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Do Gold and Two-Tone Rolexes Hold Their Value? Steel vs Gold, by the Numbers

The Crown Index · November 2026

Gold costs a lot more at the Rolex counter. Does it come back when you sell? We compared steel, two-tone and full-gold versions of the same models using Rolex US retail prices and the median of recorded eBay sales over the last 12 months.

ModelReferenceRolex retailTypical salevs retailSales, 12 mo
Datejust 41, steel126334$11,650$14,200+22%474
Datejust 41, two-tone yellow126333$16,900$14,800−12%53
Datejust 41, two-tone Everose126331$17,550$16,000−9%32
Datejust 36, steel126234$10,100$12,200+21%163
Datejust 36, two-tone yellow126233$15,150$13,700−10%30
Submariner Date, steel126610LN$11,350$14,000+23%282
Submariner Date, yellow gold126618LB$50,900$38,400−25%10
GMT-Master II, steel126710BLNR$11,800$17,400+47%256
GMT-Master II, two-tone Everose126711CHNR$20,050$18,800−6%108
GMT-Master II, two-tone yellow126713GRNR$20,450$21,100+3%65
GMT-Master II, Everose126715CHNR$53,100$38,000−28%7
Sea-Dweller, steel126600$14,550$12,000−18%120
Sea-Dweller, two-tone yellow126603$22,450$16,300−27%28

The Datejust 41: $5,250 more, $600 back

The steel Datejust 41 (126334) with a white gold fluted bezel is $11,650 at Rolex and sold for a median $14,200 across 474 sales, 22% over retail. The two-tone 126333 in steel and yellow gold is $16,900, or $5,250 more. Its median sale was $14,800: just $600 more than the steel watch, and 12% under its own retail. The Everose version (126331) follows the same pattern at 9% under.

Steel sells over retail across the line

Every steel model in the table except the Sea-Dweller sells above retail: the Datejust 36 by 21%, the Submariner by 23%, the GMT-Master II by 47%. The full-gold models sell well under: the yellow gold Submariner by 25% and the Everose GMT-Master II by 28%. Both of those have 10 or fewer recorded sales, so the exact figures are rough, but the direction is clear.

The exceptions

Two gold-accented watches hold up. The GMT-Master II two-tone in yellow gold sells about 3% over retail on 65 sales. And the full yellow gold Daytona (126508), $55,200 at Rolex, sold for a median $57,800, about 5% over, but on only 6 recorded sales. Even there, the steel Daytona (126500LN) is in a different league: $16,900 retail and a median $31,900, 89% over.

Why it happens

Steel Rolex sports models and Datejusts are the watches authorized dealers have waiting lists for, so buyers who cannot get one at retail pay the resale market. Two-tone and gold versions are generally easier to buy new, so there is no line of buyers paying a premium, and used prices settle below retail. Our data measures the prices; the waiting lists are widely reported, not something we measure.

What to do with this

Typical sale is the median of recorded eBay sales over the 12 months to October 29, 2026, buyer-paid prices before eBay seller fees, each listing counted once. Rolex retail is the US price on rolex.com, read in October 2026.

Questions people ask

Do two-tone Rolex watches hold their value?

Mostly below retail. In our data the two-tone Datejust 41 (126333) sells about 12% under its $16,900 retail and the two-tone Datejust 36 (126233) about 10% under, while the steel versions sell 21% to 22% over retail.

Is a gold Rolex a good investment?

Rarely, on resale alone. The yellow gold Submariner (126618LB) sells about 25% under retail and the Everose GMT-Master II (126715CHNR) about 28% under. The yellow gold Daytona (126508) is the exception, around 5% over retail, but on only 6 recorded sales.

Why do steel Rolexes sell above retail?

Demand for steel sports and Datejust models runs ahead of what authorized dealers sell at retail, so buyers who cannot get one pay the resale market. Gold and two-tone versions are easier to buy new, so their used prices sit below retail.

Should I buy a gold Rolex new or used?

If you love gold, used usually makes more sense: the discount from retail is already taken. Check the exact reference in Crown Check before buying.