CrimeDec 24, 2025
LA Jewelry District Couple Pleads Guilty to Hiding Millions from IRSThe couple pleaded guilty to concealing at least $127 million in cash transactions at its precious metals businesses.
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
SurveysDec 24, 2025
Consumer Confidence Falls Again in DecemberConsumers shared concerns about prices, inflation, tariffs, trade, and politics in the survey’s write-in response section.
Events & AwardsDec 24, 2025
NYC Jewelry, Antique, & Object Show Announces Winter EventThe new show will take place Jan. 23-25, 2026.
Brought to you by
Impacting Tomorrow TodayHow Jewelers of America’s 20 Under 40 are leading to ensure a brighter future for the jewelry industry.
SourcingDec 23, 2025
Mining Titan Brian Gilbertson Dies at 82The former BHP Billiton leader and Gemfields chairman is remembered for his influential leadership throughout his 50-year mining career.
Weekly QuizDec 23, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsDec 23, 2025
Bulgari Reimagines Costume Designers Guild AwardThe LVMH-owned brand has partnered with the costume design union to revamp its award for 2026.
MajorsDec 23, 2025
Kering to Acquire Stake in Raselli Franco GroupThe luxury titan inked a deal to acquire an initial minority stake in the jewelry manufacturer with a pathway to full ownership by 2032.
Brought to you by
Roseco Releases New Full-Line CatalogRoseco’s 704-page catalog showcases new lab-grown diamonds, findings, tools & more—available in print or interactive digital editions.
MajorsDec 23, 2025
For Future Reference Vintage Enters Bloomingdale’sThe company’s curation of unsigned vintage and estate jewelry debuted at the Bloomingdale’s in Costa Mesa, California.
CrimeDec 22, 2025
Customs Seizes Hundreds of Fake Rolex, Cartier WatchesIn the recent multi-shipment seizure, CBP also found counterfeit Audemars Piguet, Moncler, and Chrome Hearts items.
EditorsDec 22, 2025
How Helzberg Is Reimagining Its StoresHelzberg’s Chief Retail Officer Mitch Maggart shared details about its tests of a new store concept rooted in an elevated luxury experience.
Recorded WebinarsDec 22, 2025
2025 Jewelry Rewind: Looking Back on an Eventful Year Jewelers of America execs and National Jeweler editors discuss tariffs, the sky-high gold price, and the engagement that broke the internet.
MajorsDec 19, 2025
MadaLuxe Group Acquires Ippolita The luxury goods company said founder Ippolita Rostagno will remain at the brand’s helm.
MajorsDec 19, 2025
LVMH Names New Bulgari CEOLaura Burdese, who joined the Italian luxury brand in 2022, will take on the role in July.
EditorsDec 19, 2025
2025 Jewelry Superlatives: A Yearbook-Style Year in Review The National Jeweler editors revisit the most noteworthy industry happenings and design trends from 2025.
AuctionsDec 18, 2025
Audemars Piguet Reclaims Historic Pocket Watch at AuctionIt purchased the “Grosse Pièce,” an ultra-complicated Audemars Piguet pocket watch from the ‘20s, for a record-breaking price at Sotheby’s.
Lab-GrownDec 18, 2025
Kira Jewels Debuts Custom Lab-Grown Diamond Jewelry ServiceThe lab-grown diamond grower now offers custom engagement and fashion jewelry through its Kira Custom Lab Jewelry service.
EditorsDec 18, 2025
Terry Chandler Looks Back on 40 Years of Opportunity, Change, and FriendsChandler got his start at Michelson Jewelers and has served as DCA president and CEO since 2001. He will retire at the end of the month.
WatchesDec 18, 2025
Bob’s Watches to Open Store in New York’s JFK AirportThe boutique is slated to open this week inside Terminal 8, offering pre-owned Rolex watches and more to international travelers.
Supplier BulletinDec 18, 2025
Cell Jammers Are Targeting Your Business. Here's How to Beat ThemSponsored by Digital Monitoring Products
CrimeDec 17, 2025
Man Pleads Not Guilty to Swallowing Fabergé PendantThe special-edition egg pendant ingested in a New Zealand jewelry store was recovered after a six-day wait.
EditorsDec 17, 2025
2025 Jewelry Rewind: The Best Piece of the Week PicksAssociate Editor Natalie Francisco plays favorites with Piece of the Week, selecting a standout piece of jewelry from each month of 2025.
CollectionsDec 17, 2025
Lucy Hale Stars in Jacquie Aiche’s Holiday CampaignThe “Love and Desire” campaign is inspired by the magic that follows when one’s heart leads the way, said the brand.
GradingDec 17, 2025
SSEF Announces 2025 Scholarship WinnersTwo awardees will receive free tuition for an educational course at the Swiss lab, with flights and lodging included.
MajorsDec 16, 2025
Pandora’s New CEO Will Step Up EarlyBerta de Pablos-Barbier will replace Alexander Lacik at the start of January, two months earlier than expected.
AuctionsDec 16, 2025
Suzanne Belperron, JAR Shine in Sotheby’s First Auctions at New HQSotheby’s held its first two jewelry sales at the Breuer building last week, and they totaled nearly $44 million.
Events & AwardsDec 16, 2025
TJS Now Accepting Scholarship Applications for 2026Winners will receive free registration and lodging for its fourth annual event in Detroit.
