1997 All Gold Submariner Experience

[DanteBrandolini]

Hey All,

In 1997, I bought a Brand New Gold Sub with black dial from an AD in Miami, The retail price at the time was 19,250. They knocked off 3000 bucks, and i got it for $ 16,000. Anyway, a year later in 1998, I got my hands on a brand new SS white dial daytona for $ 5,100. I was on a waiting list for 18 months.
So, now I had my daytona, I didnt wait the gold sub anymore.

Anyway, I was in NYC at the time, and I spent 3 months trying to sell my Gold Submariner, I went to a million dealers all over, and NOBODY would make me an offer of more than $ 6000.00 for the all gold sub. Remember, retail was $19,250, amd no one wanted it, some jerk dealers were offering as low as 4 or 5,000. Anyway, I gave up on selling it for a year. I finally found someone a year later who gave me 9,000 for the sub, so I bit the bullet sold it, and took a huge loss. Now, in 2010, gold sub retails for 30K. So, anyone who buys it for 30k today, and probably would be lucky to resell it for 10 or 12K. Beware on the all gold subs. A Day date would be a much better investment.
Anyway, The SS daytona i bought for $ 5,100 in 1998, I resold it for 11K in 2002. Win some, lose some, thats important life lesson here!
This site rocks, good to meet you all!!

[rolexdeepsea]

great return on the daytona...shame about the loss on the gold sub.

the deal i go to told me rolex jewel content watches is not a good investment stick to the SS version he said!!

[handyhsl]

Thanks for sharing this. For beginners like me this is a really good info!

[Mystro]

Its a supply and demand issue. More people dont have the kind of money buying a solid 18k used or new. SS Rolex are a so common and much more affordable. I love gold and always wanted a 18k Sub but buying new is beyond my comfort zone. I would have snatched that 18k Sub up. Its kinda like the top tier car models like the 700 series BMW. Resale value is horrid. A 3 series BMW takes much less of a hit.