Why the Rolex Submariner Costs What It Does

A one-way bezel, a black dial and a case built in 1953 to go 100 metres under water. How a diving tool became the watch most people picture when they picture a watch, the wrists that made its name, and what you’re really paying for.

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The appraisal

He’s third in line for the morning ferry, coffee in one hand, the other hand resting on the rail. The wind has pushed his jacket sleeve back.

It’s steel, on a bracelet of solid, brushed links, with a black dial and fat luminous dots for hours. The bezel is the first thing a trained eye reads. It’s marked in minutes, not hours, and the insert has faded unevenly, darker at one side and a soft charcoal at the other, the way an aluminium insert does after years of sun and salt. There’s no little magnifying bubble at three o’clock, so there’s no date. He bought the plain one.

Then the smaller things. The crown sits between two shoulders of steel that guard it from knocks. The clasp has a few bright scratches where it’s been dragged across a desk, but the lug edges are still sharp, so nobody has polished it to look new. And the minute hand is lined up with the bezel’s triangle. He’s timed something this morning, maybe the boil on an egg, maybe the crossing.

What does it say about him? That he likes things that were built for a job, and doesn’t mind that his job is mostly emails. It’s the most copied watch in the world and he wears the original without any fuss. That’s the confidence of a man who never had to explain his choice.

Where it came from

1953: a watch for a new sport

Scuba diving was still new when Rolex launched the Submariner in 1953. Rolex calls it the first divers’ watch waterproof to a depth of 100 metres (330 feet), and says its rotatable bezel let divers read their immersion time. Wikipedia notes that it was shown to the public at the Basel fair in 1954, and that Blancpain’s Fifty Fathoms was also introduced in 1953, so “first” depends on how you count.

The bezel is the whole idea. A diver lines up its triangle with the minute hand on the way down, then reads off the elapsed minutes at a glance. On today’s model it turns only one way, so a knock can only make a dive look longer, never shorter. That’s a small mechanical decision with a safety reason behind it.

The details that came later

Rolex kept adding to it rather than replacing it. The crown guards arrived in 1959, on the Submariner and the GMT-Master. The Triplock crown, with three sealed zones, came from the Sea-Dweller in 1970. The rating went to 300 metres in 1989. In 2008, Rolex introduced its Chromalight luminous display and the Glidelock clasp, which lets the wearer lengthen the bracelet notch by notch, without tools.

Ceramic came next. Wikipedia dates the first Cerachrom-bezel Submariner Date to 2008 in gold, with the steel version following in 2010. In 2020, Rolex moved the whole family to a 41mm case with slimmer lugs and new movements with about 70 hours of power reserve.

Submariner Date versus no-date

The original Submariner had no date. The Submariner Date, with its window and Cyclops lens at three o’clock, arrived in 1969, and Wikipedia identifies the first one as the ref. 1680. The early 1680s spelled “Submariner” in red on the dial, which collectors now call the “Red Sub.”

Today both versions are 41mm and waterproof to 300 metres. The no-date model uses calibre 3230 and the Submariner Date uses calibre 3235. Which is better is a matter of taste. The no-date has the cleaner, more symmetrical dial that purists like, and the date is simply useful.

Kermit, Hulk, Starbucks and Bluesy

Green is the Submariner’s other famous color, and every green one has a nickname. For the model’s 50th anniversary in 2003, Rolex gave the steel Submariner Date a green aluminium bezel, and collectors named it the “Kermit.” In 2010 the “Hulk” replaced it, with a green ceramic bezel and a matching green dial. The 2020 model went back to a black dial with a darker green ceramic bezel, nicknamed the “Starbucks” or the “Cermit.” Steel-and-gold Submariners with a blue dial and bezel are all called the “Bluesy.” None of these are Rolex names.

Read more on the stories behind Rolex nicknames.

Famous wrists and moments

The first Bond watch

In Dr. No in 1962, Sean Connery’s James Bond wore a Submariner ref. 6538, the big-crown model, on a leather strap. According to Wikipedia, he wore it in his first four Bond films, switching to a striped nylon strap for Goldfinger and Thunderball. Roger Moore wore a ref. 5513, and Timothy Dalton is, so far, the last Bond to wear a Rolex, a Submariner Date in Licence to Kill in 1989.

A racer on crutches

Steve McQueen’s real watch was a Submariner, not the Explorer II that sometimes carries his name. Revolution points to photographs from the 12 Hours of Sebring in March 1970, where he finished second overall with Peter Revson while driving with a cast on his left foot from a motorcycle accident. The Submariner, a ref. 5512, is on his right wrist, which is where he wore his watches. He wore it on the set of Le Mans whenever the scene didn’t call for his prop watch, and it’s still on his wrist on screen in The Hunter, his last film.

The ones that really went under

The tool-watch story is true, too. The British Ministry of Defence issued modified Submariners with sword hands and fully graduated bezels, which collectors call “Milsubs.” From 1970, according to Wikipedia, the French diving company Comex received Submariners fitted with a helium release valve for its saturation divers. Today Rolex names the oceanographer Sylvia Earle and the filmmaker James Cameron among the people who wear the Submariner.

What owners say

These are owners’ own accounts, paraphrased in our words. Each is one person’s experience, not a fact about every watch.

The red Sub that went everywhere. On the Rolex Forums, a collector wrote in January 2011 about the Submariner his father bought in late 1970, while flying in Southeast Asia. It’s on his father’s wrist in almost every photo up to the late 1990s. It went on a submarine patrol with the son, and to Afghanistan with his brother. When he was about 14, he borrowed it for the pool, left the crown pulled out and flooded it, and it took a summer of mowing to pay for the repair. Another member identified it as a ref. 1680 with the red lettering, and two members gave the same advice: never let a service center swap the original dial, and don’t polish it.

Twenty years, one watch. On the same forum, a collector wrote in January 2014 that he’d bought his Submariner at 24, after a couple of years of hard work, and had to split the charge across two credit cards because neither limit was high enough. He wore it every day for the next 20 years with no other watch. Asked about the bezel, he said the insert wasn’t faded at all. He’d chipped it at two o’clock while working on his race car at the track, and had it replaced with a genuine Rolex insert. That, he said, was the worst that ever happened.

The dive watch that rarely dives. In an April 2020 thread about diving with vintage Submariners, one collector said he’d worn his freshly serviced Submariner Date on the Great Barrier Reef, never deeper than 15 metres, and kept sneaking looks at it. Others pushed back: one said serious divers use a dive computer, not a dive watch, and another said vintage watches simply aren’t worth the risk. Another member made the practical point: a pressure test checks the case and its seals, not the movement, so a well-maintained watch that passes one is as safe as any other.

The buying guide

More appraisals: The Watches Worth Knowing: Stories Behind the Dials, including Why the Rolex Explorer II Costs What It Does, the GMT-Master II and the Cosmograph Daytona. If the Submariner feels like too much watch for a dinner, see the Rolex Datejust or the Oyster Perpetual, which share its case idea.

Which Submariner

• Vintage (four-digit references, such as the 5512, 5513 and 1680). Aluminium bezels, domed crystals and aged luminous paint. Condition and originality are everything.
• The five-digit era (such as the 16610 date and the 14060 no-date). Sapphire crystal, aluminium insert, the slimmer pre-ceramic case. The green Kermit belongs here.
• Ceramic, “maxi” case (the 116610 from 2010 and the 114060 from 2012). Broader lugs, a ceramic insert and the Glidelock clasp.
• Current 41mm (since 2020). Slimmer lugs, a wider bracelet and about 70 hours of power reserve.

What holds value

• Recognition. The Submariner is the dive watch everyone else is measured against, and it has changed slowly enough that an older one never looks out of date.
• Originality. On vintage pieces, an original dial and hands, unpolished case edges and an honest bezel insert matter more than a shiny finish (see “The red Sub that went everywhere” above).
• Color and catalogue changes. Green bezels and discontinued models draw the most attention. In April 2026, Hodinkee reported that Rolex had discontinued the white gold Submariner Date it calls the “Cookie Monster.”
• The honest caveat. “Holds its value” describes the model’s standing, not a promise about any one watch.

Box and papers

Box, warranty card and service records all help, and they help most when they match the watch. Ask for photos of the reference and serial numbers and check them against the papers. An independent resale doesn’t carry Rolex’s own guarantee, so read the listing’s warranty field. See what box and papers really tell you.

Service

Current models are Superlative Chronometers, tested to within −2/+2 seconds a day after casing. If you plan to swim with it, ask when it was last pressure tested and assume an older watch needs new gaskets first. Decide in advance whether you want the original dial and hands kept, and say so. More in servicing a Rolex.

What to check

• Sold by. Name the reseller and read how it authenticates. In Amazon Luxury, pre-owned watches come from independent resellers in its program, such as What Goes Around Comes Around.
• Date or no-date. A Cyclops lens means a Submariner Date. Make sure the listing’s title, reference and photos agree.
• The bezel. It should turn one way only, counterclockwise, and click cleanly. Aluminium inserts are easy to swap, so ask whether the insert is original. Check ceramic inserts for chips.
• The dial and hands. Ask whether they’re original or service replacements. On vintage pieces, that changes everything.
• The rehaut. On models from late 2008 on, Wikipedia says the inner ring around the dial is engraved “ROLEX” with the serial number. It should be crisp and aligned.
• Polishing and stretch. Soft lug edges mean heavy polishing. Older bracelets can sag between the links.
• The 30-day window. Amazon Luxury returns must be unused and unaltered, so don’t size the bracelet, swim with it or have it serviced until you’ve decided to keep it.

The honest downsides

• It’s everywhere. If you want to stand out, it’s the wrong watch. The Yacht-Master is the quieter relative.
• Green costs extra. Green bezels draw the most attention, and the price follows.
• Older inserts fade and chip. Aluminium inserts age unevenly, and a replacement changes originality.
• Water resistance needs upkeep. Ask when it was last pressure tested, and assume an older watch needs new gaskets before it swims.

Why it costs what it does

You’re paying for a bezel that only turns the safe way, seventy-odd years of small improvements that never changed the silhouette, and a watch that has been to sea with navies and to the movies with Bond. Most Submariners will never go deeper than a swimming pool. They’re bought because they could, and that turns out to be reason enough.

More stories

• Why the Rolex Cosmograph Daytona Costs What It Does: the racing stopwatch, Paul Newman’s watch and the Rainbow
• Why the Rolex GMT-Master II Costs What It Does: the jet-age travel watch, and the Pepsi, Batman and Sprite bezels
• Why the Rolex Datejust Costs What It Does: the date window, the Jubilee and the wrists that made the Datejust
• Why the Rolex Oyster Perpetual Costs What It Does: the plainest Rolex, and the turquoise dial everyone calls Tiffany
• Pepsi, Batman and a Frog: The Stories Behind Rolex Nicknames: Pepsi, Batman, Kermit and the Paul Newman, and which origins are lore
• The Quiet Overhaul: What Really Happens When You Service a Rolex: what really happens on the bench, and why owners ask for no polish
• The Cardboard That Matters: What Box and Papers Mean for a Rolex: what a full set is, and what can never be replaced
• Why the Rolex Explorer II Costs What It Does: the orange hand built for cavers and polar explorers
• Why the Rolex Yacht-Master Costs What It Does: the Submariner for the deck, in platinum and steel
• The Maisons: The Houses Behind the Pieces Worth Knowing: the saddlers, jewelers and watchmaker behind the pieces
• Every watch story on Finely Owned, in one place

Sources

• Rolex, Submariner
• Rolex, History 1953–1967
• Rolex, Oyster Story: A Collection Shaped by Innovation
• Rolex, Air-King (crown guard introduced in 1959 on the Submariner and GMT-Master)
• Wikipedia, Rolex Submariner
• Hodinkee, Introducing the Rolex Submariner ref. 124060 (Aug 31, 2020)
• Hodinkee, Rolex discontinues the “Pepsi” GMT-Master II and “Cookie Monster” Submariner Date (Apr 13, 2026)
• SwissWatchExpo, Rolex Submariner nicknames (Aug 6, 2021)
• Revolution, Steve McQueen: The Watches (Aug 4, 2020)
• Owner accounts: Rolex Forums, “My dad’s Submariner”; Rolex Forums, “Intro and my 20 Year Old Sub”; Rolex Forums, “Scuba diving with vintage 1680 & 5513”

As an Amazon Associate I earn from qualifying purchases. Finely Owned is independent and isn’t affiliated with Rolex.