Aurel Bacs has sold some of the most expensive watches in history. On Monday night in London he did it again, though slightly differently. Bacs hosted an auction of four unusual Daytonas created specifically for the event.
Rolex made them, Rolex consigned them, and Rolex wasn't in the room to bid. They were called Spring, Summer, Autumn and Winter. There was no provenance, no previous owner, no grandfather, and no expedition. The only history they had was whatever happened next. Has to be one of the coolest watch auction ideas in recent times, right?
And just like that a whopping $49.4 million were spent. Summer, the top lot, fetched about $13.66 million. Spring, the lowest of the four, still made $9 million, which is an unbelievable result for a modern Daytona. For scale, the most expensive Rolex ever sold, Paul Newman's own, went for $17.75 million in 2017, after decades of being worn, owned and mythologised. FYI, these watches had none of that.
This is what makes the night strange. Rolex almost never sells at auction. Gem-set Daytonas like these aren't in the public catalogue at all. They are quietly allocated to long-standing clients of the biggest boutiques, and Rolex doesn't discuss them. The auction reversed the whole system. A secret was put under a spotlight, with a date, a podium and an audience. In fact, the market has long kept a gap between what Rolex charges and what people will actually pay.
Flippers, grey-market dealers, auction houses have all pocketed it. One trade commentator noted that this time Rolex collected that margin itself, in a packed saleroom. It also built the scarcity from scratch. Then there's the giving. Every dollar goes to the Federer Foundation and Re:wild, and no buyer's premium applied. One charity works on education, the other on the environment, founded by Roger Federer and Leonardo DiCaprio respectively. Nobody should sneer at the cause. But the arrangement is neat: the price of admission to the year's most exclusive watch is a donation, and the bidding paddle doubles as a halo.
Having said that, here are the four one-of-kind Rolex Daytonas that were auctioned off this week:
Reference: 126595 SARO
Material: 18 ct Everose gold
Dial: Crafted from turquoise with counters in heart of ruby
Hour markers: 8 baguette-cut pink sapphires and 3 square-cut pink sapphires in 18 ct pink gold settings
Bezel: Set with 36 trapeze-cut pink sapphires (approx. 4.32 ct)
Lugs and crown guard: Set with 54 brilliant-cut diamonds (approx. 0.86 ct)
Calibre: 4131, power reserve of approx. 72 hours
Superlative Chronometer certified
Price: $13.65 million
Reference: 126599 SAVL
Material: 18 ct white gold
Dial: Crafted from chrysoprase with counters in lepidolite
Hour markers: 8 baguette-cut purple sapphires and 3 square-cut purple sapphires in 18 ct white gold settings
Bezel: Set with 36 trapeze-cut purple sapphires (approx. 5.57 ct)
Lugs and crown guard: Set with 54 brilliant-cut diamonds (approx. 0.86 ct)
Calibre: 4131, power reserve of approx. 72 hours
Superlative Chronometer certified
Price: $9 million
Reference: 126598 TML
Material: 18 ct yellow gold
Dial: Crafted from mookaite with counters in chrysoprase
Hour markers: 8 baguette-cut green tourmalines and 3 square-cut green tourmalines in 18 ct yellow gold settings
Bezel: Set with 36 trapeze-cut green tourmalines (approx. 4.32 ct)
Lugs and crown guard: Set with 54 brilliant-cut diamonds (approx. 0.86 ct)
Calibre: 4131, power reserve of approx. 72 hours
Superlative Chronometer certified
Price: $13.5 million
Reference: 126596 SABV
Material: 950 platinum
Dial: Crafted from blue opal with counters in lapis lazuli
Hour markers: 8 baguette-cut diamonds and 3 square-cut diamonds in 18 ct white gold settings
Bezel: Set with 36 trapeze-cut sapphires in a blue to fuchsia gradient (approx. 5.57 ct)
Lugs and crown guard: Set with 54 brilliant-cut diamonds (approx. 0.86 ct)
Calibre: 4131, power reserve of approx. 72 hours
Superlative Chronometer certified
Price: $13.2 million