A typical model within the fake Rolex’s archives, the Submariner watch was in production from 1959 until the late 1970s. During its 20-year production run, the Submariner 5512 underwent several enhancements such as modifications to the crown guards, caliber changes, and dial updates. Today, there’s a robust market for the Submariner 5512 among vintage replica Rolex watch collectors, therefore, their values are rising all the way. However, there is a myriad of factors that decided the current value of the rolex Submariner watch.
Even though the vintage Explorer replica watch goes by the nickname, “Steve McQueen,” that is not the Rolex watch the actor wore. Actually, the King of Cool wore a Submariner 5512 as his daily watch. 
How to get a better understanding of this model? We have to look at how the model differed over the course of its history. Take the crown guards for example. When the model first came out it had square crown guards, followed by pointed crown guards and finally the rounder crown guards we’re now familiar with.
The dials of this model also evolved over its manufacturing run. Early models of the Submariner 5512 were made with non-chronometer certified movements, therefore did not consist of the ubiquitous “Superlative Chronometer Officially Certified” text on the dial. These versions are referred to two-liner Submariner 5512 since their glossy black dials only have two lines of (gilt) text. The four liner editions were first available with glossy dials with gilt text, followed by matte black dials with white printed text.
As expected, early examples of the Submariner fake watch generally have higher values than later models. The most coveted are the earliest examples that come with square crown guards. Good news for fans of the Submariner 5512 is that later models from the 1970s are substantially less expensive than older versions.
As interest in the vintage Submariner 5512 increases and more people realize that it’s much rarer to find than its sibling, it’s secure to note that its value will also continue to go up as well—at least for the foreseeable future. But like all vintage Rolex replica watches, it’s not just the year and design details that make a difference to the bottom line, but condition and provenance play a big part too.