AuctionsApr 29, 2025
‘Golconda Blue’ Diamond Pulled From AuctionAuctionsMay 14, 2025
Custom Rolex Pulled From Sotheby’s Sale
The one-of-a-kind platinum Rolex Cosmograph Daytona was estimated to fetch up to $1.7 million.
Sotheby’s said Tuesday that the consignor of this custom 1998 Rolex Cosmograph Daytona that was set to be the star of its recent watch auction withdrew it from the sale.
Geneva—A custom Rolex Cosmograph Daytona that was expected to be the top lot in Sotheby’s Important Watches Part I auction was pulled from the sale.
The auction took place Sunday in Geneva.
In an email to National Jeweler Tuesday morning, Sotheby’s confirmed the watch, a Ref. 16516 made in 1998, was withdrawn at the request of the consignor.
Estimated to sell for between $850,000 and $1.7 million, the one-of-a-kind Rolex is one of the most “elusive and compelling” automatic Daytonas ever discovered, Sotheby’s said.
The platinum Zenith-powered Daytona was one of four Rolexes commissioned in a single order by the same collector (rumored to be the late Patrick Heiniger, Rolex’s CEO from 1992 to 2008) in the late ‘90s, more than a decade before Daytonas were even made available in platinum.
Related stories will be right here …
The auction took place Sunday in Geneva.
In an email to National Jeweler Tuesday morning, Sotheby’s confirmed the watch, a Ref. 16516 made in 1998, was withdrawn at the request of the consignor.
Estimated to sell for between $850,000 and $1.7 million, the one-of-a-kind Rolex is one of the most “elusive and compelling” automatic Daytonas ever discovered, Sotheby’s said.
The platinum Zenith-powered Daytona was one of four Rolexes commissioned in a single order by the same collector (rumored to be the late Patrick Heiniger, Rolex’s CEO from 1992 to 2008) in the late ‘90s, more than a decade before Daytonas were even made available in platinum.
The news of this rare Rolex being pulled from auction follows the withdrawal of another high-value auction item last month.
According to Christie’s, the owner of the “Golconda Blue,” a 23.24-carat blue diamond set to headline its Magnificent Jewels sale today, decided to sell it within the family instead of putting it up for auction.
Set in a ring by Joel Arthur Rosenthal, better known as JAR, the diamond was estimated to sell for $35 million to $50 million.
The top lot of Sotheby’s Important Watches Part I sale, according to its website, was a Patek Philippe Nautilus, Ref. 5711/1300A-001.
The stainless steel and diamond-set wristwatch, circa 2021, with a green dial sold for 368,300 CHF ($440,000), within its expected range.
It was followed by a Patek Philippe Aquanaut Travel Time white gold automatic wristwatch, which also sold within its estimate, achieving CHF 336,550 ($405,000).
The auction totaled CHF 6.7 million ($8.1 million) with 78 percent of lots finding new owners, according to Rapaport.
More on Auctions
The Latest
GradingMar 06, 2026
Tom Moses Leaving GIA After Nearly 50 YearsMoses, who started at GIA’s Santa Monica lab in 1976, will leave the Gemological Institute of America in May.
Lab-GrownMar 06, 2026
Charles & Colvard Files for Bankruptcy, Citing Price PressuresIncreased competition, falling lab-grown diamond and moissanite prices, and the rising cost of gold took a toll on the moissanite maker.
CollectionsMar 06, 2026
Zome’s ‘Solara’ Earrings Embody Celestial BeautyThe earrings, our Piece of the Week, feature pink tourmalines as planets orbiting around an aquamarine center set in 18-karat rose gold.
Brought to you by
Is This You? Every Jeweler Has This Problem; We Have the Solution.Every jeweler faces the same challenge: helping customers protect what they love. Here’s the solution designed for today’s jewelry business.
MajorsMar 06, 2026
Pomellato’s 2026 IWD Campaign Spotlights Economic Abuse“The Price of Freedom” campaign video for International Women’s Day confronts the quiet violence of financial control.
Weekly QuizMar 05, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Policies & IssuesMar 05, 2026
Tariffs to Increase to 15% This Week, Treasury Secretary Says Also, a federal judge has ordered that companies that paid tariffs implemented under the IEEPA are entitled to refunds.
CollectionsMar 05, 2026
Common Era Honors ‘Difficult Women’ in CollectionThe ever-growing collection, which just expanded with the addition of Olga of Kyiv, features cameos of 12 women from history.
Brought to you by
DCA Enters a New Chapter in Jewelry EducationWith refreshed branding, a new website, updated courses, and a pathway for growth, DCA is dedicated to supporting retail staff development.
TrendsMar 05, 2026
Engagement Ring Trends 2026: What’s In, and WhyWe asked a jewelry historian, designer, bridal director, and wedding expert what’s trending in engagement rings. Here’s what they said.
Events & AwardsMar 05, 2026
AGS Announces Conclave 2026 Speaker LineupThe annual event will be held in Orlando, Florida, from Sept. 14-17.
TrendsMar 05, 2026
Caitríona Balfe Fronts Only Natural Diamonds CoverThe “Outlander” star modeled for the digital cover of the magazine’s spring issue, which features a story on her relationship with jewelry.
MajorsMar 05, 2026
Registration Opens for CIBJO Centenary CongressThis year’s annual congress, which will mark the confederation’s 100th anniversary, will take place this fall in Italy.
MajorsMar 04, 2026
Michael M Opens First StoreBeverly Hills was chosen as the location for the brand’s first store, designed as a “private residence for modern monarchs.”
Policies & IssuesMar 04, 2026
Luxury Brands Temporarily Shutter Middle East StoresKering, Apple, and other retailers have reportedly temporarily closed stores in the Middle East region in light of the recent conflicts.
EditorsMar 04, 2026
Q&A: Brilliant Earth’s CEO on the New Beverly Hills StoreBeth Gerstein discusses the vibe of the new store, what customers want when fine jewelry shopping today, and the details of “Date Night.”
Events & AwardsMar 04, 2026
JIS Miami Spring Show to Feature New Gifts Pavilion, Pop-Up Trends TalksNearly half of buyers are prioritizing silver and fashion collections this season, organizers said.
TrendsMar 04, 2026
Spinelli Kilcollin Rides Free In Year of the Horse CampaignThe “Live Now. Polish Later.” campaign features equestrians wearing the brand’s jewels while galloping across the icy plains of Kazakhstan.
MajorsMar 04, 2026
LeachGarner Names New Brand DirectorThe precious metals provider has promoted Jennifer Ashworth to the role.
Events & AwardsMar 03, 2026
Johnny Nelson Wins David Yurman Gem Awards GrantNelson will be honored as the inaugural grant winner at the Gem Awards gala on March 13.
SourcingMar 03, 2026
7 Trends That Could Define the Diamond Industry’s FutureExperts from India weigh in the politics, policies, and market dynamics for diamantaires to monitor in 2026 and beyond.
MajorsMar 03, 2026
Swiss Refiner Completes Acquisition of Gannon & ScottThe American precious metals refiner’s day-to-day operations remain the same post-acquisition.
TrendsMar 03, 2026
Amanda’s Style File: AquatopiaThese aquamarine jewels channel the calming energy of the March birthstone.
Events & AwardsMar 03, 2026
AGTA Adds Another New Category for SpectrumThe “Innovative Design” category and award will debut in the Spectrum division of this year’s AGTA Spectrum & Cutting Edge Awards.
EditorsMar 02, 2026
Jewelry at the Actor Awards: Reimagining Hollywood GlamourDiamond jewelry was the star of the event formerly known as the SAG Awards.
SurveysMar 02, 2026
Consumer Confidence Edges Up in FebruaryConsumers were somewhat less worried about the future, though concerns about rising prices and politics remained.
Events & AwardsMar 02, 2026
JVC to Honor Rebecca Foerster at Annual LuncheonFoerster is this year’s Stanley Schechter Award recipient.
Events & AwardsMar 02, 2026
JFC Names 2026 ‘Facets’ Honorees Sponsorships and tickets to the annual fundraising event, set for May 31, are available now.
