Gmt 1675

[jctrolex]

I have posted this in the general discussion section but I thought I should post it here too to get some opinions from the experts.
I just saw a 1978 GMT 1675 on Hodinkee this morning for sale at $28,000 and it was sold as soon as it hit the internet. It seems the price for these gets crazier each time one comes up for sale. One could buy a 1675 for less than $4k 10 years ago. I know its all about condition and certain dial and all that but the prices still seems pretty crazy in general. I am just wondering if this is just a big bubble ready to be burst when people come to their senses. After all Rolex made a ton of these back in the days when they were selling them for under $300 in PXs around the world so they really are not that rare.
As you can see on my Avatar I have a 1675 and I am wondering if I should cash in on this craziness or just hold on to it for my son. I don't need the money and I love the watch but it has come to the point that I am almost too afraid to wear it because of its perceived value.

[1665fan]

Full set or watch only? NOS or near NOS?? All this matters

[jctrolex]

Originally Posted by 1665fan

Full set or watch only? NOS or near NOS?? All this matters

Watch only, lightly polished, original crystal, bazel, dial and hands, even patina on lumes on indexes and on hands, still running within COSC.

[Juhuatai]

Hodinkee prices are inflated.

[1675-David]

Originally Posted by jctrolex

... it has come to the point that I am almost too afraid to wear it because of its perceived value.

If you are too afraid to wear it because of its perceived value then maybe vintage Rolex is not for you. I probably wouldn't buy any of the watches I own at todays prices but I do love wearing them and still get a thrill out of putting them on.

Either you get that buzz or you don't, and if not, why not cash in and spend the money on something that makes you happy?

[dhknola]

Sounds like a killer watch!
Hodinkee gets at least 10% (probably 20-30%) above normal prices because of their brand.
Considering your situation (no need for money) I would keep as you got it so long ago. IF you sold it, you would miss it BAD ten minutes later. I love watches and 4 digit refs are the best to me, the new stuff is boring.

[HarryLime]

I've actually noticed 1675 prices coming DOWN over the last two years. Who knows what Hodinkee is up to.

[Pocosso]

I love this reference, I am collecting it since few years now, prices went up a lot. I can't say now they are going down but jus a bit slower.

[lhendrickson]

Originally Posted by Juhuatai

Hodinkee prices are inflated.

This. I notice a 25-30% markup on a lot of items on there. One particular listing for an early 1970s Zenith comes to mind that was 50% higher than an equivalent watch in similar condition from a trusted European seller. As is said above, the H brand helps. I would buy from HODINKEE if I had no interest in the hunt, wanted a guaranteed product, and, for whatever reason, wanted to be able to tell ppl that I had bought the watch from HODINKEE. I would rather spend less and buy from a reputable dealer even if it means more hunting. Note: "spending less" does not mean looking for some shady dude on eBay selling an "authentic" 1675 for $3,500. I mean paying market for a mint 1675 but without the bs boost from it being listed in the H store.

[athom]

Originally Posted by HarryLime

I've actually noticed 1675 prices coming DOWN over the last two years. Who knows what Hodinkee is up to.

Despite that I find the prices in general quite high for 1675 and also compared to 5513 for the same set / condition...28k€ for a naked slightly polished 1675 is quite crazy !

[zapokee]

Keep it. The market fluctuates, but goes up in the long term.

Your son will thank you - probably - unless he's burdened with a spectacular watch that's just too expensive to wear. #thirdworldproblem

[jctrolex]

I don’t need the money and I don’t buy watches for speculative reasons. I bought them because I like them. I’ve always liked the GMT and I was fortunate enough to be able to find one before all this craziness started. The reason I posted the question is because like I said I’m almost afraid to wear it because of its perceived value. I guess I’ll take the wisdoms given here and start to enjoy wearing it again and leave it for my son who also appreciate nice time pieces.

[dhknola]

To the OP, nobody pays attention to the watch you wear.* And luckily you are in Canada, which is not totally free from crime, but luckily for you, much safer generally than us down south from you.

*99.99999999999% of people do notice or care

[jctrolex]

Originally Posted by dhknola

To the OP, nobody pays attention to the watch you wear.* And luckily you are in Canada, which is not totally free from crime, but luckily for you, much safer generally than us down south from you.

*99.99999999999% of people do notice or care

You’re correct in saying nobody will notice my watch unless you’re a WIS. It’s not a flashy gold watch studded with diamonds. I’m not concerned about being robbed I’m more concerned about damaging it as a daily wear.

[zapokee]

Originally Posted by dhknola

...nobody pays attention to the watch you wear.

Mostly true. Like sneakers or other niche items.

Unless you come across a mugger who knows his stuff...

[Filipão]

Originally Posted by zapokee

Mostly true. Like sneakers or other niche items.

Unless you come across a mugger who knows his stuff...

Not a Nippon problem for sure Zapokee-san! You are lucky!

[zapokee]

Originally Posted by Filipão

Not a Nippon problem for sure Zapokee-san! You are lucky!

Especially when I haven't been anywhere since March.

[Dan S]

It was a radial dial.

[iliketime]

its hodinkee, money grubbers

[lee fowler]

Originally Posted by Dan S

It was a radial dial.

Starting to make sense now!

[1665fan]

Pretty much like saying I saw a DRSD for 100k, and it didn’t even have a thick case or a HEV valve.....if the price seems crazy it’s probably because you don’t know what your looking at.....

[Kingface66]

Originally Posted by iliketime

its hodinkee, money grubbers

Not saying Hodinkee is the place for bargains, but how are they money grubbers in this instance? It’s a radial dial GMT in great condition for $28,000. There was one up for sale right here in the sales forum for $26,100.

[jctrolex]

Originally Posted by 1665fan

Pretty much like saying I saw a DRSD for 100k, and it didn’t even have a thick case or a HEV valve.....if the price seems crazy it’s probably because you don’t know what your looking at.....

Wow that’s arrogant. I bow to your supreme knowledge. Sorry I posted this to offend you.

[1675-David]

Originally Posted by 1665fan

Pretty much like saying I saw a DRSD for 100k, and it didn’t even have a thick case or a HEV valve.....if the price seems crazy it’s probably because you don’t know what your looking at.....

That’s pretty bad form 1665fan, not everyone is the Vintage Rolex authority you believe yourself to be.

[1665fan]

Shouldn’t one understand what’s for sale or ask why it was such a high price before knocking the price????? Sorry if I came off harsh my apologies...

[lee fowler]

Originally Posted by 1665fan

Shouldn’t one understand what’s for sale or ask why it was such a high price before knocking the price????? Sorry if I came off harsh my apologies...

If your not up to speed on 1675 variations then all you will see is a 1675 GMT!

[Sublovin]

Originally Posted by Juhuatai

Hodinkee prices are inflated.

Yep. It’s laughable, but good for them! In a hobby that is filled with smoke and mirrors, they have done a tremendous job of branding themselves and are able to get ridiculous prices for most everything they sell.

[PVR]

Out of curiosity I went to take a look at Hodinkee.

The watch in question is an excellent example of a Radial MKIII. Right off the bat, the radials are the most rare and most valuable of all the matte dial 1675's. Right there it commands a premium.

This watch has a strong case, original dial and hands, original red back insert. Box. GMT manual and service papers from 1978. Bracelet is the only thing I can see was replaced.

I would offer this watch for 26k. I do not think 28k is out of the realm of possibility. Maybe they negotiated it down a bit? Maybe they get a 2k premium for being Hodinkee and selling their warranty/authentication for it?

24-26k is market for this watch. If it had a red hand it would be 28-30k. Thats where the market is on Radials nowadays..

[lee fowler]

Yes they are stunning and a quick pic of my unpolished original Radial dial GMT from 1977.

[1665fan]

Originally Posted by lee fowler

Yes they are stunning and a quick pic of my unpolished original Radial dial GMT from 1977.

Beauty!