The affordable vintage Rolex options you need to know
It’s a pretty common question: What’s the best in affordable vintage Rolex? Sure, six-figure Daytonas and Submariners grab all the headlines, but most of us just want to get our hands on any Rolex, much less some of the most desirable references around. And with authorized dealers often having limited stock of some of the more in-demand models, that means turning towards pre-owned or vintage Rolex as an alternative.
Modern, entry-level Rolex starts at $5,400 with the 36mm Oyster Perpetual (and $5,700 for the 39mm version), so we’ll use that as our baseline to define what “affordable” means. Luckily, vintage Rolex can often be found at a fraction of that price. One of Rolex’s strengths as a brand is its offerings at both the extremely high and low end of the market. From vintage six- and seven-figure Paul Newman Daytonas to $1,000 Oyster Perpetuals, there’s something for almost everyone.
I also gave a Primer on Transitional Rolex recently. Many of these models are affordable, and slightly more modern, thus making them easier to find around the internet. It’s a great companion piece to this article as you search for your next (or first) great vintage Rolex.
Rolex Submariner Reference 5513
Rolex Submariner Ref 5513 ‘Maxi Dial’ | Amsterdam Vintage Watches
Let’s start with perhaps the icon of Rolex’s collection, the Submariner. Sure, a modern Reference 114060 no-date Submariner will only set you back $7,500, but good luck finding one at MSRP. So, buyers are increasingly looking towards vintage to pick up a Submariner. After all, the design has changed little over the past 60 years; why change what’s nearly perfect already? For the most affordable vintage Submariner option, look to the Reference 5513 Submariner. In production from 1962 until 1989, there are plenty of examples on the secondary market. And having such a long production date, you’ll learn a lot about vintage Rolex by diving into the Ref. 5513.
The earliest Ref. 5513 models, produced until the mid 1960s, feature gilt glossy dials. Then, the 5513 transitions to matte dials throughout the 1970s. Finally, the last generation of Ref. 5513, from the early 1980s until its production run ended, feature modern glossy dials with white gold surrounds on the indices. The evolution of the Ref. 5513 is a microcosm of the evolution of Rolex over the same 30+ year period, and there’s something for everyone in the lineup. In the earliest (read: most expensive) examples, you can find glossy gilt dials with a 3-6-9 Explorer dial layout; later examples can be found with Bart Simpson coronets (these don’t fall into the “affordable” category of the Ref. 5513, though). There are even MilSubs! And the 1980s generation of the Ref. 5513 is a nearly modern watch: white gold surrounds on indices, sapphire crystal, upgraded movement.
If you’re looking for the “affordable” version of the Ref. 5513, look no further than matte dial variants from the middle years of the reference’s manufacturing run. They’re relatively available on the market, and while you’ll probably pay five figures, a matte dial Submariner probably isn’t going to lose value any time soon.
For more on vintage Submariners, read our guide What You Need to Know Before Buying Your First Vintage Submariner.
Rolex Oysterdate Reference 6694
This simple Oysterdate (along with the Oyster Perpetual below), pretty much inspired this entire post. To me, this is the entry-level Rolex. Introduced in the 1960s and measuring just 34mm in diameter, it’s simple, understated minimalism. Manufactured until the 1980s, a plethora of examples can be found on the secondary market with stainless steel or gold cases. Because they’re so plentiful, you should take some time to find a nice, clean example. Most available with an elegant, silver sunburst dial, examples can also be found with black or deep blue dials.
Though marketed to men in the 1960s and 1970s, the Ref. 6694 today makes a great unisex, women’s or men’s watch (think of it as an alternative, for example, to that Nomos you’ve been eyeing). Minimalist, elegant, and subtle, it’s the perfect Rolex for someone who’s not a “Rolex person”.
What’s really interesting about this reference is that it’s manually wound. In an era of Oyster Perpetuals and sports watches, the simple, manual-wind caliber 1225 kept on ticking inside the Ref. 6694. It beats at 21,600 bph, and, befitting its “entry-level” status, doesn’t have a quickset date. Additionally, the movement is not chronometer certified. But, it’s still an “Oyster”, and rated to 100m of water resistance, featuring a screw-down crown. It’s fair to worry about the wear-and-tear of popping out a screw-down crown daily to wind this watch, but rest assured that the solid construction that gave Rolex its reputation are also present in this watch.
A standard, silver-dial Reference 6694 can be had for around $2,500 on the secondary market; expect to pay less on forums, more from dealers. Even if you’re not traditionally a fan of bracelets, spring the extra couple hundred dollars to get an example with a Rolex bracelet. The Ref. 6694 features drilled lugs, making it easier to swap straps. You might even end up liking the vintage Oyster bracelets; they’re rattly, comfortable, and beautiful.
Rolex Oyster Perpetual Reference 1002
Rolex Oyster Perpetual Reference 1002 | Catawiki
Similar in appearance to the Reference Oysterdate Ref. 6694, the Rolex Oyster Perpetual Reference 1002 strips out the date window to arrive at the most simple three-hand watch a luxury brand like Rolex can imagine. Manufactured from the late 1950s through the 1960s, examples abound throughout the secondary market.
What the Ref 6694’s simple manual-wind caliber arguable lacks, the Reference 1002 does not. Inside ticks the caliber 1560 automatic movement (later examples feature the 1570 movement), running at 18,00 bph. It’s a chronometer-certified movement, with the signature text at 6 o’clock indicating as much. This is the movement that powered more popular sports watches of the same era, making this a true value proposition at the “entry level” of vintage Rolex.
Like the Ref. 6694, the Ref. 1002 measures 34mm in diameter, features baton indices topped with small tritium lume plots, and has an Oyster case and screw-down crown. The most common example is a simple silver sunburst dial, though any number of variations can be found: linen, slate grey, “underline”, Tiffany-stamped, blue, black, and more. Poke around the internet and you’
Again, expect to pay around $2,500 for an Oyster Perpetual Ref. 1002. The same notes as for the Ref. 6694 apply: spring for the bracelet, and you can probably find box and papers at only a slight premium, due to the numerous examples on the market.
Rolex Air-King Reference 5500
If you follow Rescapement at all, you had to know this one was coming. Having spilled too much ink writing about the history of the Air-King, and specifically the Reference 5500, it’s starting to feel something like a website mascot.
The Air-King was actually the first professional watch introduced by Rolex back in 1945, and has remained a mainstay in the brand’s collection almost ever since. The first Air-King was the Reference 4925, introduced in 1945. But our favorite “affordable” vintage Air-King is the Reference 5500, which remained in production for more than 30 years, making it one of the longest-running references in the brand’s history.
The 34mm Air-King has an aesthetic similar to the simple, elegant Oysterdate and Oyster Perpetual above, but with its “professional” lineage, has an added layer of history that any enthusiast will appreciate. While the Ref. 5500 Air-King may not drive the passion of collectors like some more popular Rolex models, there is still plenty here for a budding enthusiast to sink his or her teeth into. And, since the Air-King continues to fly under the radar, even the most rare of Air-Kings can typically be had at an affordable price. For more on the Air-King, read our in-depth articles linked above.
Expect to pay a similar price — or perhaps a slight premium — for an Air-King Ref. 5500 as compared to the Ref. 6694 and Ref. 1002.
Rolex Datejust Reference 1601, 1603
Rolex Datejust Reference 1601 | Hodinkee Shop
Are the three smooth-bezel above vintage examples not doing it for you? Then look no further than a 16xx series Datejust to satisfy your fluted infatuation. While the Datejust Reference 1600 has a smooth bezel, the 1601 and 1603 have a fluted or engine-turned bezel, respectively, giving the watch a bit more of that characteristic Rolex flash.
Rolex Datejust Reference 1603 | Hodinkee Shop
The Reference 1601 features a stainless steel case and luxurious white gold fluted bezel, while the Reference 1603 features a stainless steel engine-turned bezel. Both add a bit of character as compared to the above examples, while the stainless steel case means they’re still subtle enough to fit into any situation. Rolex produced the 16xx series of Datejusts throughout the 1960s and 1970s, and the models feature the hallmark characteristics of other Rolexes during the time: acrylic crystal, drilled lugs, Oyster or Jubilee bracelet, and the caliber 1560 or 1570 with a non-quickset date that’s chronometer certified. In short, it’s one of the most classic Rolex models you can find, and it doesn’t cost a fortune. Rolex was selling these things en masse throughout the middle of the century, and these models are part of the foundation that made the brand what it is today.
Like the Reference 1002, the most common examples found feature silver dials, though interesting dial variants can be found. For example, sigma dial variants from certain periods indicate the use of gold for the dials indices. The 16xx series Datejusts were replaced with the 160xx series in the late 1970s, equipping the Datejust with a more modern caliber 3035 with a quickset date, but otherwise maintaining much of the classic Datejust aesthetic.
Like the other examples on this list, the Reference 1601 and 1603 are examples that are widely available on the secondary market, but aren’t likely to lose much value any time soon. While slightly more expensive than the above examples, you’re getting more watch here: 36mm diameter (as compared to the 34mm seen above), robust chronometer-certified caliber with date function, and a slightly more luxurious and classic Rolex aesthetic. Please, just don’t buy from a “dealer” that’s going to overcharge you for what in reality is an easily found vintage Rolex.
Rolex Oyster Perpetual Reference 1018
The problem with a few of the examples above comes down to one word: size. The 6694, 1002, and 5500 all measure a compact 34mm in diameter, a couple millimeters short of what’s considered a “typical” size nowadays.
Luckily, That’s what sets the Reference 1018 apart.
To wit, the specs of the 1018: 36mm case diameter, 20mm lug width, and 11.5mm thick. The 1018 has about the same specs as its cousin, the Explorer Reference 1016, though the case has a slightly slimmer profile.
There isn’t a lot of information about the Reference 1018 on the internet, but it looks as though it was produced for just a few years in the mid to late 1960s. Every example I’ve seen has a serial number dating it to this range. Our best guess is that the watch just wasn’t very popular.
Whatever the case, for today’s collector it’s sufficient to know that this is a chronometer-certified, 36mm Rolex made for just a few years. This makes it extremely rare and collectible by any standards.
The Reference 1018 can be found with both the caliber 1560 and the 1570. The 1560 was an in-house movement introduced by Rolex in 1959 and remained in use until 1965, when Rolex transitioned to the caliber 1570. The main improvements of the 1570 were a slightly faster beat rate (19,800 bph, as compared to the 1560’s 18,000), and hacking seconds. The caliber 1570 would go on to power Explorers, Submariners, and Oyster Perpetuals until the 1980s.
Like the more common 34mm watches above, you’ll mostly find the Reference 1018 with a silver dial and baton hands, though are also earlier versions (c. 1963-64), that feature sword hands with a line of lume down the middle. Additionally, you’ll also find the rare variant with a black dial. If you’re lucky, it might be an early, glossy gilt black dial (for example, here). Some later examples can also be found with a slate grey dial (ignore the service hands/lume on that example). I’ve also seen a couple Tiffany & Co. stamped Reference 1018 examples; these seem to be extremely rare.
In other words, if you want a chronometer-certified movement in a 36mm case, the reference 1018 might be your best (i.e., most affordable) bet. But, they continue to fly mostly under the radar in most collecting circles. It’s a classic case of “if you know, you know.” Due to their rarity, expect a Reference 1018 to cost nearly double what a Reference 1002 might cost.
For more on the Rolex Oyster Perpetual Reference 1018, read our in-depth article.
Appendix: Tudor
Not in love with any of the “affordable” Rolex models above? It might be time to check out Tudor. Owned by the same Hans Wilsdorf Foundation as Rolex and designed to be more accessible, vintage Tudor offers a variety of affordable options. The cases, bracelets and crowns are all made right beside Rolex components; Tudor simply cut costs by putting cheaper, off-the-shelf ETA movements in their products. With Tudor, you get solid Rolex construction, a similar design aesthetic (though sometimes Tudor was a bit experimental and weird), at a lower cost than Rolex. But, vintage Tudor also continues to rise in value.
