The Vault › All references › Submariner
Submariner · 2003 to 2010
“Kermit”
Grade A · 87/100Today's call: Buy
A: strong buy-and-hold. Ranked #10 of 129 references in The Crown Index vault.
| Original retail (2004) | $5,400 |
|---|---|
| Market today | $14,000 – $19,500 |
| Vs original retail | +210% |
| 1-year trend | +6% |
The 50th-anniversary Sub with a green aluminum bezel over a black dial. Early 'Flat Four' bezel examples (flat-topped 4 on the 40 marker) are the ones collectors chase.
From $5,400 retail to a mid-teens market: a 3x return for anyone who kept the stickers on.
The 50th-anniversary Kermit: green aluminum bezel over a black dial, a combination Rolex had never tried. Early 'Flat Four' bezels, where the 50-minute marker's 4 has a flat top, now trade like separate references.
It was mocked at launch in 2003 as a gimmick. Twenty years later it's the affordable entry to anniversary Subs and the Flat Four hunt is one of collecting's great cheap thrills: check the bezel before the seller does.
Our verdict: Anniversary pieces age beautifully. Verify the bezel insert is original before paying Flat Four money.
| Sizes | 40mm |
|---|---|
| Case & bracelet material | Oystersteel (stainless) |
| Factory bracelet | Oyster |
| Factory bezels | Green aluminum (50th anniversary); 'Flat Four' bezels carry a large premium |
| Notable dials | Black |
| Caliber | 3135 |
| Production | 2003 to 2010 (discontinued) |
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