Discontinued Watches That Went Up in Value and Why

Discontinued watches go up in value when three things line up: the reference had a following while it was in production, the supply is now fixed, and the successor is different enough that buyers keep asking for the old one. The clearest examples of the past fifteen years are the steel Patek Philippe Nautilus 5711, the Rolex GMT-Master II 116710BLNR "Batman", the Rolex Submariner 116610LV "Hulk" and 16610LV "Kermit", the Rolex Daytona 116500LN and the Audemars Piguet Royal Oak 15202ST, all of which trade above their last retail price years after Rolex, Patek and AP stopped making them. Most discontinued watches do not follow them. This guide explains which references rose, why, which ones stayed flat, and how to judge a reference that is about to be discontinued now. Bizak & Co. sources discontinued references to order; the GMT-Master II collection shows current and discontinued versions side by side.

Last reviewed on September 21, 2026 by Filip Biczak. Prices are dated observations, not quotes.

Why do some discontinued watches go up in value?

Discontinuation fixes supply, but demand is what sets the price, and demand only survives discontinuation when the watch had something the replacement lacks. That can be a colour (the green Hulk bezel and dial), a bracelet (the Batman on an Oyster rather than the Jubilee its successor was launched on), a case size (the 39 mm Royal Oak 15202 against the 41 mm models), a movement generation (the last calibre 4130 Daytonas), or simply a nickname that keeps the reference in conversation. The other ingredient is a market that was already paying over retail while the watch was in production; a reference that sold below retail second-hand rarely turns around just because it has been withdrawn. Auction results published by Phillips and Sotheby's show the pattern at the top end: the references that appreciate after discontinuation are the ones that were already in demand.

Discontinued watches that went up in value: the list

All catalogue figures are pre-owned or unworn examples sourced to order and describe what we saw on the date given; they will move. For comparison, the same catalogue listed the successor Daytona 126500LN at US$27,899 to US$31,619 and the current Sea-Dweller 126600 at US$16,800, which shows that a discontinued reference can sit above, level with or below the watch that replaced it.

The Nautilus 5711: what happens when a whole line ends

Patek Philippe announced in January 2021 that the steel Nautilus 5711/1A would be discontinued, then produced a final green-dial 5711/1A-014 for the rest of that year and a 170-piece Tiffany-blue 5711/1A-018 at the end of it, one of which sold at Phillips in December 2021 for about US$6.5 million in a charity sale. The current Nautilus collection has no steel time-and-date model; the 5811/1G of 2022 is white gold. With no successor in the same metal, every buyer who wants a steel Nautilus now buys a discontinued one, which is why the 5711 has held a multiple of its last retail price through the market correction that began in 2022. It is the extreme case of the rule: discontinuation without replacement is the strongest driver there is. The Nautilus 5990 guide and Patek Philippe price guide cover the rest of the line.

The Batman, Hulk and Kermit: discontinuation by colour and bracelet

Rolex rarely discontinues a model; it discontinues a version. The 116710BLNR was replaced in 2019 by a watch with the same bezel on a Jubilee bracelet, and buyers who wanted the Oyster kept asking for the old reference; Rolex later added an Oyster option to the 126710BLNR, which narrowed the gap but did not close it, and the 126710BLNR guide sets out the differences. The Hulk lost its green dial in 2020 and the successor 126610LV has a black dial, so the Hulk became the only green-dial ceramic Submariner and rose accordingly. The Kermit was already collectable as the 50th anniversary Submariner and the last with an aluminium insert; the earliest "flat four" bezels carry a further premium, covered in the 16610LV Kermit guide. The watch nicknames guide explains why a name keeps a discontinued reference in demand.

Which discontinued watches did not go up?

• References replaced by a near-identical successor. The Submariner 116610LN gave way to the 126610LN with a slimmer case and a better movement; the old watch trades below the new one, because nobody prefers it.
• High-volume dress and everyday models. Discontinued Datejust, Oyster Perpetual and Day-Date dial variants are plentiful and mostly trade below retail; the exceptions are colour dials with a following.
• Watches that were below retail when discontinued. A reference that dealers were discounting rarely reverses after withdrawal; supply was never the constraint.
• Precious-metal versions of steel icons. Gold and two-tone versions of the Batman, Hulk and Daytona were discontinued alongside them and generally did not rise in the same way, because the demand was for the steel watch.
• Late-cycle purchases at a premium. A Hulk bought at the 2022 peak is worth less today than it cost, even though the reference is still above its last retail price. Discontinuation set the floor, not the ceiling.

How to judge a reference that is about to be discontinued

Rolex, Patek and AP announce discontinuations at their spring releases, and the market moves within days. Before paying a premium on the rumour, ask five questions. Is the successor different in a way buyers will mind, or is it the same watch with a better movement? Was the reference trading above retail before the news? Is it steel? Does it have a nickname or a place in the brand's history, such as an anniversary or a first? And is the production run short? A yes to most of those is the profile of the watches in the table above. The Audemars Piguet collection pages and the Patek and Rolex catalogues show what is current; anything no longer listed is discontinued, whether or not the brand said so.

Buying a discontinued watch: what to check

• Warranty status. A watch discontinued in 2019 or later may still carry Rolex's five-year warranty; ask for the card date and confirm the serial on the rehaut matches it.
• Full set. On discontinued references the gap between a full set and a watch-only example is wider than on current models; decide which you are paying for.
• Service history and parts. A serviced Kermit with a replaced insert is a different watch from an all-original one; ask for the service invoice and check the insert font.
• Condition against price. Unpolished cases with sharp lug chamfers command the top of the range; a polished, watch-only example should sit near the bottom.
• The successor's price. Compare with the current reference before buying; if the discontinued watch costs more than the new one, be sure you prefer it for a reason that will last.
• A dated, written quote. Asks for discontinued references move with each spring release; get a quote in writing with a date and a description of the exact set.

Our authentication process describes what we inspect before dispatch, and the Rolex price guide explains how to compare quotes across references.

Is buying a discontinued watch a good investment?

Sometimes, and rarely at the moment the news breaks. The references that have appreciated did so over years, and most of the gain went to people who bought them at retail while they were current. Buying after discontinuation means paying the premium the market has already assigned and betting that demand outlasts the next correction. For the steel 5711, the Batman on Oyster and the Kermit, that bet has held so far; for most other withdrawn references it has not. The safer approach is to buy a discontinued watch because you prefer it to the successor, at a price that makes sense against the current model, and to treat any appreciation as a bonus. If resale is the main reason, ask for a written cash-buy assessment before you commit.

Quick answers

Which discontinued watches have gone up in value?

The steel Patek Philippe Nautilus 5711, the Rolex GMT-Master II 116710BLNR Batman, Submariner 116610LV Hulk and 16610LV Kermit, the Daytona 116500LN, the Sea-Dweller 116600 and the Audemars Piguet Royal Oak 15202ST have all traded above their last retail price for years after discontinuation.

Why does discontinuation raise a watch's value?

It fixes supply while demand continues, but only when the watch had a following and the successor lacks something buyers want, such as a colour, a bracelet, a case size or a movement generation.

Do all discontinued Rolex watches go up in value?

No. References replaced by a near-identical successor, high-volume dress models and watches that traded below retail before withdrawal generally do not rise. Steel sports models with nicknames are the exceptions.

Was the Patek Philippe Nautilus 5711 discontinued?

Yes. Patek announced the end of the steel 5711/1A in January 2021, made a final green-dial version that year and a 170-piece Tiffany edition, and replaced it in 2022 with the 5811/1G in white gold only.

Should I buy a watch as soon as it is discontinued?

Only if you prefer it to the successor at the price asked. The premium is assigned within days of the announcement, and most of the long-term gain on appreciating references went to owners who bought at retail while the watch was current.

Request a sourcing quote for a discontinued reference

Tell us the reference, whether you require a full set and warranty card, your condition requirements, budget and timing, through our sourcing enquiry form. We confirm the specific watch, photographs, card and final price before you commit. Catalogue entries: GMT-Master II 116710BLNR Batman, Submariner 116610LV Hulk, Submariner 16610LV Kermit, Nautilus 5711/1A-010; browse the GMT-Master II collection, the Nautilus collection, the pre-owned watches collection, or sell or trade your discontinued watch.

Related reading: GMT-Master II 126710BLNR guide · Submariner 16610LV Kermit guide · Daytona 116500LN guide · Watch nicknames explained.