Giving a Rolex GMT Master 16700 the Boot(!?)
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- Опубліковано 3 лип 2024
- Danny's article: www.rolexmagazine.com/search/...
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I’ve found that when I’m staring at a good profit and my greed tells me to hold out for more, it’s almost always the right call to take the profit now
Great video and sound advice Austin.
Thanks BB!
As long as Rolex keeps increasing the price of its new stock (and also withholds supply of that stock) then it follows that the price of a used Rolex whether it be 10 year old or 40 year old or even older will chase the price. Some will exceed the new price depending on how rare they are. When the AD won’t sell you a new watch that you have tried on in their shop you start looking at alternatives which includes Vintage and Neo-Vintage and you convince yourself that Vintage with aluminum bezel, thinner case, tritium dial is not that bad and there is value in buying the watches that Rolex built its reputation on. There are stories behind the older watches and reasons why they were made. The older watches are tool watches as distinct from the new references which are more like jewelry and in my opinion a little sterile.
I'm working on a time machine in my shed not only to buy sensibly priced Rolexes but they were actually available in the past as well!
I dunno if you get to all these comments but your channel has been indispensable for my watch hunting trips to Japan. I wanted to pick your brain about an N serial 16700 full set I found for 13k and change I found in Tokyo.
Hi Austin really love your videos thanks
Maaaaan, what a great price he got on that! Hold onto it unless it's an absolute emergency!
Very appropriate advice.
I would keep this wonderful watch by all means - in particular because the purchase price was such a great bargain.
I just bought mine: A U series 16700 with a tritium dial. 1997-98. Didn't want the glow to be too dull or too bright. And it will age on my own terms. It still has the caseback hologram sticker on and the same bracelet as the watch in this video. It's going with me to my grave.
That's beautiful piece and I would hold on to it!!!
I hope this year i can get one of this.
HOLD onto it!
That’s a keeper!
GMT II and Explorer II are the ones to have, IMHO. Sure the older vintage have patina and alleged “character” but as far as pure functionality, you can’t beat Rolex’s improvements.
The added functionality really is nice to have!
Chen China we don’t buy vintage 4 digit Rolex for functionality, that’s what a new Rolex with full warranty is for!
We collect vintage 4 digit Rolex kind of like art, to admire to examine the subtle differences between dials, bezels, cases and bracelets, even crystals!
I feel like the curator of my own museum with my collection of investment grade vintage Rolex, a custodian protecting the historical and monetary value of such beautiful timeless designs which built the company to what it is today, all appreciated and locked away in my safe.
Anything you buy that’s vintage is never bought for functionality just as a vintage car with no aircon and harsh suspension doesn’t make a great daily driver but it gives you a great nostalgic experience.
Just an insight for you to understand how vintage collectors tick.
I have 3 GMT and 3 movements, (same like in the vid, 16700 full set U serial "swiss" 1st purchased 1999, mint), have a Black/black/black 116710 & the new rooter, both new from AD.. But I absolutely love my GMT pepsi. When you have many watches in rotation, a 16700 is great as you have a quick set date, and the GMT hands is linked to hour hand and give you the AM/PM time, and can be adjusted to time zones with the bezel. If you have a GMT II in rotation, you have to set the date first, and that can take some time, as you have to rotate the "hour hand 24h" to the date you want (no quick set date on GMT II ), + you have to set the GMT hand to something that make sense.. Lots of people get lazy and don't even bother to set the GMT hand, I have even met people who don't know how to set the watch... So, at the end the 16700 is a pretty cool movement to have, and it's not worst or better, but different... While I fully agree with Jimmy split 77 comments below for the rest.
I owned one of these for a couple of years and sold it. I find it not as practical in regards to the GMT function Compared the GMT-II. It will continue to go up in value along with the other vintage GMT models, but will always be the cheapest compared to the 16710, 16750, etc.
Four years ago nobody wanted these current hot pieces
Going forward nobody knows where the prices will be
Fads come and go..asking prices are not selling prices.
I didn't want one when they were £4k and I certainly don't want one now they are £8k.
after watching your videos I feel so lucky. I bought my 2001 black stainless steel gmt master 2 used in Japan for $2500 used back in 2003. Watch is in mint condition, hardly worn. came with box and and wallet with all brochures. just no original bill of sale from Rolex but I do have all the paper work from store I bought it from. funny thing they had so many other used watches for sale..I should've bought two. who knew!
How much do you want for it?
@@ramaporiver803 haha
If that were mine, no way in hell I’d sell that or any watch.
Sell it for the over inflated price you can get at the moment. I sold my Submariner recently, have my Yachtmaster sold in principle and if I receive the right offer for my Daytona it's down the road too. Too many other brands out there to play the Rolex game, VIP customers etc made to feel like a 2nd class citizen it AD's etc. Modern Omega are just as good in my opinion you just have to buy with a decent discount. Tudor are massively overrated too, so boring to look at....
Tudor is the worst! Omega all day!
Yup totally agreed. Rolex sucks big time
I agree with you, except the Omega looking better part.
From a design pov their Seamaster with those *TWO* ugly horns sticking out it's just butt ugly vs the Submariner.
Not to mention the bracelet borrowed from 500$ Tissot watches 😂
And the market reflects that....either you like it or not. A 2017-2019 Seamasters can be had for -30% or -40% off retail.
@@SpaghettiKillah I agree the bracelet on the seamaster is very 90's, the oyster bracelet on Rolex's is unrivaled. The latest seamaster with the ceramic wave dial is superior to the Submariner though, I'd rather buy 1 of them at a discount than pay a premium on a Subby. The Aqua Terra beats the Date Just all day long looks wise.
i love my 16700, i wear it almost daily. mine is a full set from 1989, i have the Jubilee and Oyester bracelet with it. dont sell, Hodl-
@6:03 Austin: "the value should go up... barring some global economic crisis" Covid-19: "Hold my beer"
That was a real test of the value of a Rolex. I thought they would've gone down, but they never did.
I'd sell it... just my opinion, prices are dropping, I don't see them going up. All those watches that you see in grey market shops in Japan, all the prices are negotiable, at least 5-10% off what you see.
i love that watch so much.. wish ihave that watch in my wrist
Austin I just ordered a new Watchbox and clicked over to UA-cam and a new Austin Video. Fabulous!! I order a Wolf Heritage Watchbox for my Birthday next month.
Which watch boxes do you use? Do you have a favorite Brand or Type? I was deciding between Wolf and Stackers. Do you use Valet Snap Trays for change, a pen, or to lay your watch down on?
They look cool but I think it might be just a waste of cash.
I just use pouches from RSC. But I love the idea of a good watch box,. That said, I don't know a single thing about about watch box brands.
Jay Y check out “Mirage “ 3 watch roll-about 40 usd fantastic quality. It’s faux leather but you honestly can’t tell (doesn’t smell like leather). It looks almost identical to an Everest!
If it's a no holes case I'll buy it. How much does he want?
If that GMT makes you happy, keep it. If not, take the profit and get something that makes you happy.
The fat lady 16760 was my first Rolex, I doubt I'd sell it even though it's gone up quite a lot.. I love it too much...
Thank you my friend, that’s kind of you. BTW, I used to own the 16700 and would much prefer the 16710 with the jumping hour hand, easiest way for me to use as a travel tool. But you bring up a good point: If he sells it, he’ll never own it again. Once you’ve owned the watch, you’ll never spend 2X or 3X the price to own it again. So it’s not a goodbye, it’s a farewell
The moustache is getting a bit Colonel Custer ish 😂 Keep the GMT 👍 But if you do want to sell it, let me know. I’m in London
LOL."Don't shoot until you can see the white of their eyes"! Cheers.
Are 16710s P series less valuable? Than 16700
The Master 2's are more expensive. They were back in the day, too, when you could buy both. The increased functionality was/is the reason.
@@watchsymposium GMT II were more expensive at AD due to up-graded movement back in the days, but saying that the GMT II is more expensive than a 16700 today, I don't see that.. In similar condition they sell for the same money in the grey, but keep in mind that production run of the 16700 was a lot shorter than the 16710, and the 16700 been the less popular model, where made in much smaller numbers too. The transitional "swiss" luminova only ran for 2 years, short in Rolex standard... And that is actually the last of the GMT's ever made by Rolex. I think we have to see how this will play in the vintage market in 10 to 20 years from now... But if you can find a 16700 cheaper than a 16710 (same condition), I would personally go for the 16700. rarer, and last GMT.
Good points!
Keep it.....
Hey Colonel Daniels I'll have a 10 piece box and chips please.
Lol, now I want a white suit!
Yes do it, you could probably get away with white chinos and t shirt and one of those Texan leather neck tie things. Next fancy dress party Austin...
I would sell it and retire using the profit.
Shave, shave, shave!! 😬
Considering the profit he can pocket I would sell now. Just my humble opinion. Also, in my opinion that mustache is getting a bit 1970s porno LOL!
Ha! :)
SELL NOW before ppl finally come to their senses and the tulip madness ends. Use the proceeds to buy stock in an S&P 500:Index fund.
First
I think he should sell it... to me for $1,000.