21 Jul '16, 11am

Is the new Rolex Oyster Perpetual Cosmograph Daytona investment standard?

Is the new Rolex Oyster Perpetual Cosmograph Daytona investment standard?

Last year two anonymous phone bidders made history when their feverish nine minutes of bidding ended with a Patek Philippe 5016A selling for $7.3m – 10 times its estimate. The crowd at the La Reserve Hotel in Geneva burst into spontaneous applause, delighted to have witnessed the sale of the most expensive wrist-watch ever. Stories like this clearly don't come along every day, but ones in which watches end up selling for six or even seven figures are increasingly common. In May a Rolex Daytona “Paul Newman” Ref. 6263, one of only two known to exist with a brown “tropical” dial, sold for a shade over $2m. These tales are music to the ears of watch collectors – the idea that one day their endeavours will end not only with a box full of wonderful timepieces, but a big-money payday. It's the ultimate example of having your cake and eating it: you get to own some of the most te...

Full article: http://www.cityam.com/245912/watches-investments-rolex-oy...

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