How a Vintage Rolex Obsession Can Drive You
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People collect vintage Rolexes for a few simple reasons, starting Some collectors like the thrill of finding watches on eBay or with the cool factor. If vintage Pateks are the equivalent of Rolls- at estate sales. “I love the hunt,” says Edelman, who bought his HOW A Royces, then vintage Rolexes are old Porsches. Rolex wearers are Daytona through such a sale after bargaining for weeks with the known for their feats of derring-do: climbing Mount Everest, owner. “She didn’t know what it was. I got a good deal on it. winning car races and, in the case of James Cameron, diving 11,000 I found an original box. I bought the little plastic tags that came meters to the bottom of the Mariana Trench with a custom with these watches. I like making complete sets.” Yulish says he VINTAGE ROLEX Rolex Deepsea Challenger strapped to the robotic arm of the “just really doesn’t trust eBay. I’d rather spend a little more money manned submersible. going to a store and know what I’m getting.” Others prefer the “Rolex is a tough watch,” says John Edelman, the CEO of auction house route. “If there are any problems with the watch, Design Within Reach, who has a collection of about 75 timepieces, the auction house will take it back,” says Small. “That’s more including a 1972 Rolex Daytona given to him by his father and than you can expect from a lot of the dealers.” OBSESSION a 1970s Daytona he bought last year. “It wasn’t meant for special occasions. It looks just as good with a tuxedo as with a racing uniform as with an old pair of jeans.” Some fanatics love how much there is to learn. Armed with “ I JOKINGLY TELL PEOPLE THAT IT’S A CAN DRIVE arcane knowledge, aficionados find camaraderie with other collectors. “With Rolex, it’s about the knowledge and the vast edu- DISEASE AND IT SPREADS. I’VE NEVER cation of the community as a whole,” says L.A. Clippers star J.J. MET ANYONE INTO WATCHES WHO Redick, whose collection includes a valuable 6263 Paul Newman with a panda dial, which, in collector parlance, means a white SAYS, ‘THAT’S IT. I’M GOOD.’ ” Redick YOU CRAZY face with black subdials. Admits Alexander Yulish, an L.A.-based artist who recently bought a 1955 Oyster Perpetual for $3,400: “I have three vintage Solid vintage Rolexes, however, don’t have to set you back the ‘ Once clients know what Rolexes. It’s crazy how two watches have different colored dials, price of a Malibu summer rental, as you can pick up an infinitely and one goes for $10,000 and the other for $160,000.” He’ll visit cool 1960s Datejust for less than $3,000. “There’s a lot of bang they want, they start stalking vintage shops up to three times a week to “see what’s new.” for your buck with Rolex — like a great matte dial 5513 can be had Not long ago, Yulish got obsessed with a vintage Rolex that [for] about $8,000 to $10,000,” says Redick. you,’ says a watch dealer, as would have set him back $35,000. “That’s not, like, nothing,” he “For me, collecting watches isn’t an obsession, and it’s not a the hunt for classic Rollies says. “It’s amazing how you can rationalize things. It’s like, ‘I’m hobby. It’s just one of those things,” he continues. “But I jokingly buying it, but it will only appreciate, so technically I’m not buy- tell people that it’s a disease and it spreads. Look at it like this: becomes a ‘frenzy’ ing it for anything — I’m actually going to get paid for wearing I’ve never met anyone into watches who says, ‘That’s it, I’m good. I it.’ ” In the end, he decided not to splurge. don’t need any more.’ ” by JON ALAIN GUZIK SMALL VARIATIONS ON A VINTAGE CLASSIC CAN MEAN THE The Rolex Sea Dweller DIFFERENCE BETWEEN A SIX-FIGURE AND A FIVE-FIGURE PAYDAY AT AUCTION. DEALER ALESSANDRO CIANI DIALS IN ON THE DETAILS + “SINGLE RED” PROTOTYPE + “DOUBLE RED” MKII + WHITE DIAL PATENT $500K $100K $15K THE VINTAGE COLLECTOR IS A RADICALLY DIFFERENT and they are getting harder to find,” says dealer Craig Evan + beast than the average timepiece lover, pining over objects that Small of West Hollywood’s Craig Evan Small Estate Jewelry. are rare, quite often unobtainable and wildly expensive. And As a consequence, the demand for something rare and unmo- when it comes to Rolex — where modest variations in coloring, lested has caused Rolex prices to more than double in the past fonts and serial numbers can make for huge price differences — few years. At the established watch auctions, a vintage Rolex collectors can go seriously down the rabbit hole. — which the brand defines as anything 27 years or older — rou- “Every collector is crazy in his own way,” says watch dealer tinely sells for six figures. The most expensive one ever, a 1949 Alessandro Ciani, whose appointment-only shop in Westlake Oyster Perpetual, gaveled last year for $1.2 million. Village, Calif., is a treasure trove of vintage. He has seen the tell- Other models also command steep prices. A 1955 Rolex 6542 tale signs: collectors obsessing for weeks over what to buy while “Red” with a GMT Bakelite bezel can fetch more than $100,000, constantly coming in to try on a watch and bringing in friends to and an early edition Rolex Sea-Dweller can outpace the cost of a get their opinions. “Once they know what they want,” says Ciani, new Mercedes C-Class. The holy grail, a Paul Newman dial Rolex “they start stalking you. They will call you at midnight, at 7 a.m., Daytona Reference 6239 — so named for the actor who wore a when you’re on vacation. A pathology of the real collector is this 6239 as his everyday watch — can cost hundreds of thousands obsessive mania. They get into a frenzy.” of dollars. This for a stainless steel watch that went for $210 The Rolex Sea The typeface It is certified to a The next iteration is One of the next- The shape After production The line with the The depth rating line The anxiety levels are high because a great vintage watch is a new in 1965. Dweller was of the line “Swiss dive depth of known as the generation of the signature of the Double word Submariner got bolder. The introduced in 1967 - T<22” changes 1,650 meters (later Double Red for its variants, the MKII, is Rolex coronet, Red ended in 1977, disappeared last Ref. 1665 was big investment. And as collecting has gone global thanks to the “I sold Orlando Bloom a perfect Paul Newman Daytona about “as a prototype subtly over time. It versions were two lines in the prized for the fact designed in keeping all of the lines on the from the dial at this made in 1982, Internet, perfect pieces have been snatched up, leaving a sea 10 years ago for $50,000 — it was one of the watches that the Bling with only one line denotes that the certified to 2,000 color red. Says that its dial fades to with slogan “A Sea Dweller were time, as the replaced by the Ref. of overpolished cases (patina is in style now) and mismatched Ring stole that he got back — it’s worth more than $150,000 now,” in red,” says luminescent (and feet). The dealer Ciani: brown from the sun. Crown for Every printed in white company wanted 16660. Rolex retired Ciani. It’s now radioactive) case backs are “The case still says On another variant, Achievement,” on the dial. It is to differentiate the Sea Dweller Frankenwatches (those dreaded pieces put together from dispa- says Small. known as Tritium on the dial is engraved ‘patent pending’ on the MK1, the red varies between sometimes called the it from its in 2008, but brought rate parts, in some cases not all vintage). The market is so strong that collectors can count on most a Single Red. at a safe level. “patent pending.” the back.” lines fade to pink. versions. Great White. Subariner line. it back last year. “People want watches in all-original shape, never been pol- Rolexes gaining value over time. “If you know what you’re buy- ished and with original box and papers. That’s what’s selling, ing, you can sell it for a lot more,” says Ciani. ILLUSTRATIONS BY Todd Detwiler 44 | THE HOLLYWOOD REPORTER | WATCHES ILLUSTRATION BY Lars Leetaru WATCHES | THE HOLLYWOOD REPORTER | 45.