Rolex GMT-Master watches are designed for pilots and regular travelers. The Rolex GMT-Master was established in the 1950s to allow pilots and crew members to simultaneously reference two separate time zones.
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Rolex GMT-Master Price in KSA
Due to rising demand, the secondary market price of Rolex GMT watches in Saudi Arabia has risen dramatically in the last several years. It’s especially true for stainless steel models, which are currently among the most highly sought after in the world, with used models often changing hands for substantially more than their brand-new retail pricing on the secondary market.
There are waitlists spanning many years for the 2021 editions of this classic pilot’s watch, which is currently sold out at boutiques all over the world. As a result, the open market has experienced a tremendous surge in price for these items, similar to what has happened with antique or discontinued models that are no longer available from retail sources such as boutiques or stores.
If you’re looking for a historic, discontinued, or current-production stainless steel piece, expect to pay anything from 37,500 Saudi Riyals to 82,500 SAR on the secondary market. Platinum & other precious metals can bring up to 131,000 SAR in price, and substantially more for the diamond and precious gemstone versions.
KSA Prices Soaring on Second-Hand Market
The limited supply of watches from Rolex combined with increasing demand has led to soaring prices across the secondary markets both in Saudi Arabia and the World. Let’s take a look at 4 popular collectors models and their pricing in 2018 and today.
The caliber 1036 is found in the earliest GMT-Masters, which are identified by the reference number 6542. These watches are extremely hard to come by, which drives up their price. Condition, history, and additional features all factor into the price. Prices range from 108,784 Saudi Riyals to 450,000 SAR. Only a few years ago, such prices were unimaginable for this particular reference.
The 1675, which replaced it, was produced for only about 20 years and is therefore much easier to come by. The Rolex caliber 1565 drives this watch, which beats out 18,000 vibrations per hour (vph). The cost of this timepiece has risen dramatically in the last few years as well. In today’s market, a pre-owned 1675 costs around 69,390 SAR, while a mint-condition model can fetch upwards of 131,000 SAR. To put that into perspective, in 2018 the average price for this particular reference was only 52,500 SAR
The Rolex 16750 was produced from 1979 to 1988. The caliber 3075 is what gives it its power. This caliber, in contrast to the previous one, oscillates at the now-standard speed of 28,800 vph. Also, the case’s water resistance was increased from 50 meters to 100 meters, making it the first GMT-Master that could be worn while swimming. A ref. 16750 in excellent condition will run you about 63,770 Riyals. Watches in excellent condition sell for about 54,400 SAR on the resale market. The same watch, in excellent condition, cost around 43,100 SAR in 2018.
Rolex made the switch to scratch-resistant sapphire crystal for the GMT-Master ref. 16700 in this model. This model, like its predecessor, is water-resistant up to a depth of 100 meters (10 bar, 328 ft). Both a Pepsi bezel and a solid black bezel are options. The luminous material SuperLuminova, which replaced the use of tritium in the most recent editions, is now used in the indices. The movement inside the watch is a slightly reworked version of the caliber 3175.
This model’s price is also soaring. In the last two years, the price of a well-maintained piece has doubled, to at least 61,800 SAR. As a result, the value of entry-level models with visible wear has increased from 31,130 SAR in 2018 to approximately 43,000 SAR in 2020.
Investing in a Rolex GMT-Master
While Rolex prices in KSA in 2021 are far higher than just a few years ago, it may still be an ideal time to buy a Rolex, with the supply issues for Rolex Watches, in general, showing no sign of being resolved anytime soon. And demand for the GMT-Master models rising rapidly, it’s likely the price will be even higher in 2022 and beyond.
Popular GMT-Master Models in 2021
The ref. 6542 “Pussy Galore” is the very first GMT-Master, and it’s also the most coveted. The ref. 6542, which bears the character’s name in the James Bond films, is often regarded as the pinnacle of vintage GMT watches. In spite of its high price, the model is nevertheless enjoyable to admire and look for on the secondary market. The ref. 1675, on the other hand, is likely to be more popular because it will satisfy any collector’s craving for a classic GMT-Master without costing as much. It’s not difficult to locate pre-owned items in various states of repair and with a wide range of design options.
With its traditional style and higher-beat cal. 3075 movement, which includes hacking and a Quickset function, the GMT-Master 16570 replaced the ref. 1675 in the 1980s and is also popular among watch enthusiasts today. The ref. 16700, the final model in the GMT-Master series before it was discontinued and replaced by the GMT-Master II, is still in production today. The Rolex ref. 16700 is a highly sought-after timepiece that can be found in a plethora of watch collections around the world.