Vintage Rolex Submariner: Is It a Good Investment?

A vintage Rolex Submariner can be a sound long-term hold, but "vintage" covers references built forty, fifty and even sixty years apart, and they do not behave the same way in the market. The no-date 5513 (1962 to 1989), the "Red Submariner" 1680 (produced from the late 1960s into 1980) and the aluminium-bezel 16610 (1988 to 2010) are the three most commonly discussed, and each sits at a different price point, with different authentication risks and a different case for holding rather than trading. This guide runs through what defines each era, how they compare with the current Rolex Submariner line, and what to check before buying one as anything more than a watch to wear. Bizak & Co. sources Submariners to order rather than holding retail stock.

Last reviewed on September 28, 2026 by Filip Biczak. Prices are dated observations, not quotes.

Rolex Submariner reference timeline: 1953 to today

Source: Rolex, the Submariner collection page, which lists the current 41 mm references and their specifications.

What makes a Rolex Submariner reference "vintage"?

In the trade, "vintage" usually means a discontinued reference from before the ceramic-bezel era that began in 2010, so the 5513, 1680, 16800 and 16610 all qualify, while the 116610LN and 116610LV sit in a newer, "modern classic" category. Collectors also draw a line at the 1988 introduction of the sapphire crystal and quickset date on the 16610's predecessors, since anything older requires more specialist authentication knowledge around dial printing, lume type and case stamping. The practical effect is that buying a 5513 or a 1680 is a different exercise from buying a 16610: older watches need more scrutiny, cost more relative to their production numbers, and reward buyers who do the homework.

Is the Rolex Submariner 5513 a good investment?

The 5513 was Rolex's no-date Submariner for twenty-seven years, which means there are more variants than most buyers expect: gilt dials with gold printing gave way to matte dials in the late 1960s, crown guards changed shape, and the movement moved from the calibre 1520 to the 1530. Its appeal to collectors rests on the absence of a date complication, which keeps the dial symmetrical, and on the fact that early gilt examples are genuinely scarce relative to demand. Because production spanned nearly three decades, condition and originality matter more than the reference number alone; two 5513s from different decades can look and cost very differently. Buyers who want the classic no-date Submariner silhouette and are prepared to pay for expert authentication tend to be the ones who do well with this reference; those who are not should look at the 16610 instead.

Is the "Red Submariner" 1680 worth buying?

The 1680 introduced the date function to the Submariner line and, on its earliest dials, printed "Submariner" in red rather than white, a detail that later gave the nickname "Red Sub" and now drives most of the reference's premium over its white-text siblings. Rolex phased out the red text over the watch's run and moved fully to white by the time production ended around 1980. Because the premium is concentrated in a specific, datable dial variant, authentication is the whole game here: buyers should confirm the dial generation against known references before paying a premium for "red text," since replacement and refinished dials exist in the market. A correct, unmolested 1680 is a genuinely scarce object; a 1680 with a swapped dial is a 1680, not a Red Sub, whatever the seller calls it. Auction results for correctly documented examples at houses such as Phillips give a sense of how the best examples trade, though individual lots vary widely by dial generation, condition and provenance.

How does the 16610 compare with the current Submariner?

The 16610 is the value route into a Submariner that still reads as "vintage" to most eyes, at roughly half to two-thirds the cost of a current no-date model depending on condition and set. What you give up is the ceramic bezel, which does not fade or scratch the way the 16610's aluminium insert does, and the five-year factory warranty, since the 16610's own Rolex warranty has long since expired. Buyers who want a Submariner to wear hard without worrying about the bezel should look at the current 124060 or 126610LN; buyers who want the older case proportions and are comfortable inspecting a used watch closely tend to prefer the 16610.

How do vintage and modern Submariners wear differently?

The 5513, 1680 and 16610 all share the same 40 mm case, roughly 12.5 mm thick, which reads noticeably smaller and flatter on the wrist than the current 41 mm 124060 or 126610LN. Older bracelets on 5513s and 1680s use hollow end links and a simple folding clasp rather than the Glidelock or Oysterlock extension systems on newer watches, so they sit lower and lighter. None of the pre-2010 references have a ceramic bezel, so all of them show wear on the insert over decades of use, which is part of the appeal for buyers who want a watch that visibly carries its age rather than one that resists it.

Is a vintage Rolex Submariner a good investment today?

Treat any vintage Submariner as a watch to own and enjoy first, with value retention as a secondary benefit rather than the reason to buy. Discontinued Rolex sports references generally have a fixed and shrinking supply of correct, unpolished examples, which supports demand over long periods, but short-term price swings happen and a watch bought at a market peak can sit underwater for years. The references that have historically held up best are the ones bought correct and complete: original dial, original bezel insert, matching serial and case numbers, and box and papers where available. A refinished dial, a replaced bezel insert or a heavily polished case each remove value that does not come back. Buy the watch you want to wear; if resale matters, get a written cash-buy assessment before you commit rather than relying on what a reference "should" be worth.

Buying a vintage Submariner: what to check

• Dial originality. Printing sharpness, lume plot placement and the transition between gilt, matte and Luminova-era dials should match the case's production window; a "too clean" dial on an old watch is a reason to ask more questions.
• Case condition. Sharp lug chamfers and even brushing indicate a lightly polished or unpolished case; soft, rounded edges mean repeated over-polishing, which is common on decades-old watches and reduces value.
• Bezel insert. On 5513s, 1680s and 16610s the aluminium insert fades and scratches with age; a bright, unmarked insert on an old watch is likely a service replacement, which is acceptable if priced accordingly.
• Movement service history. Ask for the last service date and any receipts; a 40- or 50-year-old movement with no documented service history should be budgeted for one.
• Bracelet stretch. Hold the watch by the clasp; a bracelet that sags into a visible curve has stretched links and needs attention.
• Papers and box. Rolex does not reissue papers for these eras, so a matching, period-correct guarantee card adds real value when present and is not a dealbreaker when absent on an older watch.
• Price against the band. A correct, full-set vintage Submariner offered well under the going rate for that specific reference and condition is the clearest warning sign there is.

Our authentication process and vintage Submariner authentication guide cover what we inspect on every reference before it leaves us.

Quick answers

Is a vintage Rolex Submariner a good investment?

It can hold value well over long periods if it is correct, complete and bought at a sensible price, but treat it primarily as a watch to own and wear. Short-term price swings happen, and a watch bought at a peak can take years to recover.

What is the rarest vintage Submariner reference?

Early gilt-dial 5513s and correct, unmolested "Red Submariner" 1680s with matching case and dial generations are among the most sought after, largely because so few survive unpolished and with their original dial.

Does the 16610 have a ceramic bezel?

No. The 16610 uses an anodised aluminium bezel insert that fades and scratches over time; the ceramic Cerachrom insert arrived with the 116610LN in 2010.

Why is the 1680 called the "Red Submariner"?

Because its earliest dials printed "Submariner" in red rather than white. Rolex switched to white text before the reference was discontinued around 1980, so only early examples carry the red text that gives the nickname.

Should I buy a vintage or a current Submariner?

Buy vintage for the smaller case, the character of an aged bezel and dial, and a lower entry price on references like the 16610. Buy current for the ceramic bezel, the longer power reserve and a five-year factory warranty.

Request a Submariner sourcing quote

Tell us the reference, era, dial and condition you are after, plus your budget and timing, through our sourcing enquiry form. We confirm the specific watch, photographs, papers and final price before you commit. Browse the used Submariner collection, the full Submariner collection, or sell or trade your Submariner.

Related reading: Submariner 16610LV Kermit guide · Submariner 124060 up close · Vintage Submariner authentication guide · Submariner price guide.