The Rolex Submariner 116610LV, affectionately nicknamed the "Hulk" due to its vibrant green bezel, has cemented its place as a legendary timepiece within the Rolex universe. Its striking aesthetic, robust build, and impressive history have made it a highly sought-after watch, particularly in the Australian market. However, understanding the current pricing landscape requires navigating a complex interplay of factors, including the watch's discontinued status, fluctuating market demand, and the unique dynamics of the Australian luxury watch market. This article will delve into the price of the Rolex Submariner 116610LV in Australia, exploring its past, present, and potential future value.
The Rise and Fall (and Rise?) of the Hulk:
The 116610LV, introduced in 2010, quickly captivated collectors and enthusiasts alike. Its vibrant green Cerachrom bezel, a stark contrast to the traditional black, marked a bold departure for the Submariner line. This unique feature, combined with the already established reputation of the Submariner, fuelled high demand, driving prices beyond the original retail price almost immediately. The watch became a symbol of status and a prized possession for many.
The period leading up to its discontinuation in 2020 saw the 116610LV command premium prices in the secondary market. The scarcity driven by its limited production and increasing popularity meant that finding a new, unworn example was challenging, and prices soared. Examples like the one advertised at AU$ 30,032 + AU$128 shipping, and another listed at AU$ 33,803, reflect the peak of this market frenzy. These prices, while seemingly high, were not unusual for the time, reflecting the intense demand.
However, the market dynamics shifted significantly after the release of the new generation Submariner models in 2020. The introduction of the 41mm Submariner Date (Ref. 126610LV), with its updated movement and slightly larger case, effectively marked the end of the 116610LV's production run. This event, coupled with the influx of pre-owned 116610LVs into the market, led to a noticeable correction in prices. The previously sky-high values experienced a sharp decline. While an unworn 116610LV might have commanded around 32,000 USD (approximately AU$46,000 at the time) in May 2022, this figure represents a significant drop from its peak.
Factors Affecting the Price of the Rolex Submariner 116610LV in Australia:
Several factors contribute to the price fluctuation of the Rolex Submariner 116610LV in Australia:
* Discontinuation: The discontinuation of the 116610LV is a primary driver of its value. Discontinued Rolex models often appreciate in value over time due to their scarcity and collector appeal. The 116610LV is no exception, although the initial price drop following its discontinuation was significant.
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