A recent study from Switzerland reported that “luxury watches not only saw less market volatility than real estate, stocks, and ‘fixed income’ or bonds when examining various indices that track the performance of those assets between January 2019 and September 2024,” i.e. over the last six years. Not only that, they can actually offer more impressive returns vs. traditional assets; and unsurprisingly, the best investment watches of all are those from Rolex, which showed an astonishing return of more than 50% from 2022–24.
We would go even further and suggest that the rarest vintage Rolex watch models represent an even better investment due to their exclusivity, scarcity and desirability. Once only properly valued by a small cadre of collectors, “the market for vintage Rolex watches has increased exponentially in recent years,” Paul Altieri, founder and CEO of Bob’s Watches and one of the world’s top Rolex collectors, tells us. “Part of the reason is that watch collecting in general has gotten more attention from the mainstream media; while celebrities like Mark Zuckerberg and Jay-Z have been showing off vintage Rolexes from their personal collections worth a small fortune.”
So how to get started on the path to Rolex riches? Forget fancy seven-figure diamond-studded watches for now, and focus on some rare-dial variants that aren’t all that astronomically priced—yet. We add the caveat because over time, “these watches will surely increase in value even more than their counterparts, even of the same reference, which may look very similar to the untrained eye,” Altieri says. Here are five rare and iconic Rolex dials that deserve a spot in any serious collector’s safe:
1. Rolex Submariner “Tiffany Dial”
What distinguishes this 1970s Submariner from other Ref. 1680 models? It was sold by the legendary jewelry store Tiffany & Co. of New York City, and bears the retailer’s famous logo stamped on the dial above the SUBMARINER legend. Price approx. $39,000.
2. Rolex Daytona “Big Red”
“Paul Newman” Daytonas may now be out of most collectors’ price range, but the rare “Big Red” examples of the Ref. 6263 from the 1970s can still be had for less than six figures. The nickname refers to the fact that the DAYTONA legend is in red, a novelty at the time and a rarity now. Price approx. $97,000.
3. Rolex Day-Date “Onyx Dial”
On the more affordable, but no less desirable, end of the spectrum, the “Onyx Dial” Day-Date Ref. 18238 models in solid gold from the late ’80s and early ’90s are highly prized by collectors thanks to their unique solid-black dials without any markings or numerals. Price approx. $42,000.
4. Rolex Explorer “Steve McQueen”
An enthusiasts’ piece, the Ref. 1655 Explorer II’s from the 1970s with orange hands earning them the “Steve McQueen” moniker—though it’s not clear the actor ever actually wore one—represent a real value proposition compared to other icons of the era. Price approx. $25,000.
5. Rolex GMT-Master “Qurayash Hawk”
In the 1970s the UAE ordered a series of GMT-Master Ref. 1675’s with custom-made dials featuring the national coat of arms, aka the “Qurayash Hawk”. This particular example, recently auctioned by Sotheby’s, was gifted to a Royal Navy diver who had spent a lot of time in the Middle East and also fitted it with a custom bracelet. Sold for approx. $33,000.