January 27, 2025

Why Two-Tone Rolex Watches Don’t Hold Their Value Like Solid Gold or Stainless Steel Models

Rolex is often considered the king of luxury timepieces, boasting a range of iconic models that hold—or even increase—their value over time. However, not all Rolex watches are created equal when it comes to retaining value in the secondary market. While solid stainless steel and solid gold Rolexes are widely regarded as strong investments, two-tone models often lag behind in terms of resale performance.

In this blog, we’ll explore why two-tone Rolex watches don’t hold their value as well as their solid counterparts, diving into consumer preferences, market trends, and the perception of two-tone watches in the luxury watch industry.

1. The Changing Taste of Watch Enthusiasts

One of the main reasons two-tone Rolex watches don’t retain value as well as solid gold or stainless steel models is consumer preference. Over the years, the watch community’s tastes have shifted toward either bold luxury or understated simplicity, leaving two-tone models in a somewhat awkward middle ground.

Solid Gold Rolexes: Represent the pinnacle of luxury and exclusivity. A solid gold watch signals opulence, making it highly desirable to collectors and those who want to make a bold statement.
Stainless Steel Rolexes: Offer versatility and durability while maintaining a sense of understated elegance. These watches are perfect for daily wear and often align with modern minimalist aesthetics.

In contrast, two-tone Rolex watches—which feature a mix of stainless steel and gold—can feel like a compromise. They’re not as luxurious as solid gold models nor as versatile and modern as stainless steel pieces, making them less appealing to a broader audience.

2. Perception of Two-Tone Watches

Historically, two-tone watches were incredibly popular during the 1980s and early 1990s. The combination of gold and stainless steel was seen as stylish, flashy, and a symbol of success. However, as fashion trends evolved, two-tone designs began to feel dated to some collectors.

Modern View on Two-Tone

Many collectors see two-tone watches as less desirable because they lack the full commitment to either luxury (solid gold) or practicality (stainless steel).
Two-tone watches can also come across as overly flashy or mismatched for some modern tastes, particularly for younger buyers.
In today’s watch market, clean and cohesive designs (like an all-gold or all-steel watch) tend to have broader appeal.

3. Market Demand and Scarcity

The value of Rolex watches in the secondary market is largely driven by demand and scarcity. Two-tone models are often more readily available than their solid gold or stainless steel counterparts, which decreases their exclusivity.

Stainless Steel Rolex Models: Highly sought after due to their practicality and scarcity. Models like the Submariner, Daytona, and GMT-Master II in stainless steel are often waitlisted for years, driving up their value in the secondary market.
Solid Gold Rolex Models: While less practical than stainless steel, they appeal to a niche audience willing to pay a premium for exclusivity and luxury.
Two-Tone Rolex Models: Fall somewhere in between. They don’t have the high demand of stainless steel models nor the exclusivity of solid gold, which results in weaker performance in the resale market.

4. Pricing and Perceived Value

Another factor affecting the resale value of two-tone Rolex watches is their initial pricing compared to their perceived value. Two-tone models are priced higher than stainless steel watches but significantly lower than solid gold ones. This pricing often works against them in the secondary market:

Buyers seeking a luxury watch at a lower price point tend to opt for stainless steel models due to their practicality and versatility.
Buyers seeking a true luxury experience may save up for a solid gold watch instead of settling for a two-tone model.

This creates a smaller market for two-tone Rolexes, as they don’t strongly appeal to either end of the spectrum.

5. Durability and Maintenance

From a practical standpoint, two-tone watches also present unique challenges. The combination of materials—stainless steel and gold—can make maintenance and wear more noticeable over time.

Scratches on Gold: Gold is softer and more prone to scratches than stainless steel, which means two-tone watches can lose their aesthetic appeal more quickly in daily use.
Contrast in Materials: Over time, the contrast between gold and stainless steel can make wear and tear more visible, which can deter buyers on the secondary market.

These practical concerns make stainless steel a more reliable and durable choice for many collectors and daily wearers.

6. Exceptions to the Rule

While two-tone watches generally don’t hold their value as well as solid stainless steel or gold models, there are exceptions to this trend. Certain iconic two-tone models have gained a cult following and perform better on the secondary market.

Rolex Submariner Two-Tone (“Bluesy”): The Submariner with a two-tone steel and yellow gold case paired with a striking blue dial and bezel has a dedicated fan base. Its bold design and classic status make it one of the more desirable two-tone models.
Rolex GMT-Master II Two-Tone (“Root Beer”): This model features a warm rose gold and stainless steel combination, paired with a brown and black bezel. Its unique aesthetic has made it a favorite among collectors.

These models highlight how design and nostalgia can influence the performance of two-tone watches in the resale market.

7. The Bottom Line

Two-tone Rolex watches offer a unique aesthetic that bridges the gap between luxury and practicality. However, their weaker resale value compared to solid stainless steel or gold models can be attributed to several factors:

Shifting consumer preferences favoring either understated or fully luxurious designs.
Perceived lack of exclusivity in the secondary market.
Practical concerns about wear and tear over time.

That said, two-tone Rolex watches are by no means a poor choice. They offer a distinct look that appeals to a niche audience, and certain models like the “Bluesy” Submariner and GMT-Master II Root Beer continue to perform well in the market.

If you’re drawn to the two-tone aesthetic and don’t mind a slightly lower resale value, these watches can be an excellent addition to your collection. However, if investment potential and broad appeal are your primary concerns, stainless steel or solid gold Rolex models may be the better option.

Do you prefer two-tone Rolex watches, or do you stick with solid stainless steel or gold? Let us know in the comments below!