Are you kidding me? Two stock-standard Rolex OP watches each sell for over CHF 50K at Christie’s

Zach Blass

I am certainly an advocate of your wrist, your wallet, your choice. I don’t ever want to “purchase shame” a watch collector. But, while I understand how the recent Rolex OP results happened, somehow they still baffle me. Discontinued plus Rolex always equals premium prices. This is nothing new. And watches like the Rolex OP Turquoise 41 have long had staggering premiums on the secondary market. Yet, I still found myself gobsmacked when a Coral Red Rolex OP 41 and Turquoise Rolex OP 41 ref. 124300 each went for over CHF 50,000 this week.

The shock, I guess, does not stem from how unpredictable this result was, but rather how predictable it was. The Coral Red configuration is gone entirely from the catalogue in both 36mm and 41mm, so its estimate of CHF 6,000 – 8,000 was an absolute joke. On average, the Coral Red Rolex OP 41 is listed for ~$25,000 USD on Chrono24, but, somehow, this particular lot achieved an incredibly high result of CHF 50,400 – which will only encourage the secondary market to push their luck further. The Turquoise, however, is still available for inquiry in 36mm, but the power of its Tiffany-flavoured shade has always made it a favourite within the range of Stella-inspired OPs. Whoever placed the winning bid of CHF 69,300 must really have an aversion to 36mm, or a deep mistrust for secondary dealers – who currently list the watch for anywhere between $38,000 – $55,000 USD on Chrono24.

Clearly I need to bring back Don’t Feed the Hype or something of a similar flavour, but not to educate the above winning bidders. Those people will not change anytime soon. Not all hope is lost though. The narrow focus we see on “hype” pieces presents opportunity for us mere mortals who walk among these ultra-rich collector gods. With consistent research and cultivated understanding, there are so many watches to enjoy before they are discovered by those with larger wallets. Take the opportunity to drown out the chatter on these pieces and, while nobody is looking, try to uncover the next big thing – or, even better, something that you simply love.

As an example, one of my proudest acquisitions ticks both the boxes of (potential) foresight and complete admiration and love. It is no secret I am a big fan of Grand Seiko and Spring Drive, so when I first learned of the SBWA001, a lesser known Seiko JDM limited edition of 500 pieces that commercially debuted Spring Drive in 1999, I immediately went hunting. I’ve never really shared what I paid for it, but it was $2,900 USD before shipping and taxes. I am revealing that amount now to exemplify the steals and scores that can be found out there. It is such a rarely listed watch I couldn’t tell you what it would be listed for today, a little over two and a half years later, but it certainly is not going for these astonishing OP prices. I get it is a very niche piece, but we are in a niche hobby after all. As Grand Seiko and Spring Drive gain further awareness, and we have seen strong performances from the brand already at auction, my SBWA001 could become that much more collectable. If it does, great, I will certainly have a decision to make down the line. If not, no sweat – because this is a watch that I continue to love and wear often.