Floyd Mayweather’s Latest Rolex Purchase Is OTT, Even For Him
Floyd Mayweather has taken his watch-obsession to the next level, gifting his five-week-old grandson an 18k yellow gold diamond-encrusted Rolex Oyster Perpetual Datejust valued at $45,000.
While that might seem like an extravagant gift for a baby, it’s chump change compared to Mayweather’s own $18 million “Billionaire Watch,” which was made by Jacob & Co. in 2015. The boxer’s love for timepieces has been well documented — in 2018 he took to Instagram to reveal his wildly expensive collection of 41 watches.
So it stands to reason that when his daughter Yaya and rapper NBA Youngboy welcomed their son, Kentrell Jr last month, Mayweather wanted to begin his grandson’s watch collection in style. After all, this is the man who claimed he packs 10 different watches on a ten-day trip.
The face of the custom diamond-encrusted watch is as big as the baby’s fist. Yaya shared the picture of Kentrell’s Rolex on her Instagram story, with the caption, “KJ’s papa got him his first Rolex.”
The Rolex Oyster Perpetual Datejust is a certified, self-winding chronometer wristwatch that launched in 1945. It was the first self-winding chronometer wristwatch to indicate the date in a window on the dial. Today, it exists in a variety of sizes from 28mm to 41mm, in stainless steel, two-tone gold, and solid gold versions. Notable wearers in history include the 14th Dalai Lama, Martin Luther King Jr., and Michael Jordan. And of course, Kentrell Jr. — as you can see below.
Missing from shelves: Rolex steel watches as demand skyrockets
For watch collectors and horologists alike, shopping trips to dealerships for the last six months would have been futile. That’s because the company, famed for its waterproof watches that never depreciate, clamped down on factory production for three months starting March 2020. The result: Shelves in stores were almost empty with limited products on sale not just in India but across the world. Dealers across the country have less than two or three dozen watches as compared to the 200 to 250 they would normally stock.
Did that curb sales enthusiasm or impact the company’s brand cache? On the contrary, demand has never been stronger, say authorised dealers in Delhi who requested not to be named.
Part of this has to do with Rolex’s unique market tactics of supply and demand that tightly control the numbers of select models that the Geneva headquartered luxury watchmaker gives out to dealers to sell.
For example, its steel and gold watches in certain sports models end up being cheaper than an all-steel version because there are fewer of the steel ones supplied. The Cosmograph Daytona, which is a chronograph, always has a waiting period of a year or even more — it’s gone up further during the pandemic — and a premium that can be as much as the retail price of the watch.
For most of its watches, the company raises prices like clockwork — annually.
So, an Oyster Perpetual model, which cost around Rs 3.85 lakh last year, is now priced at Rs 4.25 lakh — a 10 per cent increase.
Collectors and buyers alike know that the watch they are buying today will be at least 50 per cent more expensive in a few years. And that naturally rubs off to the resale price, forming a virtuous cycle, keeping prices and value constantly on the climb, says Edward Lee, a Kolkata-based collector of vintage and modern watches.
Rolex watches are consistently sought after and keep appreciating, adds Rishad Cooper, a Pune-based watch collector and Rolex expert. “Rolex watches are perfectly designed for comfort on the wrist. They are robustly constructed and cased, from excellent raw materials to keep accurate time, with consistent reliability,” says the aficionado. “The design language of famous sub-brands such as Datejust, Day-Date, Submariner, GMT-Master and Explorer, while keeping pace with technology to embrace subtle upgrades, are kept largely and carefully unchanged to feed generations of familiarity. This grows demand and keeps values headed North,” Cooper adds. Then, of course, there’s the legacy spanning decades of success.
Is there more to the formula? For starters, Rolex has been masterful at playing the demand-supply game, limiting its issue of coveted and in-demand watches to only one or two pieces per dealership.
That specifically includes stainless steel models like the Daytona, the Submariner, GMT, Explorer I and Explorer II, and of late the newly launched Oyster Perpetual with coloured lacquered dials.
“For Rolex, there is very little supply in the second-hand market because new supplies are constricted and people are also aware of the fact that these are starting to appreciate,” says Imran Khan, partner, Well Known Watch House, a Mumbai retailer of both new and vintage multi-brand watches.
While other brands, such as Panerai for example, too are seeing sales rebound but there isn’t a premium, wait time or shortage. That applies to brands such as Omega, IWC, and Cartier as well.
Is there a premium on all Rolex watches? Khan says, officially no, but the market reality is that “there is a premium that dealerships from London and New York City to Dubai slap on and it can range from 50 per cent to 100 per cent on select models”. These include the Milgauss, the Cosmograph, Oyster Perpetual, GMT and the Explorers II.
Khan says that around six Rolex watches come up for resale every month at his store. Last year, however, saw less than one in a month on an average, he says.
Pratik Dalmia, founder Mumbai-based Regalia Luxury Retail, which sells high-end watch brands such as Bovet, says that the other dynamic is that " the luxury timepiece category has seen demand staying relatively insulated from Covid, largely due to reallocation of budgets from other discretionary categories such as foreign holidays and extravagant celebrations, amongst others”.
This, he adds, has led to major watch brands such as Rolex seeing an over-demand from collectors and consumers alike.
Everything You Need to Know About Rolex’s Most Serious Dive Watch
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The Rolex Sea-Dweller is like the famous Submariner, only more so: it’s beefed up, specced out and all-around badass. While the Submariner is a capable dive watch, it’s so handsome and versatile that the vast majority of units sold will probably never get very wet. The Sea-Dweller, on the other hand, is resolutely made for extreme underwater use — it’s the OG hardcore dive watch.
When the Sea-Dweller debuted in 1967 it existed within the Submariner line. It was rated to go significantly deeper (610m) than the existing Submariner (200m water-resistant at the time) and it incorporated a helium escape valve — a feature created specifically for professional divers living underwater (or in pressurized environments) for extended periods. It was among the earliest watches to offer this niche feature, along with watches from brands like Doxa.
Though it offered generally badass appeal even to the casual consumer, the Sea-Dweller was developed for specific technical use. Various organizations at the time of its creation were experimenting with saturation diving, and watches were among the necessary equipment for that dangerous pursuit. The problem that the Sea-Dweller aimed to solve was that helium in the pressurized environment divers lived in would enter the watch and then pop the crystal off when decompression caused the molecules to expand. Rolex patented the valve designed to expel the gas, and this feature (along with an extreme depth rating) differentiates the Sea-Dweller from its dive watch sibling, the Submariner.
Whether you’re interested in collecting vintage Sea-Dwellers or just want the most solid modern Rolex dive watch you can get, you’ve come to the right place.
Rolex Deepsea - Oystersteel Rolex
Rolex Sea-Dweller Collector Terms to Know
Single Red: The earliest prototypes had a single line of red “Sea-Dweller” text on the dial. They’ve become well known due to their rarity and resulting high auction prices.
Double Red: Also called DRSD for Double Red Sea-Dweller. The earliest production models had two lines of red dial text — they read: “Sea-Dweller” and “Submariner 2000” in reference to the watches' water-resistance rating of 2,000ft or 610m. They’re not as unicorn-rare as Single Reds, but still tend to be very highly valued.
Mark Dials: Specifically, they are Mark 0 through 7, and they chronologically denote differences in Sea-Dweller dial variations. The lower numbers are older and typically more valued. Those designated 0 through 4 are original dials, whereas 5 through 7 are Rolex replacement dials.
Rail Dial: Now, look closer. Look at the two lines of text “Superlative Chronometer” and, below it, “Officially Certified.” Are the letter Cs of “Chronometer” and “Certified” aligned? If so, you’ve got a Mark 2 and a “Rail Dial,” which carries a premium. Why? Produced for a short time by the Stern Company, Rail Dials deviate from the typical configuration and are rare.
Triple Six: Another name for the reference 16660 (discussed further below).
Patent-Pending: In the context of Rolex Sea-Dwellers, this refers to certain early models that were introduced before Rolex’s helium escape valve patent was approved, and “patent pending” is denoted on the case back. It’s another feature that adds value for vintage Rolex collectors. (Models made after approval say “Rolex Patent.")
Great White: The reference 1665 produced from 1977 to 1983 is called the Great White because its white text replaced red. (Also, it’s a dive watch so, ya know, the shark reference kinda fits.)
Comex: The French company Comex (Compagnie Maritime d’Expertises) was one of the players that pioneered saturation diving, and they commissioned watches from Rolex. Sea-Dwellers that feature the Comex logo on the dial are now so rare that they’re probably too valuable to be worn. These dials are found on references 1665 (Great White), 16660 and 16600.
Gas Escape Valve: A valve which allows helium molecules in a watch case to be vented during decompressing from the pressurized environment used in saturation diving. Also called a “helium escape valve” or “HEV.”
A Sea-Dweller Timeline
1967-1977: Ref. 1665 “Double Red”
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The first Sea-Dwellers were produced in 1967, but not available to the public until 1971. They had the same look and 40mm case of the Submariner but with greater water resistance and the signature gas escape valve. The valve on the side of the case, the text on the dial and the lack of a magnifier lens (cyclops) over the date display would’ve been the primary ways to visually distinguish the Sea-Dweller from a Submariner of the time.
Diameter: 40mm
Water Resistance: 610m
Movement: Rolex 1575 automatic
Price: ~$40,000-$90,000
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1977-1983: Ref. 1665 “Great White”
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The “Great White” marks the Sea-Dweller losing its Submariner branding on the dial and in some sense becoming a distinct line. Other than that, the primary difference between the Double Red and Great White, as their nicknames indicate, is the dial text color — they share the same reference number, after all, so the basic specs and features are expectedly close. For some collectors, however, the difference is significant. A standard Great White might be less valuable than a standard Double Red, but this is where you’ll begin to find rarified variations that collectors covet like “rail dials” and “Comex dials.”
Diameter: 40mm
Water Resistance: 610m
Movement: Rolex 1575 automatic
Price: ~$18,000-$39,000
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1978-1989: Ref. 16660 “Triple Six”
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Some consider 1978 to mark the line between “vintage” and “modern” Sea-Dwellers. With the new reference number, the Sea-Dweller also doubled its water resistance, got a new movement and was one of the first Rolex watches to feature a sapphire crystal (replacing the previously used plexiglass). The new movement offered higher frequency and a quick-set feature for the date, and other small changes included a white date disk, as opposed to the outgoing silver one. The earlier Triple Six examples had the same matte-textured dial as their previous Sea-Dwellers, but later models got a glossy dial like modern Rolex watches, as well as white gold surrounds on the hour markers.
Diameter: 40mm
Water Resistance: 1,200m
Movement: Rolex 3035 automatic
Price: $10,000-$35,000
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1989-2009: Ref. 16600
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The 16600 got an updated movement, but was remarkably similar to its predecessor. Over its 20-year production, it also got a couple upgrades to its dial luminescence: dials that say “T Swiss T” at the bottom use tritium, while a “Swiss dial” means it uses LumiNova, and “Swiss Made” indicates the use of modern Super-LumiNova. This Sea-Dweller was discontinued in 2009.
Diameter: 40mm
Water Resistance: 1,200m
Movement: Rolex 3135 automatic
Price: ~$9,000-20,000
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2008-present: 116660 Deepsea
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If the Sea-Dweller is like a souped-up Sub, then the Deepsea is a souped-up Sea-Dweller. The Deepsea upped the case to a beefy 44mm and its water resistance rating to an impressive 3,900m deep. Its lume is Chromalight, its bezel is now ceramic and its sapphire crystal is 5mm thick. Named in reference to the experimental Deep Sea Special watch Rolex made in 1960, this watch marks the Sea-Dweller evolving into a broader collection containing both standard Sea-Dwellers alongside Deepsea models.
There are four modern variations of the Sea-Dweller today, and two of them are Deepsea models. The first has a black dial, while a second model (released in 2014) has a gradient blue dial to commemorate the 2012 expedition in which James Cameron piloted a submersible craft called the Challenger Deepsea to the bottom of the Mariana Trench. Rolex had made a special prototype Deepsea watch that it strapped to the robotic arm outside the vessel to prove its water resistance. That watch was a whopping 51.4mm wide and 28.5mm thick, but it survived down to 10,908m.
Diameter: 44mm
Water Resistance: 3,900m
Movement: Rolex 3135 automatic
Price: $12,900+
Manufacturer Info: rolex.com
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2014-2017: 116600
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Though the Deepsea seemed to have replaced the standard Sea-Dweller for a few years, Rolex brought it back in 2014. It was familiar and consistent with the previous size, depth rating and movement, but now it featured a ceramic bezel. The 116600, however, wouldn’t last long, perhaps because it was too similar an offering to the Submariner to stand out or justify its price premium to many buyers.
Diameter: 40mm
Water Resistance: 1,200m
Movement: Rolex 3135 automatic
Price: ~$13,300+
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2017-present: 126600
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The current Sea-Dweller is a bold 43mm wide and is offered in two variations: one in a traditional steel case and the other with a two-tone steel and yellow gold case (Rolex refers to mixed steel and gold watches as Rolesor). The inclusion of red “Sea-Dweller” text on the dial is a nod for collectors to the earliest models. It also breaks with 50 years of tradition by including a cyclops (magnifier) over the date window — which is a controversial element on any watch, but more so on a Rolex icon, of course.
Diameter: 43mm
Water Resistance: 1,200m
Movement: Rolex 3235 automatic
Price: $11,700+
Manufacturer Info: rolex.com
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