With the auction still going on in Geneva, Phillips in Association with Bacs & Russo, leading watch auction house, announces that it has set a new world record for the highest price ever achieved at auction for a Rolex wristwatch. The watch that sold for $5,060,427 is a legendary timepiece, Reference 6062: "Bao Dai." The watch belonged to His Majesty Bao Dai, the last emperor of Vietnam.
There was an eight-minute bidding war between 10 in-room bidders at the Hotel La Reserve in Geneva, and three people bid by phone. The watch is a triple calendar with moonphase indication. Crafted in18-karat yellow gold, it is one of only three black-dial models known to exist. It is the only one that features diamond markers at the even hours, making it a unique piece.
In order to put the diamond marker at the 12:00 position, certain things had to shift. The Rolex crown logo moved down on the dial so the "Rolex Oyster Perpetual" words were also moved down, and the "officially Certified Chronometer" wording was placed beneath the moon phase indicator instead of in the center of the dial. This watch is considered by experts and collectors as a holy grail piece and possibly the most valuable Rolex watch on the market. It was first sold at auction in 2002 for a then record-breaking 370,000 Swiss Francs.
The Bao Dai Rolex is the only one in existence with diamond markers at the even numbers and with the... [+]
Born Nguyễn Phúc Vĩnh Thụy, Bao Dia was the 13th emperor of the Nguyen Dynasty (and the last). He was not granted the title Bao Dai (Keeper of Greatness) until he took the throne in 1925 at the age of 12.
