The Rolex Submariner reference 5508, affectionately known as the "Big Crown" Submariner, occupies a unique and highly coveted position within the world of collectible watches. Its relatively short production run, distinctive design features, and legendary history have propelled it to the forefront of desirability amongst serious collectors, resulting in consistently impressive auction results and a robust secondary market. This article delves into the fascinating world of Rolex 5508 auction results, exploring the factors that influence prices, analyzing recent sales, and providing insights into the current market landscape for this iconic timepiece.
The Allure of the 5508: A Historical Perspective
The Rolex 5508, produced between approximately 1958 and 1962, represents a transitional period in the Submariner's evolution. Bridging the gap between the earlier, more rudimentary Submariners and the later, more refined models, the 5508 boasts a unique blend of characteristics that set it apart. Its most distinguishing feature is its larger crown, hence the nickname "Big Crown," which is significantly larger than those found on subsequent Submariner models. This larger crown was a practical improvement, offering enhanced grip and ease of use, particularly in challenging underwater conditions.
Other key features that contribute to the 5508's desirability include its distinctive "sword" hands, the presence of a gilt dial (though some examples exist with non-gilt dials), and the occasional inclusion of a "transitional" dial with a combination of characteristics from both earlier and later models. The variations in dial markings, hand types, and case features across the production run further enhance the complexity and appeal of collecting these watches, with certain configurations commanding significantly higher prices than others. The relatively short production period also contributes to its rarity, making pristine examples highly sought after.
Auction Results: A Rollercoaster of Record-Breaking Sales
The auction market for the Rolex 5508 has witnessed dramatic fluctuations, mirroring the cyclical nature of the luxury watch market as a whole. However, the overall trend points towards a consistent upward trajectory, with exceptional examples fetching truly astronomical prices. While precise data on every single 5508 sold at auction is not publicly available in a single, comprehensive database, reports from major auction houses like Christie's, Sotheby's, and Phillips consistently highlight the remarkable sums commanded by these watches.
Recent years have seen several 5508s achieve prices exceeding $1 million, with some surpassing this figure considerably. The price achieved is highly dependent on several factors, including:
* Condition: The overall condition of the watch, including the case, dial, hands, and movement, is paramount. Unworn or near-unworn examples with pristine original components will always command the highest prices. Signs of wear, restoration, or replacement parts will significantly impact the value.
* Dial Variations: As mentioned earlier, the dial is a crucial factor. Gilt dials are generally more valuable than non-gilt dials. Specific dial variations, such as those with unique markings or patinas, can also significantly influence the price.
* Case Reference: Subtle variations in the case, such as the type of lugs or the presence of specific engravings, can affect the value.
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