Rolex Submariner

The Legendary Submariner: The Diver's Friend

Rolex released its first Submariner in 1953. The Swiss manufacturer initially developed the watch as a specialist tool for professional divers, standing out from the crowd with its large luminous hands and indices, rotating bezel, and increased water-resistance. The watch's popularity is unwavering, and it's still considered the archetype of the diving watch to this day.

Despite its functional tool watch design, the Rolex Submariner – be it vintage model or modern version – also looks great with business and leisure attire. Thanks to this versatility, the Rolex diving watch is one of the most popular timepieces in the luxury watch manufacturer's catalog.

Another advantage of the Submariner is its stable market value, which makes it an ideal investment.

Reasons to Buy a Rolex Submariner

• The world's most famous diving watch
• Distinctive, unmistakable design
• Extremely accurate and reliable in-house calibers
• Available in stainless steel, gold, and two-tone versions
• High value retention with the potential to appreciate

What different Rolex Submariner models are there?

The Submariner collection is essentially divided into models with and without a date function. The version without a date – often referred to by fans as the Submariner No Date – is a timepiece for purists, as the original Submariner also had no date. Another similarity between the original Submariner and current No Date versions like the ref. 124060 is that they're only available in stainless steel, and with a black dial and bezel.

As of 2020, there are seven Submariner Date models to choose from. The most common version is the ref. 126610LN. The "LN" in the reference number stands for "Lunette Noire", as the bezel and dial of this Submariner are also black. Rolex manufactures the case and bracelet in stainless steel.

Kermit and Hulk: Green Submariner Variants

Along with the black Rolex Submariner Date, the green Submariner models are also extremely popular. The version with a green bezel and black dial is commonly known as the "Kermit." Watches with a green dial and bezel are referred to by Rolex fans as the "Hulk." Both watches may be bold in terms of color, but they're indistinguishable from their black counterparts when it comes to their technical specifications.

Rolex Submariner in Gold

Rolex also offers the Submariner Date with an 18-carat gold case and bracelet. Buyers can choose between yellow or white gold versions, which are paired with either a black or blue dial and bezel, depending on the reference. Rolex enthusiasts also demonstrated their creativity here, and nicknamed the blue version "Smurf."

Two-Tone Submariner Date in Gold and Steel

The Submariner collection also includes two-tone models made of stainless steel and yellow gold. Rolex calls this combination of materials "Rolesor," and dials and bezels come in black or blue.

Rolex Submariner Variants at a Glance

• Rolex Submariner (No Date): stainless steel, black bezel, black dial, no date
• Rolex Submariner Date: stainless steel, black bezel, black dial, date
• Rolex Submariner Kermit: stainless steel, green bezel, black dial, date
• Rolex Submariner Hulk: stainless steel, green bezel, green dial, date
• Rolex Submariner Smurf: white or yellow gold, blue bezel, black or blue dial, date
• Rolex Submariner Rolesor: stainless steel and yellow gold, black or blue bezel, black or blue dial, date

Prices: Rolex Submariner

How much does a Rolex Submariner cost?

If you're looking for a Submariner from the current collection to call your own, expect an entry-level price of about 9,800 USD on Chrono24. This level of investment will get you a stainless steel Submariner No Date ref. 14060 in mint condition. This model was in Rolex's lineup from 1988 to 2012. If you'd prefer a more modern reference, like the ref. 114060 or ref. 124060 from 2020, prices jump to around 11,900 and 13,500 USD, respectively.

Comparable Rolex Submariner Date models with the reference numbers 16610LN, 116610LN, and 126610LN change hands on Chrono24 for between 12,800 and 15,400 USD. Collectors are particularly keen on green Submariner Dates, so you can expect to see the "Kermit" and "Hulk" variants listed for between 17,600 and 23,800 USD.

Two-tone models in mint condition with five- and six-digit reference numbers range in price from approximately 16,500 to 19,400 USD. A comparable Submariner in yellow or white gold and mint condition will set you back between 32,500 and 43,300 USD on Chrono24.

How much does a used Rolex Submariner cost?

A pre-owned Rolex Submariner won't hit your bank account quite as hard, but how much you actually save depends heavily on the model you want and its condition. A well-maintained pre-owned Submariner ref. 114060, for example, is only a few hundred dollars cheaper than a comparable watch in mint condition, but a used Submariner Date 16610LN changes hands for roughly 2,700 USD less than a new watch.

The same applies to gold and two-tone models. For the ref. 16618LN, for example, the price of new and used timepieces is almost identical, but buying a used two-tone Submariner Date ref. 16613LN rather than a new watch with the same reference number will save you some 4,300 USD.

Waiting Times for a Rolex Submariner

Watches in the Rolex Submariner collection are among the most sought-after timepieces in the world. Demand far outweighs supply, which means that waiting lists at authorized dealers are getting longer and longer. It's actually not uncommon to wait several years for certain models.

Of course, you don't have this problem on a marketplace like Chrono24, where everything from brand-new references to rare vintage timepieces are available immediately, albeit at a premium. The Submariner Date 126610LN, for example, changes hands on the secondary market for over 4,000 USD above Rolex's official list price.

Prices for Vintage Submariner References

Like most vintage Rolexes, vintage Submariner models are highly coveted. Two popular vintage references are the 5512 and 5513, which debuted back in the late 1950s and early 60s, respectively. And even though both models were produced for a number of years, there are currently very few left on the market. You can get a ref. 5513 for around 15,200 USD, while the ref. 5512 will set you back well over 30,000 USD.

References 16800 and 168000 from the 1980s, for example, are more affordable alternatives to the two vintage models mentioned above. These watches have a date function and are much more readily available than their older counterparts. In the fall of 2023, you could have called a ref. 16800 your own for around 11,700 USD, while the ref. 168000 would have set you back about 16,000 USD.

James Bond's Original Ref. 5513: Worth 365,000 USD

In November 2001, Christie's auction house sold the original Submariner 5513 from the 1973 James Bond movie "Live and Let Die" for 25,850 GBP (approximately 38,000 USD at the time). The same watch went on the auction block again in 2015, this time at Phillips. When the bidding was all said and done and the premiums added, it nabbed an impressive 365,000 USD. That means its price increased almost tenfold in 14 years.

The "James Bond Sub" ref. 6538 is also popular among collectors. Sean Connery wore this timepiece in the 1962 Bond film, "Dr. No." If you're lucky enough to find one of these watches, plan to spend well over 135,000 USD.

Popular Collectibles: "Red Sub," COMEX, and More

Some Rolex watches prove irresistible to fans and connoisseurs alike. The "Red Sub" is one such highly sought-after collectible. Rolex produced the Submariner ref. 1680 from 1967 to 1980. The word "Submariner" was written in red on the dial until 1974, thus earning it the nickname "Red Sub."

Between 1967 and 1974, Rolex produced the Red Sub with numerous dial designs, labeled Mark I through Mark VI by fans. At first glance, the models may seem identical, but the trained eye will notice subtle differences in the typography and whether the depth rating on the dial is indicated first in meters or feet. Watch enthusiasts are just as enamored of models with tropical dials, where the watch's dial and bezel fade to brown over time.

Depending on the watch's dial color and condition, expect to pay upwards of 27,000 USD for a "Red Sub." The potential for appreciation is also significant due to the rarity of the watch.

Many collectors dream of getting their hands on one of the Submariner models Rolex developed specifically for the Compagnie maritime d'expertises (COMEX). The watch (ref. 5514) was produced from the 1970s to the 1990s and has since performed very well financially, making it a sound investment piece. The average price for a ref. 5514 is now approximately 110,000 USD; two years ago, you could have purchased one for about 76,000 USD.

Investing in the Rolex Submariner

Rolex watches are generally very stable when it comes to retaining their value. The Submariner is no exception. Until mid-2022, the watch even recorded enormous increases in value. Although this trend has cooled down noticeably since then, the Submariner is still an attractive investment, especially in the long-term. As of Autumn 2023, prices for most Submariner models on Chrono24 had levelled off at around the price from two years before. However, the curve is already pointing slightly upwards again for some models.

In general, and despite the market corrections, the value of all Submariner models has risen continuously, regardless of whether the watch is new or used. Any potential profits ultimately depend on the purchase date. As of October 2023, the consensus was that it's a relatively good time to buy, all things considered.

Prices for vintage watches are also on the rise, despite slight fluctuations since 2022. However, if you consider these watches as a long-term investment, a purchase can be worthwhile. Take, for example, the Submariner 5508: In 2013, this watch cost 15,000 USD. Ten years later, however, the market value had exceeded 30,000 USD.

Consistent Success Since 1953

The Submariner has spent the last six decades making watchmaking history. It has also become an icon and one of the most well-known watches of all time. In 2012, the special Deepsea Challenge model plunged into the Mariana Trench, reaching an impressive depth of about 36,000 ft (nearly 11,000 m). The predecessor of the first Submariner, known as ref. 6200, launched in 1953, and was water-resistant to 100 meters (10 bar, 328 ft) thanks to its distinctive Twinlock crown. To this day, divers can align the zero point of the bezel scale with the minute hand. A glance is all it takes to check the duration of the dive.

Rolex took the advice of René-Paul Jeanneret when designing the Submariner. The former Rolex director was an avid recreational diver and gave helpful suggestions for the dial, bezel, and case. The watch survived various tests and 132 dives to depths of between 12 and 60 m (39 to 197 ft). It was even dropped on a concrete dock from a height of just over six-and-a-half feet (two meters) and continued to function. The only damage was the loss of a small part of the luminous material from one of the hands. The successor of the original Submariner was water-resistant to 200 m (20 bar, 656 ft) and used to be the official watch of the British, Australian, and Canadian navies.

Timeless Design

Today's Submariner models look almost the same as early editions of the classic diving watch. Over the years, the case has grown, and a crown guard was added (in 1959) to protect the screw-down crown. In 1966, a version with a date indicator joined the collection. Other changes or additions have been minor, such as polished bracelet components and cases or blind lugs (i.e., lugs that are not drilled through all the way). Although its design is from the 1950s, the Rolex Submariner remains a modern timepiece.

Over time, these automatic watches have progressed to a water resistance of 300 m (984 ft) and feature rotating bezels with 120 clicks. The bezel can only be turned counterclockwise, which is a requirement for all modern diving watches. Its insert is made of Cerachrom ceramic, which is particularly scratch-resistant. Rolex's proprietary luminous material, Chromalight, fills the bezel's zero marker. This substance glows blue in the dark and is brighter than Super-LumiNova. Furthermore, Rolex's watchmakers add platinum or gold dusting to the bezel's numbers and indices.

Both the index markers on the dial and arched hands are made of gold. The hour and minute hands glow in the dark, as does a spot on the second hand. Compared to earlier models, the sapphire glass barely sticks out, protecting it from jolts. A Glidelock clasp enables the wearer to adjust the size of the bracelet in 2-mm increments. Therefore, the watch fits just as well on bare wrists as it does over wetsuits. The clasp, which is slightly larger than those found on previous versions, also features a safety mechanism, ensuring it can't be opened accidentally.

FAQs

How long do you have to wait for a Rolex Submariner?

Waiting times for a current Rolex Submariner at an authorized dealer depend heavily on the model, and range from three to six months to over two years. On the secondary market, however, the same timepieces are usually available immediately, albeit at an additional cost.

How much does a Rolex Submariner cost?

Prices for a used Rolex Submariner range from around 7,000 USD to well over 110,000 USD, depending on factors such as the model, its rarity and condition, and the scope of delivery (original box and papers).

What's the price trend like for the Rolex Submariner?

When viewed over a longer period of time, the performance of the Rolex Submariner is very positive.