I bought a Rolex submariner back in 1988 (it was bought by an AF Colonel I worked with new in 1984.  Still runs real good.  Oh I also (posted this a while back somewheres) have a Oyster date just built in either 1945 or 1955.  Paid $50.00.  Yes, Fifty dollars.  Then spend another 450 to have it "refurbished".  Runs like a brand new watch, but it is one you need to wind everyday.  BTW, the submariner has been to over 100 feet 3 times and beat up on sunken ships, coral,etc.  I love it!