Watch market news

Watch Market: Rolex Cosmo Sets Auction Record in Hong Kong

A unique Rolex chronograph has set an auction record in Hong Kong, at a Sotheby’s Sale recently. The price of $3.3m was realised for a one-off Cosmograph Daytona, with Lapis Lazuli hardstone dial, manufactured in 1999.

This watch is the only known Rolex made from platinum, which dioes make it truly unique. It highlights how demand for customised Rolex, Patek or AP watches is rising, so maybe an investment in a unique Bamford Rolex or TAG might be a good long-term watch investment?

Here’s the word from Sotheby’s;

In our first live watches auction this year we are pleased to see a highly resilient watch market in Asia. Not only do we witness a heated bidding battle for the Rolex Lapis Lazuli Dial Daytona, far surpassing its pre-sale estimate and smashing the auction record, a series of contemporary watches and pieces from independent watchmakers have also achieved exceptional prices.

These excellent results proved that the demand for top quality timepieces remains strong even during these unprecedented times. The sale has brought Sotheby’s Watches global sales total in 2020 to US$40 million, and we look forward to this season’s final auction in London tomorrow, which is highlighted by a magnificent Breguet pocket watch with royal provenance.

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