The first is the OCD nature of a Rolex collector. If that dial on a watch was replaced with a brand new dial most watch buyers of other brands would be elated. If that was a Rolex you just knocked 20% off the value and this is for every part from the insert to the bracelet to the crown and so on. Every part count. The closer it is to the way it was born the happier we are. Our beat up original owner watch give us the same pleasure as a brand new watch out of the box. It takes a lot of time and research to learn the nuances so you have to be invested as a collector and pay your dues. I have started to venture down the Doxa Sub 300 path and the collectors there don't care if the watch was re lumed or has the wrong crown it is jsut about integrity of the watch in a functional respect. But that may be simply due to the fact that parts are completely unavailable.
The culture of Vintage Rolex Collectors
I know money always sneaks in to the conversation. But when you step outside of the realm of in stock at the Rolex boutiques money is less powerful than knowledge. I mean this in two ways. The fist is if you do want a Gilt 5513 from 1964 you can't just buy one of the shelf you need to hunt far and wide and evaluate all your options and if you are luck you will land on one. The other is that people of completely different means will be shown the same Rolex Collector respect. That is to say any basic 5513 matt dial will hold the respect of another Rolex collection with $150k Daytona or Rolex big crown simply because they know and appreciate the effort it takes to hunt down and collect Vintage Rolex.
I am not sure if you caught my article on what is vintage Rolex but it ties in well.
rolex.watchprosite.com
A fun read.
Bill