Auctions

‘Bao Dai’ Rolex Sells for $5 Million, Sets Record

AuctionsMay 15, 2017

‘Bao Dai’ Rolex Sells for $5 Million, Sets Record

The rare watch that once belonged to the last emperor of Vietnam is now the most expensive Rolex ever sold at auction.

20170403_Rolex-Bao-Dai.jpg
The last emperor of Vietnam, Nguyen Phuc Vinh Thuy, bought this Rolex watch in 1954 for an unknown amount. It sold for $5 million over the weekend at a watch auction in Geneva.

Geneva--Bow down to the “Bao Dai.”

The one-of-a-kind black-dialed Rolex with diamond markers at the even hours sold for $5 million Saturday at the Phillips auction held in Geneva.

That was more than three times the watch’s pre-sale estimate of $1.5 million and more than enough for the Bao Dai to leap-frog the reference 4113 “Split-Seconds” to reclaim its title as the most expensive Rolex ever sold at auction.

The 35 mm reference 6062 Bao Dai Rolex debuted at the Baselworld fair in 1950, where it was one-of-a-kind on many levels: 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.

The watch was purchased in 1954 for an unknown amount by Nguyen Phuc Vinh Thuy, the last emperor of Vietnam. Thuy was granted the title of Bao Dai, or Keeper of Greatness, when he ascended to the throne in 1925 at the age of 12.

After the Bao Dai’s death, his family consigned the watch to Phillips and it sold for $235,000 in 2002, then making it the most expensive Rolex ever sold at auction.  

The private collector who purchased the watch in 2002 is the one who brought it back to the auction house to be sold again.

Phillips was unavailable for immediate comment on the watch’s sale on Monday.

While the Bao Dai is now the most expensive Rolex ever sold at auction, its $5 million price tag still falls well short of the world auction record for a timepiece.

That title belongs to the Henry Graves Supercomplication, a Patek Philippe-made pocket watch that is referred to the as “Holy Grail” of watches and is said to be the most complicated watch ever made by hand. It garnered $24 million at Sotheby’s Geneva in 2014.

(The world auction record for a wristwatch belongs to the Patek Philippe Ref. 1518 in stainless steel that went for $11 million in November. Phillips also sold that watch in Geneva.)

The Bao Dai Rolex was one of the watches offered in Phillips’s Geneva watch auction, which took place Saturday and Sunday and was held in association with Bacs & Russo.

Michelle Graffis the editor-in-chief at National Jeweler, directing the publication’s coverage both online and in print.

The Latest

Aurelia Demark London blue topaz bow earrings
TrendsNov 07, 2024
Amanda’s Style File: Golden and Blue November Hues

The month’s birthstones, citrine and blue topaz, reflect the changing colors of the season.

Jewelry designer Sidney Garber and ceramicist Carey Lowell
CollectionsNov 07, 2024
Sidney Garber Collaborates With Carey Lowell on Capsule Collection

The “Carey Lowell x Sidney Garber” collection stems from the friendship between the jewelry designer and ceramicist.

Ritani holiday ad campaign still image
MajorsNov 07, 2024
Ritani Debuts ‘No-Fuss’ Holiday TV Campaign

The two ads highlight diamond engagement rings and diamond studs with a straightforward approach.

Jewelers Mutual Group Cybersecurity
Brought to you by
Navigating Cybersecurity: Essential Guidance for Jewelers

From protecting customer data to safeguarding inventory records, it's crucial to learn how to tackle cybersecurity challenges.

American India Foundation
Policies & IssuesNov 07, 2024
Diamonds Do Good To Distribute $250K+ In Grants Next Year

In 2025, the nonprofit plans to continue its support of longstanding partners while also allocating some funds to a new initiative.

Weekly QuizNov 07, 2024
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
Pandora cuban link bracelet
FinancialsNov 06, 2024
Pandora Posts Double-Digit Revenue Growth in Q3

The Danish jewelry company plans to open up to 150 concept stores this fiscal year.

Gemological Institute of America logo
GradingNov 06, 2024
GIA to Close Lab in Ramat Gan, Israel

The location will close by the end of the year due to it being financially unsustainable, GIA said.

Article-Top-Image.jpg
Brought to you by
Enhance Your Expertise with IGI’s In-Person Courses in NYC

This fall, sharpen your skills in jewelry grading, quality control and diamond assessment.

Iris Law and Hero Fiennes in Moments of Joy campaign
MajorsNov 06, 2024
David Yurman’s Holiday Campaign Celebrates ‘Moments of Joy’

The new campaign stars Sterling K. Brown, Hero Fiennes Tiffin, Winnie Harlow, Kyle Kuzma, Arizona Muse, and Iris Law.

Jacquie Aiche Lizzie Bracelet
CollectionsNov 05, 2024
Jacquie Aiche is Hosting an Online Treasure Hunt

One lucky winner will receive a “Lizzie” diamond bracelet.

Samantha Larson
IndependentsNov 05, 2024
Long's Jewelers Names New Director of Buying

Samantha Larson has joined the Boston-based retailer.

Emerging Jewelers Accelerator Program logo
Events & AwardsNov 05, 2024
JA, BIJC Now Accepting EJAP Applications for 2025

The Emerging Jewelers Accelerator Program will guide retail jewelry entrepreneurs through an eight-month educational curriculum.

Tiffany & Co. x CFDA Jewelry Designer Award
Events & AwardsNov 05, 2024
Tiffany & Co., CDFA Announce Design Award Finalists

Ten chosen designers will receive mentorship and participate in a design contest for the Tiffany & Co. x CFDA Jewelry Designer Award.

Dana J. Lorberg
MajorsNov 04, 2024
Jewelers Mutual Appoints Mastercard Exec to Its Board

Dana J. Lorberg brings 35 years of experience in finance, technology, and strategy to the role.

FBI robbery surveillance photo
CrimeNov 04, 2024
FBI Offering $15K Reward for Info on Halloween Mask-Wearing Robbers

The suspects are said to have been involved in the armed robberies of four jewelry stores across three Midwest states.

Models wearing Black Sand Pebble ring and Surf bracelet
CollectionsNov 04, 2024
John Hardy’s New Jewels Turn the Black Sands of Bali into Diamonds

The new designs blend Creative Director Reed Krakoff’s aesthetic with the brand’s Balinese roots.

Jaeger-LeCoultre Reverso Tribute watch
IndependentsNov 04, 2024
Eiseman Jewels is Celebrating Watches All Month-Long

The Dallas-based jeweler will showcase timepieces from Cartier, IWC Schaffhausen, Jaeger-LeCoultre, Parmigiani Fleurier, and more.

Artist Reena Ahluwalia “Pristine” painting
SourcingNov 01, 2024
Reena Ahluwalia Donates Diamond Painting to Benefit CJA

The artwork, titled “Pristine,” was raffled off at the Canadian Jewellers Association’s recent summit.

Gunderson’s Jewelers in Omaha, Nebraska
IndependentsNov 01, 2024
Gunderson’s Jewelers Opens New Location in Nebraska

The new store features a custom design studio and a bridal salon.

Sydney Evan x Wicked “Spell Book” coin charm
CollectionsNov 01, 2024
Piece of the Week: Sydney Evan Gets ‘Wicked’

Designer Rosanne Karmes has created a collection to coincide with the release of the movie musical, which is expected to be a blockbuster.

Charles & Colvard moissanite ring
FinancialsOct 31, 2024
Charles & Colvard Faces Possible Nasdaq Delisting

The retailer said it will file the necessary paperwork to regain compliance as soon as it is able.

National Jeweler columnist Peter Smith
ColumnistsOct 31, 2024
Peter Smith: Nervous Flyers and Emotional Selling

Whether you’re calming the jittery gentleman in seat 13B or selling a diamond ring to a hesitant customer, an empathetic approach is best.

Annie E. Doresca, Grant Mobley, Alexis Padis, Terry Chandler
Events & AwardsOct 31, 2024
WJA Will Celebrate 4 Award Winners at ‘Future of Forty’ Gala

The gala includes a red carpet, music from DJ Renata, an awards program, and “mystery boxes.”

Instore show 2025
Events & AwardsOct 31, 2024
The Instore Show Returns To Chicago Area

The trade show, in its third year, will take place in late September at the Donald E. Stephens Convention Center in Rosemont, Illinois.

Constance Polamalu
Lab-GrownOct 31, 2024
Q&A: Constance Polamalu on Selling Natural and Lab-Grown Diamonds

The jeweler shared her change of heart on lab-grown diamonds and why she keeps them separate from natural diamonds in her business ventures.

Gem Awards New York City
Events & AwardsOct 30, 2024
These Designers, Journalists, and Retailers Are Up for a Gem Award

The 2025 Gem Awards are scheduled to take place March 14 at Cipriani 42nd Street in New York City.

Peggy Grosz
MajorsOct 30, 2024
Peggy Grosz Leaves Assael After Company Is Sold

Grosz had served as Assael’s senior vice president and creative director since 2017.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy