EditorsJun 11, 2025
Q&A: Al Cook on Differentiating Natural Diamonds, Traceability, and TariffsThe De Beers Group CEO discusses the company’s new “beacon” program, the likelihood diamonds will be exempt from tariffs, and “Origin.”
AuctionsApr 03, 2017
The Rolex That Might Sell for More Than $2.5M
The coveted, black-dialed “Bao Dai” returns to auction next month in Geneva and could become the most expensive Rolex ever sold at auction.
The Rolex “Bao Dai” is one of only three Rolexes with a black dial and diamond markers and is the only one with the markers at the even hours. The last emperor of Vietnam, the Bao Dai, bought the watch in Geneva in 1954.
Geneva--A rare Rolex with a historically significant backstory could become the most expensive watch from the brand ever sold at auction when it goes under the hammer in Geneva next month.
The 35 mm reference 6062 “Bao Dai” Rolex made its debut at Baselworld in 1950, and the watch lays claims to its fair share of “onlys”--it’s one of only three models from Rolex with a black dial and diamond markers; of those three, it’s the only one with diamonds at the even hours; and it’s the most complicated Oyster case model ever made by Rolex, featuring day, date, month and moonphase indications.
And, like any great piece of jewelry or watch that’s bound to stir up aggressive bidding at auction, the Bao Dai also has a fantastic back story.
The Bao Dai bought this Rolex in Geneva in 1954 when he was in town attending the Geneva Conference, the meeting that resulted in the Geneva Accords, which brought an end to the first Indochina War.
Paul Boutros, the head of Americas and senior vice president for Bacs & Russo, said they do not know how much the Bao Dai originally paid for this watch, as it was never sold commercially or appeared in catalogs.
(Bacs & Russo runs the watch department at Phillips; well-known watch auctioneer Aurel Bacs and his wife, watch specialist Livia Russo, re-established the department for the auction house in 2014.)
The Bao Dai died in 1997, and Boutros said that in 2002, the emperor’s family consigned the watch and it sold for $235,000 at Phillips, making it then the most expensive Rolex ever sold at auction.
The man who bought it in 2002 sold it to a private collector, and it is this collector who is bringing the watch back to Phillips for a second sale, Boutros said.
“In this era of advanced technology, where consumer products become obsolete within months, people are attracted to the enduring aspect of fine mechanical watches, which are built to last an eternity.” --Paul Boutros, Bacs & RussoWhile the watch auctioneer gives a pre-sale estimate of more than $1.5 million, watch collector Edmond Saran
went a step further on his website, Le Monde Edmond, writing that the Bao Dai Rolex will sell for “a heck of a lot more” than $1.5 million and that it will, in fact, break the record for the most expensive Rolex ever sold at auction.
That record is currently held by the Rolex reference 4113 “Split-Seconds” that Phillips sold for $2.5 million in Hong Kong last November.
When asked if he agreed with this estimate, Boutros said that while the auction house has published its estimate at more than $1.5 million, the Bao Dai Rolex “has to be considered as a serious contender to achieve a record-breaking price.”
He said like collectible cars and contemporary art, the market for collectible watches has grown at a “healthy pace” since the last time the watch was sold, in the early 2000s, hence the reason why a watch that sold for less than $300,000 fifteen years ago can be expected to go for more than $2.5 million today.
“In this era of advanced technology, where consumer products become obsolete within months, people are attracted to the enduring aspect of fine mechanical watches, which are built to last an eternity,” Boutros said.
Phillips is auctioning off the Bao Dai, along with a number of other vintage Rolexes, at Geneva’s Hôtel La Réserve on May 13 and 14, holding the sale in association with Bacs & Russo.
Online bidding will be available for all those registered to bid and vetted by Phillips prior to the sale.
More on the other watches being offered can be found on the Phillips website.
That record is currently held by the Rolex reference 4113 “Split-Seconds” that Phillips sold for $2.5 million in Hong Kong last November.
When asked if he agreed with this estimate, Boutros said that while the auction house has published its estimate at more than $1.5 million, the Bao Dai Rolex “has to be considered as a serious contender to achieve a record-breaking price.”
He said like collectible cars and contemporary art, the market for collectible watches has grown at a “healthy pace” since the last time the watch was sold, in the early 2000s, hence the reason why a watch that sold for less than $300,000 fifteen years ago can be expected to go for more than $2.5 million today.
“In this era of advanced technology, where consumer products become obsolete within months, people are attracted to the enduring aspect of fine mechanical watches, which are built to last an eternity,” Boutros said.
Phillips is auctioning off the Bao Dai, along with a number of other vintage Rolexes, at Geneva’s Hôtel La Réserve on May 13 and 14, holding the sale in association with Bacs & Russo.
Online bidding will be available for all those registered to bid and vetted by Phillips prior to the sale.
More on the other watches being offered can be found on the Phillips website.
More on Auctions
The Latest
MajorsJun 11, 2025
Pandora Bets on Las Vegas for First North American FlagshipThe Danish jewelry giant hosted its grand opening last weekend, complete with a Pandora pink roulette wheel.
GradingJun 11, 2025
Tiffany Stevens Exits IGI, Lab Appoints New Board LeaderIndustry veteran Anoop Mehta is the new chairman and independent director of the IGI board.
Brought to you by
Jewelers of America is Headed to Las Vegas for JCK 2025The countdown is on for the JCK Las Vegas Show and JA is pulling out all the stops.
Events & AwardsJun 11, 2025
Kering Announces Winners of Sustainability-Focused AwardThe winners of the inaugural “Kering Generation Award x Jewelry” are student Lee Min Seo and China-based startup Ianyan.
Weekly QuizJun 05, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SourcingJun 10, 2025
De Beers Turns to Brown, Yellow Diamonds for New ‘Beacon’“Ombré Desert Diamonds” will emphasize cream-, champagne-, and brown-colored diamonds, shades that set natural stones apart from lab grown.
CollectionsJun 10, 2025
Tabayer Names Mary Chiam as CEOThe brand also debuted its new “Zorae” collection featuring a talisman of protection and harmony inspired by a sheaf of wheat.
Brought to you by
The True Power Behind the Counter: Why Sales Associates Are the Heart of the Jewelry BusinessWhen investing in your jewelry business, it's important not to overlook the most crucial element of success: the sales associates.
MajorsJun 10, 2025
Lauren Johansen Joins Loudr As Loudr’s new account manager, Johansen will partner with clients to craft and execute marketing strategies.
Events & AwardsJun 09, 2025
And the Winners of the 2025 Couture Design Awards Are … Designers were recognized in 12 categories, from platinum to pearls, before the evening ended with a new, retail-focused award.
Events & AwardsJun 09, 2025
Here Are the 2025 Retailer Hall of Fame InducteesThis year’s honorees include a Midwest retailer and two multi-store independents, one in New York and the other in New England.
Events & AwardsJun 09, 2025
CASE Awards Now Accepting Entries For 2025The deadline to submit is June 16.
MajorsJun 09, 2025
RDI Diamonds Partners With LavalierThe diamond wholesaler is working with the insurance provider to seamlessly offer personal jewelry insurance to RDI retailers’ clients.
CollectionsJun 06, 2025
Piece of the Week: Harwell Godfrey’s ‘Granny Squares Eleanor’ Necklace As an homage to iconic crochet blankets, the necklace features the nostalgic motif through a kaleidoscope of cabochon-cut stones.
Events & AwardsJun 05, 2025
The 12 Fresh Faces in Couture’s Design AtelierDiscover the dozen up-and-coming brands exhibiting in the Design Atelier for the first time.
SourcingJun 05, 2025
A Rare Suite of Rubies Has Arrived in Las VegasThe “Royal Ruby” Collection is a quintet of untreated rubies curated by collector Jack Abraham.
Events & AwardsJun 05, 2025
Daymond John to Give Keynote at JCK Las VegasThe entrepreneur and “Shark Tank” star will share his top tips for success.
MajorsJun 05, 2025
Platinum Guild International Updates Leadership TeamTwo existing executives have been given new roles.
Events & AwardsJun 05, 2025
Zillion Announces 'Women in STEM' Scholarship RecipientMeredith Tiderington, an electrical engineering student, was selected for the award.
Lab-GrownJun 04, 2025
GIA Reverting to More General Terminology for Lab-Grown DiamondsIt will quit assigning the stones specific color and clarity grades in favor of applying “new descriptive terminology.”
Events & AwardsJun 04, 2025
As JCK Talks Returns, Don’t Miss These 12 SessionsFrom design trends to sustainability, here’s a roundup of can’t-miss education sessions at JCK Las Vegas.
CrimeJun 04, 2025
10 Safety Tips for the Las Vegas Shows The Jewelers’ Security Alliance offers advice for those attending the annual trade shows.
MajorsJun 04, 2025
Amy Curran Promoted at Hill & Co.Her new role is director of strategic initiatives.
CollectionsJun 03, 2025
In Her Latest Collection, Viviana Langhoff Is Leaning Into GoldThe designer is embracing bold pieces with weight to them in “AU79,” a collection she celebrated with a creative launch party.
FinancialsJun 03, 2025
Signet Jewelers Sees Turnaround in Q1 With Sales Ticking Up 2%On an earnings call, CEO J.K. Symancyk discussed what’s working for the company and how it’s preparing for the potential impact of tariffs.
SurveysJun 03, 2025
Consumer Confidence Improves in May The index partially rebounded after months of decline, due in part to the U.S.-China deal to temporarily reduce import tariffs.
CollectionsJun 03, 2025
Dakota Johnson Is Roberto Coin’s New Brand AmbassadorThe actress stars in the latest campaign set in Venice, Italy, and is set to participate in other creative initiatives for the jeweler.
