Some help with a Rolex 1665

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Dirt Dart
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Some help with a Rolex 1665

Post by Dirt Dart » Sun Jul 24, 2016 2:49 pm

I'm a bit out of my league with this one.

I was approached through a friend regarding any interest on my part to acquire this watch. I have an interest, but I really have no idea what to offer the man who owns it.

It is a reference 1665. The case reference is properly engraved, and the serial number is properly engraved (5,017,XXX) dating the watch to 1977. This is consistent with what I would expect and is the last year of production for the 1665.

The man who owns it is an oil field worker, and up until six or seven years ago, wore it daily. (Not a bad testament to the robust nature of the 1560 movement.)

My watchmaker has serviced this watch from the first time the case was opened about 15 years ago, until present. So I know most every thing there is to know about it's service history (within reason). The "crystal" was replaced, along with some seals, about seven years ago. It has seen significant wear however.

So maybe one of you fellows that has done a lot of research into these might be able to offer me an opinion on what I should reasonably pay for it. Or any other observations for that matter.

Sorry for the bad photos. It was all I had time for.

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-Mark

"C'est la vie", say the old folks, it goes to show you never can tell. (Chuck Berry)

http://www.timepiecemagazine.com/

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JDC222
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Re: Some help with a Rolex 1665

Post by JDC222 » Sun Jul 24, 2016 2:53 pm

Whisky has killed more men than bullets, but most men would rather be full of whisky than bullets.
Winston Churchill.

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andrema
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Re: Some help with a Rolex 1665

Post by andrema » Sun Jul 24, 2016 2:58 pm

What is he offering it to you for? Leave it to him to suggest a price


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foodle
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Re: Some help with a Rolex 1665

Post by foodle » Sun Jul 24, 2016 3:15 pm

Uh, yeah, a double red 1665 ... :think:

Look at sites like http://www.hqmilton.com to see other samples and what they are selling for. Short answer is "a lot".

Also look at http://www.drsd.com
Last edited by foodle on Sun Jul 24, 2016 3:27 pm, edited 1 time in total.

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YOHOHO
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Re: Some help with a Rolex 1665

Post by YOHOHO » Sun Jul 24, 2016 3:21 pm

oh man...I know nothing, other than the fact that I like it! Hope it works out well for you and the current owner. good luck

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JP Chestnut
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Re: Some help with a Rolex 1665

Post by JP Chestnut » Sun Jul 24, 2016 3:34 pm

foodle wrote:Uh, yeah, a double red 1665 ... :think:

Look at sites like http://www.hqmilton.com to see other samples and what they are selling for. Short answer is "a lot".

Also look at http://www.drsd.com
HQ isn't a very good reference for p2p sales.

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Re: Some help with a Rolex 1665

Post by toxicavenger » Sun Jul 24, 2016 6:17 pm

JP Chestnut wrote:
foodle wrote:Uh, yeah, a double red 1665 ... :think:

Look at sites like http://www.hqmilton.com to see other samples and what they are selling for. Short answer is "a lot".

Also look at http://www.drsd.com
HQ isn't a very good reference for p2p sales.
yeah that dude has some dream prices on that site

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Re: Some help with a Rolex 1665

Post by River Rat » Sun Jul 24, 2016 6:18 pm

Looks like a nice find. I don't know what these sell for but hope you get a fair price if you ad it to your collection.

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Re: Some help with a Rolex 1665

Post by hoppyjr » Sun Jul 24, 2016 6:22 pm

Pay as little as possible, then sell it an make a small fortune. No mystery here ;)

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Re: Some help with a Rolex 1665

Post by dshap » Sun Jul 24, 2016 6:24 pm

Do you want to offer him what's it's really worth? If you offered him 10k you'd be robbing him, but he might be awfully happy if he doesn't realize what he has.

Need more pics to see if the dial has any wear to it, but I can see the bezel is extremely worn down and I'm assuming the case also had a good amount of wear. I'd probably offer to pay somewhere around $15k.
-David

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Re: Some help with a Rolex 1665

Post by JP Chestnut » Sun Jul 24, 2016 6:47 pm

toxicavenger wrote:
JP Chestnut wrote:
foodle wrote:Uh, yeah, a double red 1665 ... :think:

Look at sites like http://www.hqmilton.com to see other samples and what they are selling for. Short answer is "a lot".

Also look at http://www.drsd.com
HQ isn't a very good reference for p2p sales.
yeah that dude has some dream prices on that site
And buyers who seem to pay it. Some of the watches are insteresting, with some additional story, so it's not like they're a rip off. Just not the watches for me.

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Re: Some help with a Rolex 1665

Post by BBK357 » Sun Jul 24, 2016 6:49 pm

Grail watch.

Shap is right about bezel. It's almost toothless. Sure thing that there is case wear as well.

That dial and hands.... Perfect.

:whip:
DEATH FROM ABOVE
:ak:

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foodle
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Re: Some help with a Rolex 1665

Post by foodle » Sun Jul 24, 2016 7:20 pm

JP Chestnut wrote:
toxicavenger wrote:
JP Chestnut wrote:
foodle wrote:Uh, yeah, a double red 1665 ... :think:

Look at sites like http://www.hqmilton.com to see other samples and what they are selling for. Short answer is "a lot".

Also look at http://www.drsd.com
HQ isn't a very good reference for p2p sales.
yeah that dude has some dream prices on that site
And buyers who seem to pay it. Some of the watches are insteresting, with some additional story, so it's not like they're a rip off. Just not the watches for me.
:scratch: Soooo, if the market will pay the price, what makes the prices unrealistic?

Sure, the one with tons of military history was going for astronomical prices, but it's hard to decide where to set the price of some of these "one of a kind" watches.

Pricing of these rare sought-after pieces is very tricky. Timing is important, as prices seem to be shooting up. OP can look at recent sales from various places to see what the price range is.

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Re: Some help with a Rolex 1665

Post by Dirt Dart » Sun Jul 24, 2016 7:59 pm

Thanks for the input everyone.
-Mark

"C'est la vie", say the old folks, it goes to show you never can tell. (Chuck Berry)

http://www.timepiecemagazine.com/

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Re: Some help with a Rolex 1665

Post by Dirt Dart » Sun Jul 24, 2016 8:03 pm

Mark IV dial?
-Mark

"C'est la vie", say the old folks, it goes to show you never can tell. (Chuck Berry)

http://www.timepiecemagazine.com/

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Re: Some help with a Rolex 1665

Post by Dirt Dart » Sun Jul 24, 2016 8:08 pm

dshap wrote:Do you want to offer him what's it's really worth? If you offered him 10k you'd be robbing him, but he might be awfully happy if he doesn't realize what he has.

Need more pics to see if the dial has any wear to it, but I can see the bezel is extremely worn down and I'm assuming the case also had a good amount of wear. I'd probably offer to pay somewhere around $15k.
That seems correct, as near as I can determine. Your observations are pretty much on. My problem is documenting the provenance. I will let you know if I can answer all the questions.
-Mark

"C'est la vie", say the old folks, it goes to show you never can tell. (Chuck Berry)

http://www.timepiecemagazine.com/

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Re: Some help with a Rolex 1665

Post by dukerules » Mon Jul 25, 2016 3:11 am

I think with that provenance and that dial, someone would pay $20K easily.

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JP Chestnut
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Re: Some help with a Rolex 1665

Post by JP Chestnut » Mon Jul 25, 2016 4:42 am

foodle wrote:
JP Chestnut wrote:
toxicavenger wrote:
JP Chestnut wrote:
foodle wrote:Uh, yeah, a double red 1665 ... :think:

Look at sites like http://www.hqmilton.com to see other samples and what they are selling for. Short answer is "a lot".

Also look at http://www.drsd.com
HQ isn't a very good reference for p2p sales.
yeah that dude has some dream prices on that site
And buyers who seem to pay it. Some of the watches are insteresting, with some additional story, so it's not like they're a rip off. Just not the watches for me.
:scratch: Soooo, if the market will pay the price, what makes the prices unrealistic?

Sure, the one with tons of military history was going for astronomical prices, but it's hard to decide where to set the price of some of these "one of a kind" watches.

Pricing of these rare sought-after pieces is very tricky. Timing is important, as prices seem to be shooting up. OP can look at recent sales from various places to see what the price range is.
Their market might pay it - would yours? Just as I said. Theirs prices aren't a good indication of P2P sales. They're a dealer.

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foodle
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Re: Some help with a Rolex 1665

Post by foodle » Mon Jul 25, 2016 5:31 am

JP Chestnut wrote:
foodle wrote:
JP Chestnut wrote:
toxicavenger wrote:
JP Chestnut wrote:
foodle wrote:Uh, yeah, a double red 1665 ... :think:

Look at sites like http://www.hqmilton.com to see other samples and what they are selling for. Short answer is "a lot".

Also look at http://www.drsd.com
HQ isn't a very good reference for p2p sales.
yeah that dude has some dream prices on that site
And buyers who seem to pay it. Some of the watches are insteresting, with some additional story, so it's not like they're a rip off. Just not the watches for me.
:scratch: Soooo, if the market will pay the price, what makes the prices unrealistic?

Sure, the one with tons of military history was going for astronomical prices, but it's hard to decide where to set the price of some of these "one of a kind" watches.

Pricing of these rare sought-after pieces is very tricky. Timing is important, as prices seem to be shooting up. OP can look at recent sales from various places to see what the price range is.
Their market might pay it - would yours? Just as I said. Theirs prices aren't a good indication of P2P sales. They're a dealer.
Well, I've bought from Jacek before, so "yes" I would pay their prices. :shrug:

Yes, they're a dealer and they do charge a premium over person-to-person sales. For the buyer this is for a sense of safety/security/authenticity for buying from a well known dealer. But usually their prices are pretty reasonable, with ~10% premium over what a p2p sale would be. Very reasonable compared to other dealers (e.g., Govberg). Sure, their asking price of $100k for that one double red 1665 was nuts, but again it's hard to nail down what the price of one of these rare pieces with tons of history. There's one DR 1665 on there now for under $30k, which is not outrageous given today's market.

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JP Chestnut
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Re: Some help with a Rolex 1665

Post by JP Chestnut » Mon Jul 25, 2016 6:27 am

So there's no disagreement? They price higher than a private seller and aren't a great reference for a private party - unless you discount appropriately

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Re: Some help with a Rolex 1665

Post by foodle » Mon Jul 25, 2016 12:47 pm

JP Chestnut wrote:So there's no disagreement? They price higher than a private seller and aren't a great reference for a private party - unless you discount appropriately
I still think it's useful for a person without a background in pricing sought-after vintage Rolex to see what they are going for. Yes, there will be some delta between what Jacek can sell it for and what a person can privately, but I don't think the difference is that much. Jacek's prices are usually pretty reflective of what the market will pay (even if they seem outrageous to us longterm collectors).

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Re: Some help with a Rolex 1665

Post by andrema » Mon Jul 25, 2016 5:20 pm

If the dude is looking for an easy sale...there should be a curtesy discount for a hassle free deal. If not, go pound sand


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Re: Some help with a Rolex 1665

Post by ncstate1201 » Thu Jul 28, 2016 7:19 pm

I think let him start the bidding and what would make him happy. I like a deal like the rest of them but if you hose this guy by thousands of dollars you may end up with at least one less friend. I think you mentioned you were approached by a friend.... sorry but when dealing with a friend or someone through a friend I think it is best to be as up front as possible.

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Re: Some help with a Rolex 1665

Post by DON » Mon Aug 01, 2016 1:32 pm

Couple sold on Ebay for around $26000, but close to complete and in very nice condition.

This one was used quite hard and it shows it. Story or not. It's all about condition. Stories only count if worn by someone well known that adds some weight to the value.

I don't have a clue what it's worth,but compare it's condition to the sold Ebay models and figure out what the value is based on that to you.

If half the condition. Offer half what an Ebay model sold for. Discuss the values with the seller and reason behind your offer. If he refuses. Don't keep upping the price or he'll know he has you by the short hairs and you'll overpay.

Make your offer and that's it. If he refuses. Walk away. Buy another used other sub model for less

DON

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