It is November. That means it is time again for the biggest vintage watch auctions of the year, which are held in Geneva this weekend.

Between the big three auction houses (Antiquorum, Christies and Sothebys) there will be nearly 1400 watches offered for sale.

Yes there are some spectacular examples of blue chip references. A nice double signed Cartier/ Patek 2499 third series. A very rare and original 6200 Submariner Rolex. But collectors who are after these watches surely do not need LME to point why those models are sought after.

Rather we have found 2 watches, which we believe offer good value and might be either overlooked (highly doubtful- this is vintage Rolex after all!) or misunderstood by collectors. Both watches are made by Rolex. The reasons are as follows: 1) We believe some references within vintage Rolex still offer exceptional value 2) Rolex watches are a personal favorite of LME 3) Buying the right watches within vintage Rolex represents a solid collectible /investment.

1. Lot 138/ GMT Master 6542 bakelite bezel

The Ref 6542 is the very first GMT Master made by Rolex in the mid 1950s.

It is very collectible in todays market for the following reasons: 1) It is the first series of the GMT Master by Rolex, which by now has become an Iconic line 2) The first GMT series have no crown guards 3) They made limited numbers 4) examples (like this one) with the original Bakelite Bezel are rare as they were delicate and breakable. This specific example offered by Christies is interesting for the following reasons:

It comes with exceptional paperwork which includes: Rolex guarantee (a rarity in itself), Rolex chronometer certificate, Watch certificate, GMT instruction booklet. Furthermore the watch comes with another spare Bakelite Bezel (which is depending on the condition is alone worth several thousand CHF). While this watch has been worn and the case been polished, the super documentation and service history clearly outweigh this minor negative.

For the original listing please click here. The estimate for this watch is CHF 40-70′ooo.

2. Lot 288 Christies / Rolex 6204 Submariner -1953

The Ref 6204 was one of the first submariners ever made by Rolex along with the 6200.

The 6204 is very rare – being only produced for one year. Although scholars are still unsure which was the very first submariner marketed, the 6204 is the watch that is most often mentioned.

The watch carries no depth rating like the later models (6538, 5512, 5513) but only the word submariner. The watch has a gilt dial, Chapter Ring, no crown guard watch. Because of its extremely limited production (1953-54) and importance in submariner history- the watch is very collectible and a safe bet on retaining/increasing its value. While different dial layouts exist, we find this version particularly attractive with the plain matte black dial (as opposed to honeycomb like with other versions). This watch seems to be in good condition, the only negative we can find is that the plexi glass is scratched and the dial shows some minor spots of aging but these points are so minor they are not even worth mentioning under negatives.

This would be my top pick! Price estimate is CHF 15′ooo – 25′ooo. For the full listing please see here.

by Edmond Saran