Originally introduced in 1953 as a professional dive watch, the Submariner has evolved into a cultural icon and a high-performing investment asset. Over the past two decades, select Submariner references have achieved six- and seven-figure valuations, not just for their function, but for their rarity, provenance, and historical importance.
Unlike modern references that are mass-produced and widely available, the most expensive Rolex Submariner watches ever sold were built in limited numbers, often with subtle production quirks, military specifications, or celebrity connections.
These are not just watches—they are market-validated artifacts, with documented auction results and verified appreciation over time.
A standard Submariner reference 124060 retails for around $9,100. In contrast, vintage pieces like the Big Crown 6538, known from early James Bond films, have fetched over $1 million at auction, a return profile that rivals contemporary art and rare automobiles.
This article profiles the highest-value Submariner sales ever recorded. Each section breaks down the exact reference, auction price, production context, dial configuration, and collector appeal.
Table of Contents
The Most Expensive Rolex Submariner Models
| Model | Reference | Price | Rank |
|---|---|---|---|
| Rolex Submariner | 6538 | $1,068,500 | 1 |
| Rolex Submariner | 1680 | $769,170 | 2 |
| Rolex Four Liner Submariner | 6538 | $684,518 | 3 |
| Rolex Military Submariner | 5517 | $500,000 | 4 |
| Rolex Submariner James Bond | 5513 | $300,000 | 5 |
| Rolex Submariner Steve McQueen | 5512 | $234,000 | 6 |
| Rolex Submariner Panama Canal | 16610 | $215,900 | 7 |
Rolex Submariner 6538 ($1,068,500)
The Rolex Submariner reference 6538 is the most expensive Rolex Submariner Model, due to its early mechanical pedigree and its place in cultural history. Nicknamed the Big Crown, the 6538 gained icon status after appearing on Sean Connery’s wrist in early James Bond films, including Dr. No and Goldfinger.
Beyond cinema, the 6538 is a grail level vintage piece because of its scarcity, short production window, and period specific design cues that Rolex would soon move away from.
A standout example reached $1,068,500 at Phillips Geneva Watch Auction XVI in 2022. The premium was driven by configuration and preservation. The watch featured a radium luminous gilt gloss dial in excellent condition, an unpolished stainless steel case with sharp edges, and original supporting materials including the chronometer certificate, box, and documented history.
Specifications summary
- Production years: 1956 to 1959
- Movement: Caliber 1030 automatic chronometer
- Case diameter: 38mm stainless steel
- Crown: Oversized 8mm Brevet crown with no crown guards
- Dial: Glossy gilt with radium luminous material, some examples with Four Liner text
- Crystal: Domed acrylic
- Bracelet: Oyster riveted bracelet
What makes the 6538 so valuable is the convergence of scarcity, visual identity, and historical resonance. The oversized crown format was short lived, which makes well preserved examples difficult to source, especially in unpolished condition. Radium is another major value driver. It was phased out by the early 1960s, and collectors pay a premium for radium dials that have aged evenly without damage.
Then there is the Bond effect. The watch draws demand from serious vintage Rolex collectors, but also from film historians and design collectors who view it as a cultural artifact as much as a timekeeper. That cross market demand is one reason top examples can outperform broader watch benchmarks when the market prizes provenance and originality.
Rolex Submariner 1680 ($769,170)
The Rolex Submariner 1680 holds a unique place in Submariner history as the first reference to add a date complication and, more importantly, the red Submariner text that gave it the Red Sub nickname.
Produced from the late 1960s through the late 1970s, it marks a shift in Rolex strategy, blending tool watch credibility with everyday luxury appeal.
Most 1680 examples trade in the five figure range depending on condition and dial type. However, a rare early variant with an early Mark I dial and meters first depth rating, preserved in near mint condition, sold for $769,170 at auction. The price reflects rarity and preservation, but also the fact that the 1680 is one of the most studied and broadly recognized vintage Submariners, which supports strong buyer competition for exceptional examples.
Specifications summary
- Production years: 1969 to 1979
- Movement: Caliber 1575 automatic with date
- Case diameter: 40mm stainless steel
- Crown: Screw down Triplock crown with crown guards
- Dial: Matte black with red Submariner text, variation by Mark I through Mark VI
- Crystal: Acrylic with Cyclops lens
- Bracelet: Oyster folded link bracelet
What drives six figure results in the 1680 category is dial rarity, transitional design details, and originality. The red Submariner print appears on early production and then disappears, which makes intact red dials substantially more valuable. Collectors especially prize Mark I dials with meters first layout and distinctive numeral shapes.
The high result was supported by completeness and condition: untouched case geometry, period correct bracelet, matching luminous aging on hands and plots, and full box and papers.
Some collectors also value naturally aged tropical dials, where the black shifts into warm brown tones, because it signals time and authenticity when the aging is even and stable.
Rolex ‘Four Liner’ Submariner 6538 ($684,518)
Within the already elite world of early Submariners, the Rolex Submariner 6538 Four Liner stands out for one subtle but decisive feature: four lines of text on the lower portion of the dial. This layout signals an early period when Rolex began emphasizing chronometer certification on the Submariner, a meaningful shift in how the brand positioned the model.
A superb Four Liner example sold for $684,518 at a Geneva auction in 2018. The premium reflected both rarity and the kind of preservation that collectors pay aggressively for in early gilt dial Rolex.
Specifications summary
- Production years: circa 1957 to 1959
- Movement: Caliber 1030 chronometer certified
- Case diameter: 38mm stainless steel
- Crown: Oversized 8mm Brevet crown with no crown guards
- Dial: Gilt gloss with four lines of text including chronometer wording
- Crystal: Domed acrylic
- Bracelet: Oyster riveted bracelet
The Four Liner dial is prized because it is both rare and historically important. It captures Rolex in the act of evolving the Submariner from a pure tool watch into a precision product with a stronger status message. Very few 6538 dials carry this configuration, and the pool of surviving examples in high integrity condition is even smaller.
The sale price was reinforced by crisp gilt printing, strong radium plots, correct original hands, and an unpolished case with full lug geometry. Provenance helped too, with long term single ownership and limited prior market exposure, which often increases confidence among bidders.
Rolex Military Submariner Reference 5517 ($500,000)
The Rolex Submariner 5517, widely known as the MilSub, occupies a category of its own. Issued to the British Royal Navy in the 1970s, it was not sold to the public and was produced in small quantities for operational use. That origin story alone makes surviving examples scarce, because many were worn hard, modified, or lost.
In 2021, an original and unmodified 5517 with full military provenance sold for $500,000 at a London auction. The result confirmed that the MilSub is not only a historically important tool watch, but also an investment grade reference with enduring collector demand.
Specifications summary
- Production years: 1972 to 1979, military issued only
- Movement: Caliber 1520 non chronometer
- Case diameter: 40mm stainless steel
- Crown: Screw down Triplock with crown guards
- Dial: Matte black, sword hands, T marking for tritium
- Crystal: Acrylic dome
- Lugs: Fixed bars for fabric straps
What separates the 5517 from civilian Submariners is that it was built to military specification. Fixed bars, sword shaped hands, and a fully graduated bezel were chosen for legibility and reliability in real operations. Case backs were engraved with military markings and issue numbers that can link the watch to specific service context.
The half million valuation reflected three key pillars: unpolished case integrity, consistent tritium aging, and verified military provenance. Collectors also value rare crossover examples linked to the broader 5513 family, where configuration details become unusually specific and therefore more desirable.
Rolex Submariner 5513 James Bond ($300,000)
Among vintage Submariners, few carry a pop culture identity as strong as the Rolex Submariner 5513 associated with Roger Moore’s James Bond era. While the 6538 is more closely tied to Sean Connery, the 5513 became the visual anchor for Bond in the early 1970s. The film Live and Let Die featured a modified prop version, and the film connection has remained a powerful demand driver.
The original prop watch used in production sold at auction in 2015 for $365,000. Separately, production correct civilian 5513 examples with early matte dials and strong provenance have been known to command prices in the $250,000 to $300,000 range when condition and story align.
Specifications summary
- Production years: 1962 to 1989, Bond era examples typically early 1970s
- Movement: Caliber 1520 or 1530 non chronometer
- Case diameter: 40mm stainless steel
- Crown: Screw down with crown guards
- Dial: Matte black with tritium
- Crystal: Acrylic dome
- Bracelet: Oyster bracelet, period correct links and end links matter
The 5513’s collector appeal comes from two angles. First, the clean non date dial layout is one of the most desired Submariner aesthetics among vintage purists. Second, the Bond association gives it broad recognition beyond watch collecting. That crossover visibility expands the buyer pool, which can push prices higher for top examples.
The highest valuations tend to attach to early serial ranges, unpolished cases, matching luminous aging, and early dial variants such as meters first. When the watch also carries documented connection to film production, crew ownership, or screen matched details, premiums can rise sharply.
Rolex Submariner 5512 Steve McQueen ($234,000)
The Rolex Submariner 5512 already carries weight as one of the earliest crown-guarded Submariner models, but its value rises significantly when linked to a cultural icon like Steve McQueen. While McQueen more famously wore a Rolex Explorer II in real life, auction records show he also owned and wore a Submariner 5512 in the 1960s and 1970s—specifically a matte-dial example that has since been referred to in collector circles as the “Steve McQueen Submariner.”
Specifications summary
- Production years: 1959 to 1978
- Movement: Caliber 1560 or 1570 chronometer rated
- Case diameter: 40mm stainless steel
- Crown: Triplock with crown guards
- Dial: Matte black, meters first examples are prized, gilt and early text variants add value
- Crystal: Acrylic dome
- Bracelet: Oyster riveted or folded link
What made the McQueen linked 5512 exceptional was the provenance trail. In the documented case, the watch was gifted by McQueen to his close friend and stuntman Loren Janes and carried an engraved dedication. That kind of personal story, supported by documentation, turns a great reference into a cultural asset that draws demand beyond the watch market.
The 5512 also matters historically because it represents Rolex’s move toward crown guard architecture and chronometer positioning within the Submariner line. It bridges early tool watch DNA with the design language that would define later decades.
Rolex Submariner 16610 “Panama Canal” ($215,900)
At first glance, the Rolex Submariner 16610 does not look like a candidate for top tier auction results. Introduced in 1988 and produced until 2010, it is a modern, widely produced reference known for durability and reliability. However, exceptionally rare issued or commissioned variants can break the usual pricing ceiling.
One such example, a Submariner 16610 linked to Panama Canal related service and sold with documentation and engravings, brought $215,900 at auction in 2022. The result ranks among the highest recorded for a 16610 and demonstrates how modern references can become high value assets when provenance is unquestionable and supply is extremely limited.
Specifications summary
- Production years: 1988 to 2010, issued example linked to the late 1990s
- Movement: Caliber 3135 automatic with date
- Case diameter: 40mm stainless steel
- Crown: Triplock with crown guards
- Dial: Glossy black with luminous plots and applied markers
- Crystal: Sapphire with Cyclops lens
- Bracelet: Solid link Oyster bracelet
The value here is driven by exclusivity and story, not by being an early Submariner. Collectors pay for military or government linked Rolex pieces when the chain of authenticity is strong. The best examples include supporting documents, photos, and clear provenance that cannot be replicated.
This sale also highlights a broader market lesson. In Rolex collecting, rarity plus documentation can elevate a reference that is otherwise common into a serious collectible, especially when the watch was never offered through normal retail channels.
FAQ
What is the most expensive Rolex Submariner ever sold?
The most expensive Rolex Submariner ever sold is the reference 6538 Big Crown, which achieved $1,068,500 at auction. The combination of early production, preservation, and cultural significance pushed it to the top of the market.
Why are some Rolex Submariners worth over $500,000?
The highest value Submariners combine scarcity with originality and documented provenance. Key drivers include early production eras, military issue specifications, celebrity ownership, and untouched condition with correct parts and papers.
What’s the difference between the 5512 and 5513?
The 5512 is chronometer rated and generally produced in lower quantities, while the 5513 is non chronometer and produced for a longer period. Both can be highly collectible, especially early examples with strong originality.
Do auction prices for Submariners keep rising?
Record prices continue to appear for the rarest, best documented Submariners. The trend is supported by global demand for top condition examples and the shrinking supply of original, unpolished watches with clear provenance.
