Indeed, the market for the vintage Sport Rolexes has risen dramatically, with the Antiquorum Auction (in a couple of days) ready to add fuel to the fire.

One thing that I have noticed, however, is that as the Cosmographs and Daytonas are changing hands -- and the following is merely an illustration, only for purposes of this discussion -- in the $30K to $100K range (at the extremes), and the COMEX and best Submariners and Seadwellers moving in a similar band, there are many collectors who like to have some "fun" with the vintage Heuers at 10% of these levels ($3,000 to $10,000). Maybe the Rolex guys are re-investing their gains in lower-price market, and maybe some lose the stomach to wear $100K watches, but I am seeing some of the Rolex guys "dabbling" in the Heuer market. In the Heuer world, they can have good fun for $5,000, where this amount will not buy you any type of Rolex chrono.

And if you really want to start a flame war on the vintage Rolex forums, post a picture of a beautiful Carrera, and ask them whether it is legitimate as a "poor man's Daytona". A couple of participants went histerical fighting this idea (and posted their crazy-looking Tudors); most of the Rolex crowd supported the proposition that the Carreras remain undervalued beauties!!

Jeff