ROLEX SECONDARY MARKET: SUBMARINER DATE (116610LN)
Today, we will be analyzing the secondary price of the Rolex Submariner Date 116610LN. The Submariner date is easily of the most recognizable watch in the world, cementing it as one of Rolex staple watches.
An upgrade to its predecessor 16610LN, it has upgraded to a “Cerachrom” bezel, along with a maxi dial, super case. Also, it no longer has hollow links, and now has a glide-lock feature on its clasp. The white gold surround around the hour markers and super case proves Rolex shift away from tool watches to more of a luxury watch.
Unlike most models, which follows the Covid-19 trend, the Submariner date defied all expectations and rose in price despite the Covid-19 pandemic. To learn more about the Covid-19 phenomenon, check out our previous post on the Secondary pricing of the Rolex 126715CHNR.
The Submariner date has done amazingly well these couple of months, rising an average of 1.1% each month in the secondary market price. Prices started increasing once rumors were out of the discontinuation of the current 116610LN and an upgrade in its movement along with a new case.
Rumors suggests that the new submariner would have slimmer lugs and would have a 72-power reserve in place with the new movement. Cancelation of Baselworld 2020 meant that answers to the speculations had to be delayed. The ever-remaining popularity of the Rolex Submariner coupled with the rumors and the shortage of stocks skyrocketed the prices.
Rolex announced that they will be showcasing their new models in September 2020. Would Rolex announce the new Submariners then, or would it be later in Watches & Wonders 2021?
Do you think that the prices will continue to go up or has this model reach its peak? Only time will tell.