Reference 6536 is amongst the rarest and earliest of all Submariners. Produced for one year only in 1955, it most notably features no crown guards, a ‘small crown’, rotating bezel and gilt black lacquer ‘Swiss’ dial.

This watch is a double reference 6536/6538, which is clearly a transitional example, as the case back displays the number 6536, along with 6538 crossed out by Rolex.

John Goldberger's Opinion

This watch displays all the original characteristics of a reference 6536/6538. The dial is, of course, the most splendid aspect of the watch. Still retaining its black lacquer finish with grainy patina, the radium plots have aged with warm orange patina, which match the gilt hands and seconds lollipop wonderfully. The ‘Swiss’ dial furthermore features a gilt chapter ring, which is correct for the reference. The radium index at 6 o’clock is brighter in tone, which is also correct.

While these attributes are very rare, one more detail propels this watch to the next level: the red depth rating. Only the very earliest examples carried a red depth rating above 6 o’clock as Rolex tested some watches during the period with a red ‘100/330’ designation. Approximately 10 examples with these particular characteristics have appeared on the market today.

The watch features a really crisp case, which still displays bevels and boasts a robust 37.5 mm. case diameter. The bezel insert is correct, and the bracelet is original, stamped for the third quarter of 1954.