The Allure of Rolex: The World’s Most Powerful Watch Brand Outperforms at Auction

Auction house Phillips, in Association with Bacs & Russo, sold $7.8-million worth of Rolex watches in a special Rolex-themed sale in Hong Kong recently, setting a record for the highest price paid for a Rolex at a sale in Asia: $1,015,732 for a stainless steel Ref. 8171 “Padellone,” a triple-calendar watch with a moon phase display. The watch is a rare Rolex complication that was made only for a few years in the 1950s in very small numbers. A few days later, at the $7.1-million sale of Sotheby’s Sale of Important Watches in New York City, several Rolex pieces sold for well above their estimates, including two “Paul Newman” Daytona models for $275,000 and $212,000, and a rare yellow gold triple calendar complication for $168,000. Both watches were originally sold in the 1960s. Read more