Help needed - 1969 Submariner

[johnhargrovejr]

I would appreciate your experience and advice. A close friend's husband died several years ago and left a "1969 Submariner No Date" for his son. The mother had the watch serviced and appraised (in 2017) and the appraisal came in at $15K. The son needs a car more than the watch, so they are going to sell the watch. Dealers/jewelers are the obvious choices, but under the circumstances, it would be great to get top dollar (if possible). Private sales can be a little intimidating (the unknown). What are your thoughts on possible approaches to selling the watch?

Thanks in advance for your feedback.

[dkg1616]

It’s just like selling a used car.

Private sale will get you the dollars you want.

Is it a possibility to lease an entry level civic or similar? Real bummer to have to sell such a nice piece given the history. He will regret selling the watch....

Cars are just cars... a family heirloom is forever

[JParm]

I obviously have no knowledge of their financial situation and maybe watches mean nothing to them, but to me, the sentimental value of a watch passed down from a husband and a father is priceless. The watch would mean an infinite amount more 10/20/30 years from now than what the car would be worth.

Again, this is just MY opinion and I know you were asking on approaches to sell, but I would steer heavily towards getting him to keep it.

[El Cascarrabias]

If he has no appreciation for the watch, take bunches and bunches of pictures and sent them to DavidSW and see what he'll do.

[Frakis]

Originally Posted by El Cascarrabias

If he has no appreciation for the watch, take bunches and bunches of pictures and sent them to DavidSW and see what he'll do.

I would become a pledge member, and list it for sale. You'll have to answer some questions, deal with low ball offers, scammers, etc.

OR

You can go the hassle-free route, and reach out to dealers like the one mentioned above. I was offered $3k lower than what I just sold my watch for. It's a joke, and I laughed out loud at his offer. With anything you sell, you'll make more on a private sale. I also believe he will regret selling it in the future, and would try to hold onto it. Good luck!

[jimcarver]

Originally Posted by Frakis

You can go the hassle-free route, and reach out to dealers like the one mentioned above. I was offered $3k lower than what I just sold my watch for. It's a joke, and I laughed out loud at his offer. With anything you sell, you'll make more on a private sale. I also believe he will regret selling it in the future, and would try to hold onto it. Good luck!

Depending what watch it was that's not necessarily that bad. Dealers are not doing it for the fun of it, they have to make money too.

[Frakis]

Originally Posted by jimcarver

Depending what watch it was that's not necessarily that bad. Dealers are not doing it for the fun of it, they have to make money too.

He offered $6k for my 16710 D-Serial Pepsi just serviced at RSC - haha. He wanted a 33% discount. I'll never do business with the aforementioned dealer. Yes, he has a great reputation among other members here on TRF, but the beauty is we can all choose to spend our hard earned cash how we please.

OP - take your time and reach out to a few of the other trusted dealers on here. Send me a PM, and I can give you some names. Cheers!

[Beelzy]

Take a loan against it?

[Tools]

Appraisals do not reflect market value very often, they reflect what it would cost to walk into an AD and replace it.

[albaserver]

Originally Posted by beelzy

take a loan against it?

top! :)

[SLS]

Value of the watch will be determined an whether or not the original dial, hands and insert were kept after servicing. In 1969 there were 2 no date Sub's, ref 5512 and ref 5513. 5512 will have 4 lines with Superlative Chronometer Officially Certified below the depth rating and Submariner name and a 5513 will have 2 lines. Pics of the watch would help.

[Rebel]

The car value will go down. I wish the best for them.....I wish for the son to have the watch.

[TempoKing]

I doubt that he will get a very good car for this kind of money

Maybe a 2011 Ford Fiesta with 60.000 miles from a local Ford dealer ?

Trouble is..they were given an over inflated appraisal which does not represent
the current true value - even if we are to assume the Jeweler wanted to show
what they need to pay to replace this watch with a new one ?
It should still be...half the price

Lets have the model Reference number (it is the 4 digit number in the appraisal)
in case we have a diamond of a watch that might worth $70.000...lol...it happens

[05carbondrz]

The Watch could be worth every bit of 15K depending on originality/condition.I would contact Jacek at Hqmilton,He deals only in Vintage.Don’t forget that they are going to want some meat on the bone so don’t expect full market value from a Dealer.

[Doood]

Not my business but agree keep the watch if possible. I think I paid $150 for my first car and like $2000 for my second.

[SeaDweller50]

With your collection it’s obvious you know what you’re up against. I would put it up on eBay for the largest exposure possible, or Chrono24 and sell it privately via a meet up- cash sale.

[cardiel]

Originally Posted by Ra_88

With your collection it’s obvious you know what you’re up against. I would put it up on eBay for the largest exposure possible, or Chrono24 and sell it privately via a meet up- cash sale.

not sure selling on eBay is advisable......too many scammers out there, you need to be wise to their tricks.

[R.O.L.E.X]

Honestly this just seems like a really ill-thought plan. Tell the son to save for a car or buy a far cheaper one.

[Frakis]

Originally Posted by R.O.L.E.X

Honestly this just seems like a really ill-thought plan. Tell the son to save for a car or buy a far cheaper one.

x2

[Toronto Soup King]

All this rests on the true value of the watch on the market IMO, and all we have to go on is OP's perspective plus that appraisal, about which we know nothing more than the figure. Pics!

EDIT not layman!