Where is the reference number on a Rolex?

Engraved on the case between the lugs at twelve o'clock, under the bracelet. The serial number is between the lugs at six o'clock, and on later watches it is also engraved on the inner bezel ring. Both are printed on the guarantee papers.

Is a Rolex with a service dial worth less?

Yes. On a vintage Rolex an original dial, even one that has aged unevenly, is usually worth well above a replacement dial fitted at a later service. If the original dial came back after a service, sell it with the watch.

How accurate are these price ranges?

Each range is the middle half of recorded sales for that reference at auction houses and dealers, rounded. Your watch can sell above it (original dial, unpolished case, full set of papers) or below it (service parts, heavy polishing, no papers). We only show a range when there are enough recent sales for it to mean something.

Should I service my watch before I sell it?

Usually not. Collectors would rather judge an unserviced watch than one where the dial, hands or crown may have been replaced along the way. Tell the buyer whether it runs. If it has been serviced, include the paperwork and any original parts that came back.

Does polishing lower a watch's value?

Yes, on a vintage watch it can lower it a lot. Polishing rounds off the edges and bevels and thins the lugs, and the metal can't be put back. Leave the scratches. Buyers of vintage watches expect them.

Can Grey Market tell me what my watch is worth?

Yes. Submit photos and our team reviews the watch, confirms what it is, and tells you how we would sell it: a starting bid for a seven-day auction, a fixed price on the Exchange, or a cash offer. There is no cost and no obligation.

How much is my Rolex worth?

A Rolex is worth what the same reference, in the same condition, has recently sold for. Find the reference between the lugs, check recent sales below, then adjust for originality: the dial, the hands and bezel, an unpolished case and the papers.

Sell your Rolex Check recent sales ↓

Recent sales

What a Rolex sells for, by reference.

The range is the middle half of recorded sales at auction houses and dealers, rounded. An original, unpolished example with papers sells toward the top of it or above; service parts and heavy polishing pull it down.

Reference	Typical range	Middle	Sales
Rolex Datejust 1601	$3,400 to $4,700	$4,000	1156
Rolex Explorer II 16570	$6,100 to $7,800	$6,900	800
Rolex Submariner 16610	$7,400 to $9,100	$8,100	690
Rolex GMT-Master 1675	$9,900 to $21,000	$14,500	689
Rolex Datejust 16233	$5,000 to $6,900	$6,000	647
Rolex Datejust 16013	$3,800 to $5,800	$4,600	638
Rolex Submariner 5513	$8,500 to $15,000	$11,500	624
Rolex GMT-Master 16710	$9,000 to $12,750	$10,750	552
Rolex Submariner 1680	$11,000 to $23,750	$14,750	484
Rolex Submariner 16613	$8,300 to $10,750	$9,500	445
Rolex Datejust 1603	$3,300 to $4,800	$3,900	409
Rolex Day-Date 1803	$7,100 to $12,250	$9,200	394
Rolex Oyster Perpetual 1500	$2,600 to $3,900	$3,200	370
Rolex Day-Date 18038	$10,250 to $18,000	$13,750	367
Rolex Submariner 14060	$6,200 to $8,500	$7,300	319
Rolex Sea-Dweller 16600	$6,900 to $8,800	$7,800	308

Another brand? See the all-brands page.

Start here

First, find the reference and serial.

The reference: Engraved between the lugs at twelve o'clock, under the bracelet. A jeweller can remove the bracelet in a minute if you'd rather not. Four-digit references (1675, 5513, 1601) are generally from the 1950s to the 1980s, five-digit references (16610, 16750) from the late 1970s to the 2000s, six-digit references from the 2000s on.
The serial: Between the lugs at six o'clock, and on later watches also engraved on the inner bezel ring. It dates the case to about the year. Look up a Rolex serial number.
The papers: The guarantee paper or card lists both numbers and the date of sale. Papers that match the serial are worth keeping safe, and worth mentioning first when you sell. How old is my Rolex? covers dating in more detail.

Condition and originality

What moves the price.

Two Rolexes of the same reference can sell thousands of dollars apart. Collectors pay for originality, roughly in this order. To check whether a Rolex is genuine first, see how to tell if a Rolex is real.

The dial: The dial carries most of the value of a vintage Rolex. Rolex dials with tritium lume, used until about 1998, are marked "T SWISS T" or "SWISS - T < 25" at six o'clock. A 1970s Rolex whose dial reads only "SWISS" or "SWISS MADE", with bright, even lume, has usually been fitted with a service dial at some point, and that costs it a lot. Variations matter too: some dials of the same reference are worth multiples of others. The Rolex dial guide shows what to look for.
Hands and bezel: Hands should match the dial: the same lume, aged the same way. A bezel or bezel insert that has been replaced lowers the value, while an original insert that has faded evenly can raise it. A watch assembled from parts of different watches is a frankenwatch, and it sells for a fraction of a correct one.
The case: Polishing removes metal, and it can't be put back. Sharp edges, crisp bevels on the lugs and full-thickness lugs are what collectors pay up for. A case that has been polished round can take a real share off the price. Polished versus unpolished shows the difference.
The bracelet: The original bracelet for the reference, with the right end links and a clasp whose date code fits the watch, adds value. So does tightness: a stretched bracelet is worth less than one that still holds its shape. Keep any extra links.
Box, papers and history: Original papers that match the serial number confirm what the watch is and where it came from, and on a Rolex, Patek Philippe or Omega they carry a real premium. Receipts, service records and a clear ownership story help too. A box on its own matters much less. More in what box and papers are worth.
Service parts and the movement: Collectors pay for original parts. Every service is a chance for a dial, hands, crown, bezel insert or crystal to be swapped for a newer service part, and each swap lowers the value of a vintage piece even though the watch runs better. A good service keeps the original parts and returns any that were replaced; if they came back in a bag, they belong with the watch.The movement matters too. A movement serviced by a qualified watchmaker, with the paperwork to show it, reassures a buyer. One that has had parts replaced with non-original ones, or that doesn't match the reference, is worth less. A watch that doesn't run will need a service, and buyers take that cost off the price.

Value, offer, appraisal

Three numbers, not one.

What it sells for: Market value: what a collector pays for it, the range in the table above. This is the number to anchor on.
What a dealer offers: Below market value, because a dealer has to resell the watch and carry the risk. The trade-off is speed: the money arrives in days.
What an insurance appraisal says: Replacement value at retail, usually the highest of the three. It is a number for an insurance policy, not a selling price. Grey Market doesn't issue appraisals; for insurance or an estate, use a certified appraiser (insuring a watch collection).

Before you sell

Leave it as it is.

Don't polish it. The scratches are part of the watch; the metal polishing removes is not coming back.
Don't service it just to sell it. Tell the buyer whether it runs and let them decide.
Don't swap parts. If parts were replaced and you have the originals, include them.
Find everything: box, papers, receipts, service records, extra links, old parts.
Photograph it in daylight: dial, case back, between the lugs, clasp. How to photograph a watch for sale.

FAQ

Questions owners ask.

Where is the reference number on a Rolex?
Engraved on the case between the lugs at twelve o'clock, under the bracelet. The serial number is between the lugs at six o'clock, and on later watches it is also engraved on the inner bezel ring. Both are printed on the guarantee papers.
Is a Rolex with a service dial worth less?
Yes. On a vintage Rolex an original dial, even one that has aged unevenly, is usually worth well above a replacement dial fitted at a later service. If the original dial came back after a service, sell it with the watch.
How accurate are these price ranges?
Each range is the middle half of recorded sales for that reference at auction houses and dealers, rounded. Your watch can sell above it (original dial, unpolished case, full set of papers) or below it (service parts, heavy polishing, no papers). We only show a range when there are enough recent sales for it to mean something.
Should I service my watch before I sell it?
Usually not. Collectors would rather judge an unserviced watch than one where the dial, hands or crown may have been replaced along the way. Tell the buyer whether it runs. If it has been serviced, include the paperwork and any original parts that came back.
Does polishing lower a watch's value?
Yes, on a vintage watch it can lower it a lot. Polishing rounds off the edges and bevels and thins the lugs, and the metal can't be put back. Leave the scratches. Buyers of vintage watches expect them.
Can Grey Market tell me what my watch is worth?
Yes. Submit photos and our team reviews the watch, confirms what it is, and tells you how we would sell it: a starting bid for a seven-day auction, a fixed price on the Exchange, or a cash offer. There is no cost and no obligation.

Ready to sell your Rolex? Three ways.

Sell your Rolex

A seven-day auction, your own price on the Exchange, or a cash offer. Compare them side by side.