Investment or Cultural Legacy? Exploring the World of Vintage Rolex with Specialist Retailer Quark

The popularity of vintage Rolex watches shows no signs of slowing down. If anything, the hunt for truly valuable models has become more intense in recent years.

Why do these old Rolex watches, some produced nearly half a century ago, continue to hold their value and captivate enthusiasts? To find out, we visited Rolex Specialist Quark, a retailer boasting one of Japan's most extensive inventories. Through our conversation with the company's Executive Vice President, Akira Sato, we'll explore the current landscape of vintage Rolex.

The Seeds of a Global Boom Sown in the 1990s

The vintage Rolex boom can be traced back to the 1990s. During that time, European enthusiasts, particularly in Italy, started taking notice of the value of early sports models, including the legendary 'Paul Newman' Daytona.

By the 2000s, information began to circulate through specialized magazines and auction houses, giving the market a more defined shape. In the 2010s, a series of record-breaking auction sales turned the trend into a full-blown global phenomenon.

"Entering the 2020s, the COVID-19 pandemic reinforced the view of 'watches as assets.' Now, however, that speculative frenzy has subsided, and we're seeing a growing number of people who are more focused on appreciating the aesthetic value of vintage pieces."

The Core Buyers: Japan's 'Second Baby Boomer' Generation in Their 40s and 50s

So, who exactly is buying vintage Rolex watches today?

"It's not just the wealthy; we're seeing an increase in customers from Japan's 'second baby boomer' generation, those in their 40s and 50s. This is the generation that admired Rolex in their youth but couldn't afford one. Now that their careers and family lives have stabilized, it seems they've reached a point where they can finally choose a watch for themselves."

For this demographic, a vintage Rolex is both a fashion statement and a practical, everyday item.

"Much like with vintage jeans, cars, or motorcycles, we find that many of these clients enjoy the process of maintaining and using older items.

You can wear a Rolex from the '60s or '70s without a second thought. Few other brands offer such a high level of essential quality and durability."

Rolex is often said to have produced a 'large quantity' of watches compared to other luxury brands. So why don't their values depreciate easily?

"The reasons lie in the scale of production and the brand's core philosophy. By the 1950s through the 1970s, Rolex had already established a mass-production system and was designing its watches as highly durable, practical tools."

As a result, these watches were used daily, repaired, and passed down through generations. While many contemporary brands have since vanished from the market, a significant number of Rolex watches remain in circulation, supporting a robust global market.

"However, pieces with all their original parts intact are surprisingly rare, and that's where the price difference comes from. It's Rolex's policy to replace parts with new ones to prioritize practicality. While that's the correct stance for a manufacturer, it changes the watch's value as a vintage piece."

In other words, the more original a watch is—down to its individual parts—the rarer it becomes, and the more likely it is to hold its value.

The Big Three: Models Driving the Vintage Rolex Boom

So, which models are leading the charge in popularity right now?

"In the market as a whole, the Submariner, GMT-Master, and Daytona remain the core three. There isn't a big difference between overseas and Japan, but a unique feature in Japan is the high popularity of the Explorer."

Among them, the most elusive and difficult-to-obtain models are said to be those from the 1950s.

"Rolex watches from this era were built with a strong focus on practicality. Due to factors like dial quality, they tend to show signs of aging, such as color changes and darkening of the hands. I've noticed that collectors who once sought pristine pieces are now delving deeper, drawn to watches with a more pronounced vintage character."

Furthermore, compared to the 1960s and '70s, there are far fewer watches from the '50s. This rarity directly contributes to their soaring prices.

"It's ironic, but the more meticulously a Rolex has been maintained and cared for, the more likely its parts have been replaced, making it less likely to be in its 'original condition.' On the other hand, a watch that was forgotten and stored away carelessly can sometimes end up being more valuable."

Which vintage Rolexes are good for everyday wear?

The price of a Daytona today is hardly realistic for many people. So, we asked about more accessible models.

"Vintage models like the Oyster Perpetual, Date, Datejust, and Air-King are still relatively affordable. This is because they are more common and not as sought-after as the sports models. However, I find that many of them are still of a quality that is more than satisfactory.

In terms of era, I've found that many pieces from the 1970s tend to be in great condition. However, it's important to check the plastic crystal, as it can warp over time and compromise the watch's water resistance."

Regular overhauls are crucial for long-term use. Many vintage Rolex watches use a 'low-beat' movement with a lower oscillation frequency. The balance wheel in this movement oscillates more slowly, which reduces wear on the components and makes it less susceptible to issues from lubricant degradation.

"As a result, vintage Rolexes are less prone to problems from drying lubricants, and it's not unusual for them to run for 10 or even 20 years without issue. In fact, models from the 1990s onward are more likely to stop for this reason. Still, if you want your watch to last, regular overhauls are a must."

The Rolex specialty store Quark's in-house repair division carefully maintains each watch, performing disassembly, cleaning, adjustments, and water-resistance tests in a way that preserves its unique charm and value. For especially rare vintage models, they go to great lengths to maximize the watch's value, from making careful judgments about replacing internal or external parts to finely tuning the degree of polishing. The question of their value as an asset is also a hot topic.

"There are cases where the price doesn't drop after 5 or 10 years of use, or where you can even sell it for more than the purchase price. However, right now, it's difficult to make a profit from short-term flipping unless you have a truly expert eye for appraisal.

In most cases, the value builds slowly over five to ten-year cycles, with peaks and troughs. I believe you'll enjoy the world of Rolex much more if you approach it as a piece of art or culture, rather than just an asset."

The Value of Legacy: Why Younger Generations are Embracing Rolex

Sato continues, discussing the recent rise in Rolex fans among people in their 20s and 30s.

"Unlike smartwatches, a mechanical watch can last a lifetime with proper maintenance and repairs. It's a way to pass on watchmaking culture without wasting resources. I'm thrilled to see a growing number of young people appreciating this value."

More than just an investment, a vintage Rolex embodies the sustainable ethos of 'cherishing one item and using it for a long time.' What lies at the heart of this trend is not mere consumption, but the inheritance of culture.