Not only is there no sign that prices are cooling for Rolex’s steel Submariner and Daytona tool watches, the phenomenon appears to be spreading to other models.
Fellows Auctioneers has reported that a Rolex Explorer with a pre-sale estimate of £4,800 to £5,500 has sold for £25,000 (£31,900 including fees).
The stainless steel Oyster Perpetual Explorer, reference 6150, is an early example from 1954, and was sold to an online bidder in working order and good condition, according to Fellows.
Steven Yambo, Senior Watch Specialist at Fellows, says: “This Explorer is an incredibly early model with a lovely aged dial, so it isn’t a surprise that it sold for this amount. There was a lot of interest in the room and on the telephones which we were very happy with.
“The sale of this watch rounds up another successful Watch Sale at Fellows, and we are already planning for our next auction in September.”
Modern day Explorer watches are also rising in value on the secondary market. A 2017 Explorer reference 214270 with a retail price today of £5000 is being offered by Watchfinder today for over £6,000 while models from the 1960s (pictured below) are being offered for £14,750.