Brooks Koepka Wins 2018 U.S. Open

Brooks Koepka 

Wins 2018 U.S. Open

Rolex SEA-DWELLER

Brooks Koepka did it again! Brooks won the 2018 U.S. Open Golf tournament as he did last year, and this time he chose to wear his Single Red SEA-DWELLER.

What Is Going On With Rolex Supply?

...Separating Fact from Fiction...

What Is Really

 Going On With

 Rolex Supply

Is it possible to know the number of 

Angels dancing on the head of a pin?

Back in the mid-1980s, I remember when I would visit different Rolex Authorized Dealers, they would typically have EVERY Rolex model on display, under the glass case. Fast forward to today, and depending on where you live, many ADs will still have a wide selection of Rolex models, but you may notice their selection of professional/sports models in all stainless steel is almost non-existent. 

In the photo above we see there are zero all-stainless steel Submariner, GMT-Master or Sky Dweller models, and in the photo below we see there are zero all-stainless steel Rolex Daytona models in stock.

If you are a regular reader of Jake's Rolex World you are likely aware of the huge supply shortage of many Rolex sports/professional models at retail in many parts of the world. If you visit many different Authorized Rolex dealerships you just can't help notice a lack of stainless steel Rolex sports models, like the Submariner, GMT-Master, Daytona, and Explorer II. I recently visited a local Rolex AD, and the only all-stainless steel Rolex sports watch they had in the display cabinet was a black dial Explorer II. Captain Danny recently published a story on this subject titled: "Vintage Rolex Special: Pivoting to the Vintage Market."

"A cynic is a man who knows the price of everything and the value of nothing." 

—Oscar Wilde [1892]

Many readers are confused and have been asking me what is going on? I noticed A LOT of people speculating online about what is occurring, which often results in false-narrative conspiracy theories. As a result, I would like to take this opportunity to separate-the-fact from-the-fiction and share and delineate what I believe is really occurring.

Yesterday, a very long-time reader from the U.K. wrote in and asked me about this subject. After responding, I asked his permission to share his email with you, so long as I redact his name and some details. He graciously agreed. Below is his email I received on June 14, 2018

Dear Jake

I want to know what are your thoughts on the matter of Rolex waiting lists? Currently, they are more than a decade for a Daytona White dial, 3-5 years for any steel professional models. Some ADs are not even taking orders as the waiting lists are ridiculously long. One AD in XXXXXX refused to even take my name down. 

I have thought deep & very hard to analyse this myself. One thing is clear - Rolex hasn’t reduced their production. So it’s not a matter of supply: demand disparity. Certainly with China cracking down on corruption has dried up the huge Chinese market & the economic meltdown in the west has brought down our buying power. Hence overall the demand has gone down. Which I think is the main reason, paradoxically, the cause for the long waiting lists. Let me explain, it has come as a shock, but it’s true:

Rolex needs to survive the second biggest threat in its history, since the quartz watch, i.e. the silly ugly little “smart” watch. Note the brag by Tim Cook “Apple has sold more Apple watches than the entire Swiss watch industry”. The timing of this couldn’t have been more coincidentally inopportune. It’s a double whammy for Rolex. 

Rolex has a certain number of watches the ADs need to sell for the cash flow to happen. Likewise, the ADs need to sell a certain number of watches to keep their Rolex ADship.

Hence the ADs are keeping themselves afloat (at least this is what they are doing in the UK) by selling to the grey market. You go to Watchfinder.com (now bought by the Richemont group & a very clever move) & you can buy any rare to find Rolex less than a year old. These are all AD shocks sold to the grey market. The ADs are no longer that keen to sell to an individual as they are under pressure by such big grey market companies to mop up their stock. I suspected this all along but when I saw this YouTube video I realised I was correct all this while:


My AD in XXXXXXXX told me he will sell me another Rolex only if I bought a datejusts from him first!

I have even heard that Rolex is buying back from the ADs their unsold stock of datejusts to melt them down back into their metals to keep the price point up. 

The waiting lists have become ridiculously long only since all the above economic problems started. 5-6 years ago one would have to wait a maximum of a month or two. Now, none of the ADs have steel professional models on display. Only datejusts. 

You go to all the Rolexforums & they are all these simple folk who are totally ignorant of all this sleazy world of Rolex dealings. 

Kind regards

XXXXXXXX

I responded to my reader's email above by saying:

Hi XXXXXXX,

I am working on a story about this Supply & Demand issue, which is confusing many people. From everything I have seen, and I have seen a great deal, Rolex demand is at an all-time high!


It is a fact there are far more millionaires in the world today, and the middle class of almost all countries has been growing quickly. These customers drive demand. Rolex is obviously aware of this but it is not easy for them to expand as Rolex watchmakers are very highly trained—so they can’t just hire a bunch of people and expand overnight. Also, in order to expand requires new buildings and equipment. 

Don’t forget Rolex makes around 800,000 watches a year to a -2/+2 standard which is quartz-like precision in a mechanical watch. This is roughly 70,000 of each key model per year. Yes, they could just make sports watches, but that is not how their factories are set up.


Further, I believe the Apple Watch has had the same effect on Rolex the 1970s Quartz Crisis had. In other words, I believe Rolex is the ultimate beneficiary of Apple watch popularity. I had a friend contact me a few weeks ago and say, “This stupid Apple watch I bought a couple of years now can only make it through a half day before running out of charge. I think it’s time to step up to a Rolex, which will never have these issues. Plus, I realize the Rolex will likely increase in value over time, where if I buy a new Apple watch it will depreciate and quickly become obsolete."

Hope this helps :-)

Warmest regards,


Jake

The Truth About Rolex Demand

“The vision recurs; the eastern sun has a second rise; history repeats her tale unconsciously, and goes off into a mystic rhyme; ages are prototypes of other ages, and the winding course of time brings us round to the same spot again.” 

—Mystic Rhyme 1845

On Jake's Rolex World, I specialize in separating fact from fiction, as well as busting false myths.  There has been a tremendous amount of conjecture, hypothesis, hyperbole and false narrative spewed forth into the world about why Rolex sports watches are so hard to find at retail these days. In this vacuum, people have speculated and made things up—some of which seem logical until you dig deeper.  In it important to not believe everything you read, or that people say. I encourage anybody reading this to form your own opinions and think for yourself.

Below is a comprehensive list of reasons I believe—in my personal opinion—there is a crazy demand for stainless steel Rolex watches:

1. Growing Middle Class: In my email response above I mentioned the significant recent growth of the INTERNATIONAL middle class. It is important to understand the power of Rolex is and always has been more with the middle class than the upper class. In other words, Rolex is a highly aspirational brand and as a result remains relatively affordable. Compare this to a brand like Patek Philippe, which is considered to be a high-end brand. Basically, if Patek Philippe is the Rolls Royce of watches, Rolex would be the Mercedes-Benz of watches. In other words, there are many more people today that strive toward owning a Mercedes than a Rolls Royce.


2. Increase in Millionaires: There is a significantly growing segment of millionaires in the world today. Couple this with the fact Rolex is THE Category leader in a fundamentally dying category. As a result, more people can afford to purchase Rolex watches. This increase in millionaires is not only in first-world countries like the United States but in places like Indonesia and Africa. Speaking of a growing middle-class, the Chinese marketplace has been growing by leaps and bounds. 

Bloomberg came out with a story yesterday discussing this very subject which you can see below:

Millionaires Now Control Half of the World's Personal Wealth.



3. Rolex heavily Invested During The Last Economic Downturn: Rolex consolidated heavily under the leadership of former CEO, Patrick Heiniger. In doing so they purchased many of their suppliers and evolved into a fully vertical organization. Essentially this gives Rolex complete independence from just about any and all manufacturing and market conditions and makes them largely immune to market trends.


4. Rolex Embraced The Digital Age Early On: Rolex made a very good digital transition as they understood early that the future was online. This is significant as Rolex historically seemed to not only detest change but also initially ran for cover when the internet began the new information age. Rolex had two choices early on. They could either embrace a new era of openness or bury their head in the sand. Rolex chose the former, which was likely not their natural historic choice. 

Rolex spends way more money on an enhanced digital presence than any other watch brand. This is genuinely remarkable as Rolex is able to intelligently occupy digital space while remaining true to their heritage and who they are. This adroit approach significantly contributed to Rolex staying relevant while reaching a MUCH broader audience.



5. Not increasing supply capacity which could have a negative effect on quality—The Rolex Rule Book: Rolex is FANATICAL about quality and precision and to this day has remained true to Rolex founder, Hans Wilsdorf's original vision of making the best watches possible. The best way to understand this hyper-focus is to examine the Rolex Superlative Chronometer Certification Standard which Rolex imposes upon themselves. This is really nothing new or genuinely surprising for Rolex as the classic vintage 1960s Rolex ad seen below stands testament to this fact:

Also, it is important to take into consideration Rolex's standard not only guarantees new watches will keep super time between -2/+2 seconds per day, which is AMAZING for a mechanical watch, but they also include a 5 years international warranty. Talk about a company that stands behind its product!

If Rolex wanted mass-produce watches like Apple, they could but it would likely result in having to make Rolex in other countries beyond Switzerland. Rolex, first and foremost is a Swiss company, through and through. If Rolex woke up tomorrow and decided to make twice as many Submariner models in order to meet demand, it would likely result in creating a glut in the market which would not benefit the market, the customer, nor Rolex. 

This is where it is very important to understand Rolex's model taxonomy. Rolex makes 12 different core series of models as delineated below:

         
          • Submariner
          • SEA-Dweller
          • GMT-Master
          • Daytona
          • Milgauss
          • Datejust
          • Day-Date
          • Yacht-Master & Yacht-Master
          • Explorer & Explorer II
          • Sky-Dweller
          • Air King
          • Cellini

This taxonomy or classification when broken down mathematically, and yes this is a complete conjecture, but bear with me :-) make much sense and illustrates my point. Let's divide the number of Rolex models/classes (12), by the annual output of 800,000 watches. With my hypothetical argument, this would mean Rolex would make a little over 65,000 watches per model, per year. If Rolex decided to double Daytona supply, then it would cut into other models, and as previously mentioned, would likely end up with a huge market glut. In other words, Rolex is not going to stop making Datejust models so they can make more Daytona models.

Think of Rolex as being like BMW or Mercedes with their classification system. If BMW only made 3 Series, or if Mercedes only made E-Class models, it would be a huge mess. Mercedes is just like Rolex as their cars range from C-Class, E-Class, S-Class, G-Class, Maybach, AMG, even into heavy-duty trucks. It is important for any major brand to maintain a typology matrix of choice and options.

Keep in mind Rolex in NOT a marketing company. Unlike most other companies in the world, Rolex is NOT in business to try to fulfill demand with supply. Rolex is owned by the Hans Wilsdorf Foundation, which is a non-profit organization that donates a significant portion of its proceeds to charity. In other words, Rolex is so wealthy as a company, they don't need to cater to the marketplace in any way.

As previously mentioned, Rolex produces around 800,000 watches per year today which is not trivial, but this wasn't always the case. From the time Rolex began making watches in 1905, it took them a half-century to make the number of watches they make in one year today as witnessed by the Rolex ad seen below which was originally published in 1960. That is REALLY profound if you think about it; the fact they make more Rolex watches annually today than they made in total for their first 55 years in operation!

6. Fluidity with the Grey Market: The grey market, in case you are not familiar, would be non-Authorized Rolex dealers who resell current new models. It can be argued the grey market perfectly represents the perfect supply and demand components of the marketplace. A new Pepsi GMT-Master recently sold for double the retail price on the grey market and many people cried foul. But wait a minute, if there is a person who is willing to pay such a premium to be one of the first people on earth, so be it. In other words, the grey market is based to a large extent on supply and demand, which is the cornerstone of capitalism. 

As a result, such a marketplace really keeps things in check. I know that movie studios are experimenting with offering movies online at the same time as they hit the movie theaters but at a higher price. Rolex has never done anything like this, but one could argue that perhaps they should. Rolex also does not sell their watches online. It is believed they don't sell online since they want to protect their dealer network, but one could suggest in order for Rolex to really immerse themselves into the digital/internet age, they should offer their watches for sale online. 

The logic would be that buyers would conveniently and efficiently purchase online, and a local Rolex Authorized Dealer would answer any questions and hand-deliver and fit the watch. This way Rolex would not be stepping on their dealer's toes. It's highly paradoxical and a profound irony if you think about it, that you can buy a Rolex from just about any watch reseller online, with the exception of Rolex.com!?!!


7. Strong Desirability: Let's face it: Rolex watches are beautiful objects of art that people all over the world love and lust after and trust in. Rolex is like an international currency in-and-of-itself. Rolex represents The International Mark Of Success. 


8. The Apple Watch Effect—A Rising Tide Lifts The Rolex Ship: In my email response to my reader seen at the top of this story I mentioned I believe Rolex is the ultimate beneficiary of the Apple watch phenomenon and here is why: 


“I don’t look at watches for their relationship to popular culture, which I know is so much of the fun – but rather as somehow the distillation of craft, ingenuity, miniaturization, and of the art of making.” 

—Jony Ive, 2018

Rolex was part of a Swiss consortium named Centre Electronique Horloger (CEH) founded in the second half of the 1960s to explore miniaturizing quartz clock technology so they could put it in a wristwatch form-factor. This consortium consisted of many different leading Swiss manufacturers including Bulova, Omega, Patek Philippe, Rolex, Jaeger-LeCoultre, and Zenith. 

In 1967, the consortium produced their first quartz watch movement which was called the Beta 1, which was entered into the International Chronometric Competition in Neuchâtel, Switzerland. The Beta 1 movement incorporated a quartz crystal that resonated at 8192 Hz, which had a unique feature of 'dead-beat-ticking' which means the second hand would jump one step per second, which is the way most modern quartz watches still operate today.

The Japanese watch company Seiko surprised the world when they leapfrogged the entire Swiss watch industry by coming out with their Astron Quartz watch in 1969. This resulted in what is commonly referred to today as The Quartz Crisis. The Japanese flooded the market with cheap quartz watches, and as a result, devastated the Swiss watch industry that was not prepared to compete in this new arena. Approximately one-third of the Swiss watch industry was devastated and never recovered. In other words, many Swiss watch companies went out of business. The irony is that Rolex was not affected at all by this crisis, and paradoxically, became the ultimate beneficiary as it gave Rolex the chance to consolidate their market position.

The supreme irony is the Apple Watch created a second swiss watchmaking crisis, very similar to the first—and once again Rolex has been the ultimate beneficiary. I believe there are two reasons for this phenomenon. First, Apple, with its amazing technological prowess reinvented what a smartwatch could be, and in doing so called a lot of attention to the watch market in general. People who were not even into watches were suddenly exposed to watch culture. This awoke a natural curiosity, as well as focus on the wrist. Don't forget it was Rolex that made the first Smart Watches, with models like the GMT-Master which could keep time simultaneously in three time zones back in 1955.

Apple watches are very cool and innovative in many ways, but they are also faced with many limitations and challenges, including a lack of history and status. Also, they don't age nearly as well as most Rolex watches. More importantly, they are challenging as they have to be charged on a daily basis. Also, over time the battery capacity diminishes and it is expensive to replace the battery. Rolex watches are kind of the opposite in the sense they are built to last. With a Rolex, it just keeps running indefinitely as long as you wear it. While a three-year-old Apple watch is on its way to becoming obsolete, a three-year-old Rolex is typically just like it was when it was new. Many people likely get sick of Apple and want something different or more enduring after a while.  


9. The Internet: People are talking. Websites like Hodinkee, Jake’s Rolex World, a Blog to Watch and online forums have increased awareness of the world population significantly. As a result, an increasingly larger number of people are exposed to the world of horology. In turn, this creates more knowledgeable and passionate brand ambassadors as well as loyalists. In other words, if a user goes to Google and does a search, they can now spend many hours immersing themselves in the details of Rolex's amazing history. 

Since Rolex's history is so deep, meaningful and profound, a new generation of Rolex brand evangelists has been spreading the tremendous value proposition of Rolex all over the world. Jake's Rolex World alone has the equivalent of many dozens of books worth of Rolex history, that can easily be accessed for free on any smartphone almost instantly.


10. Rolex Is A No-Brainer: Everyone knows Rolex is one brand where you’ll retain value and quite possibly earn money in the long run. People don’t want to lose money, and they perceive Rolex as a safe investment. Especially with Rolex sports models, if you think about it, owning a Rolex is almost like getting paid to wear it as you will likely be able to sell it if you hold it long enough for more than you paid. Very few things in this world endure like a Rolex.


11. Reputation Institute: The Reputation Institute ranks international brands from 1-100. Rolex has maintained the NUMBER 1 Position for the past three years running according to the Reputation Institute. This puts Rolex above Apple, Mercedes, Coca-Cola, Louis Vuitton, BMW, Nike, Google, Sony, Amazon, as well as many other trusted brand names. Arguably this ranking makes Rolex the most prestigious brand in the world, or as I alluded to earlier, Rolex is THE International Mark Of Success.


12. The torch has been passed to the next generation with a new Rolex CEO who gets it: Jean-Frédéric Dufour took the helm at Rolex in May of 2015 and is more open and more aggressive in a typically quiet Swiss kind of way than his predecessors. 

The very aggressive expansion of the Tudor brand is a great example of Dufour's shrewd, adroit, resourceful, intelligent approach. While Rolex retail prices have continued to increase, the Tudor brand, which is owned by Rolex offers vintage Rolex style watches at typically less than half retail price of Rolex. Ironically, Tudor is now competing very successfully in the marketplace with brands like Omega and Panerai.

The Tudor Pepsi Black Bay GMT pictured above was introduced at Basel World this year and retails for only $3900, which is far more affordable than the new Pepsi Rolex GMT-Master which was also introduced at Basel World, which retails for $9.250.

The video below offers a pretty comprehensive and insightful overview of the significance of the new Tudor Black Bay GMT.



Jean-Frédéric Dufour in many ways represents the fact the torch has been successfully passed to the next generation. I think the quote below is perfectly on-point and sums up this notion: 

"Progress doesn't saunter into the world; it staggers. Grown-ups don't often change their minds about the important political and social questions of their time. Change arrives because their children are born into a whole new set of assumptions different from those of their parents." –Stephen Marche

13. Value Proposition: People have become increasingly more value conscious, and the internet has contributed significantly to this. A prime example would be the fact Paul Newman's Daytona recently sold at Phillips Auction House for $17.8 Million. Everybody and their mother heard about this, and the interesting backstory is that Paul Newman's wife, Joanne Woodward purchased his Rolex Daytona watch for around $200 back in 1972. Talk about an amazing ROI. Even if the average Rolex owner knows they can't realistically expect to get anywhere close to this kind of return, it still resonates in the back of their mind. The reality is Rolex watches maintain their value much better than most things in this world.


14. Inheritance: Since Rolex watches endure better than just about anything else in our world, many people buy Rolex watches to pass down to the next generation, as they believe they will likely increase in value over time as a family heirloom. Nobody buys an iPhone or car thinking this will occur. A great parallel to Rolex is likely residential real-estate. As populations grow in cosmopolitan cities around the world, home prices rise. Same thing with Rolex...More educated world populace equals more demand for Rolex watches. It's that simple...


15. Rolex spends more than any other watch company on advertising: If you look closely, you will see Rolex ads everywhere. In magazines, online, on billboards, on TV, at the Oscars. Also, there is not a week of the year that goes by, without a Rolex sponsored event occurring somewhere in the world. It could be a tennis tournament, like Wimbledon, or an Equestrian event, or a Formula 1 race, or a Sailboat race, or the fine arts. Often times multiple internationally sponsored Rolex events take place concurrently. This omnipresent advertising pedigree comes from Rolex's founder, Hans Wilsdorf and is ingrained in their DNA.

16. The Counterfeit Rolex Market: I don't speak much about fake Rolex watches on Jake's Rolex World since I dislike things and people that are not authentic. That being said, I feel obligated to point out that the counterfeit Rolex market has played an extreme role in the popularization of Rolex. Most fake Rolex watches are made in Asia, and the higher-end ones are made in other countries like Italy.

It is likely that China probably makes an order of magnitude more Rolex watches per year than Rolex, and have been doing this since the 1970s. In other words, if Rolex makes 800,000 watches per year, the Chinese make more than 10 Million per year. You would assume this would be a bad thing for Rolex, but I would argue that this has likely served Rolex well. How so, you ask? Fake Rolex watches have exposed many, many people to timeless Rolex design language that probably could not have afforded to by them. Don't forget, Rolex is an aspirational brand, so over time many people who bought and wore fake Rolex watches strive toward and perhaps one day end up purchasing a real Rolex.

This is perhaps most prevalent in China. When the Chinese started making counterfeit Rolex watches, it was in the late days of the Communist state. [Don't forget that the Chinese basically invented capitalism. Think Marco Polo trading spices and gunpowder and pasta with the Chinese in the 11th Century.] As China returned to a capitalist economy, their middle class began growing quickly, and as citizens got wealthier they wanted to distinguish themselves by doing things like wearing a real Rolex. This explains when Rolex is so popular in China today. A trend I believe will continue as the Chinese are very status conscious.


17. Longevity: It is a fact people are living much longer than they were even a half-century ago. This increased average life-span is due to many variables like improved diet, as well as advancements in medicine. Also, the human population has increased dramatically over the past century since Rolex was founded. As a matter of fact, when Rolex introduced the Submariner model in 1953 there were 2,677,230,358 people on earth. Contrast this with the fact that today there are 7,632,819,325 humans on earth, and you guessed it. higher population equates with higher demand. Also, if you compare the build quality of a 1953 Rolex Submariner with a 2018 model, there is a night-and-day differene in the sense the modern Rolex will be built like a tank. This reslults in newer Rolex watches lasting even longer, and perhaps switching wrists less.


18. Timeless Design: We live in an increasingly polarizing world that seems to be rapidly changing, which is why people gravitate toward timeless design and the notion of simpler nostalgiac times. There is really something to be said for timeless design for which Rolex is an icon. Have you ever wondered why watches sold at auction, or just about anything else sell for what they do? In other words, why do Patek Philippe and Rolex auction results typically dominate the top of the sales curve pricing? It has to do with how timeless the designs are. 

I'll give you a great example. In April of 2011 Christies Auction House sold a 38MM 1943 Patek Phillipe Perpetual Chronograph [Reference 1527] for $5.6 Million which is pictured below. 

So why would anybody in their right mind pay $5.6 Million for this watch? Because of its unusually timeless design characteristics. Think about it for a second. This magnificently complicated watch was designed an made in 1943, which means it sprang to life in the middle of World War II. It was also unusually large for its era, but since watches evolved after that point to get larger, it makes this Patek Philippe more relevant today.

This Patek Philippe is like Cary Grant in the sense that if the man in the photo below from the 1950s got in a time machine and traveled to today, and showed up in a corporate boardroom, he would look perfectly in place. This is a very rare characteristic, which is more an anomaly or fluke, but it governs value proposition. In other words, the more something or someone can transcend time, the more valuable they are to society.

If Patek Philippe's best watches were a person and they would be Cary Grant, who would Rolex be? In my opinion, I would say Rolex watches would be JFK. JFK had a definite MAD MEN, super clean-cut timeless aesthetic as seen in the photo below. 

Let's get in the Rolex Time Machine and travel back to the early 1950s to add perspective. In the early 1950s, Art-Deco had evolved as a design language, based upon a world that sought and appreciated absolute simplicity, coupled with bold, clean lines. The 1950s saw Art-Deco evolve into a late, and mature stage of know as Populuxe. Populuxe design pervaded all countries of the world and was a conjunction of the words Popular and Luxury.

Just for frame of reference, the photo below shows a 1954 Rolex Submariner, which basically has the same dial as the Rolex watch pictured below it. It is important to examine the historical context of this 'late' art-deco style found in the Rolex watches pictured above and below, and recognize at the time, it was a very modern looking watch.

Now, look at the dial on the current Rolex Submariner pictured below. Notice the Rolex Submariner is and always has been a beautiful piece of serious art-deco design, and remains highly modern and timeless today.

So basically, the Rolex Submariner is one of the serious art-deco wonders of the world, including other outstanding examples like the Golden Gate Bridge, and Chrysler Building. It took me many years to figure out this secret of Rolex design language, but it is made from the same magic that gave President Kennedy and years later, President Reagan their similar timeless, clean-cut, masculine aesthetic.

The current Rolex Submariner pictured above is considered to an ABSOLUTE CLASSIC, and the great takeaway point is that everything considered classic today, was once considered to be modern. 

The photo below of a 5513 Submariner from the 1960s is one of my favorite photos as it shows off the completely timeless aesthetics of Rolex.

The photo below of Jacques-Yves Cousteau and was taken in 1953, and in this photo we see Cousteau wearing a prototype Rolex Submariner which pretty much looks the same today as it did 65 years ago. If you think that is not unusual look at a car from 1953 and compare it to cars today. They look and perform like night and day.

Conclusions

I believe Rolex is well aware of their product shortages and likely doing everything they can to address them. This is obviously a great first-world problem to have. Once again, I must reiterate the fact Rolex is not like Apple, which means with their supply chain they don't try to always meet demand with supply. Rolex simply tries to make the best watches they possibly can.

When there is a void of true, meaningful and logical information on a subject people speculate and make up false narratives which is somewhat understandable. In the final analysis, I believe that all this fake news about Rolex supply and demand is a nothing-burger, fueled by false assumptions. In this story, I have done my best to not only separate the fact from the fiction but also to offer real and meaningful insight into the Rolex marketplace dynamic.

Earlier today I was talking with my great friend and fellow Rolex fanatic, Stan Barrett about this article as I was writing it. In case you are not familiar with Stan Barrett, he was Paul Newman's stunt-double, and he also was the first man to break the speed of sound barrier on land. Stan is the real-deal and he is pictured below as he prepares to drive his Budweiser Rocket Car into the record books in 1979 while wearing his Rolex Daytona and Pepsi GMT-Master.

Stan Barrett is pictured below in a recent photo, and he chimed-in today while I was writing this article and said:

"I am giving away my Fitbit and Apple Watch. — Electronics, technology, and age do now mix well... I want the real thing. My Rolex has never interfered with my circadian rhythm. My Rolex keeps all my secrets. My Rolex can't hear me. Big brother and Big sister (Siri) are 'watching and listening' but it ain't through a Rolex. Rolex is a trustworthy symbol of enduring quality, as well as a trusted friend that would never betray me. Rolex is family."

Stan Barrett is pictured below with his best friend, Paul Newman back in the day...

Update: Stan Barrett read this story and mentioned he thought it was very insightful. Then he added his two cents again:

The Paul Newman Effect

"I believe the reason Rolex sports watches are in such demand today is due to Paul Newman's Daytona selling for such a high price at auction. I believe Paul's Daytona forever changed the value proposition of Rolex and their potential worth forever."

Paul Newman pictured above wearing his exotic dial stainless 
steel Rolex Daytona which recently sold for $17.8 Million

My Advice

People ask for my advice all the time regarding which Rolex to purchase and how much to pay for them. They ask me about new and vintage Rolex watches. Since new Rolex sports watches are becoming increasingly more challenging to acquire I will share my perspective with you.

Buy what you absolutely love. Don't focus on the price you pay, so much as finding a watch you absolutely LOVE. I also advise people to NOT look at a Rolex as an investment vehicle, but as a beautiful, highly utilitarian object that will serve them well for many years. The fact Rolex watches hold their value so much better than many other things in this world is just icing on the cake.

People often purchase Rolex watches as a record or symbol of achievement, and owning and enjoying any Rolex watch is a great achievement in-and-of-itself. So be resourceful, do your homework, research the market and most importantly figure out what you love and can't live without.

The Strange Case Of The Steve McQueen Submariner

The Strange Case Of

The Steve McQueen Submariner?

"Truth is stranger than fiction, but it is because Fiction is obliged to stick to possibilities; Truth isn’t." —Mark Twain [Following the Equator: A Journey Around the World.]

As seen above, Mark Twain once pointed out that 'reality is stranger than fiction', and that is certainly the case with this story. Just when I thought things couldn't get any more bizarre, they did!

BTW, as I write this, the song Axel F from "Beverly Hills Cop" just started playing on my computer, which is probably the best possible soundtrack that is perfectly on-point for this story. So you may want to hit the play button and listen to it as you continue reading. Loren Janes ironically was a stuntman in the Eddie Murphy movie named, Beverly Hills Copy, according to his daughter, Erika Janes...




If you are reading this, chances are you are already familiar with the story I began writing on June 5th, named "Another Steve McQueen Submariner?"

When I first began working on that story I believed the narrative put forth by Phillips press release named "Phillips To Sell Steve McQueen's Rolex Submariner",  as well as Forbes.com article named, "Exclusive: The Secret History of Steve McQueen's Rolex Submariner." 

Being a huge Steve McQueen fan, I thought this was going to be another great chapter I could add to my story titled, "Profiles In Coolness: Steve McQueen, The King Of Cool."

I am typically a very trusting person, but as I began exploring the details in the Loren Janes Submariner story, I noticed what appeared to be gaping inconsistencies. I called my great pal, Stan Barrett on the phone and asked, "Did you know Loren Janes?", to which Stan simply replied, "Submariner!" I believe Stan responded like this since we are both huge Rolex fans.

I read the provenance letter from the story to Stan and he started poking holes in it. Stan knew Loren Janes well and pointed out he strongly believed that Loren was not in many of the movies enumerated in the provenance letter. Stan put me in touch which many people who had worked on those movies, and sure enough, Stan was correct.

On June 6, I interviewed Michael Eisenberg, the current consigner of the watch to the Phillips Auction House in great detail. I also interviewed Loren Janes daughter regarding the history, and she shared some profound details with me. I even spoke with Chad McQueen, who is Steve McQueen's son about this story.

I have also been interviewing many other people regarding this story, and I have to share with you that I am completely stunned by the sheer amount of new information and evidence pouring in. This evidence supports and contradicts all sides of this story. 

This story reminds me of a crazy mystery story. It's like Columbo meets The Hardy Boys, meets Sherlock Homes, meets Rockford Files, meets Perry Masson, meets Daniel Steel. Choc full of intriguing characters, plot-twists, and cliffhangers.


As I write this, the whole story would appear to be a cliffhanger of sorts, so why don't I simply present all the evidence I have collected from both sides of the story and let you, the reader make your own determination? As previously mentioned new evidence and witnesses are pouring in. So quickly in fact, I don't think it would be responsible for me to share what I have unearthed without being able to share ALL the facts. In other words, it is still as much of a cliffhanger for me as it is for you...

I am also surprised by how quickly this story developed, and every time I think it is concluding more intriguing events change the game. This much I can promise you: As soon as I conclude my investigation, I will present all the facts from both sides and let you draw your own conclusion. 

The adrenaline is definitely pumping like it would in any great Steve McQueen movie. I find it ironic that 38 years after Steve McQueen passed away, his legacy is still leading us on an epic high-speed chase.

Another Steve McQueen Submariner?

Loren Janes Submariner

The Rolex Phoenix That Rose From The Flame

Update June 10, 2PM PST: Many puzzle pieces are falling into place in this bizarre Rolex mystery. 

Below is another piece of new evidence in this case that shows Loren Janes Submariner after it was found in the rubble after the fire that burned his house to the ground. The fire consumed everything, and the only item that made it through the fire was Loren Janes Rolex Submariner which is pictured below with serious fire damage. It is remarkable it made it through the fire in one piece.

In the photos above we see Loren Janes Rolex with the severe fire damage. Below, we see Loren Janes Rolex after Rolex U.S.A. technicians were able to successfully restore the watch, which is pretty amazing if you ask me!!!

In the photos below we see Loren Janes house on fire as it burned down.

Loren Janes spoke with his two children before the fire and asked them if there was anything they wanted him to leave them. His daughter Erika said she wanted his Rolex Submariner. Erika told me in an interview: "I mentioned to my dad that I wanted his Rolex Submariner. I wanted it because my dad wore it my entire life. I remember playing and being fascinated with it when I was a young girl. My brother Eric is really easy-going and isn't materialistic at all, and he said, 'sure' that's fine Erika, you take Dad's watch.

After the fire burned down Loren Janes home, everything was destroyed. The fire marshal said nobody should sift through the rubble as nothing could have possibly survived the intense fire exposure. 

Erika said, "Everybody advised against going through the rubble, which was highly toxic. I told my brother, Eric, I wanted to go looking through the rubble for dad's Rolex. He said no, and insisted he would instead."

"My stepmother asked my brother to look through the rubble and see if there was anything that was salvageable. In particular, she was hoping he would find her diamond wedding rin—to no avail."

"After the first hour, it looked unlikely we would find anything. I told my brother to dig where I thought dad's Rolex was likely to be, after a half hour he gave up and said he couldn't find it. I insisted he go back until he found it. In my gut, I knew it was there!"

After another half hour, he walked up to me with his hand out and said, 'I found dad's Rolex for you!" Erica took the photos above and below of her brother sifting through the rubble.

This reminds me of Jacques Cousteau saying, "People protect what they love." Erika loved her dad's Rolex Submariner, and like a phoenix, it rose from the flames and flew back to her.

Just Got Off The Phone with


Chad McQueen

Update June 9, 4PM PST: I just got done speaking with Chad McQueen regarding the provenance on the Rolex Submariner in question. Chad, just like his father Steve is one really cool dude! We talked about many different aspects of this historical investigation including various inconsistencies in the timelines...

Chad said the McQueen legal team is working on this case and they will release a statement as soon as they draw their conclusions. Stay tuned for much more...

Chad and I also discussed the Rolex Submariner he is wearing in the photo above which his father gave him before he passed away. The photo of Chad wearing his father's Steve McQueen Submariner was taken back in the 1980s, and certainly possesses the greatest provenance and pedigree...

There Is A Flipside To Every Watch

Update June 9, 12:30AM PST: I just got done interviewing Loren Janes daughter about this story. We spoke for several hours and she shared her entire story with me and I have to say I was stunned!!! I don't feel comfortable writing an update now as there is so much detail to share. I will be publishing a super-detailed update story as soon as I can complete it that shows the flip-side of the coin! Loren Janes daughter shared a number of photos with me, so I thought I would start by sharing this first one with you now...Much more to come!!!

Signed 1966 Photo of Steve McQueen from The Movie Nevada Smith 
From Steve McQueen with a message to Loren Janes

It Happens All The Time Dude!!!

Update June 8, 5:45PM PST: Just when I thought things couldn't get any more sideways with this story, they did...

I interviewed legendary stuntman Mickey Gilbert today regarding this story. Mickey is the real deal and his IMDB Filmography is stunningly impressive. Mickey did a lot of stunt doubling for Robert Redford, including in Butch Cassidy & The Sundance Kid, as well as in the Horse Whisper. He also worked on Ben Hur, The Last Of The Mohicans, and Little Big Man.

Mickey Gilbert was the Stunt Coordinator and doubled Steve McQueen on the 1972 Rodeo movie titled Junior Bonner. I briefed him on this story, then I asked Mickey about Loren Janes participation in the movie as it appears on the provenance letter that authenticated the watch. Mickey laughed and said: 

"Loren Janes wasn't there!?!! He had nothing whatsoever to do with the movie. Besides, Junior Bonner was a rodeo movie and Loren wasn't much of a horseman. I grew up on a ranch and competed in rodeos when I was a young man. It doesn't surprise me to learn this about Loren as he exaggerated a lot!" 

At the end of our superb conversation, Mickey thanked me for sharing this crazy story with him. He laughed and said, "This story is like a comedy sequence that's all lies."

The trailer for Junior Bonner is seen below and we see Mickey Gilbert stunt-doubling Steve McQueen—NOT Loren Janes:



With the advent of Mickey's confirmation, this makes four movies that Loren Janes provenance letter said he was in, but was not. I have even more crazy news coming up in this story, so keep your seatbelt fastened!!! 

__________________________

Update June 7, 12PM PST: As mentioned yesterday, I reached out to Chad McQueen for comment on his father's watch. Below is the official response I received:

"Dear Jake: Thank you for your inquiry regarding the watch allegedly gifted by Steve McQueen to Loren Janes and currently advertised for auction. Mr. Chad McQueen disagrees with the information and claims published regarding the purported authenticity and pedigree of this watch."

I also significantly updated this story today, and I moved all of the prior updates in this story to the very bottom of this story if you want to check them out.

Loren Janes 

Submariner

A Gift From Steve McQueen To His Stuntman?

Coming To Philipps Auction House

Rolex Submariner

Reference 5512

What is cooler than a story Steve McQueen story? A story about Steve McQueen and Rolex, coupled inside a peculiar mystery...

Phillips Auction house will soon be auctioning this Rolex Submariner in New York which belonged to Loren Janes and as we see in the photo below has an engraving on the back that reads, "LOREN, THE BEST DAMN STUNTMAN IN THE WORLD. —STEVE."

What Do You Do For An Encore After Paul Newman?

It's All Downhill From There

Forbes Magazine published a story earlier today named: "The Secret History of Steve McQueen's Rolex Submariner", which I highly recommend reading. The article includes the fascinating video below:

I must mention there are some strange inconsistencies in this video. In particular, Paul Butros says @ :12, "It was owned and worn by Steve McQueen himself." Also @ :51 he says, "Accompanied with the watch we have a folio with some images of Steve McQueen wearing the watch." This is not really possible as Steve McQueen first began wearing a Rolex Submariner in 1970, and Loren Janes claimed and was witnessed wearing it in 1968. I go more into detail on this incorrect statement later in this story.

Phillips Auction House, which will be auctioning Loren Janes Rolex Submariner famously auctioned Paul Newman's Exotic Dial Daytona recently for $17.8 Million. 

Loren Janes Submariner

Loren Janes was Steve McQueen's stunt double on many films, and in the photo below we see him wearing his Rolex Submariner. 

Loren Janes Submariner comes with some interesting provenance documents, including the letter Loren Janes supposedly wrote and signed several months before he passed away on June 24, 2017. A challenge is that Loren Janes was 85 when he passed away, and unfortunately, he was suffering from an advanced level Alzheimer's disease. 

Update: On June 6, 11:38AM PST: I spoke with Gary Combs who was a leading Hollywood Stunt Coordinator and Stuntman. Gary doubled Steve McQueen in the movies Tom Horn and The Getaway. He was also the stunt Coordinator on Tom Horn and The Hunter. After careful evaluation, Gary confirmed the content of the letter above was factually incorrect and clearly written by somebody who had no real knowledge of Loren Janes lack of involvement in Tom Horn and The Getaway. Gary confirmed that Loren Janes did NOT participate in any way in either movie nor was he on the set.

Update: On June 6, 3:04PM PST: I spoke with Don Nunley who was a close friend of Steve McQueen as well as being the property master on the Steve McQueen movie titled "Le Mans" which was filmed in 1971. He recently wrote a book about his pal named "Steve McQueen, Le Mans in the Rearview Mirror." Don Nunley said that Loren Janes was not involved in any way shape or form in Le Mans, and if anybody would know, it would be the Le Mans Property Master. So here we have a second witness who tells us the provenance letter is inaccurate. Don wears a Rolex Submariner and in the future, I plan to interview him about his book. In the meantime, I put a video at the end of this story about his Steve McQueen book. Don also was a close friend of former Rolex U.S.A. Executive, T. Walker Lloyd and we traded some stories about T.

I don't mean to sound harsh, but I question the veracity of this provenance letter seen above since Loren Janes was non compos mentis on the date he would have signed this letter. In other words, Loren didn't even know his own name.

This is a devastating story on many levels, as you can see in the video below. It's also hard to believe that an 85 years-old man whose home tragically burned to the ground with all his worldly possessions had custom stationary printed within a half year so he could write such a provenance letter. 




I might be way off base with my analysis, but there are a number of unanswered questions and inconsistencies surrounding this story. To the best of my knowledge, Steve McQueen first began wearing a Rolex Submariner in 1971 just before he was filming his racing movie titled Le Mans. I believe the first photo I have ever documented of Steve McQueen [seen below] wearing a Rolex Submariner was taken when he was racing during The 12 Hours of Sebring endurance race held at the Sebring International Raceway in Florida in 1970.

Loren Janes claimed in a 2011 Wall Street Journal interview that in 1968 while performing car stunts for the major motion picture named 'Bullitt' he already had received the 1964 Submariner with the engraving on the back from Steve McQueen. The following excerpt is from the 2011 WSJ interview:

"When the filming of "Bullitt" ended, McQueen offered Mr. Janes one of the three tricked-out Mustangs used in the film. Mr. Janes passed, fearful he would always want to drive it too fast. "Besides, I already had this," he said, removing a 1964 Rolex Submariner from his wrist. On the back was an inscription: "To the best damn stuntman in the world. Steve."

It is interesting to note that the actual engraving on the back of the watch is different than what is cited in the Wall Street Journal article. In other words, the WSJ quote above begins, "To the best..." but the watch engraving reads "Loren. The best..."

If you study this timeframe, this would mean Steve McQueen would have had to purchase the Submariner sometime between 1964 and 1968 and have it engraved, and offered it as a gift before he owned and wore a Submariner himself? For the record, this would mean the watch that is visible in EVERY KNOWN PHOTO OF STEVE MCQUEEN WEARING A SUBMARINER COULD NOT POSSIBLY THE SAME WATCH LOREN JANES WORE!!!

In other words, the image above which is a screen capture from Phillips website page that is dedicated to this watch auction showcase shows Loren Janes Rolex Submariner which is up for auction on top of a photo of Steve McQueen taken in 1973 on the set of Papillon taken in Jamaica. This disingenuous photo juxtaposes Loren Janes Rolex Submariner as if to suggest it is the same watch, but in reality, it is next to impossible as Loren Janes claimed he was already wearing his Submariner in 1968 [as he was quoted in the Wall Street Jornal article cited above]. 

Fellow Stuntman and the first man to drive on land beyond the speed of sound Stan Barrett confirmed this to be a fact as he specifically recalled this fact. Stan said, "Back in 1968 I was working with Loren Janes, and I noticed he was wearing a Rolex Submariner. Being a huge Rolex fan myself, I was checking out his Submariner and I remembered commenting it was pretty thick.

Stan Barrett pictured above with Paul Newman in 1975

Stan Barrett ironically was one of the top stuntmen in Hollywood at the time, and he said in a recent interview:

"Not only do I not recall seeing an engraving on the back of Loren Janes Rolex Submariner, but trust me, if it had an engraving that reads: "LOREN. THE BEST DAMN STUNTMAN IN THE WORLD. —STEVE" I would have remembered it —for sure!!! Also, if the engraving was on the watch from Steve McQueen it's certain Loren would have shown it to me."

"Not only was I Paul Newman's stunt double and best friend, but I also doubled Steve McQueen on Papillon in 1972 in Jamaica. If Loren was 'the best damn stuntman in the world', then why would Steve McQueen request me to do the stunts on Papillon, as well as on The Towering Inferno? I had to turn down Towering Inferno as I had to have a fractured kneecap removed. Don't get me wrong, Loren Janes was an amazing athlete, but he was not regarded as near the best in many categories. Also, if Loren was the best stuntman in the world, why would Steve McQueen request Gary Combs on other films? At Gary's request, Steve McQueen offered Loren the stuntwork in The Hunter." 

"I hired Loren Janes many times when I was doing stunt coordinating on TV Series and movies including Dan August and Airport 77, and other films I was coordinating, and I can assure you although Loren was a good stuntman, he was nowhere near the best. I felt obligated to help Loren get work as he had introduced me to my wife."

"It was a well known fact in the stunt community that Bill Hickman, Cary Loften and Bud Ekins were credited with doing the amazing car chase in Bullitt. As a matter of fact, Steve McQueen was an excellent driver and did a lot of the driving himself—so much so he almost got killed. I take huge exception for people who try to take credit for things they did not do."

Back to the Philipps Steve McQueen showcase article, I find Phillips title and subtitle to be highly misleading hyperbole that is not only bombastic but also terribly inaccurate. By having a title that reads: "Phillips To Sell Steve McQueen's Rolex Submariner", suggests to the casual reader that Steve McQueen only wore one Submariner and that it is up for auction. This is a radical exaggeration. The title should be "Philipps To Sell Loren Janes Rolex Submariner." I will point out there is ZERO evidence to suggest Steve McQueen ever wore this watch.

Phillips further exaggerates this point in the subtitle when they say: "Phillips returns to New York on October 25 with another iconic Rolex, owned and worn by one of America's most well-known actors. After Paul Newman's "Paul Newman", it's time for Steve McQueen's Submariner." 

Wait a minute!?!! Let's back up for a moment here. While it is true that Phillips recently hit the mother of all grand-slams with the very successful auctioning of Paul Newman's Paul Newman Daytona for $17.8 Million, they are attempting to stretch terribly to draw a highly false analogy to this watch. This reminds me of people who are ambitious and successful but exaggerate their success way too much when it is fundamentally unnecessary. It's cries of Bruce Springsteen's 'Glory Days'. Phillips does not need to do this and in my personal opinion doing so serves to undermine their credibility.

I don't believe Phillips completed their due diligence process on the provenance of this watch, which basically means I am doing it for them, and from what I have learned so far it's "Lucy!?!! You got some splanin' to do!?!!"

Also included with the provenance is the letter from the Rolex service department. It is amazing how graciously Rolex responded as you can read in the letter. 

In some respects, this letter might appear to be a confirmation from Rolex that the watch was a gift from Steve McQueen as part of the provenance, but to the best of my knowledge, the gracious Rolex customer service manager was simply repeating what was told to her. Below are a short documentary and an interview that is a tribute to Loren Janes, and you can see him wearing his Submariner.





In the video below we see Loren Janes tell a great story about Steve McQueen's generosity and if you watch closely you will notice he is wearing his Rolex Submariner in the video.

The photo below shows Loren Janes (left) standing next to Steve McQueen on the set of the major motion picture titled "The Hunter", where he served as McQueen's stunt double.

The Hunter

Steve McQueen wore his Rolex Submariner 5512 in the last movie he made which was named "The Hunter" which was released in 1980.

Four Steve McQueen Submariner Models
+
Seven Paul Newman Daytona Models

Over the past decade, I have written and published more content on the Steve McQueen Submariner and Paul Newman Daytona than any other entity on earth. So on some levels that makes me one of the top experts on these watches—or at least the stories and photos behind them.

The term Paul Newman Daytona can be tied to seven different Rolex Daytona models that Paul Newman wore. Despite this fact, there is one 'Paul Newman Daytona' that really is the transcendental 'Paul Newman Daytona', and that is the exotic white dial Rolex Daytona in stainless steel pictured above [Rolex Reference Number 6239].

Conversely, Steve McQueen was believed to have owned and worn multiple Rolex Submariner models. In the photo below, taken in 2009 at Fourtané Jewelers in Carmel-By-The-Sea, it shows me wearing one of Steve McQueen's Submariner models on my wrist. This Steve McQueen Submariner [Reference 5512] was auctioned by Antiquorum in 2009 for $234,000.

It is interesting to note in the photo above I am wearing Steve McQueen's Rolex Submariner on my right wrist, the same way Steve wore it exclusively on his right wrist—as seen in the photo below. BTW: The image below is NOT an official Rolex magazine ad, although it looks like one. Back in 2013, I held a competition for readers to create their vision of ideal Rolex ads, and I, of course, participated. 

This Steve McQueen magazine advertisement is one I created, and it shows him standing in front of his Hunter Green Porsche 911 (with an open sunroof), wearing his Rolex Submariner 5513, along with his Battlestar Galactica style suede jacket. The photo was taken in France while Steve McQueen was filming Le Mans.

Steve McQueen's son, Chad McQueen also owns and wears a Rolex Submariner that his father took of his wrist and gave to him on his deathbed. Chad McQueen is pictured below with his dad, and Chad is wearing a REALLY cool Hang-Ten T-Shirt with the two feet logo. I also used to wear the same Hang-Ten T-Shirts when I was a kid :-)

Chad McQueen is pictured below in a photo taken not so long after his father passed away, and notice he is wearing his Dad's Submariner.

Chad McQueen is pictured below in a more recent photo still wearing his fathers Rolex Submariner. When it comes to provenance this watch undeniably possesses the most compelling of all. 

Separating Fact From Fiction

Before we go any further in this story, I want to make a distinction between Steve McQueen and Rolex. On Jake's Rolex World I specialize in busting falsely perpetuated myths regarding Rolex. There was a persistent false myth perpetuated for a long time that referred to the Rolex Orange Hand Explorer II, Reference 1655 as the "Steve McQueen Explorer." 

The classic Rolex Explorer II 'Orange Hand' Reference  1655 that has been falsely associated with Steve McQueen is pictured above

In my story named "The Complete History Of Rolex Mythbusting—Seperating Rolex Fact from Fiction", I pointed out that Steve McQueen NEVER wore a Rolex Explorer. Instead, Steve McQueen only ever wore a Rolex Submariner—ONLY. Anybody who ever utters the term Steve McQueen Explorer is a complete idiot! There is, and never has been any such thing as a Steve McQueen Explorer and anybody who further perpetuates this false association is making a complete fool of themselves.

Rolex Kings of Cool

Steve McQueen v. Paul Newman

Who is the coolest man to ever wear a Rolex? It's hard to say, but one could argue the top contenders are Steve McQueen and Paul Newman as pictured below. In the photo below we see a photo of Steve McQueen that could have been taken yesterday. It shows him on the set of the 1973 movie named Papillon. 

Paul Newman famously wore multiple Rolex Daytona models throughout his life, and in the photo below we see his wearing his trademark exotic dial stainless steel Rolex Daytona, which is commonly referred to by collectors as "The Paul Newman Daytona."

Steve McQueen and Pual Newman were pals and they co-starred together in the major motion picture titled The Towering Inferno, which the photos below were taken on the set of.

In the photos below we see more photos from the archive of Steve McQueen rockin' his Rolex Submariner, which he often wore with his super-cool foldable Persol sunglasses.

In the photo above and below we see Steve McQueen's 1969 Porsche 917K (Chassis Number 024) swathed in Powder Blue and Marigold Orange. This rare Porsche 917 featured an air-cooled 12 cylinder 560HP mid-engine. It disappeared after the movie was made, only to come back to life in a barn-find. This amazing car was auctioned recently for $14,000,000.

In the photo below we see Steve McQueen in front of his 911S, while filming Le Mans, and notice his Submariner, along his Persol sunglasses, with this tie-dyed shirt. Groovy Baby, Yeah!!!!

The Rolex Submariner magazine ad below is from 1965, and you can always learn much, much more by reading my 20 Chapter series named "The Complete History Of The Rolex Submariner".

The following updates were all made yesterday:


Update #1 [June 6, 11:48 AM PST]: I just got off the phone with Gary Combs who was one of Hollywoods top stunt coordinators and stuntman who also doubled Steve McQueen. Gary Combs confirmed that the supposed provenance letter signed by Loren Janes is riddled with historical mistakes, and thus could NOT have been written by Loren Janes. You can get more details by scrolling down the page and reading the update. Much more detail on this story coming!!!

Update #2 [June 6, 12:17PM PST]: I just spoke with the consigner of the watch, Michael Eisenberg on the phone. He was busy and asked me to call him later today. As soon as I get off the phone with him I will post an update on his insight into this case. I also got off the phone with several other famous Hollywood stuntmen who worked with Steve McQueen and later today will be sharing their insight. Stay tuned...

Update #3 [June 6, 1:04PM PST]: I just reached out to Chad McQueen, who is Steve McQueen's son for comment on the provenance behind this watch. Also, I reached out to Aurel Bacs from Phillips Auction House for comment on this watch and am waiting to hear back from him.

Update #4 [June 6, 3:04PM PST]: I just got off the phone with Don Nunley who was a close friend of Steve McQueen as well as being the property master on the Steve McQueen movie titled "Le Mans" which was filmed in 1971. He recently wrote a book about his pal named "Steve McQueen, Le Mans in the Rearview Mirror." Don Nunley said that Loren Janes was not involved in any way shape or form in Le Mans, and if anybody would know, it would be the Le Mans Property Master. So here we have a second witness who tells us that the provenance letter is incorrect. Don wears a Rolex Submariner and in the future, I plan to interview him about his book. In the meantime, I put a video at the end of this story about his Steve McQueen book. Don also was a close friend of former Rolex U.S.A. Executive, T. Walker Lloyd and we traded some stories about T.

Update #5 [June 6, 6:01PM PST]: I spoke with the consigner of the watch in controversy, Michael Eisenberg and had a very detailed and interesting conversation. I have known Michael as a collector for a long time and he once sent in photos of Clark Gable's Rolex which I ran a story on back in 2012.

Michael told me the story about how one day he was by a swimming pool and noticed a copy of the L.A. Times. He said he picked it up, and the wind blew it open to a story about how a former stuntman lost his home in a fire. Michael said, "It's bizarre because I never read the L.A. Times, but I randomly ended up reading this story and at the end, it said that Loren Janes had lost his Rolex Submariner in a fire that Steve McQueen gave him. So after a week of trying to locate Loren Janes and his family, I finally got ahold of them. I convinced them to go through the rubble to find his watch which I told them was precious. They found it, and there were other bidders I outbid to buy the watch.

I asked Michael about the provenance letter and its inaccuracies. He sent me to Loren Jones IMDB database that listed Loren Janes as having been Steve McQueen's stunt double, but for all three movies that I confirmed he was not in. IMDB says he was Steve McQueen's UNCREDITED stunt double. This means Loren Janes was not credited on the movie credits at the end of the movie. Herein lies a conflict of evidence, that leads to more questions. Like 'who falsely listed Loren Jones as having participated in these movies when in reality he did not? 

I asked Michael if he actually ever met Loren Janes in person and he said no. I also asked him about the signed Loren Janes provenance letter. I told him I believed it was very highly unlikely for Loren Janes to have written it as he was 85 years old at the time and suffering from Alzheimer's disease. Michael said he did not know who wrote the provenance letter but confirmed that he purchased the watch before Loren Janes passed away. [Update: June 8 @ 8:45am. I spoke with Michael again and he clarified he received the provenance letter from the family at the time he purchased the watch, which was before Loren Janes passed away.]

I will be interviewing more people about this curious case of a Steve McQueen Submariner, and over the course of the next few days will likely rewrite this story to make it easier to understand. I will also draw my conclusion based upon my findings as to what I think the real facts are in this case. Stay Tuned :-)