World Record Set for Highest Price Ever Achieved for any Rolex Wristwatch at Auction

Rolex Auction

The Legendary Rolex “Bao Dai”, Reference 6062, Sells for CHF 5,066,000 / €4,629,817 / US$5,060,427

Phillips in Association with Bacs & Russo, the world’s leading watch auction house, has set a new world record for any Rolex wristwatch at auction. Following an eight minute bidding war, between ten bidders in the room and three on the telephone, the iconic Rolex Reference 6062, “Bao Dai” sold for CHF 5,066,000 to a phone bidder. In a packed saleroom, watch enthusiasts from around the world followed this historical moment after months of anticipation. The atmosphere was electric and the sale continues tomorrow, 14 May, at Hôtel La Réserve in Geneva.

Aurel Bacs, Senior Consultant, said: “A watch that was originally discovered at Phillips in 2002, it was an absolute honour to offer the Rolex 6062 “Bao Dai” for the second time in my career. Phillips has now surpassed its own world auction record for a Rolex, set in this saleroom 12 months ago. The combination of the iconic name Rolex, its extraordinary rarity and originality, crowned by the imperial first owner, this world auction record result is a testimony that Phillips’ stringent approach of bringing only the finest quality collectors watches to the market is the winning formula.”

The iconic Rolex Reference 6062, “Bao Dai”, is widely considered by the collecting community and cognoscenti as being among the most valuable and desirable Rolexes ever made by the prestigious manufacturer. This Rolex triple calendar with moonphase in yellow gold is one of only three black dial models known to exist with diamond markers. Of the three, the Bao Dai is the only example to feature diamond markers at the even hours, making this piece truly unique. This is further enhanced by imperial provenance, having belonged to His Majesty Bao Dai, the last emperor of Vietnam. The “Bao Dai” first appeared on the market in 2002, when Phillips sold it for a then record-breaking price, making it the most expensive Rolex ever sold at auction.

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