At the time it struck me as really odd, but now that I know some people who own expensive watches I sort-of get it. [0]: https://en.wikipedia.org/wiki/Homo_Faber_(novel) https://en.wikipedia.org/wiki/Homo_Faber_(novel)
- coldtea 10y ago
  You don't need to go as back or as obscure as Homo Faber. Selling your watch for quick money (usually in a foreign country or after being robbed, crashed etc) is a common film staple in tons of adventure/noir etc movies.
  - zazpowered 10y ago
    The scene of putting your watch on the table during a poker game is pretty common too

Luc 10y ago

This is how humans infect each other with emotions, I guess. Virality in action. Tell a story of how this object lifts your spirits every day, never lets you down, is there for you in hard times... And it's reassuringly expensive. Value doesn't come cheap. I own a bit of LVMH (luxury conglomerate) shares and I find it fascinating what they manage to sell to people, but I'm determined never to fall for it.

qwrusz 10y ago
Speaking of fascinating what LVMH can sell people...their stock and the other luxury companies in that corner of the equity market have been crazy interesting over the last year. No position myself. Congrats.
- Inconel 10y ago
  I've read that there was a big dip in Swiss watch exports when China started ramping up it's anti-corruption campaign. I have a Kazakh-American friend who did some contract work as a pipeline welder in Kazakhstan who told me all of the watch shop windows in Astana would empty out every time large oil/gas deals were being signed. This segment of the luxury goods market is indeed very interesting.
  - tiatia 10y ago
    This is all too common. I once hat an interview at the Wessling group. They asked my if I mind bribing Chinese with expensive watched....
Inconel 10y ago
While I agree in general, I think that there are some people who just genuinely enjoy mechanical watches beyond the status signaling. I myself don't own a Rolex or other high end watch, I can't afford one, I work in machining and welding so I couldn't wear one to work anyway, and I'm pretty sure my OCD would preclude me from enjoying wearing a wristwatch since I would always be worried about scratches. I just happen to like small mechanical things. Also, repairing and restoring watches is a nice hobby to have if you're really short on space, I live in a tiny apartment. I do think there is something very cool about the engineering that goes into watches, and they are somewhat unique in the way they combine both engineering and more traditional artistry like hand finishing or enamel/lacquered dial work. I should probably point out in case there is some confusion that I most certainly don't work for Rolex or the Swiss watch industry even though I sound somewhat like a shill in these comments.

crdb 10y ago

> it looks great with a tuxedo Debatable, as it is a sports watch (arguably "the" sports watch). Wearing a sports watch with black tie suggests a middle class New Worlder. I happen to like these values (meritocracy, individual rights, equality of all before the law) much more than the alternative so see it as a positive signal. Also, (see [1]) signals ought to be true or the effect will be very negative, since nobody likes a fake, so better the sub with the "tuxedo" if that's "who you are". The core value of a Rolex over other brands is two fold. First, the company is ensuring that the value of the watches will never drop through limiting grey market availability and limiting supply generally even in the face of increasing global demand (people now complain about months-long waiting lists for special editions). As you point out this does make it a sort of global gold standard in terms of maintaining value and fungibility. Second, it shrewdly invests in multi-generational, tightly integrated marketing to maintain the image of the brand in the global lower and middle classes' mind as "the" luxury watch, as well as in the target market (the GP piece is an example). AFAIK it is the only brand that does it so thoroughly; Patek has similar operations (including bidding on its own vintage stuff, which even involved setting up a museum, to drive prices higher) but targeted at the aspirational upper middle class only [2], and the other brands are considerably less well recognised or not perceived as expensive. This investment in marketing builds "signal equity" for Rolex wearers in that everybody will see it, not just the readers of Hodinkee. Which is why I disagree with you that: > it doesn't scream "expensive" To close on a humorous note: http://www.gq.com/story/male-engagement-ring-rolex http://www.gq.com/story/male-engagement-ring-rolex (I would, personally, blow my $50k on the new Laurent Ferrier Montre Ecole. /signalling) [1] https://www.quora.com/Why-would-anyone-buy-a-Rolex-watch/answer/Suzanne-Sadedin https://www.quora.com/Why-would-anyone-buy-a-Rolex-watch/ans... [2] http://thelastpsychiatrist.com/2011/11/luxury_branding_the_future_lea.html http://thelastpsychiatrist.com/2011/11/luxury_branding_the_f...

qwrusz 10y ago
Can't tell if this post is for real, but either way I respectfully disagree. Ever worn a Rolex? 99% of people won't recognize it. From those ppl that do recognize it and know the price, some will think its expensive and some will think its quite inexpensive. Rolex sells almost a million watches a year now. It's a brand bought by rich, knowledgeable watch nerds as well as plebeian, flashy status-seekers and everyone in between. Rolex are given as gifts often enough whether from family or from your old fat boss for you being the best salesman in the district. And by now in 2017, many ppl are wearing Rolex watches they inherited as the company has been big for well over a generation of customers. In short, a Rolex doesn't signal anything discernible that can be generalized. Ya there are a small % of people who will see it and recognize it and think its expensive, but it is not screaming expensive, it's not screaming anything. Reasons for buying or having or wearing a Rolex may vary but its just a watch now. Also, a sports watch or any watch with a tuxedo? You're at a party, and hopefully drunk, I would say leave any watch at home. But that's debatable too, so do whatever the fuck you want, assumptions will be made incorrectly regardless. Cheers :)

elorant 10y ago

The drawback is that you make it crystal clear to everyone that you have money. That's the one thing that always troubles me with luxury items. How do people who own Porsche's or Ferrari's cope with unwanted attention, assuming that they don't want it. It's one thing wearing a $3k Burberry coat which few could really tell its value and quite a different one wearing an $8k Rolex watch which everyone and their dogs could tell it's a luxury item. Other than that, I agree with your sentiment. I own a couple of Longines and they're masterpieces of engineering. But they're a bit more discreet than Rolexes :)

coldtea 10y ago
>The drawback is that you make it crystal clear to everyone that you have money. That's the one thing that always troubles me with luxury items. How do people who own Porsche's or Ferrari's cope with unwanted attention, assuming that they don't want it. Well, who said it's unwanted? Besides, they often have bodyguards, and of course they don't regularly mingle with commoners. Difficult to get robbed in some Swiss chalet or some expensive neighborhood. And there everybody has money anyway, so they don't stand out much.
- pc86 10y ago
  I think you are grossly overestimating the net worth of your average Rolex Submariner purchaser.
Inconel 10y ago
Not to be facetious, but fake Rolexes are so widespread now that I actually wonder what the chances are that a random robbery will yield a real versus fake Rolex.
- deleted 10y ago
  [deleted]
- tonyedgecombe 10y ago
  Even real ones are common, they make over a million a year.

rahilb 10y ago

>Another advantage: they almost always appreciate in value over time On balance this is not true for any non limited brand new watch you buy. On balance models that appreciate tend to be discontinued, or a combination of rare reference/variation/materials. I agree though, If I had a lot of cash laying about, i'd buy lots and lots of good examples of vintage watches from marquee brands.

Ntrails 10y ago

I think in 2016 there were a handful of occasions when I thought "shit what's the time" and didn't have my phone out or wasn't sat in front of the computer etc. It's not about "an expensive watch is a good watch" but "do I actually want to wear a sodding watch?"

bartread 10y ago
Funny thing: part of the reason I started wearing a watch again (and I'll blame this for getting into the collecting hobby too) was to stop myself getting out my phone so much because so often a quick time check would turn into 5 minutes of faffing around with the thing.
- djmobley 10y ago
  I bought a mechanical watch just as the "smart" watch fad was taking off, for precisely this reason.
pc86 10y ago
You buy a $10 to tell the time. You do not buy an $8,000 Rolex to tell the time. Depending on the purchaser it's a combination of fashion, signalling, and appreciation for the mechanics.
- djmobley 10y ago
  Expensive watches can also be investments, many of which appreciate in value. Same applies to rare luxury cars, real estate, etc.

tiatia 10y ago

I treasure my Submariner. It's the one article of fashion I have that goes perfectly with every outfit; it looks great with a tuxedo and it looks just as good with shorts and a t-shirt. It's incredibly well-made: I wear mine every day and after nine years together, it still looks better than the year-old iPhone in my pocket. It's also understated--at least, my stainless steel, black-bezeled Sub Date is--and it doesn't scream "expensive" or "showy" like many watches on both ends of the price spectrum often do. "There are a few advantages to owning a Rolex that may not be so obvious: For starters, it's quickly exchangeable for a high percentage of its value in cash in virtually any major city in the world." Please define "high". I have seen a Rolex sold for less than its value in gold (gold rolex). They have sales tax (20% in Europe). The shop has likely something like a 100% mark up on a watch. Most of the costs of the Rolex are for advertisement. You can get a same quality watch for a tiny fraction of the price. "Because you're always wearing it, that's $8,000+ in cash that you can have in short order if you needed it badly" If it is not made out of gold, I suspect you would get 1 or 2 grand for it. On a good day.

theluketaylor 10y ago
8 grand is a stretch for a steel sub, but an 16610 (roughly 10 years old) would easily fetch close to 5 in a pinch. A pretty new 116610 lightly used you could turn into $7000 cash without too much trouble. Precious metal rolexes don't hold their value nearly the same way as steel ones, since part of owning a gold rolex is the accomplishment of being able to buy it in the first place. They also come with a dizzying array of options, so if you want the right one you have to buy new. Sports rolexes have few options so they are interchangeable. Rolex has pulled off a neat trick of making them thought to be rare while selling nearly a million a year.

JohnJamesRambo 10y ago

Knowing the time is such a simple commodity these days, I just can't see spending 8k on that.

h1d 10y ago
Because a watch isn't about time.
- sho_hn 10y ago
  Yeah, it's about identity. Some people really want to be the sort of person who gets that "a watch isn't about time". Some people really want to be the sort of person who reduces it to that. I find the latter nicer to be around overall.

criddell 10y ago

I'd love to get a Submariner no date, but I have small wrists and the 40mm Rolex case looks goofy on me.

theluketaylor 10y ago
Tudor made a smaller version of their submariner that looks great on smaller wrists. I don't think they ever made a no date mini sub, but it's worth checking out. You should also look into the tudor black bay 36. 36 mm case, only downside is it doesn't have a dive bezel Tudor is a Rolex sub brand that uses Rolex cases but swaps in more generic swiss movements. Less expensive servicing, especially since you don't need to send it to rolex, but all the Rolex quality on the outside.

pravda 10y ago

Speaking of Submariners, this reads like a submarine article. http://paulgraham.com/submarine.html http://paulgraham.com/submarine.html

grkvlt 10y ago
Well, Rolex PR department didn't invite the blog to tour their factories just because they were feeling generous that week. However it's difficult to write about things that people want to buy without advertising them, in some sense of the word; and even more difficult if the things are just made by one company, as is often the case with collectibles. Similarly, an article on Jaguar cars would be no less interesting if Jaguar provided the author a tour of their assembly line, but if skillfully written, can still be journalism rather than pure advertising.

lazyant 10y ago

Also mentionable is that you need to service them if you want them to last / keep their value, I think it's about $500 every 5 years or so.

BadassFractal 10y ago

I don't know if I'd necessarily wear it with shorts and t-shirt. It can be interpreted as the "this guy only has one watch" fashion faux pas.

Mikeb85 10y ago
Technically a submariner is a sports watch, so if anything, it's more appropriate to wear with shorts and a t-shirt.
- BadassFractal 10y ago
  Good point!

spaceflunky 10y ago

A friend of mine bought a Rolex Air King about 25 years while he was in college. Paid $1200 (and financed it for $100 a month for a year). He wears it every day it, to every occasion, and it looks phenomenal. Recently, had it appraised in the $5000 range. He's beat the S&P many times over, not to mention the value he's received of having a nice watch every day. Yea I get, it's not for everyone. But they're not the worst investments and they're truly beautiful machines. In the words of Ferris Bueller, 'if you have the means, I highly recommend picking one up.' And for the super skeptical, here's a video of a man who bought a Rolex GMT Master in the 60s for $120 and had it appraised in the $80k range (despite decades of heavy use). https://www.youtube.com/watch?v=li0mRLcGbU8&feature=youtu.be https://www.youtube.com/watch?v=li0mRLcGbU8&feature=youtu.be

danielpal 10y ago
I wanted to take a quick second to dispel this myth. Although I collect watches and I have several high end pieces, including grand complications - none of them are good "investments". You will likely loose money on 99% of watches you can buy and it certainly applies 100% to all new Rolex watches. There is just a small amount of watches that actually appreciate like Patek application pieces or the Vintage Rolex Daytona ('Paul Newman) or 1980's Milgause. The chance you buy one of this is 0% unless you know what you are doing. So your friend has a 25 year old Air King? This is not a vintage piece, it's just an old piece. Worth? $1500 - $2000 depending on condition. Secondly, in 25 years he had to service it at least 3 times. Each service cost? $400 - $800 depending on the issues. If he polished it, $500 more. So all in he's put in $1,200 + ~$1,500 = $2,700. Now had he place $1,200 in the S&P 500 on 1991 (exactly 25 years ago), he would have at the end of December 31 exactly $13,588 dollars (~9.78% on average per year). I don't understand how you can say he beat the S&P many times over.
- anjc 10y ago
  He meant Seikos&Pulsars

rahelzer 10y ago

If feel you man, but a submariner really doesn't go with a tux.