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Rolex watches have a reputation for longevity, both in terms of their mechanical reliability, and for their uncanny ability to hold value. On average, this has been true for generations, and remains particularly prescient today in a world of hype driven scarcity. Whether justified or not, there’s no denying the strength of the foundation underpinning this status. In many ways, that reputation for longevity, particularly when it comes to build quality and mechanical fidelity, has been well earned through years of hard use and methodical evolution, much of which is never even publicized.
Below you'll see a graphic showing which Rolex models (current production and discontinued) are the cheapest if you're trying to get into the brand without breaking the bank.
It’s clear that a Rolex is a great store of value as a result of this, and while it’s easy to look to their more expensive references and auction results for examples of this, there exist plenty of opportunities for ownership in the more accessible reaches of the brand’s catalog both present and past. That’s all relative, of course, but when it comes to Rolex, there are some good buys to be had. And no, this doesn't limit you to every variation of the Datejust released in the late ‘80s.
As a matter of fact, there is a surprisingly diverse range of Rolex references that can be had for under the $10,000 mark, and in some cases, well under. That includes some of the classic sport watches that helped to put the brand on the map. These may not be the flashiest options from the Crown, but they reveal the soul of what's made the brand so compelling to the travelers, the adventurers, the curious, and the astute. In other words, they represent the character of the brand.
Before we get into the watches, it might be helpful to pause and take a look at how we got here. A Rolex watch has been a premium product for generations, however, like many things in life, the pricing scale we’ve experienced in recent years is most certainly non-linear in nature. The modern era of Rolex sport watches began in the mid 1950s, and found solid footing heading into the 1960s, with the Submariner, Daytona, GMT-Master, and Explorer each finding themselves in a mature state by this point. Retail pricing in 1972 reveals a starkly different picture than we’re faced with today:
By the mid 1980s, Rolex was going through a transition period, moving to a new generation of five-digit references featuring new dials, flat sapphire crystals, and by the end of the generation, chronometer spec movements, Luminova (and Super Luminova) luminescence, and solid end-link bracelets. This was an important generation for Rolex, and many enthusiasts find this to be something of a sweet spot that represents the last era of the true tool watch from the brand (more on that later). This era also represents an important shift in pricing from beginning to end. Like a lot of brands heading into the 21st century, a move upmarket was in the cards.
Let’s outline the shift in retail pricing of a Submariner Date (ref. 16610) and Explorer II (ref. 16570) from 1991, near the beginning of the production run, to 2008, nearing the end for both references:
It’s important to note that these watches saw some serious upgrades over this span, becoming more premium in their fit and finish, as well as more mechanically robust, with the 16570 even using a new generation of movement between these dates. With that in mind, it’s clear that by the closing phases of the five-digit reference era, a Rolex watch was a far more premium proposition, and that the coming generation would take a hard turn into more luxurious territory.
While there is a clear trend here, and not one that is unique to Rolex, this doesn’t take into account the evolution of the secondary market, which certainly is unique to Rolex. If you’ve wandered into your local authorized Rolex dealer in recent years, you may have noticed that lack of readily available product. The scarcity of their most popular references has led to a predictable, and potentially unsustainable, state of affairs in non-authorized channels. Further, the recent addition of a formal CPO (Certified Pre-Owned) program from the brand in authorized channels has only exacerbated the effect. All this to say, popular Rolex references have become prohibitively expensive, and/or exceptionally difficult to obtain.
Pictured: The modern Rolex Daytona ref. 126500LN
Looking back, even a decade or so, reveals a different story. In 2013, a GMT-Master ref. 1675 could be found for around $4,000, and a Submariner ref. 14060 for around $2,500. The situation began to change with the release of the Daytona ref. 116500 in 2016, which brought a black ceramic bezel to the famous chronograph, tapping into a look we hadn’t seen on the watch since the ‘80s. This watch (and its successor, the 126500), coupled with the burgeoning hype culture around collectibles, and supercharged COVID era of market growth, has become a symbol of unattainable luxury goods. Which is a shame, because underneath all that baggage, it’s a pretty great watch when judged at its retail price.
As the market trends toward a correction at the present, it’s worth taking the time to understand what’s still there to be had for what could be considered reasonable sums of money. If you know where to look, and what you’re looking for, you might be surprised at what you find. Much of this also depends on what you want from a Rolex. A legendary every day sport watch that you can pass down for generations? Or perhaps something with a little more personality that works with the formal end of your closet? Whatever you’re looking for, there’s something to be found, both new and old, that won’t break the bank (too badly). Here are some favorites.
Image by Eric Wind
The Air-King is a charming entry level collection that dates back to the mid 1940s. This is a watch that has taken many forms over the generations (as you can see in the current ref. 126900), but has largely been categorized as a pilot’s watch (as the name suggests). The simple, dateless form is actually quite versatile in nature, and that is on full display with the references 5500 and 14000.
The 34mm steel case is svelte and unassuming, with no bezels or complications serving as distractions. Rather, the Air-King takes a more reductive approach to focusing on only the necessary details. Today, these older references are perfect for daily wear, and can even hold their own in formal situations. The best part is that nice examples of these can be had for under $5,000. Don't be scared off by the 34mm sizing either as the Oyster bracelet and Oyster case together make the watch feel more akin to a traditional 36mm watch which is absolutely still a contemporary size.
Rolex Air King Ref. 5500 Price Range: $2,000-$7,000
Rolex Air King Ref. 14000 Price Range: $3,500- $7,500
Image by Christie's
The Rolex Day-Date is a special collection, and quite unique in that it was the first watch to feature a day of the week complication, in which the day was written out – in full – across the top arch of the dial.
First introduced in the mid ‘50s, the Day-Date was quick to fame as it was photographed on world leaders, including US presidents such as Lyndon Johnson and Richard Nixon, earning the nickname of ‘President’. The Day-Date is strictly limited to precious metals, and is the staple of luxury from the Crown, however, there are examples of the reference 1803, which was in production for nearly 20 years, that can be had for under the $10,000 mark. These work wonderfully on a strap, and the design remains as succinct today as it was in the ‘50s.
It is worth noting what you are getting for the money when opting for the Day-Date ref. 1803. While $10,000 is no small sum, it does represent serious value when you consider that you are getting into perhaps the most iconic precious metal watch of all time with the lineage stated above. But Rolex has also come a long way in the years since this watch was introduced roughly 70 years ago. That means that the Day-Date ref. 1803 is what we call a "non quick-set" model meaning that the day and date functions are not able to be set by the crown (a function we have come to be accustomed to today.
Instead, the Day-Date 1803 required a special functionality to change the day and date whereby the hour hand must pass midnight several times in order to make the change. While some consider this a nuisance, others think it offers you more time to engage with your watch. No matter how you slice it, $10,000 for a Rolex President represents value in 2025.
Rolex Day-Date Ref. 1803 Price Range (on strap): $7,700-$18,000
Rolex Day-Date Ref. 1803 Price Range (on bracelet): $14,000-$40,000
The Explorer II may have begun life as a (very) niche tool watch meant for spelunkers, but it has since evolved into one of the all-time great tool/travel watches thanks to the intuitive design, wonderful case proportions, and rugged build quality with no moving bezel parts.
The reference 16570 was prolific, enjoying a 20+ year production run (1989 - 2011) that saw a number of small and large improvements, from the bracelet and end links to the movement itself going from the 3185 to the caliber 3186 (a classic Rolex update that took an already sterling travel GMT to greater chronometric heights).
What's especially great about the 16570 is that it is the successor to the original Explorer II ref. 1655 which has become a collector darling. Some know it as the "Steve McQueen" Rolex. But that watch had a far shorter production run than its successor which has made the 1655 one of the better value pickups in the pre-owned (neo-vintage) Rolex stable – due in part to the niche nature of the watch's use case. The black dial version is more of a spiritual successor to the 1655 while the white dial (nicknamed "Polar") is by far the fan-favorite and prices reflect that.
Given the long production run, many examples made it into the market, and good ones with crisp cases are readily available from the usual suspects. Pricing has remained surprisingly consistent from $6,000 to $9,000 depending on kit and condition. It may be from another era, but it’s a symbol of Rolex as a tool watch manufacture at their very best.
Rolex Explorer II Ref. 16570 Price Range: $6,300-$9,000
Image by Bonhams
The Datejust Turn-O-Graph, specifically the reference 116264 with a ‘Thunderbird’ bezel, is a delightfully funky design that feels slightly uncharacteristic for Rolex. At its core, it’s the six digit Datejust you know and love, but this one takes it a step further with a fluted bezel that gets index markings in a way that almost feels like a mistake. But it allows for timing akin to using a dive-time bezel (a function that is just as good, if not better, than a chronograph).
Additionally, the red seconds hand and printed date disc bring a bit of levity to the design overall. This one won't be for everyone, but there’s no denying the unusual nature that somehow survived into the modern era. The Turn-O-Graph and Thunderbird labels go deep into Rolex lore dating back to the ‘50s, so if anything, it feels like a nod to history in this format. The odd nature of the watch means they can be had in the $6,000 - $7,000 range, and as a bonus, you’re not likely to run into another one at your local meetup.
Rolex Datejust Turn-O-Graph Thunderbird Ref. 116264 Price Range: $6,450-$12,000
Image by Sotheby's
The Oyster Perpetual is perhaps the simplest expression of the Rolex design ethos that’s not encapsulated in a sport watch (More on the Oyster Perpetual later in this article). The reference 1005 was in production for nearly 20 years from the 1960s to the 1980s, and it features a stunning array of variance that means there is no shortage of individual options to get the look you want.
From dial colors and case materials, to the shape of the hour markers, this is a reference that’s nearly done it all. There’s no date here, either, so it’s an overall more clean aesthetic that’s focused on that classic Rolex formal look. It’s worth noting that this reference also uses a 34mm case, so individual tastes will vary. On bracelet it will still wear more like a 36 so it might be a good one to try on first. The best part is that these can be had for well under $4,000, and will look pretty good on any manner of strap you dare affix to it.
Rolex Oyster Perpetual Ref. 1005 Price Range: $3,000-$5,000
Moving into more purpose built territory, the Sea-Dweller is often seen as a more intimidating variation of the Submariner thanks to the beefed up depth rating with a case to match, not to mention the inclusion of a helium escape valve.
The reference 16600 represents an approachable sweet spot, however. It feels slightly more interesting than a Submariner of the same vintage, and if you like the idea of a date but hate the cyclops (the magnification window typically found on a Rolex watch, this one is for you.
This reference is 40mm in diameter, and only slightly thicker than a Sub, but it nestles into the small of your wrist just right. This is a real diamond in the rough kind of Rolex, and carries an incredibly impressive personality in use. It’s the ultimate t-shirt and jeans kind of wear, and nice examples can be found well under $10,000.
Rolex Sea-Dweller Ref. 16600: $7,500-$18,000
The modern Explorer reference 124270 surprised everyone when it was released in 2021 by reverting back to its traditional 36mm steel frame. It has since been joined by a 40mm option, but if you ask me, the 36mm 124270 is a near perfect daily wear option.
This watch is a distillation of a Rolex sport watch, with a pinch of unusual personality weaved in. The Arabic numerals at the hour positions are unique to this reference, and bring a bigger visual personality than you’d expect from the otherwise diminutive frame. This style of marker originated when the watch was revamped in 1989 as the ref. 14270 – taking the mantle from the previous generation (and collector classic) ref. 1016 Explorer. The applied markers and gloss black dial bring a more fanciful look and feel to the watch associated with alpine exploration.
The Explorer 14270 was discontinued in 2001 making way for the ref. 114270. Both of these neo-vintage 36mm Explorers exist on the market today from about $5,000 - $7,000.
In 2010, Rolex discontinued the 36mm Explorer in favor of a 39mm Explorer – the ref. 214270. This existed in two version from 2010 until 2021 when the 124270 featured here was released. You can still find those 39mm variants on the market from about $7,000 - $10,000.
The modern 124270 is seriously a great candidate for a single watch collection, and it kind of works with everything. Best of all, the retail price of this watch remains relatively reasonable at $7,500, and might just be gettable.
Rolex Explorer Ref. 124270 Retail Price: $7,500
Rolex Explorer Ref. 14270 Price Range: $5,000-$7,000
Rolex Explorer Ref. 114270 Price Range: $5,00-$7,000
Rolex Explorer Ref. 214270 Price Range: $7,000-$10,000
The modern Oyster Perpetual has become one of the most expressive palette’s within the Rolex stable. From bright, colorful dials, and a variety of sizes on offer, there’s a lot to love about the OP in its current state.
With these dials, the larger reference 134300 offers a nice platform for maximum impact. The new pistachio dial is exceptional in person, but the standard blue, green, and black options work just as well. Whatever your choice, the MSRP of this reference is $6,650. Of course, the smaller 36 and 34mm options are also excellent choices depending on size preference (and wrist size), plus you'll save a few hundred dollars.
Rolex Oyster Perpetual 34mm Ref. 124200 Retail Price: $6,050
Rolex Oyster Perpetual 36mm Ref. 126000 Retail Price: $6,350
Rolex Oyster Perpetual 41mm Ref. 134300 Retail Price: $6,650
The Air King is one of those watches that you kind of forget is still in production. This is a historic name from Rolex, but in modern form, it’s taken on a very different personality. Once associated with (and a design inspired by) the Bloodhound Land Speed Record car, the watch has since taken on a life of its own.
The design is unlike anything else from Rolex, with a fully indexed dial broken into five minute segments. The dial boasts splashes of green and yellow, and there’s something distinctly throwback about it that won’t be for everyone, but hey, it's anything but boring.
This reference received an updated case in 2022, which is excellent, and it remains the only reference to use it. The new reference also came with fully lumed 3,6, and 9 numerals. (perhaps we’ll see it when the Milgauss makes a return?). This one will stand out in a crowd, and the MSRP of $7,750 feels surprisingly approachable.
Rolex Air King Ref. 126900 Retail Price: $7,750
Rolex Air King Ref. 116900 Price Range: $6,600-$9,000
The Datejust is a classic for a reason, and it’s only really gotten better with age. The modern Datejust reference 126234 in 36mm can be had in steel or white Rolesor and still come in under the $10,000 mark. The beauty of the watch is that you can make of it what you want. There are multiple bracelet options, bezel options, and more dials than you can shake a stick at. Some of these will affect the price, but the standard options still leave you with plenty of choices. These are also surprisingly versatile, working with pretty much every end of the wardrobe. If history is anything to go by when it comes to the Datejust, it’ll also stand the test of time. Of course, the lower end of the price ($7,750) gets you the smooth bezel option on the Oyster bracelet whereas the fluted bezel and Jubilee bracelet option moves the price needle up a bit ($9,950). And if you're into the Datejust but want something more approachable, there are some solid deals to be had with the older Ref. 116200 and Ref. 1601 models.
Rolex Datejust 36 Retail Price Range: $7,750- $9,950
Rolex Datejust Ref. 116200 Price Range: $5,500-$9,500
Rolex Datejust Ref. 1601 Price Range: $3,500-$5,500
At the end of the day, the Submariner is a stone cold classic for a reason. It’s largely responsible for defining the genre of the modern dive watch as we know it today, and like the 911, it’s taken a slow, methodical approach to its evolution over the generations. The 124060 is the Sub at its most primal, base form with a steel case and without a date, just like it entered this world back in the ‘50s. The modern Submariner may be a bit larger, and a bit shinier than its predecessors, but it’s more capable than ever, and at the end of the day, still has the soul of a true tool. It also remains under $10,000, at $9,500. This one will be trickier to land at an AD, but it’ll be worth the wait. And if you're looking for something a bit more "toolish" than the glossy look from the ceramic bezel, the older Ref. 16610 is a great option with that classic aluminum bezel.
Rolex Submariner Ref. 124060 Retail Price: $9,500
Rolex Submariner Ref. 16610 Price Range: $7,700-$9,000
Rolex pricing over the generations has been on a clear trend toward a premium, luxury product, and that’s exactly what they are (even looking at that $165 price for an Explorer back in the day in the ad above). None of these watches are inexpensive. Thankfully, there are plenty of brands new and old that have that part of the market well and truly covered. That said, there is a diverse selection of compelling references outside of the flashy stuff you’re confronted with when scrolling social media. Additionally, Rolex as a brand has undoubtedly moved into new territory as a manufacture from every previous generation. What you may have fallen in love with in the ‘80s or ‘90s is not a reflection of what the brand is today.
That’s what innovation looks like. Whatever your thoughts on the modern Rolex aesthetic may be, there’s no denying the amount of progress the brand has made in nearly every component of their process. Just this year we saw Rolex reveal the Dynapulse escapement, a novel solution to regulation the likes of which are rarely seen at this scale. This is a big ticket item, and believe me, there are many, many more at work behind the scenes that Rolex have been iterating on for generations. Point being, Rolex isn’t in the game of standing still, and if you like what they were at any specific point in time, you have the option of going to the secondary market to find what you’re looking for. And if you want that true tool watch spirit in modern form, Tudor seems to have picked up that spirit without skipping a beat.
Pricing trends may be moving in one direction, but there are always interesting options that represent a point in time, and serve as a celebration of Rolex history. Finding the era or reference that speaks to you doesn’t always have to come with sticker shock, sometimes you just have to dig a little deeper. You might be surprised at what you find.
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4 Comments
I wonder how much extra the bracelet was from the ad? I bought my first Rolex between 1980 and 82. I think it was $1600-$1800 for a SS DJ.
I bought an Explorer 1016 in 1973 for $275.00 with bracelet, in 1978, I purchased a Jubilee bracelet for it, as the original bracelet had worn out..it cost a whopping $35.00….the price 25 years ago was $250.00 or more…
Great content! Now Teddy you just need to become an authorized Rolex dealers so I can buy my Air King!
Excellent piece of history and referral.
Thanks
Jorge