Rolex Submariner ref. 126610LN and 124060LN

The Origins

Debuting in 1953 and released to the public the following year, the Rolex Submariner has undoubtedly become one of the most iconic timepieces of all time. Used extensively by armies like the British Royal Navy and professional diving companies like COMEX, the Submariner set the bar for nearly every dive watch that followed due to its incredibly robust and timeless design. Today, its popularity knows no bounds as it continues to reign supreme as one of the most iconic watches on the planet, and perhaps one of the most sought-after and in-demand stainless steel sports watches you can get your hands on. Of course, with over 70 years under its belt, the Submariner has undergone a long and storied evolution, but the references that we have today are its most classical form, at least in a modern context, the Submariner Date ref. 126610LN and the so-called ‘no-date’ Submariner ref. 124060LN.

Released in September of 2020, the new Rolex Submariner collection included three new stainless steel references, two of which are the ones we are looking at today, that ushered in a new era for the iconic collection. While the design changes were subtle, they ultimately made the Submariner a more refined piece on the wrist, and boosted the collection’s popularity beyond what was thought possible. Reminiscent of the five-digit Submariners of old, this marked a return to form for the Submariner with collectors thoroughly happy with the changes. 

The Case and Dial

Boasting the same black Maxi-dial as always, both the ref. 124060LN and its dated sibling, the ref. 126610LN retain the Submariner’s iconic display with its circular 18k white gold applied indices and 18k white gold hands. However, one subtle change that the new Submariners introduced to the collection was a new hour hand with a broader base, thus enlarging its presence and giving Rolex more room to apply their signature Chromalight lume. 

This broadened hour hand subtly suggests the range of changes that the new Submariner collection ushered in when compared to the old references. Beginning with the case, the new collection features a 41mm diameter case, 1mm larger than the outgoing references’ 40mm case. In addition, the bracelet has been widened so the lug distance is 21mm instead of 20mm, giving the watch a more balanced stance on the wrist. However, Rolex understood the importance of refining the Submariner’s shape, and so the new collection features more elegant and shapely lugs that ditch the previous collection’s boxier design and are more reminiscent of the five-digit Submariner’s lugs. As a result, the new 41mm Submariner collection wears with a more balanced presence on the wrist that is rather sleek and elegant.

The Movement

As with any ref. 12xxxx model from Rolex, the new Submariner collection features the latest generation of movement that Rolex has to offer, the automatic cal. 3230 in the ref. 124060 and the cal. 3235 in the dated models like the ref. 126610. Boasting an impressive power reserve of 70 hours, these two movements also include Rolex’s Parachrom Hairspring, Paraflex Shock Absorbers, and a Chronergy Escapement with Optimized Energy Efficiency, all of which makes them both truly robust and capable movements that are equipped for just about everything you can throw at it.

Celeb Love

As one might expect, given the Submariner status as a true icon, the new ref. 124060, and the ref. 126610 have been favourites amongst celebrities ever since their debut in late 2020. Given the Submariner’s impressive water resistance, robust construction, luxurious craftsmanship and hard-to-get air of exclusivity, celebrities have flocked to this timeless classic. 

In rather unsurprising fashion, of the two black bezelled references, the ref. 126610 is the more popular given its inclusion of a cyclops date bubble leaving no ambiguity as to what watch the celebrity is wearing, at least for those who know what to look for. However, that is not to say that the ref. 124060 hasn’t been popular too. Afterall, celebs like Tom Hardy, Joe Rogan and Bruce Springsteen have been spotted wearing the more humble of the two models. On the other hand, the ref. 126610 has been spotted on the wrists of celebs like Keanu Reeves (who famously surprised each of his stuntmen in John Wick with an engraved ref. 126610 for their hard work on the movie) along with others like Antonio Conte, Will Smith, and plenty of others. 

Market Performance

Given its incredibly popularity, intensely timeless design and simply otherworldly status as a horological icon, the Submariner has, and always will be, a popular watch for collectors to want to add to their collection. Of course, there is a discrepancy between the popularity of the ref. 124060, and the ref. 126610, but both models trade for over their retail price and boast long waiting lists from ADs that span into the years. 

Slightly more accessible in terms of waiting list and MSRP, the ref. 124060 commands a smaller price premium than the ref. 126610 of 35% versus the ref. 126610’s price premium of 46%. While this 10% difference might seem small, when you consider the ref. 126610’s MSRP is $10250 instead of the ref. 124060’s MSRP of $9100, it actually results in quite a larger discrepancy in market value, with the ref. 126610 commanding a market value of $15000, a sizeable jump from the ref. 124060’s market value of $12250.

In addition to its weaker valuation, the ref. 124060 also lags the ref. 126610 in terms of performance over the last 90 days, with it seeing a 1% drop in the last 90 days, whereas the ref. 126610 has only lost 0.1% in the same timeframe, showing that the ref. 126610 is certainly the more popular and liquid of the two models, granted the ref. 124060 is no slouch when compared to the general performance of the market. 

Check out the live performance of Rolex Submariner ref. 126610LN and 124060LN on The Wristcheck Index