Saturday, November 29, 2008

Highly Collectable Rolex Watches Defying Economic Crisis...

Highly Collectable Rolex Watch Value Enduring

John Goldberger who wrote the amazing 100 Superlative Rolex Watches is one of the top vintage Rolex collectors on planet earth. If you missed it, I recorded a detailed podcast along with a superb preview of his book which you can see by clicking here.

I talk with John on a pretty regular basis and we were discussing how Rolex would perform at the recent Antiquorum action and then at the even more recent Christie's Important Watches auction in Geneva on November 17, 2008.

John said "Christie's and Antiquorum had good results and a high percentage of items sold. Regarding the Christie's auction, the high quality Rolex watches achieved huge auction results–especially the classic models like the Prince, Bubbleback, Moonphase 8171, Chrono 3525–the kind or watches illustrated in my book."

"I think the era of high prices for Comex, Cosmographs with brown dials, low quality Sports models, and other overpaid amenities is over. In times of crisis the classic models with rare dials, in great condition will be the only good investment. Remember, quality always pays."

You can watch a video news story of the Christie's auction in French that features an interview with John Goldberger by clicking here.

One of the star performers at the Christie's Auction was this magnificent and very rare, Pink-Gold Rolex Triple-Date Moonphase [Reference 8171] which was made in 1949. Christie's points out in their auction catalog "Rolex has produced only two different models of moonphase wristwatches, reference 8171 and 6062. Both models are automatic, however reference 8171 has a snap on back, while reference 6062, the Oyster version, is fitted with a water-resistant type screw back."

"Reference 8171 was made in a small series between 1949 and 1952, mostly in yellow gold. Examples in pink gold or stainless steel are very rare."

This magnificent Rolex Moonphase [Reference 8171] significantly exceeded the estimated sales price at the Christie's auction [LOT 16/Sale 1357] on November 17, 2008 in Geneva of between $140k - $220K to sell for $250K. You can learn more about this beautiful watch by visiting the  Christie's auction page for this watch by clicking here.