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mrsentinel · 22 May 2018, 10:47 AM

Hello everyone. My grandfather left this watch to my dad. It has never been polished and looks like it is in really good shape. My dad is doing up insurance quotes due to issues with theft and asked me to post the watch here. I tried doing some chrono24 searches and ebay sold listings, but it is all over the place. Prices ranged from $6000 to $9000 ebay versus dealers. I just want to be sure we are not seriously undervaluing it. Just in case someone might ask, the watch is not for sale. If anyone could share recent sold listings of this year and model, it is also much appreciated!

exador · 22 May 2018, 12:33 PM

Does it have box and papers?

mrsentinel · 22 May 2018, 09:37 PM

Nope

exador · 23 May 2018, 08:08 PM

I’d insure it for $9K then.

SubMarine · 23 May 2018, 09:07 PM

Very nice watch.

riverrat · 23 May 2018, 10:16 PM

I'm going to guess you'll be asked to verify the amount with a recent appraisal. Id have your father check and see if one is required, if so then there's your definitive answer. If not, Id probably do it regardless and then you'll have a much better idea. Good luck!

mrsentinel · 23 May 2018, 10:49 PM

Good point about a legit appraisal in regards to the insurance. I was just making sure that we weren't talking something in the range of $15,000 or more, which is why a ballpark helps. Doesn't seem like the 16710 from this year is fetching insane numbers like some references are. Regardless, it's great appreciation in value in comparison to its original retail price! I asked my dad about the bezel and he says it was a camera artifact or dust of some sort. He said the bezel looks near perfect which is a small miracle in and of itself. The deep scratch in the crystal was likely due to my grandfather's fear of customs coming from Europe to the USA. A good scratch somewhere would make it tough for customs to say it was a new watch.

T01 · 23 May 2018, 11:11 PM

Nice!

Speed · 23 May 2018, 11:36 PM

I’d get it serviced.

Is anyone going to wear it? It would be a shame if the answer is no.

Wow. Scratching a crystal to ensure customs didn’t think it was new? That’s one I’ve never heard!

mrsentinel · 24 May 2018, 12:44 PM

My dad said he would scratch crystals or casebacks just in case they questioned it being a new purchase. He literally took a fork to a caseback for my dads first rolex back in the 60s. Nobody will be wearing it unless my dad gives it to me. He is rough on watches. It wouldnt last a week. I would have to service it even if it sat in a safe.

Likestheshiny · 24 May 2018, 01:06 PM

Quote:

Wow. Scratching a crystal to ensure customs didn’t think it was new? That’s one I’ve never heard!

I have a distinct memory of a shopping trip across the border as a kid. My dad bought a new Walkman (ooh, high-tech). A few miles from the border, we stopped the car, and he rubbed his shiny brand new Walkman against the roadside gravel, to make sure customs didn't ding him for it.

Personally, I'd rather declare it and pay extra to have a shiny new toy.

WJGESQ · 24 May 2018, 01:30 PM

Quote:

Originally Posted by exador

I’d insure it for $9K then.

May as well go for the high end of "stated value".

siempreko · 24 May 2018, 01:32 PM

I love family watches! I hope you get to honor your grandfather by wearing it! I love it when I wear my grandfather’s Rolex!

Sent from my iPhone using Tapatalk

andrewjb88 · 24 May 2018, 01:50 PM

Quote:

Originally Posted by siempreko

I love family watches! I hope you get to honor your grandfather by wearing it! I love it when I wear my grandfather’s Rolex!

Sent from my iPhone using Tapatalk

I agree that needs servicing and wearing!

Kel_Solaar · 24 May 2018, 06:32 PM

Nice watch!

mrsentinel · 24 May 2018, 11:59 PM

My dad was looking for pricing info for the insurance and found Bobs. Bobs Watches offered $6500. I told my dad to never speak to them again...

22 May 2018, 10:47 AM	#1
mrsentinel "TRF" Member Join Date: Nov 2015 Location: SC, USA Posts: 39	1989 Rolex GMT Master II 16710 Hello everyone. My grandfather left this watch to my dad. It has never been polished and looks like it is in really good shape. My dad is doing up insurance quotes due to issues with theft and asked me to post the watch here. I tried doing some chrono24 searches and ebay sold listings, but it is all over the place. Prices ranged from $6000 to $9000 ebay versus dealers. I just want to be sure we are not seriously undervaluing it. Just in case someone might ask, the watch is not for sale. If anyone could share recent sold listings of this year and model, it is also much appreciated! Attached Images

22 May 2018, 12:33 PM	#2
exador Banned Join Date: Dec 2014 Location: NZ Posts: 2,600	Does it have box and papers?

22 May 2018, 09:37 PM	#3
mrsentinel "TRF" Member Join Date: Nov 2015 Location: SC, USA Posts: 39	Nope

23 May 2018, 08:08 PM	#4
exador Banned Join Date: Dec 2014 Location: NZ Posts: 2,600	I’d insure it for $9K then.

23 May 2018, 09:07 PM	#5
SubMarine Banned Join Date: Aug 2014 Real Name: Douglas Location: London, UK & USA Watch: Submariner 16610 Posts: 723	Very nice watch.

23 May 2018, 10:16 PM	#6
riverrat "TRF" Member Join Date: Dec 2017 Location: Southeast US Posts: 74	I'm going to guess you'll be asked to verify the amount with a recent appraisal. Id have your father check and see if one is required, if so then there's your definitive answer. If not, Id probably do it regardless and then you'll have a much better idea. Good luck!

23 May 2018, 10:49 PM	#7
mrsentinel "TRF" Member Join Date: Nov 2015 Location: SC, USA Posts: 39	Good point about a legit appraisal in regards to the insurance. I was just making sure that we weren't talking something in the range of $15,000 or more, which is why a ballpark helps. Doesn't seem like the 16710 from this year is fetching insane numbers like some references are. Regardless, it's great appreciation in value in comparison to its original retail price! I asked my dad about the bezel and he says it was a camera artifact or dust of some sort. He said the bezel looks near perfect which is a small miracle in and of itself. The deep scratch in the crystal was likely due to my grandfather's fear of customs coming from Europe to the USA. A good scratch somewhere would make it tough for customs to say it was a new watch.

23 May 2018, 11:11 PM	#8
T01 "TRF" Member Join Date: Jan 2013 Real Name: T Location: AZ, NV, CA Posts: 6,490	Nice!

23 May 2018, 11:36 PM	#9
Speed "TRF" Member Join Date: Aug 2009 Location: USA Posts: 19,706	I’d get it serviced. Is anyone going to wear it? It would be a shame if the answer is no. Wow. Scratching a crystal to ensure customs didn’t think it was new? That’s one I’ve never heard!

24 May 2018, 12:44 PM	#10
mrsentinel "TRF" Member Join Date: Nov 2015 Location: SC, USA Posts: 39	My dad said he would scratch crystals or casebacks just in case they questioned it being a new purchase. He literally took a fork to a caseback for my dads first rolex back in the 60s. Nobody will be wearing it unless my dad gives it to me. He is rough on watches. It wouldnt last a week. I would have to service it even if it sat in a safe.

24 May 2018, 01:32 PM	#13
siempreko "TRF" Member Join Date: Jan 2013 Location: Maryland, USA Watch: Sometimes Posts: 1,197	I love family watches! I hope you get to honor your grandfather by wearing it! I love it when I wear my grandfather’s Rolex! Sent from my iPhone using Tapatalk

24 May 2018, 06:32 PM	#15
Kel_Solaar "TRF" Member Join Date: Apr 2018 Location: Cheltenham Posts: 93	Nice watch!

24 May 2018, 11:59 PM	#16
mrsentinel "TRF" Member Join Date: Nov 2015 Location: SC, USA Posts: 39	My dad was looking for pricing info for the insurance and found Bobs. Bobs Watches offered $6500. I told my dad to never speak to them again...

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