18 Jun '17, 3pm

Rare Rolex Sells For World Record $5 Million

Rare Rolex Sells For World Record $5 Million

Lot 93, a rare vintage Rolex Bao Dai Rolex Ref. 6062 has just sold for 4.3-million Swiss francs (or a little more than $5 million, including buyer’s premium) at the ongoing Phillips in association with Bacs and Russo Geneva Auction Five auction. In 2002, the same watch sold for $235,000. At the time, it was the highest auction price ever paid for a Rolex . The bidding for the watch this time around started at $1.5 million, so the watch has risen in value 21 times since 2002. With Rolex having just introduced its first moon phase watch since the ref. 6062 was in production, the timing of the sale is perfect. “This is the one of world’s most important collector’s watches, across all brands, not just Rolex. Made in 1952, it is a rare creation for Rolex.” Paul Boutros, Head of Americas & International Strategy Advisor for Phillips The watch belonged to Bao Dai, the last empero...

Full article: http://www.watchuseek.com/rare-rolex-sells-world-record-5...

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