The Rolex Submariner "Hulk" history, current price and future value

 

Rolex is used to be so conservative in the past on sport model, however during Baselworld 2010 watch fair, Rolex released this so called “Hulk” with Green dial and green bezel! It was immediately seen as most daring design of eye-catching colour on a Submariner! At the same time, the 116610LV was an instant success upon its launch, met with great feedback and praise.

 When Rolex first introduced the Submariner in 1953, it set a benchmark and pushed the boundaries for what a serious professional dive watch is. Back in the days, the watch market looked a lot different from what it does today, a time when people used watches as a tool. Today, the majority of Rolex Hulk Submariner owners never put it into water, not mentioning diving with their watches.

Investment on Hulk

This is quite an interesting topic when it comes to Rolex, since Rolex, generally speaking, is known to be quite good investments.

Generally speaking, the secondhand value of stainless steel sports Rolex watches tend to increase in value over time. In particular when a certain model is discontinued. Looking at the past tends to give quite a good indication.

When it is practically not possible to get many of the sports models from Rolex in stainless steel from the authorized dealers due to an extreme demand and low supply, and as a result of this, it makes it a bit more difficult to predict the future and what will happen next.

Base on the trend of Sept 2020 until now, to talk a little bit about the Rolex 116610LV, it seems that this is a watch that is a good investment because the prices on the secondhand market have only continued to increase. 

Price of Hulk as of 31 May 2021

NOS 116610LV with sticker full set - $190,000

Used 95% full set 3-6 years watch $130,000 -145,000

Used 90% full set 5-8 years $120,000 approximately. 

Price of Hulk estimated by end of 2021

NOS 116610LV with sticker full set - $210,000

Used 95% full set 3-6 years watch $150,000

Used 90% full set 5-8 years $130,000 approximately

What do you think? Buy now?

HK Snob

Legend

Unit here is HKD (Hong Kong Dollar)

NOS – new old stock

 

 

 

More on Rolex GMT Master II Pepsi

Since Baselworld 2018 Rolex introduced the retro GMT Master Pepsi in Jubilee bracelet, the price was kept high until today. It was rising to HK$190000 in the first month of May 2018, and it is now still maintained at price of HK$150,000 after 3 years.

Lets see how the new movement Pepsi will be sold now in Hong Kong, this is using new movement with Ref 126710BLRO on Oyster Bracelet. Today price is HK$180,000, very high and there is not many stock available, I think the price will be moving around HK$160K-170K for a period of time. Well, that is a stainless steel GMT Master II, here I am talking about a very special Meteorite dial being housed into a white gold case with Red and blue bezel. I always like the combination of Meteorite on white gold case and Green dial with Yellow gold case, that is the best matching combinations.

Here I have two offers, one is May 2020 with sticker, new unused and one is 2021 May unused. Price is not too high as a special watch like this is concerned. 

Who know once this GMT Meteorite will be discontinued? another two years by 2023? then Definitely this watch price will be fetching close to HK$1,000,000 or more.

HK Snob

Luxury watch market amidst the Pandemic in Hong Kong

 As previously reported by friends, dealers, collectors, most people look to the secondhand market to buy their timepieces, and vintage watches pretty much dominate the sector. I should say more people go to the neo-vintage as they are tend to be more affordable.

Before the Pandemic in Q1 2020, we speculated that watch price would drop, however due to the strong Quantitative Easing by the US federal reserve, money is getting less valuable than it was before. People has money would either go for buying real estate and or certain expensive luxury watches.

That statement confirmed true after one year of the pandemic, where high-net-worth-individuals have continued to splurge on luxury items.

For example, the Sotheby's Important Watches live auction concluded on December 15 2020 and brought in $10.4 million — up 27% from 2019 — with a Patek Philippe double name Tiffany Ref 2499  selling for $818,600. Other standouts from the auction: A Cartier Ecran Mystery Clock that went for $564,500, and a Salmon Dial Audemars Piguet Royal Oak selling for $441,000.

In addition to the hype around owning a Rolex or Richard Mille, most understand that many luxury watches hold good investment value, like a Birkin or a Basquiat. These are all high-end, quality goods that have historically proved to retain the value paid for them or even become more valuable over time, often significantly.

Though Bain reported in November that the luxury goods market has fallen 23% to $265 billion this year, very expensive items such as Hermes bags relatively untouched by financial discord and market downturns. As during last weekend, the only shop that has a 20 persons queue at the entrance is Hermes at Canton Road of Tsim Sha Tsui.

Richard Mille is the Hermes of watches now. "Richard Mille is the most expensive. It's not just the craftsmanship, technology and research on material; it is the supply and demand. They only make maybe four or five thousand watches a year. You can't really get them.

Deloitte's 2019 "Global Powers of Luxury Goods" found that the average annual sales from the top 32 watch and jewelry companies topped $2 billion in 2017, and a 2018 Bain report stated that the secondhand market was worth nearly $25 billion, with watches and jewelry making up over 80% of all secondhand market purchases.

The next best investment after Richard Mille is a Patek, Audmears Piguet and Rolex. Not just because they are beautiful, but because they also retain their value. From there, Audemars Piguet — Bieber bought one in 2019 for $50,000 as a "lil wedding gift" to himself. Patek Philippe is also a solid choice — Jay-Z owns one worth at least $2.2 million. Note to take note that within these two years, we see that the demand on Blue dial Overseas Vacheron Constantin is getting higher, so as their classic pieces such as Perpetual Calendar especial housed in case of Overseas, 1921… etc.

Before the COVID-19 pandemic hit and destabilized global financial markets, the luxury sector was still recovering from the impact of the Hong Kong protests, which saw Swiss watch imports to the region decline by 26.8% in comparison to 2018. Facing the coronavirus pandemic, the luxury watch industry was preparing for its worst year yet. However, since 1Q 2020 up to now. The Watch price has been increasing a.

Most obviously is Daytona, All Daytona price has been up more than 15-20% Q2 2021 comparing with that of Q2 2020.

The moral of the story is:-

Real estate dollar per square foot is breaking record at midst of COVID-19.

Wealthy people are still buying luxury watches and Hermes amid the pandemic.

Poor people is still suffering from either loss of job or losing pay hours!

No confirmed date of border lock down lifted even for Macao or China, not need to mention other countries such as Thailand, Singapore, or EU.

I wish that more HK people would go for COVID Vaccination free of charge, we are living in a paradise that we have millions of vaccine surplus back up by our motherland but people is hesitate to go for jab. Those poor countries have thousands of death tolls every day because of not enough vaccine!

HK Snob

 

 

Three brand new Rolex on sale

 GMT Meteorite 116719BLRO Mar 2020 Brand new un-used with sticker HK$500,000

Daytona White Gold 116509-78559 March 2020 slightly used a couple of time HK$350,000

Submariner 116618LN May 2020 brand new un-used HK$280,600

All three are HK AD watch full set paper and box.

Interested party please whatsapp me 51229994

HK Snob

How does a Tourbillon work?

Tourbillon

It was developed around 1795 and patented by the French-Swiss watchmaker Abraham-Louis Breguet on June 26, 1801. In a tourbillon the escapement and balance wheel are mounted in a rotating cage, in order to negate the effects of gravity when the timepiece (thus the escapement) is stuck in a certain position.

In a tourbillon, the whole assembly is constantly moving in one revolution a minute. That means no matter what position the watch is in, those timing variations gain on one side or loss on the other side are essentially canceled out.

Below sketch clearly illustrated the difference between normal watch and a tourbillon.

HK Snob

 

2021 Novelties' Breitling Premier B09 Chronograph

 This is surely an awesome design dial mainly the pistachio green is a killer.

I think 80% of people see it will like it. and I believe that is one of the hot watches in 2021 after 

The Patek 5711 and Reverso in Olive dial.  

And I had ordered by deposit at AD for two pieces and I hope I can get them both in June,

It is a manual winding  with 28 Jewels with transparent bottom on the 40mm stainless steel case, double register dial and a matching crocodile strap.

Price is also very attractive as this would not be enough to buy a Rolex Oyster Perpetual 126600 in Green.

May you you have to add another USD3000 to get it. well, what's your hesitation?

HK Snob

Buying Behaviour

When Williams-Sonoma introduced bread machines, sales were slow. When they added a “deluxe” version that was 50% more expensive, the original started flying off the shelves; the first bread machine now appeared to be a bargain.

iPhone high end version and lower version is actually similar in hardware but matter of a software to limit the available functions and set a different marketing price for what they want to get main profit margin they expect.

Tversky and Kahneman conducted the following experiment: when contemplating the purchase of a $25 pen, the majority of subjects would drive to another store 15 minutes away to save $7. When contemplating the purchase of a $455 suit, the majority of subjects would not drive to another store 15 minutes away to save $7. The amount saved and time involved are the same, but people make very different choices. Hong Kong People are known to be good at this practice… Searching in internet, Carousell, facebook Chrono24 for the lowest offers and then they select the one they want to approach.

Salvador Assael, the Pearl King, single-handedly created the market for black pearls, which were unknown in the industry before 1973. His first attempt to market the pearls was an utter failure – he didn’t sell a single pearl! So, he went to his friend Harry Winston, and had Winston put them in the window of his 5th Avenue store with an outrageous price tag attached. Then he ran full page ads in glossy magazines with black pearls next to diamonds, rubies, and emeralds. Soon, black pearls were considered precious. In short, marketing is needed for making luxury items sales possible. 

Setting a price

Every item has a price. I purposely don’t want to put an over high price tag and wait for negotiation, and I think wise buyer know the real price and low bailer will be filtered away by doing this. I think negotiation is not my style, and if one day this is likes some supermarket sales tricks buy one get one free, you had better beware on the luxury watch you bought in this offer.

HK Snob

What is the watches I should consider to buy today?

 

What is the best watch that I should consider to buy today?

There is no definite answer on it as being a watch is being used as a man's accessory. Not an investment item, well we cannot say watch investment, but in other terms, it may say alternatively while a way to enjoy your watch at same time you feel like its value is not losing too much.

From my experience there is what I interpret.

Scarcity and “beautiful” is always one of the two major key factors for it long terms value to be appreciated.

Scarcity means that is was made in small number, or it was purposely made in small number.

Remember the logic, when you buy the watch that may be already made in a lot in production, so in future that may be also a lot available the value will not appreciate too much.

The one we used to be “beautiful’ is somewhat hard to say, aesthetic is quite abstract and that also involve people influence such as what is the hype in that period of time. Remember no one wanted to buy Daytona in 80’s. and that time you can get it easier with discount. Now Daytona is what most sought after sport watch from Rolex. So if you buy Daytona 20 years ago. It will be a good return today.

Remember people did not like big watch in the 80’s they can take 34mm Rolex at most by that time and not so many people buy Rolex 36mm in that time for Date Just, now we have Date Just, Date Day of 41mm and recently it is reduced to 40mm which is ore accepted by most of the end users.

What is the best Rolex watch that we should keep an eye on?

Oyster Perpetual Series

There are a series of colour with No.1 hot is Tiffany Blue, with 126000 36mm SRP $46,400 now it worth more than $110,000 the large version of 41 mm Ref 114300 is even selling $140,000 ! 

Next is Pink, green, Red, Orange, yellow, black and silver. Black and silver is not hot at all. And Pink’s price is the second runner up after Tiffany Blue, But I am eye on the RED, as the RED is exactly the China national flag RED, if this is becoming one day the preferred watch of the Chinese.. This may flip 4X or more. Of course this is my pure guess and I think there isn’t no such possibility. Buying for speculation.

GMT Master Series

There is one watch that I think it matches the two major key factors for price appreciation, the 126710BLRO in Meteorite dial, that is a rare piece and was selling like SRP $306,000 in 2020 and I speculate that this watch will fly 2X in two years. And 4X in 6 years. The reason is that Rolex is seldom using meteorite as the dial material, only a few pieces were using this material to make the dial such as Daytona, Day Date and this first time on GMT Master II.

How about the third one?

Sea Dweller 126000- No as it is under production.

Starbucks 126610LV – NO, just been launched in Sept 2020.

Hulk 116610LV – No, as too many had been made in the past 11 years.

Daytona 116500 White – yes or no, as this current price has been up 2.5X already, room for further going up is lean, EXCEPT they are going to discontinue it by 2021…. So if we can get one below $220,000 within 2021 should be good!

I think we should go for it.

Any other more??

Let  me think of it.

HK Snob