Rolex Submariner Reference 5514
The Rolex Submariner is one of the most iconic watches of all time. We are excited to present this very unique—and possibly one-off— Submariner reference 5514 for sale. This watch was previously owned by watchmaker Dr. Greg Petronzi of True Patina. When the watch first arrived in Greg’s possession, he questioned its originality. The Submariner reference 5514—a special model manufactured by Rolex for the French dive company COMEX—was previously thought to have been produced only in the mid-1970s, primarily within the 5 million serial range. This particular example, however, bears a serial number in the 7 million range, dating it to 1982.
As Greg opened the watch to service it, the story became even more intriguing. The movement was not a cal. 1520 (the expected movement for a “2-line” Submariner), but rather a serialized, chronometer-spec cal. 1570. At the time, these movements were typically found only in “4-line” Submariners such as the 5512 or 1680. Furthermore, the movement plate had a small section removed to accommodate the Helium Escape Valve (HEV) characteristic of the 5514. As Greg noted, this resection appeared to be a factory-level modification.
It was also observed that the inside of the caseback had been routed in the area where “Patented” was originally engraved. This is consistent with watches from the early 1980s, when the Oyster case patent expired and “Registered Design” markings between the lugs were changed to “Orig. Rolex Design” (as seen on this example). This detail further supports that the caseback is correctly matched to the mid-case for the period. The Mk4 Maxi dial is correct for a 1982 production watch. Given the consistency across the dial, mid-case, and caseback, all components appear to be original. The hands have been color matched. The case has been polished.
Ultimately, only Rolex can definitively verify originality. The chronometer-grade cal. 1570 is serialized (unlike the 1520), and Rolex alone maintains records correlating movement serials to case serials. If the movement were not original to the watch, Rolex would refuse to service it.
In the interest of verifying originality, Greg submitted the watch to the Rolex Service Center (RSC) in New York City, where it was accepted for a complete overhaul. Rolex subsequently returned the watch with service paperwork and a warranty card, thereby validating the authenticity and originality of this rare timepiece.
As such, this watch represents what appears to be the latest known serialized example of the Reference 5514. During Greg’s ownership, he also obtained additional information from a notable Italian collector through whom the watch had previously passed. An image shared with Greg from RSC Geneva indicates the exact production date of April 2, 1982.
When preparing to sell the watch, Greg noticed an error in the serial number listed on the service paperwork. He returned to RSC NYC to obtain formal serial number verification, which is included alongside the original Rolex service documentation.
Why this 5514 was produced as late as 1982 remains a mystery. No other examples from this late period are currently known. What is clear, however, is that this is an extraordinarily rare example of an already scarce reference—and a highly important historical piece for any serious Submariner collector.
The watch is running well. It recently passed a water resistance test of 5 bar. It does not come with box or papers. It does come with service papers.
To learn more about the Rolex Submariner, you can read my ‘Reference Points: Understanding The Rolex Submariner’ article and corresponding video.
PRICE: $79,900 (SBUXYT4295)
