Squale 2001 Review: Vintage Dive Watch Resale Reality Check

The Squale 2001 (ref. 2001) is a love letter to the brand’s golden era of the 1960s and ’70s, when Squale supplied cases and dials to some of the biggest names in diving. Today, it’s a darling of the microbrand-adjacent collector scene—a 40mm stainless steel diver with a clean, no-date dial and a bezel that screams vintage tool watch. But for the trust-fund-baby buyer who cares about resale, hype cycles, and flipping potential, the 2001 presents a nuanced case. It’s not a Rolex Submariner, but it’s also not a cheap homage. Let’s break down the numbers.

At roughly $900 retail, the Squale 2001 sits in a crowded segment alongside the likes of the Seiko SPB143, the Baltic Aquascaphe, and the Oris Divers Sixty-Five. Its selling points are a Swiss automatic movement (typically a Sellita SW200), a sapphire crystal, and a 200m water resistance rating. But the real draw is the brand heritage—Squale’s history of manufacturing cases for Blancpain, Doxa, and others gives it a certain horological street cred. The question is: does that translate into a strong secondary market?

Manufacture History

Squale was founded in 1960 by Charles von Büren in Neuchâtel, Switzerland, but later moved to Italy. The brand is best known for producing dive watch cases for other brands like Blancpain, Doxa, and Aquastar. The Squale 2001 is a reissue of their classic 2001 model from the 1960s, featuring a distinctive 'Squale' logo and a super-compressor-style case design.

Movement

The Squale 2001 is powered by the Sellita SW200-1, a 26-jewel automatic movement beating at 28,800 vph with a 38-hour power reserve. It’s a workhorse based on the ETA 2824-2 architecture—reliable, easy to service, and found in countless microbrands. No elaborate finishing here; just functional perlage and a signed rotor. It’s not COSC-certified, but accuracy is acceptable for a tool watch.

Specifications

  • Case Diameter: 40mm
  • Case Thickness: 12.5mm
  • Lug-to-Lug: 48mm
  • Case Material: Stainless steel
  • Crystal: Sapphire
  • Water Resistance: 200m
  • Lume: Super-LumiNova C1
  • Bracelet/Strap: Oyster bracelet
  • Clasp: Folding

Wrist Feel

The Squale 2001 wears surprisingly compact for a 40mm diver. The 48mm lug-to-lug keeps it from overhanging on smaller wrists, and the 12.5mm thickness slides under a shirt cuff without protest. The oyster-style bracelet is comfortable but feels a bit rattly—the end links are solid, but the clasp is stamped and lacks micro-adjust. On a NATO or rubber strap, the watch transforms into a lightweight tool that disappears on the wrist.

Weight is balanced, though the bracelet adds a noticeable heft. The crown is signed and screws down smoothly. Overall, it’s a daily-wearable diver that doesn’t scream for attention—perfect for the collector who wants vintage vibes without the fragility of a 60-year-old watch.

Accuracy

Expect +10 to +20 seconds per day out of the box, which is typical for a non-COSC Sellita SW200. After a few weeks of wear, it may settle to around +8 to +15 s/d. Not a chronometer, but perfectly acceptable for a tool watch at this price point.

Occasions

Sport, daily, travel. It’s not a dress watch, but the vintage styling can work with a casual blazer.

Wrist Presence

3/5 — It’s a classic diver that doesn’t shout. The 40mm case and vintage proportions keep it understated, but the polished bezel and domed crystal catch light nicely. It’s present without being ostentatious.

Reference Variants

  • 2001 – Black gloss dial, oyster bracelet. Standard model.
  • 2001-2 – Blue sunburst dial, oyster bracelet. More playful.
  • 2001-3 – Black dial with gilt accents, leather strap. Limited edition.

Family References

Squale 1521, Squale 50 Atmos, Squale 2002.

Other Notable Models by Squale

Squale 1521, Squale 50 Atmos, Squale Master 2001.

Similar Watches

  • Seiko SPB143 – Similar 40mm diver with vintage styling, but Seiko’s 6R35 movement offers 70-hour power reserve.
  • Baltic Aquascaphe – French microbrand with a 39mm case, sapphire bezel, and a more affordable price point.
  • Oris Divers Sixty-Five – Slightly larger at 40mm, but with a more premium feel and in-house movement in newer models.

Homages

  • Steeldive SD1970 ($120) – Direct homage with Seiko NH35 movement.
  • Addiesdive MY-H2 ($80) – Budget homage with mineral crystal.

Investment Value

MSRP: $890. Current retail: $890. Pre-owned range: $600–$750. Trend: stable. The Squale 2001 is not a flipper’s dream. Pre-owned prices sit 20-30% below retail, and there’s no scarcity driving appreciation. Buy it to wear, not to flip. If you must invest, look for limited editions or NOS examples. Auction history: No major auction history. A few sold on eBay for around $700-$800 in excellent condition.

Service Interval

Every 5 years. Approximate cost: $250. Authorized only? No. Any competent watchmaker can service a Sellita SW200. Squale recommends sending to their service center in Italy, but local options are fine.

Price Range & Verdict

Range: $600–$900. Verdict: Fair value for a Swiss-made vintage-styled diver. Not a bargain, not a rip-off. Trust-fund babies should buy pre-owned to avoid depreciation.

Pros & Cons

Pros: Authentic brand heritage, comfortable 40mm case, sapphire crystal and 200m water resistance, clean legible dial.

Cons: Basic movement with 38-hour power reserve, cheap bracelet clasp, immediate depreciation, no scarcity.

Final Verdict

The Squale 2001 is a solid, honest diver that delivers on vintage aesthetics and Swiss reliability. But for the trust-fund-baby buyer looking at resale, it’s a hold, not a flip. Buy it pre-owned, wear it hard, and don’t expect a return. It’s a tool watch, not a portfolio asset.