I have been trading/working on watches 40+ years as a hobby and I really hate to say this, but there is no way I would buy a vintage (especially 4 digit sub, GMT etc.) Rolex for big $$ in today's market.
Why ?
Because there are 'restoration professionals' who can take a worn out vintage Rolex with case corrosion, dents, rusty movement etc. and make it look new or 'age' it as needed. A laser welded, ground and polished watch is not 'original' by any definition imho.
The only catch is the dial/hands and my guess is before long there will be near perfect replicas, if not already. If so, who is going to know?
Btw...from my experience, the term "know the seller" is not very reliable as I know some 'trusted sellers' that I would not swap dimes with.
I also know some Good Guys that have been in the biz for many years.
So...many will ask why I am in the replica hobby.
It is simple...RWC USA cut parts off to independents so I changed over to mostly replicas for a hobby.
It's easy to be a crook though. For example:
I have some nos 1016 dials, hands, crystals, case tubes, crowns etc. plus a few 1570 movements...all that is missing is a case and a bracelet.
Also have a complete 1575 GMT hack movement (not a 'shortcut' movement) and a 'Phong' 1655 case from 12 or 15 years ago. Al that is missing is a bracelet and dial, I have the hands.
If put together, these two watches would fool most of the current buyers...if I was a crook.
Nov. 17, 1973 | President Richard Nixon Declares ‘I Am Not a Crook’ Ha!