While Rolex watches certainly command a high price. Christie’s mid-November 2013 auction has set a new record for how much money such a watch can fetch. While many never-before-seen items were put up for sale at this auction, it is the Lot 23 1969 Paul Newman Stainless Steel Chronograph that has watch lovers talking. This particular piece sold for close to US$ 1,100,000, a record for one of Rolex’s stylish men’s watches.
The Lot 23 1969 Paul Newman Stainless Steel Chronograph has an interesting history. The front of this particular Rolex watch is different from other watches because the “R” is larger and the serifs are more accentuated. Additionally, the dial reads “Rolex Cosmograph Oyster” instead of the regular “Rolex Oyster Cosmograph.” The watch was manufactured in 1969 and Christie’s sold it together with the original box and papers, which was probably one reason why it fetched such a high price.
Christie’s also offered various other rare Rolex watches, many of which commanded a much higher price than this respectable auction house had originally anticipated. The Rolex Daytona 6263 Watch, for instance, sold for well over US$ 850,000. This particular watch was a custom-made watch that was created in 1974 for Sultan Qaboos Bin Said Al Saidand. Other, similar Rolex watch models sold for anywhere from US$ 55,000 to US$ 830,000. All told, Christie’s made about US$ 13,000,000 from the sale of about 50 unique, rare Rolex watches.
While this particular auction has certainly raised Rolex’ profile as one of the top luxury watchmakers in the world, it is worth noting that the company’s watches have already had a great deal of success in fetching high prices at past auctions. The value of a particular Rolex watch is in large part based on when, where, how and why it was created; however, there is more to one of the company’s unique antique watches than these factors alone. Because these watches are often worn by famous businessmen, politicians and other world changers, buyers are eager to pay a high price in order to keep a bit of history that once pertained to a well-known individual.
Rolex has been in the business of creating some of the world’s best luxury watches since 1905. From the time of the company’s creation to the present day, it has manufactured top quality, stylish watches that men and women the world over can wear with pride. While the buyer of Rolex’s first million dollar watch is unknown, what is known for a fact is that the watch is sure to gain in value as the years go by. Those who purchased other Rolex watches at Christie’s November 2013 Rolex Watch Auction are also sure to earn a high asking price for their purchases should they opt to sell them later on. All in all, the future looks bright for rare Rolex watch owners, as people the world over come to appreciate the style and beauty found in these unique timepieces.