The world is awash is capital and this is having an effect on the watch collecting landscape.
Auction houses are increasingly offering modern watches (think contemporary Nautilus and Royal Oak not to mention the independent brands like Journe, Dufour) as collectors interest in that area increases. This trend has allowed some auction houses to emerge as a force to be reckoned with in the vintage area – an area I remain most interested in as a collector and historian.
A good case in point of what I talking about is the recent auction offering of Monaco Legend Group (MLG). Davide Parmegiani is one of the two main partners behind this auction house and it thus is no surprise that they have been offering some exceptional vintage watches for a while now. Specifically fantastic vintage Rolex. Davide has played a central part in the world of vintage watches over the past 40 years and has been in the right place at the right time. As a dealer to the best and biggest collectors in the world (many of them in Italy) he knows where all (or at least many) of the great watches are sitting.
Therefore, in an increasingly difficult market in terms of finding good quality watches, Davide proves he still can deliver. Look no further than his latest auction taking place this weekend. I pick four watches all of which are rare, attractive in terms of aesthetics and in some cases have not been seen by the market in a few years.
Lot 268: A 1951 Rolex 6105 ‘baby Bao Dai’.
This is perhaps the secret star (in my view) out of the entire catalogue in terms of Rolex offerings.
The watch here is a very early date-just ref 6105 from the early 1950s. On the face of it not the most expensive or the most striking Rolex in the catalog of MLG. However, with Rolex, the devil is all in the detail. And once you study the details; you realise this is a star lot in the catalogue of MLG. Allow me to explain why:
The 6105 is one of the first Rolex date-just models, and like many Ovettone, carries an automatic movement (A296). The Ref 6105 came in a multitude of dials, mostly silvered/white dials. Only very few were delivered with a black gilt type dial you see here. What makes this even more special are the 6 diamonds on the dial. Diamond dials make this watch extremely rare. I have seen in my collecting career various type of dials on this watch: I have seen it with or without the date-just signature below Oyster Perpetual. Additionally this type of dial with diamonds exists in silvered/white found in both ref 6105 and also 6305.
This watch is absolutely correct and is also found in the correct serial number range in my database. Most common for diamonds dials are serial 837xxx which this watch belongs to. Of all identified watches date-just with diamond dials (both silver and black) in recent years, all can be found in serial Nr 747 xxx to 837 ‘4 xx.
This watch is interesting (and collectable) due the black gilt dial contrasting extremely well with the 6 baguette type diamonds on the dial. It reminds me of only one other Rolex watch that looks remotely similar like this one: The Bao Dai ref 6062. It is the reason I have nicknamed this watch the ‘baby Bao Dai’. Much like the Ferrari 275 GTB/4 is considered the poor mans Ferrari 250 GTO, in the Rolex world this watch is the poor man’s ‘Bao Dai’. Yes, it doesn’t have a moon-phase – nor triple calendar, but it packs an equally strong punch. These black gilt dial Rolex date-just or so rare that I cannot remember the last time I saw one at auction. It must have been at least 5 years ago, maybe longer.
The last two reasons that make this particular watch special is the matching gold Rolex jubilee bracelet (dated just a bit later at 3/53) and also the engraving on the back. It was given to a man by a lady in 1954. A last note of interest: There seem to be numbers engraved on the back of one of the lugs, which some retailers did in the 1950s (like Beyer for example or Cartier).
In my view this watch, with this dial belongs in any serious top Rolex collection. It is as simple as that.
Estimate of the Ref 6105 is €50’000 – 100’000.
(Picture Credit: Andrea Parmegiani – A rare Rolex 6105 with black gilt dial and 6 diamonds in natural sunlight).
Lot 272: A 1952 Rolex 6098 stelline
Once again this is no surprise: I personally love this watch and am lucky to own such a model in my personal collection.
The greatest attribute of this particular model lies in its simplicity. A time-only watch with stars on the dial. As many of you know, stars play a very important role in Rolex own history. Additionally, they are found on Rolex most complicated and desirable model ever, the stelline 6062. I think collectors still today underestimate the rarity and importance of this model, known sometimes as the Galaxy or 6098 stelline. Less than 15-16 are known to me that have been seen publicly, and all are in a similar serial range of 727 xxx to 912xxx. The signed jubilee bracelet is an additional plus in my view, as they are becoming increasingly hard to find.
This watch being sold carrying serial Nr 912 xxx is known to me and was already included in my report on star dials I did back in 2018. It initially sold at Christies in 2012.
This stelline at MLG is among the most common serial range numbers 912’xxx, so we know it is all correct. The dial and signature are all displayed correctly with the right graphics. I have not seen this watch in person and advise collectors to study the dial closely to value its condition. However, on pictures it looks just fine. The estimate of €80’000 – 160’000 is probably market correct and I believe these watches should be and will be priced higher one day. It is only a matter of time.
I say this with conviction, not because I own one but rather because I understand their importance in Rolex history and know the rarity.
(Picture Credit: Monaco Legend Group AP).
I normally would not even look at a simple 6105. Too vast is the Rolex universe full of special watches that I probably would overlook a 6105 with normal dial.
A closer look at this watch though, and you soon realise that this particular example is a time capsule. You are drawn to its condition, its perfect case (with all engravings on the back still legible). While the dial is relatively common (so called dagger dial) the red date-just writing, makes it far more rare and attractive in my view. It fits perfectly to the red date roulette wheel of the watch. Given its outstanding condition it is no surprise that it carries almost the same estimate as the far more superior and rare 6105 black dial above with diamond markers.
In a world where it increasingly difficult to come across watches in such condition- Davide delivered collectors a real treat here.
Estimate of this time capsule is €40’000 – 80’000.
Lot 285 a 1964 Rolex Ref 6238 with black lacquer dial
Followers of my blog know I love this particular model. A pre-daytona that is relatively modern in looks compared to older 6234.
I have written about the black dial version of the 6238 in gold many times (the previous black lacquer model here). It can be considered among the rarest Rolex chronographs ever made. What makes this particular version rare is the early date, 1964. It is the earliest black glossy dial watch I know of (all the other examples are later from 1967 circa). Now not all black dials are glossy. Some are more matte in nature like this model here. But they tend to be later production so towards the end of 1960s (1968).
If you want to know more detail on the black dial 6238 Rolex – see a report which I wrote about here.
The Rolex 6238 with black dial was made both in 14k case (mainly for the American market) and also 18k (such as this watch). Displayed prominently in the Goldberger 100 Rolex book, this watch is even more special as it formerly belonged to the author of the book, Mr. Goldberger himself. In terms of condition of the watch, I have not seen it personally so will refrain from any comments.
A black glossy dial in Ref 6238 remains almost a mythical watch, it belongs to the very top of Rolex chronograph collecting and Rolex collecting in general. There are less than a handful known in the world (I only know of 2 examples) with glossy dials.
The last time a 6238 Rolex black dial came on to the market was in 2019; but over the past 6-7 years only 2 watches with this dial have been seen publicly at auction besides this one (one watch was sold twice in that period). And in terms of black glossy dial: In my entire collecting career I have only ever seen one other black glossy dial 6238. They are extremely rare. I have no doubt some heavy Rolex collectors will battle it out (especially if the low reserve is set lower than the estimated price indicated in the catalogue).
Estimated at €500’000 -1m.
