To be honest, the Rolex in stainless steel on the wrist – it is very cozy to wear, even though it is a replica. We have talked a lot about the model before on HODINKEE, specifically the Bao Dai, these two rose gold “Stelline” dial versions that came up for auction a while back and one or two that have come up at Phillips previously. However, it is crucial to note that none of these examples are steel. Only a single watch like that has appeared on HODINKEE before, and it’s owned by Jason Singer, as seen in his Talking Watches video.
A yellow gold “Stelline” replica
This model was made in yellow gold, rose-gold, and stainless steel, with two-tone silvered dials and sometimes, in rare cases, black ones. The gold models featured a large number of dial configurations ranging from the “Stelline”, diamond indexes (like the Bao Dai), and the 3-9 configuration. The steel model only featured two-tone silvered dials with the 3-9 Arabic numerals in steel or yellow gold and luminous alpha hands.
The complications include the moonphase, the date, which is indicated by the outer chapter ring, and the day and month which are displayed in twin apertures at 12 o’clock. The watch itself is chronometer certified and this is indicated underneath the day and at the month. In some cases, like the Bao Dai, the “Chronometer Certified” is located in the sub-dial at six o’clock. The case is your standard 36mm Oyster case with screw-down case back and inside is the automatic Rolex caliber 655.
The steel fake watch gained traction in the 1980s when Japanese collectors started scooping up the really good examples. These watches were later sold to European dealers and collectors in the late 1990s, which later still showed up at auctions over the past decade. It is really tough to find a good example which has maintained both its condition and originality (remember, condition is king with vintage Rolex).
So, consider if it, the model has only come up at auction a handful of times in the past 10 years. Now, this may seem like a large spread, because well, it is. As far as I am concerned, the real reason for the pricing difference is again condition, originality, and the relative strength of the market at the time of the sale.
The vintage replica Rolex market has been incredibly strong for the past five years, with the cost of ultra-rare references and models with unique dials creating a buzz in the market. This applies to the steel model too, but in my mind, I have to say that the cost of this watch comes down to quality and rarity. It’s the good ole’ “find me another” situation – there are so few in really top condition that when a good example comes up for sale, a prospective buyer is going to have some serious competition and doesn’t really have another option if they want to purchase the watch.