The sale of a pre-owned Rolex GMT-Master II Reference 116710LN in Perth, Western Australia, highlights the enduring appeal and significant value of this iconic timepiece. This specific watch, LOT #008459, sold privately, offering a glimpse into the vibrant market for luxury watches in Australia and specifically the Perth area. This article will delve into the details surrounding this particular sale, exploring the broader context of the Rolex GMT-Master II market, its value fluctuations, and the various models that contribute to its legendary status. We'll also consider the Perth market specifically and explore why this location is a significant hub for luxury watch buyers and sellers.
The Perth Sale: A Case Study
The sale of the Rolex GMT-Master II Reference 116710LN in Perth, listed as LOT #008459, provides a real-world example of the pre-owned luxury watch market. The fact that it was sold by a private individual underscores the growing trend of peer-to-peer transactions in this sector, facilitated by online platforms and a heightened awareness of the value of pre-owned luxury goods. The use of the Australian dollar (AUD) as the currency further contextualizes the sale within the Australian market, highlighting the price variations that can occur based on location and currency exchange rates. While the exact sale price isn't publicly available, understanding the factors influencing the value of this particular watch allows for a better understanding of the broader market.
The Reference 116710LN, commonly known as the "LN" or "Pepsi" GMT-Master II due to its iconic blue and red Cerachrom bezel insert, is a highly sought-after model. Its popularity stems from a combination of factors: the robust Oyster case, the reliable and precise movement, the instantly recognizable design, and its versatile functionality as a GMT watch. These factors all contribute to its strong resale value and consistent demand.
Rolex GMT-Master II Value: A Complex Equation
Determining the precise value of a pre-owned Rolex GMT-Master II, including the 116710LN, is a multifaceted process. Several key factors influence its price:
* Condition: The overall condition of the watch is paramount. Scratches, dents, and the condition of the bracelet all significantly impact the value. A watch in pristine, unworn condition will command a higher price than one showing signs of wear.
* Box and Papers: The presence of the original box and papers (warranty card, instruction manual) significantly increases the value. These documents provide authenticity and provenance, reassuring buyers of the watch's legitimacy.
* Market Demand: The current market demand for specific models fluctuates. Certain color combinations or limited editions become highly desirable, driving up their prices.
* Year of Manufacture: The age of the watch can influence its value. Older models, particularly those discontinued, can become more valuable over time, especially if they are in excellent condition.
* Location: Geographical location plays a role in pricing. Prices can vary depending on currency exchange rates, local market demand, and import/export regulations. The Perth market, being part of the Australian luxury goods market, will reflect the specific economic conditions and demand within that region.
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