Rare Rolex sells at Phillips for world record $5 million
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Loading...A vintage Rolex wristwatch sold at Phillips in Geneva for $5,060,427, becoming the most expensive Rolex ever auctioned.
The watch, a 1952 reference 6062 called the "Bao Dai," led a record-high watch sale by Phillips on May 13 and 14 that totaled $32.6 million, the highest result ever in the history of watch auctions.
The Bao Dai is named after its former owner, the last emperor of Vietnam, who purchased the timepiece in Geneva during peace negotiations in 1954.
The 18-karat yellow gold wristwatch is one of only three models to feature a black dial and diamond hour markers. Of those models, the Bao Dai is the only watch known to exist with diamonds at the even hours instead of the odd. The rock at 12 o'clock forced Rolex to move its trademark crown below the diamond, resulting in the only dial of its kind in the world.
"The demand for such a rare collector's watch can be compared with the demand for a rare Ferrari convertible from the 1950s, a great painting, a great jewel," said Aurel Bacs, senior consultant for Phillips.
The watch last sold in 2002 for a then-world record price of $235,000.
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