Rare Rolex watch auctioned for $3.5 million, sets new record
What's the story
A unique Rolex watch, considered one of the rarest in the world, has been sold for a staggering $3.5 million (approximately ₹29 crore) at auction, setting a new record. This particular timepiece is an oversized split-second chronograph made in 1942 (ref. 4113). Originally designed for pilots, this model was only produced once by Rolex, making it highly sought after among collectors and enthusiasts alike.
Auction details
The watch was sold at Monaco Legend Auctions
The recently auctioned Rolex was previously owned by Auro Montanari, also known as John Goldberger, a respected Italian watch collector with high standing in the horology world. The timepiece was sold at Monaco Legend Auctions. The initial estimate for the watch ranged between €2.8 million and €5.6 million before it finally fetched €3,284,000 - approximately $3.5 million based on current exchange rates. Montanari's split-seconds now ranks as the fifth most expensive Rolex ever sold at auction.
Watch details
The 1942 Rolex model is a rare piece
The 1942 Rolex model deviates from the brand's typical sports watches made of stainless steel, featuring instead a sophisticated design with a leather strap and split-seconds function. The rarity of this model significantly contributed to its high auction price. Only 12 units were ever manufactured by Rolex, with just nine believed to still exist today. Furthermore, only two of these watches have ever been put up for auction, including the one recently sold.
Rarest Rolexes
From aviation pilots to Italian racing teams
Originally intended for aviation pilots, these watches found their place in the Italian automotive world, as confirmed by the auction house. They were never commercially available but exclusively gifted to specific racing teams' members. As a result, these dozen timepieces are among the rarest and most valuable Rolexes. Just nine split-seconds are known to exist, with few in great condition.
Split-seconds
A masterpiece of precision with a 44mm steel case
The split-seconds boasts an expansive 44 mm steel case, among the largest in the Crown's collection, with the Deepsea Challenger's 50 mm case being the largest. More significantly, it houses a caliber 55 VBR chronograph movement featuring a split-seconds complication, allowing for the measurement of multiple time intervals. Additionally, it includes a telemeter scale for estimating distance from audible or visible objects.