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Hello everyone!
This column discusses mechanical watches from an engineer's perspective. For our 13th installment,
"Differences in Specifications and Price Variation of Semi-Vintage Rolex Watches"
will be our topic of discussion.
Even for models with the same reference number, the value of a Rolex can vary significantly due to differences in year of manufacture, specifications, and other factors.
This time, we will focus particularly on "semi-vintage" 5-digit reference number sports Rolex watches, discussing key points that greatly influence their individual value, such as buckles, luminous paint, and engravings. Please read to the end.
① Buckle Specifications (Single-Lock, Double-Lock)
The "single-lock" buckle, a simple design used until around 1995. Although it offers less robustness than the double-lock, its simple design has been re-evaluated in recent years, leading to a reversal where single-lock buckles are now more valuable than double-lock buckles.
The "double-lock" features a more robust bracelet clasp structure than the single-lock, providing a secure feeling that prevents accidental opening of the buckle. This type of buckle is found only on sports models. While considering manufacturing costs and performance, double-lock buckles are clearly superior to single-lock buckles, from a perspective of "rarity value," single-lock buckles come out on top. Of course, many people prefer the "double-lock" for its design and functionality, so it might be a good target for those individuals.
② Differences in Luminous Material (Tritium, LumiNova)
Tritium, used as luminous paint until around 1998. Since it is a "radioactive substance," its use in watches was completely banned, and it is no longer found in current models. Tritium is known to change color over time, and beautifully aged tritium is now highly valued, surpassing even LumiNova.
Moreover, when requesting maintenance from the manufacturer, tritium luminous parts that show deterioration must be replaced, leading to a decrease in the number of pieces retaining original parts each year. Therefore, tritium luminous material that maintains good condition while exhibiting a superb aged appearance is becoming increasingly rare.
On the other hand, LumiNova exhibits almost no age-related degradation. Unlike self-luminous paints such as tritium, it can be used semi-permanently, is brighter than conventional luminous paints, and has a longer emission time. Therefore, LumiNova would be the optimal choice for users who prioritize practicality. Did you know that LumiNova was actually developed by a Japanese company called "Nemoto & Co., Ltd."? The term "N-lumi" (N for Nemoto) is also a registered trademark, which is a source of pride for us Japanese. By 2000, it held 100% of the market share in the watch industry, and the notion that watch luminous paint equals LumiNova remains firmly established.
③ Lugs with or without side holes
In older Rolex models, holes for spring bars (which connect the case and bracelet) pierced through the lugs, but from the late 1990s, this design gradually changed to one where these holes are not visible. This detail evokes the retro charm of 4-digit reference number "vintage Rolex" watches.
Regarding the "Explorer" Ref. 14270 pictured, models with the "early specifications" — featuring a single-lock buckle, tritium luminous paint, and a case with side holes — are particularly popular and their market price is soaring. However, it's not always the case that "early specifications" are more valuable. For the "GMT-Master II" Ref. 16710, the market price for later models with double-lock buckles, LumiNova luminous paint, and cases without side holes can be equivalent to or even higher than early models. This makes it interesting that early specifications aren't always the most expensive. The value is determined by a comprehensive assessment of factors such as the timing of specification changes, differences in circulation volume due to model changes, and simply whether the appearance is appealing. Of course, the condition of the individual watch undeniably has a significant impact on its price.
④ Presence or Absence of Rehaut Engraving
Some Rolex watches have a "ROLEX" engraving around the inner circumference of the case (rehaut), while others do not.
This feature first appeared around 2004 and has since become a standard specification adopted across all models. Incidentally, between models of the same condition, those with the "engraving" tend to be more valuable than those without.
Summary
What did you think? The reason why even the same Rolex model can have price differences among individual pieces is largely due to the specifications unique to the era of their manufacture. Currently, there seems to be a split in popularity between "early specifications," which exude a vintage feel, and "later specifications," which are closer to current models and have a stronger sense of luxury. Ultimately, however, I hope you choose based on your individual preferences, budget, and intuition! I hope this article provided valuable information and sparked some interest in luxury watches! Also, please feel free to ask any questions directly, and we will be happy to answer them. We look forward to your visit and inquiries. Stay tuned for the next installment! See you then!
