Rolex

Baron - Mr Red
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5 simple rules for vintage Rolex beginners

Buying vintage Rolex is a snake-pit. That is the truth. Such is the demand for authentic vintage Rolex that the criminals have moved in and counterfeits and fakes abound. I think it is true that even when a so-called expert buys a vintage piece, there is still an intake of breath at the moment of purchase. The fakers have become so sophisticated that even the very best of experts can sometimes be fooled. That is why it always pays to have humility when it comes to discussing vintage Rolex watches. Further, since historical records from Rolex are, well, close to non-existent, it is sometimes difficult if not impossible to determine if a particular watch configuration is authentic or not. Too often, however, one sees situations where somebody gets hooked by the idea of starting to collect vintage Rolex only to fall into the snake-pit , finding themselves seriously poorer for the experience.

The lure of vintage Rolex is intoxicating. OK, I appreciate that I am biased, but to my mind there is little more appealing in watch world than a superb vintage Rolex. Take a look….how can these wonders not charm? And that is the problem and the beauty. They do charm. Once one gets a superb vintage Rolex on the wrist, horologically speaking, everything changes! Obsession starts.

This post came about because it seems important to provide some benchmarks for those who are at the very start of the obsession. It is totally distressing to see a novice collector get hooked and then find that the expensive and prestigious vintage Rolex he has collected turns out to be a counterfeit, a Franken-watch or worse.

Nobody can guarantee anything, but it should be possible to provide a set of simple rules that help in the purchase of a vintage Rolex. I am not saying that this is set in stone or that there are not alternative ways of approaching this. What I am saying is that this is how I would approach the situation if I was starting from scratch…today. 5 simple rules.

1.     The very first thing you need to do is decide what watch fires your passion. There is really only one way to do this and that is by trying it on. Whether it is at a dealer showroom or from a friend who has one or even at a GTG. Try the watch on and get some idea of whether the budget works. Trying it on will allow you to ask questions from the owner. How long have they owned the watch? What do they like about the watch? Simple questions, but discovering a watch’s history is not unimportant. A recent story I heard was that a watch was bought from a friend who had bought it at an auction 8 years ago. The original seller was someone with a less-than-healthy reputation – indeed one known for putting together vintage Rolex watches from parts. So, just with this information, one has a warning flag.

2.     The next thing that needs to be checked is the seller. A golden rule. "Buy the seller". I think 90% of my watches come from just 4 people. The seller needs not only to be honest and reliable, they also need to be someone you can deal with. If a problem arises, what you don’t want to hear from the seller is….”Sorry….your problem mate”. The seller should be someone you expect to assume some responsibility if something goes wrong. A few years ago, I bought a vintage JLC from a very high profile New York dealer. On taking the watch, I noticed that it was losing a lot of time. The dealer said he was not prepared to give me a discount to have the watch serviced, instead I was to ship the watch back to him where he would sort the problem. Shipping and insurance, of course, are expensive and the dealer was not prepared to pay for it – so my cost. This was not a very good solution, nor the type of service I would have expected. Now lets compare that with another dealer. I had a small chip in the pearl of a watch I had bought 6 months previously. This was my fault entirely. I asked the seller if he could sort the problem. I was expecting to pay for it all. Instead, he had a courier pick up the watch, he replaced the pearl and then had a courier deliver it back to me. No cost. One of these dealers got a lot of business. One received just the single deal. Know your seller.

3.     Do some simple research yourself. There are many great books around that give lots of information about vintage Rolex. If you are going to spend thousands on a vintage watch, then spending a few bucks on a book that gives details about the watch is a lot less expensive than buying a watch that proves to be fake.

4.     Another option is to get detailed scans of a watch and send these scans to 2 or 3 of your trusted watch friends who you believe to have some experience with vintage pieces. Now, if someone sent me some scans of Datejusts, I would not really know what to say about them as I am not really a fan and have never really studied them. But if someone sent me some scans on a 1665 Sea-Dweller, then I would like to think I would have an informed idea. Nobody is an expert across all of Rolex, but certainly on this forum friendships are struck and areas of expertise are understood. If I was looking for a 6542, I know exactly where I would go to ask opinion. I think asking 2-3 people some advice would help restrict so many “mistakes”. Clearly, this is the sort of thing that you ask people who you know and trust, and it provides a good filter. I still do this with most vintage watches that I buy. It never harms to get a second opinion.

5.     Look for an example of the watch that interests you on the forum. Look at the scan of the watch and see if you can identify differences between scans. Does a dial have a fault? Is it scratched or pitted or chipped. Is the case over-polished and thin? Does the lume on the hands look completely different to the lume on the dial? Is there a divergence between the quality of the dial and the quality of the case? It is always odd to me to see a case in a terrible condition with a dial that is almost mint. If a watch has been through a tough life, it is most unlikely that the dial will be mint. Is the serial number consistent with the dial configuration? Lots of "checklist" questions that anyone wanting to learn about vintage Rolex should go through.

6. B ecause of the complexity of vintage Rolex , it is always healthy to consider oneself a beginner. Regardless of experience, going through the checklist is always important.

7.  If something is priced at a level that is too good to be true, then the chances are that something may be wrong. At least, this should act as a warning bell (Marcello).

This is not meant to be a sure-fire code to avoid all vintage pitfalls. However, by sticking to some of these principles, one can avoid some serious problems. It is truly distressing to watch someone new to vintage Rolex lose a large amount of money through a fake watch. Of all these rules, "buy the seller" is one of the very best. However, just some simple processes can lead to long-term happiness with a vintage Rolex. Some short-term impatience and a lack of homework can lead to long-term financial pain.

For the vintage beginners, I hope this is useful. I have fallen in many of the pits that it is possible to fall in, and have consistently experienced others falling into similar pits. Follow these rules and the pitfalls diminish.

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