by Kyle Stults on April 11, 2014
Highlighting Antiquorum’s auction of “Important Modern & Vintage Timepieces” this past Wednesday, April 9th in New York was a Rolex Ref. 6263 Paul Newman in Steel [lot 289] with its iconic “panda” dial. The rare chronograph inspired a passionate (perhaps aggressive is a better word) bidding war between eight phone bidders and a room bidder, finally selling to the room bidder for a staggering $231,750. For a bit of perspective, this “Original owner” Rolex went for $30,000 MORE than a Patek Philippe Ref 5102 “Celestial” which also sold in the auction. No doubt, the Rolex market is insane right now. And an original owner 6263 in condition such as this one is easily seen as a must have for a serious Rolex collector.
ROLEX, REF. 6263, STEEL CASE, “PAUL NEWMAN” PANDA DIAL
Made in 1970, sold March 6th, 1972. Original Owner Sale.
Original hands, overall exceptional condition. Accompanied by the original fitted box, original guarantee (now void), copy of service invoice dated August 27, 2008, instruction manual, and a booklet.
37mm steel case with screw down pushers, with Valjoux 727 caliber inside
“We are delighted by the outstanding result for the Rolex ‘Paul Newman’ Ref. 6263 in our April auction,” said Saori Omura, Watch Director, Antiquorum USA. “As confirmed by today’s results, rare timepieces offered from the property of its original owner continue to be highly sought-after by savvy collectors across the globe.”
Official lot notes on the Rolex Ref 6263 Paul Newman can be seen here>>>
And for a good overview of the iconic Rolex “Paul Newman” family, check out this good References Points video by Hodinkee:
Did you know that Rolex only has two watch “collections”? That’s right — Oyster and Cellini. Because the watches in the Rolex Oyster collection are so vast and diverse, most people don’t really think of them all as being part of just one collection. But what most people think of when they hear the name ‘Rolex’ are the watches of the Oyster collection. The Cellini is Rolex’s “other” and much less-known collection. I rarely give Cellini’s any attention. But this year the new Cellini models, in particular their guilloche dials (except on the time-only model) – caught my eye. Very elegant, and nicely sized at 39mm. Have a look.
by Kyle Stults on March 26, 2014
Another hot launch from Rolex this year — a GMT-Master II with Cerachrom “Pepsi” bezel, in white gold case. After last year’s GMT “Black and Blue” (Ref 116760), this watch was wisely anticipated by many Rolex aficionados. Though the white gold case is somewhat of a surprise, this watch, like the GMT Black and Blue, will be another huge hit. The red and blue ceramic (Rolex trademarked their “Cerachrom”) bezel on this watch looks amazing — the bezel numerals are engraved and given a fine coating of platinum to enhance readability. The case stays at 40mm, with white gold Oyster bracelet with polished center links; same also is the Rolex Cal 3186.
With this our official coverage of Baselworld 2014 beings: Rolex has just unveiled the Sea-Dweller 4000, featuring a 40 mm case, black ceramic bezel, helium escape valve and depth rating of 4000 feet (1220m). The bracelet is also upgraded with Rolex’s Glidelock & Fliplock clasp features on the bracelet. The caliber is the Rolex 3135.
This is certainly an intriguing release — a “reissue” of sorts. The Sea-Dweller first debuted in 1967 and was discontinued in 2008, which I suppose makes the new 116600 one that purists might love.
by Kyle Stults on March 17, 2014
The highlight of Antiquorum’s recently concluded (March 16) “Important Modern & Vintage Timepieces” auction in Geneva was this exceptional Rolex “Big Crown” Sub (Ref. 6200), circa 1954. The extremely rare Rolex has the attractive “Explorer” style dial (with printed 3, 6, and 9 instead of hash marks) and was rated overall to be in exceptional condition. The Ref 6200 is rarer than both its counterpart Sub references 5510 and 6538 and is certainly a grail for many Rolex collectors. After intense bidding it sold for a whopping CHF 183,750 (incl. Buyer’s premium) — about $210,000 at current f/x. This result is more than 2.5 times the high end of the pre-sale estimate range and evidences continued strength at auction for exceptional examples from Rolex. While some might see it as insane amount of money for a stainless steel Rolex Sub, the Buyer surely disagrees. In any case, the vintage Rolex market seems to know no bounds these days.
Rolex Big Crown Submariner Ref 6200 with Explorer Dial
38mm steel case
Bob’s Watches out of Huntington Beach, CA is a company that I’ve simultaneously been aware of and been curious about for awhile. Recently I put some questions to Paul Altieri, Chief Marketing Officer of the business with the goal of sharing these insights with the Perpetuelle audience. Bob’s Watches is basically a consumer to consumer business model seeking to eliminate the “middleman” cut. However as I understand it Bob’s does acquire and own the watches (almost all directly from individuals) it offers on its website, so they are somewhat of a middleman (in contrast to, say, a forum where transactions truly are P2P). Even so, what has intrigued me about the approach of Bob’s Watches is their use of a “bid/ask” pricing model. This is similar to the watchXchange platform I built here at Perpetuelle many years ago, though Bob’s exclusively deals in Rolex. Though the secondary market for Rolex is the most highly developed of any brand in the world and individuals have myriad options for transacting, Bob’s seems to be doing well their particular approach. So as I say I put some questions to company and below is what came back.
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On November 10th and 11th 2013, Christie’s Geneva three-session auction of important watches realized an unprecedented combined total of $43,985,467 (€32,823,824) with 370 watches sold, the highest result for a series of watch sales ever held. On November 11th alone, the various-owner Important Watches sale totalled $30,737,300 (€22,956,887), with 92% of all lots sold. A quick review of the auction results clear shows that Patek Philippe and Rolex were the stars, confirming their ongoing dominance as the marks of choice for most high-end collectors.
For just a few specific examples you can turn to the Patek Ref 2499 in pink gold that sold for $2.2 million, the Rolex Cosmograph Daytona Ref. 6263 “Paul Newman” that sold for $1.1 million a couple days ago, as well as the rare Patek Philippe “Duke Ellington” Ref 1563 that sold for $1.6 million just yesterday, all as I profiled here on Perpetuelle. This is not an isolated trend — watch prices have been super strong across the board this year.
So, should we thank Ben Bernanke and his global counterparts for all of the “stimulus” these past many years, or is this supremely strong demand and rising watch prices merely a reflection of sustainable gains in wealth? I wonder.
by Kyle Stults on November 11, 2013
SOLD! Rolex Daytona Record…$1,089,186…
Some might call it Rolex passion, perhaps others may call it Rolex insanity. Whatever your view on yesterday’s Christies “Lesson One” sale which featured 50 exception examples of the Rolex Daytonas, it was a whopper of an event. In particular, this new record-setting Ref 6263 Rolex Daytona “Paul Newman”, a steel-cased mechanical chronograph which sold for a cool $1.1 million. An absolute record price for any Rolex Daytona ever sold at auction. Two other examples, one a Ref 6263 and one a white dial/black register 6239, sold for more than $800,000 apiece. The entire 50-piece sale netted approximately $13.25 million, which equates to an average sales price of $240,000 per Daytona– talk about Rolex madness!!!!
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Editor’s Note: I am pleased to present this the first in a series of original short stories, authored by Perpetuelle’s very own James Bond, that will be published on Perpetuelle this summer. Of course, there is a watch in every story. Enjoy this departure from the usual!
The private aircraft was on a course from Brisbane, Australia to Honolulu, Hawaii and had, so far, been smooth flying. The Captain glanced at his watch and adjusted the second time zone to reflect Hawaii’s time. He was wearing a Rolex GMT-C in two-tone. Local time in Brisbane was 1:17pm and in Honolulu it was 9:17am the following day. He loved his GMT-C and always trusted the time it read. Three hours after the takeoff the weather had been clear and sunny at 38,501 feet. But now, that positive outlook changed when the Captain saw the clouds moving in. The autopilot disengaged when turbulence struck, forcing the Captain to take control of the aircraft.
The Captain checked the air speed which read 275 knots, the equivalent of about 316 mph. Outside of the plane the temperature dropped significantly with precipitation increasing rapidly and seconds later, the aircraft’s recorded airspeed dropped sharply from 275 knots to 58 knots. Unbeknownst to the Captain, the crew, and lone passenger, a severe storm system similar to a Mesoscale Convective Complex had formed all around them.
by Kyle Stults on June 10, 2013
Single-Red, Single-Owner, Missing Bezel ?!?!…
Today was Sotheby’s “Important Watch and Clocks” sale in New York. Although a bit light on high-dollar pedigree, it was a strong auction for the lots that did go up, save for a few (see ‘Other lots of note’ below). Of the 258 lots offered, about 95% went above the estimated range — some significantly so.
The top lots, both at $461,000, were a Patek Ref 5013P minute repeater perpetual calendar and a diamond-set white gold Chopard L.U.C tourbillon (pre-sale est. $100-$150,000), but perhaps more headline-worthy was a 1967 Rolex Ref 1665 “Single-Red” Sea-Dweller which sold for a whopping $383,000. The pre-sale estimate on this piece was a mere $60,000-$80,000, but it seems that collector’s could not resist the provenance of this piece. And who could blame them — this Single-Red Sea-Dweller was also “Single-Owner” (since 1967), the property of a an accomplished American Navy diver. The “original owner” status along with the relative rarity of the Single-Red Sea-Dweller in all its ‘character’ made this piece highly coveted — a superb collector’s catch in today’s world of high-dollar collecting. Never mind that the bezel is missing, bid it up!
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