This Rare Rolex Watch Could Fetch £200,000 At Auction
A miner of Mansfield once owned a rare Rolex timepiece that is today estimated to fetch virtually £200,000 when it goes up for sale. And the watch is none other than a Rolex Submariner Reference 5512.
The Rolex Submariner is one of the most iconic collections of the brand. The prestigious Geneva-based Swiss watchmaker is revered for its avant-garde creations since its inception in 1905. And among its many flagship models, the Submariner perhaps enjoys the most recognition.
The Rolex Submariner not only has a long waiting list at the retail market but also, incredibly coveted among collectors or buyers in the second hand market. Almost all Rolexes retain good value with time that makes them a valuable asset to sell in financial crisis.
If you search over the net “sell Rolex London”, you will find a vast number of watch dealers. And if your watch is the iconic Sub, you can expect to receive a premium for it from potential buyers, especially if it is in excellent condition and retains its original box and papers. Undoubtedly, the Submariner enjoys unparallel fame and rever.
However, the Rolex Submariner Reference 5512 is a legendary model within the brand’s lineup. The watchmaker introduced the timepiece in 1959 to replace its earlier siblings, Submariner Reference 5510 and Reference 6538.
Nevertheless, this Rolex Submariner 5512 is exceptionally unique as it features a scarce Explorer 3-6-9 dial. The interesting fact is the watch that was initially purchased for only £70 is now estimated to fetch £200k at auction.
Continue reading to explore the rare Rolex Submariner Reference 5512 of the Mansfield miner.
The Rare Rolex Submariner 5512 To Be Sold At Auction
The original owner of this watch is known to be a medical attendant who worked at Shirebrook Colliery, Mansfield. He bought the timepiece in 1964 for celebrating his 40th birthday. However, the exciting part is that it cost him only £70 more than 55years back.
Now, the mineworker’s daughter and son-in-law who also reside in Mansfield are selling the rare piece in Wiltshire at the Gardiner Houlgate auction. The event will be held on 21st October, and the Submariner is expected to command a fortune.
So what makes this Rolex Submariner Reference 5512 so unique? Well, Rolex produced these Submariner versions with the Explorer 3-6-9 dial style in the early 1960s for a short term. More significantly, only a few models exist today that retains the original dial.
The fact is that when these watches came to the brand’s factory for servicing, the watchmaker typically replaced the dial with a new one. Thus, spotting a Submariner 5512 with the original dial is pretty challenging and obvious to command a staggering price in the pre-owned market.
The director and auctioneer of Gardiner Houlgate, David Hare, asserted –
“This is the holy grail of vintage watches. There are so few of these left in their original condition that they command very high prices and are sought after by collectors all over the world.”
He further explains why this Rolex Submariner is so valuable.
“This particular watch has a version of the dial that experts call a ‘Crown-62’ variation, which makes it even rarer. When we sold a similar Rolex in 2016, it went for £192,000.”
The anonymous son-in-law of the Mansfield’s original owner also stated –
“We’re still in a state of disbelief about the potential value of this watch. Things like this just don’t happen to us. Having worked all our lives to be able to enjoy retirement, this will give my wife and I the added financial security we’ve dreamt of. I imagine you’d feel like this if you had a big win on the Premium Bonds.”
However, the original owner of this rare Rolex Submariner Reference 5512 was born in London. But during World War II, he shifted to Mansfield to serve in the mines being a part of the Bevin Boys conscription government programme. Later, he worked as a driver of East Midlands buses. And after a while, he rejoined the mines as a medical attendant.
So the owner, who died in 1995, purchased this Rolex Submariner 5512 from a reputed company in London. Moreover, the watch comes with its original box, service booklet and guarantee paper. It is obvious why the auctioneer is expecting the Rolex timepiece to sell for £200,000 at the Gardiner Houlgate auction that will take place the next month.