It looks like the Phillips auction has come back down to earth in Hong Kong with the Vintage Rolex gang.
Also you have to consider the selection below are not the most mint examples but all very honest. It is important to note average gilt 5513 may command the auction price in the USD 20k but a pristine example is easily going to trade closer to $40k +. So take this not as a true indication of market value but fair price for honest watches. Looking at the big crown Rolex 6538 you can see the condition and realize the price could vary upwards 50% or more depending on the example.
270
ROLEX
A very fine and rare stainless steel wristwatch with sweep centre seconds, black lacquer dial, big crown and original bracelet
勞力士,非常精細及罕有,不銹鋼自動上弦鏈帶腕錶,配中心秒針、黑色漆錶盤、特大錶冠及原裝鏈帶,“Submariner”,型號6538,約1958年製Manufacturer: Rolex
Year: Circa 1958
Reference N 6538
Movement N N807846
Case N 426'441
Model Name: Submariner
Material: Stainless steel
Calibre: Automatic, 1030, 25 jewels
Bracelet/Strap: Stainless steel Rolex Oysterbracelet, 180 mm. maximum length, end link stamped 80
Clasp/Buckle: Stainless steel Rolex folding deployant clasp
Dimensions: 37.5 mm. maximum length
Signed: Case, dial and movement signed
Estimate HK$620,000 - 900,000 SOLD FOR HK$750,000
271
ROLEX
A fine and rare stainless steel wristwatch with sweep centre seconds, black lacquer exclamation dial and bracelet
勞力士,精細及罕有,不銹鋼自動上弦鏈帶腕錶,配中心秒針、黑色漆錶盤,型號5508,1961年製Manufacturer: Rolex
Year: 1961
Reference N 5508
Movement N D80647
Case N 763'433
Model Name: Submariner
Material: Stainless steel
Calibre: Automatic, 1560, 26 jewels
Bracelet/Strap: Stainless steel Rolex Oysterbracelet, 185 mm. maximum length
Clasp/Buckle: Stainless steel Rolex folding deployant clasp
Dimensions: 38 mm. diameter
Signed: Case, dial and movement signed
Estimate HK$120,000 - 180,000 SOLD FOR HK$187,500
272
ROLEX
A fine and rare stainless steel wristwatch with sweep centre seconds, black lacquer dial and bracelet
勞力士,精細及罕有,不銹鋼自動上弦鏈帶腕錶,配中心秒針及黑色漆錶盤,“Submariner”,型號5508,1958年製Manufacturer: Rolex
Year: 1958
Reference N 5508, inside case back stamped III.1958
Movement N 30'208
Case N 399'755
Model Name: Submariner
Material: Stainless steel
Calibre: Automatic, 1530, 17 jewels
Bracelet/Strap: Stainless steel Rolex Oysterbracelet stamped 7206, 186 mm. maximum length
Clasp/Buckle: Stainless steel Rolex folding deployant clasp
Dimensions: 38 mm. diameter
Signed: Case, dial and movement signed
Estimate HK$120,000 - 180,000 SOLD FOR HK$150,000
274
ROLEX
A fine and very rare stainless steel wristwatch with sweep centre seconds, black lacquer underline 'Swiss' dial, pointed crown guards and bracelet
勞力士,精細及非常罕有,不銹鋼自動上弦鏈帶腕錶,配中心秒針及黑色漆錶盤,“Submariner”,型號5513,1963年製Manufacturer: Rolex
Year: 1963
Reference N 5513, inside case back stamped 3.63
Case N 1'009'526
Model Name: Submariner
Material: Stainless steel
Calibre: Automatic, 1530, 26 jewels
Bracelet/Strap: Stainless steel Rolex Oysterbracelet, 180 mm. maximum length, end link stamped 4.63
Clasp/Buckle: Stainless steel Rolex folding deployant clasp
Dimensions: 39.5 mm. diameter
Signed: Case, dial and movement signed
Estimate HK$96,000 - 144,000 SOLD FOR HK$162,500