In a striking revelation, the combined market value of all Rolex Submariner watches ever made approaches an astonishing $50 billion. This figure arises from an in-depth analysis of the first-ever production data released by the iconic Swiss watchmaker, Rolex. Such a remarkable valuation not only underscores the enduring allure of this luxury brand but also highlights the significance of the Submariner models in the luxury watch sector.
According to a company-authorized book titled Submariner: The Watch that Unlocked the Deep, approximately 4 million Submariner and Sea Dweller diving watches have been produced since the model’s inception in 1953. A recent estimate from Subdial, a UK-based second-hand trading platform, places the current worth of these timepieces around $46 billion. Incorporating Submariners manufactured after 2020 could push this valuation closer to $50 billion, reflecting a significant appreciation in value over time.
What makes these numbers striking is the intrinsic value retention of Rolex timepieces. In an age where many luxury products lose value post-purchase, Rolex maintains a unique position. Many Submariner models currently fetch prices above their original retail value in the secondary market, despite Rolex producing over a million watches per year. Collector interest remains high, and certain models are increasingly seen as investment-grade timepieces.
The Submariner itself has transitioned from a specialized diving watch to a status symbol often seen on the wrists of powerful figures from Wall Street to London. The current design’s roots trace back to the original 1953 model, which was engineered specifically for deep-sea divers, balancing functionality with a refined aesthetic.
For many, the Submariner embodies what Rolex stands for. Eric Wind, a prominent vintage watch dealer and former employee of auction house Christie’s, articulated this sentiment, stating, “When I close my eyes and think of Rolex, the watch that appears in my mind’s eye is the Submariner.” This highlights the model’s significance not merely as a watch but as a cultural icon that transcends its practical applications.
Rare variants of the Submariner, such as the collector-favored “The Hulk” model—featuring a vibrant green dial and bezel—demonstrate a remarkable ability to appreciate in value. During the pre-owned luxury watch frenzy of 2022, the value of this model temporarily surpassed more commonly produced variants, a testament to the rarity’s desirability among collectors.
It is essential to acknowledge, however, that the estimate of a $46 billion total market value assumes that nearly all of the four million produced timepieces remain intact and functional. In reality, many of these watches have inevitably been lost, discarded, or rendered non-operational over the years. Despite this caveat, the sheer potential value of Rolex’s Submariners continues to astonish.
Christy Davis, co-founder of Subdial, remarked on the significance of this valuation, saying, “The mind boggles to think what $46 billion of Submariners means.” He further emphasize Rolex’s business model, indicating that it operates effectively as a cash cow without diminishing the brand’s mystique and allure.
Rolex commands a significant share of the secondary market for luxury watches, which is anticipated to reach a staggering $35 billion annually by the year 2030, according to Deloitte. A recent report highlighted that of the watches tracked by the Bloomberg Subdial Watch Index, 45 out of the top 50 most-traded models by value are Rolex. The index did experience a slight decline of 0.6 percent in October, driven by decreasing prices for Rolex and Audemars Piguet, despite Patek Philippe gaining traction.
Although Rolex has recently initiated its certified pre-owned program to capitalize on the second-hand market, it still confines its inventory availability. According to industry experts, only around 1 percent of all its watches produced are available for sale at any given time. This limited availability helps maintain high demand and value among collectors, despite growing interest in alternative models such as the Daytona chronograph.
For many collectors and enthusiasts, the Submariner remains the quintessential luxury watch. Eric Wind summarised this point succinctly, stating, “It’s the watch so many people choose to buy with their first bonus check.” This highlights its role as not just a luxury item but a rite of passage and personal achievement.
The Rolex Submariner’s impressive valuation encapsulates the essence of luxury watchmaking and its role as an enduring symbol of success, investment, and status. As trends in personal horology evolve, the lasting legacy of Rolex’s Submariner is poised to remain strong, reflecting both historical significance and contemporary desirability.
