The Rolex Submariner, a legendary dive watch synonymous with luxury and precision, held a commanding presence in the Singaporean market in 2018. Understanding its pricing then requires examining several factors: the official retail price, the fluctuating grey market value, and the influence of specific model specifications, particularly focusing on the popular Rolex Submariner Date 116613LN. This article will delve into the price landscape of the Submariner in Singapore during 2018, considering its historical trends and providing context for those considering buying or selling one today.
Retail Price in Singapore (2018): The Official Word
In 2018, the official retail price of Rolex watches, including the Submariner models, varied depending on the specific reference number and materials. While exact figures for Singapore in 2018 are difficult to definitively pinpoint without accessing archived price lists from Rolex boutiques, we can extrapolate based on known regional pricing and adjustments for currency fluctuations. The Rolex Submariner Date 116613LN, with its stainless steel and yellow gold construction, would have commanded a significantly higher retail price than its all-stainless steel counterparts. Expect the price to have been in the range of SGD 20,000 to SGD 25,000. This is a broad estimate, and minor variations existed depending on the specific authorized dealer. It's crucial to remember that these prices were subject to Singapore's Goods and Services Tax (GST).
The all-stainless steel models (e.g., the 114060 or the later 124060) would have been priced lower, likely falling within a range of SGD 15,000 to SGD 20,000, again subject to GST. These prices reflect the premium associated with the Rolex brand and the inherent quality and craftsmanship of the Submariner.
Market Price (Grey Market) in Singapore (2018): Supply and Demand Dynamics
The grey market, where pre-owned and new Rolex watches are traded outside of authorized dealers, played a significant role in determining the actual price a buyer or seller experienced in 2018. The demand for Rolex Submariners, especially popular models like the 116613LN, consistently outweighed the supply. This imbalance inflated prices beyond the official retail price.
In 2018, the grey market premium for the Submariner was substantial. While precise data is unavailable for specific models in Singapore in 2018, it's safe to assume that the 116613LN likely traded at a 20-30% premium above the retail price, meaning potential buyers could expect to pay anywhere from SGD 24,000 to SGD 32,500 or more. This price variation was influenced by factors like watch condition, box and papers (original documentation), and the specific seller.
Factors contributing to this premium include:
* High Demand: The Submariner's iconic status and enduring popularity drove intense demand, exceeding the limited supply from Rolex.
* Limited Production: Rolex maintains strict control over its production, deliberately creating a sense of exclusivity.
* Investment Potential: Rolex watches, especially the Submariner, are considered valuable assets that appreciate over time, attracting investors.
* Singapore's Affluent Market: Singapore's high net worth individuals and strong luxury market contributed to the robust demand for high-end timepieces like the Submariner.
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