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The Six Most Expensive Rolex Submariner Watches
Discover the unique features and rich history behind six of the most expensive Rolex Submariner watches, where rarity and craftsmanship command staggering prices.
Brief History of Rolex Submariner
Introduced in 1953, the Rolex Submariner debuted as part of a trio of black-dialed, stainless-steel sport watches from the Crown, alongside the short-lived Turn-O-Graph and the enduring Explorer. From its inception, the Submariner stood apart. The inaugural Reference 6204 combined a robust Tonneau-shaped case with a rotating black bezel featuring 60-minute gradations, allowing divers to measure elapsed time underwater. Its luminous hour markers, Mercedes-style hands, and signature “Submariner” text at six o’clock cemented its instantly recognizable identity.
Over the past seven decades, Rolex has refined the Submariner through incremental yet impactful evolutions, while preserving the core design language that defines the model. Crown guards were later added for durability, bezel inserts transitioned from aluminum to ceramic, and luminous materials evolved from radium and tritium to modern photoluminescent compounds. Despite these advancements, each new generation remains unmistakably a Submariner—timeless, functional, and enduringly iconic.
Today, the Submariner stands as a benchmark of design and performance in luxury watchmaking. The following section explores the six most expensive Rolex Submariner watches sold at auction since 2018, examining the unique features, provenance, and craftsmanship that make them among the most coveted timepieces in the world.
Most Expensive Rolex Submariner Watches
| Rank | Model | Notable Features | Price |
| 1 | Rolex Military Submariner Reference 5517 | Issued to British Royal Navy; sword hands, fixed bars, military engravings | $598,000 |
| 2 | Rolex ‘Big Crown’ Submariner Ref. 6538 (“James Bond”) | Large 8 mm crown; gilt dial; no-guard case; iconic early design linked to Sean Connery films | $431,800 |
| 3 | Rolex 'Big Crown' Submariner Reference 5513/5517 | Large 8 mm crown; no-guard case; transitional early model | $366,200 |
| 4 | Rolex 'Milsub' Submariner Reference 5517 | Tritium “T” dial; one of ≈ 1,200 military-issued pieces | $275,885 |
| 5 | Rolex Military Submariner Reference 5513/5517 | Hybrid “MilSub” design with fixed lugs and T-dial | $262,500 |
| 6 | Rolex Submariner Reference 6536/1 | Small-crown model; gilt dial with radium lume | $225,000 |
1. Rolex Military Submariner Reference 5517 : A Stainless Steel Masterpiece Circa 1978, 482,600 CHF
The Rolex Military Submariner was sold for 482,600 CHF in November 2023. The Rolex Submariner was introduced in 1953 and set the standard for sports watches. This particular Rolex Military Submariner was commissioned by the British Ministry of Defense between 1972 and 1976. These Rolex watches featured fixed bar lugs, an oversized 60 minute calibrated bezel, large sword hands, and a luminous dial with an encircled T indicating the use of radioactive tritium. Each Rolex watch was uniquely engraved with a service code (0552), NATO code for diver's watches (923-7697), issue number (853), and the year it was issued (78).
The above Rolex Submariner reference 5517 with its maxi dial is one of the rarest Rolex Submariner Military watches. Only 1,500 examples were made, and less than a third remain. This Full Spec 5517 Rolex Submariner Military featured all MOD specifications and a matching caseback. The MK1 maxi dial was produced between 1976 and 1977 and had larger lume plots. The Rolex remained in excellent condition with strong factory proportions and was gifted to the consignors in the early 2000s by the original owner.
2. Rolex Submariner Reference 6538 “Big Crown James Bond”: A Stainless Steel Icon Circa 1959, 431,800 USD
The Rolex Submariner Reference 6538 “Big Crown James Bond” sold for 431,800 USD in December 2025, securing its position as one of the most significant and collectible Submariner variants ever produced. The reference is celebrated for its oversized 8 mm crown, glossy gilt dial, and clean, no-crown-guard case—design traits that helped define the early Submariner lineage and cemented the model’s pop-culture legacy through its appearances in Sean Connery’s earliest James Bond films.
This fourth-series 6538 from 1959 is remarkably well preserved, retaining its sharp case bevels, original aluminum bezel insert with a vivid red triangle, and a glossy dial with warm, even luminous plots. Offered directly from the grandson of the original owner, it stands among the finest examples of the reference to surface in years—an exceptional specimen of Rolex’s most cinematic dive watch.
3. Rolex Submariner Reference 6538 : The Iconic Big Crown and James Bond Model Circa 1959, 274,000 GBP
The Rolex Submariner Reference 6538 Circa 1959 sold for 274,000 GBP in 2018. The above Rolex Submariner model was introduced in 1955 and became one of the most sought after Rolex Submariner references. Known as the Big Crown Rolex Submariner or James Bond Rolex Submariner thanks to its appearance in the film Dr. No, this Rolex Submariner featured an 8 mm Brevet crown and a slightly thinner case compared to its predecessor. The introduction of the new Calibre 1030 allowed for this design evolution.
The Rolex Submariner reference 6538 displayed several dial variations. This particular example featured the two line 200m=660ft Submariner text on a glossy dial that had faded to a warm coppery brown. The original condition of this lot was further evidenced by the lighter patina on the 6 o'clock index and the red triangle at the zero on the bezel insert. Presented by the family of the original owner, this Rolex watch with a superb tropical dial offered a rare opportunity for collectors.
4. Rolex Submariner Reference 5517 : The Ultimate Military Timepiece Circa 1978, 218,750 CHF
The Rolex Submariner Reference 5517 Circa 1978 sold for 218, 750 CHF in November 2018. This is another Rolex Submariner supplied to the British Military in the 1970s. These Rolex watches were known as Milsubs, designed to meet strict military specifications and featuring fixed bars on the lugs, a fully calibrated bezel, and wider Sword hands. All military Rolex Submariner dials were marked with a letter T above the depth rating, and the case backs were engraved with military issue numbers and the famous Broad Arrow.
The Rolex Submariner Reference 5517 was an exceptional example of the Milsub, preserved in superb condition. The combination of fully calibrated bezels, sword hands, and military engravings made this Rolex watch highly collectible and a fantastic addition to any serious vintage collection.
5. Rolex Submariner Reference 5513/5517 : The Historic Military Double Reference Circa 1974, $262,500
This historic Rolex Military Submariner sold for $262,500 in December 2019. Throughout the 1970s, Rolex supplied watches to the British Military. The above watch, nicknamed the Rolex Milsub as a portmanteau, served as an example of the double reference 5513/5517. The Rolex Submariner Reference 5513 was engraved between the lugs, while Reference 5517 was on the underside of the lug. The case back was further engraved with military issue numbers and the year.
The above 1974 model was one of the rarest Rolex Submariner watches, featuring a black dial, Calibre 1520 automatic movement, and a stainless steel case. The Rolex Submariner came with a stainless steel Rolex bracelet and a case diameter of 42 mm. The impressive condition and provenance of this Rolex Submariner Military made it a highly desirable piece among collectors.
6. Rolex Submariner Reference 6536/1 : An Iconic Sports Watch Circa 1957, $225,000
The Reference 6536/1 Rolex Submariner sold for $225,000 in December 2019. This Rolex Submariner is a prime example of an iconic vintage Rolex sports watch. This particular Rolex watch featured crisp edges on the bezel and crown and well preserved bevels on the lugs, indicating no evidence of polish. The original dial had vibrant gilt lettering on a rich glossy black surface, with the 6 o'clock lume slightly lighter than the rest.
Offered by the descendants of the original owner, this Rolex Submariner had never been auctioned before. The Rolex Reference 6536/1 with its cal. 1030 automatic movement and 37 mm case diameter represented a fantastic opportunity to acquire a vintage Rolex Submariner in outstanding original condition.
The Rolex Submariner remains an icon in the watchmaking world, with its various references and models highly sought after by collectors. From military issued pieces to limited edition commemorations, each Rolex watch carries a unique history and provenance. Since 2018, auctions have showcased some of the finest examples of the Rolex Submariner, offering collectors the opportunity to own a piece of horological history.
Frequently Asked Questions About the Rolex Submariner
How much is a Rolex Submariner?
Prices for the Rolex Submariner vary by model, material, and rarity. Stainless steel models retail around $10,700, while two-tone and solid-gold versions typically range between $15,000 and $40,000. Vintage or limited examples like the “Red Sub” or COMEX references can exceed $100,000 at auction. Exceptional pieces with unique provenance or rare configurations have achieved six-figure results.
Why is the Rolex Submariner so popular?
The Submariner is celebrated for its timeless design, durability, and heritage as one of the first dive watches water-resistant to 100 m. Its early association with James Bond elevated it to cultural-icon status. The combination of technical performance, aesthetic balance, and brand prestige makes it one of the most recognized watches in the world. Decades of continuous production and collectible variations ensure enduring appeal among enthusiasts.
What is the difference between a Rolex GMT-Master and a Submariner?
Though similar in design, the Submariner is a dive watch built for underwater exploration, while the GMT-Master was created for pilots and travelers. The Submariner features a unidirectional bezel for timing dives and is water-resistant to 300 m. The GMT-Master includes a 24-hour bezel and extra hand to track multiple time zones, often in vibrant “Pepsi” or “Batman” colorways. Both share Rolex’s signature craftsmanship, yet serve distinctly different functions.
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