Auction Houses Are Struggling to Price Vintage Rolexes

Muriel Sivazlian. (Photo courtesy of Artcurial)

Artcurial's sale of the Rolex COMEX Sea-Dweller reference 16600 issued to pioneering French commercial diver Muriel Sivazlian is the latest sign of an increasing gap between auction estimates and the market for vintage Rolexes. The watch sold last week in Monaco for €244,940, more than double the high end of its pre-sale estimate of €80,000 to €120,000. Coronet wrote about Ms. Sivazlian's watch in early July.

It's not exactly news that vintage Rolexes trade in a market of their own, detached from modern prices. While Rolex has continued to raise retail prices, in some cases twice a year, secondary-market values have cooled from their post-pandemic fever and preowned supply has increased. Today, half of Rolex's modern collection trades below retail, according to a Morgan Stanley and WatchCharts report just published today.

Rolex value retention by collection. (Data: Morgan Stanley/WatchCharts)

The more interesting story may be that, for vintage Rolexes like Ms. Sivazlian's, auction estimates are becoming almost irrelevant, serving little more than as opening bids. To be sure, estimates are often conservative to encourage bidding and create momentum, not to forecast the final price.

But when vintage Rolex pieces blow past their estimates by that much, it becomes harder to dismiss the result as auction strategy. Either auction houses are struggling to value vintage pieces and the market's appetite for provenance — or bidding wars for rare vintage Rolexes have reached a new level, becoming more intense than at any point in recent memory.

Rolex Deutschland Puts Its Downtown Headquarters Up for Sale

Rolex Germany headquarters in Cologne, in an undated photo. “ROLEX” lettering has been removed. (Photo credit: Raimond Spekking)

Rolex's presence in Cologne's city center is coming to an end. After more than 40 years in the same headquarters, the brand is selling the landmark property for about €30 million following its move to new premises in the Deutz district, a business district across the Rhine River.

As previously reported by Coronet, Rolex Deutschland GmbH, the wholly owned subsidiary responsible for distributing Rolex products across Germany, had planned to demolish and rebuild its headquarters in Cologne. The downtown property, located between a 17th-century church and the main train station, required approval from the city's design advisory board, which repeatedly demanded revisions, including reducing the building's size to better fit its historic surroundings.

That Rolex Deutschland was unable to compromise on a smaller development and chose to give up its longtime downtown headquarters in Cologne, one of Germany's oldest cities, is the latest sign of the brand's growth in recent years, not just financially but also physically. Rolex has been based in the city since 1956 and in that building since 1983.

JLL, a global real estate services firm, has been appointed to market the property, which is expected to be redeveloped into a mix of hotel and office space.

A Rare Rolex Sighting on Matt Damon at ‘The Odyssey’ Première

A good place to dwell. (Photo credit: Dateline via X)

If Odysseus wore a Rolex, the obvious choice might seem to be the Yacht-Master. After all, much of The Odyssey takes place at sea. Yet the Greek hero spends years wandering on land as well. Odysseus actor Matt Damon arrived at Wednesday's New York première of The Odyssey wearing a Land-Dweller.

When Rolex introduced the Land-Dweller last year, the brand said the watch honored those "who live in the real world." It seems like the model also became a favorite of those who live in the spotlight, including Leonardo DiCaprio, Tom Cruise and Mark Wahlberg, to name a few. Watch writer Nick Gould was first to identify the model worn by Damon.

Coronet rarely chronicles the watch choices of celebrities unless there’s a newsworthy angle. Damon has seldom been seen wearing a watch, let alone a Rolex. The Academy Award-winning actor wore the same model to the Paris première on July 8, this time paired with a burgundy suit.

The last Rolex seen on Damon’s wrist was his own vintage Explorer ref. 1016. For a man playing Odysseus, that may actually have been a better choice for the press tour.

Inside Its Factories, Rolex Rethinks Dial Packaging

(Photo credit: Rolex)

After launching its eco-friendly presentation boxes last year, Rolex is launching a new green packaging initiative, this time inside its manufactures. Rolex's latest plan is not customer-facing but focuses on the polypropylene packaging used to transport watch dials between Rolex's production sites, a process invisible to customers. Rolex said it used about 20.2 tonnes of polypropylene, a fossil-based plastic, each year.

At a time when much of the luxury industry promotes its green efforts, Rolex is spending money in production changes customers will never learn about. Coronet has previously reported on the company's painstaking efforts to recycle gold scrap, reducing both mining and cost. Rolex is also investing in new manufacturing equipment that consumes less electricity and is currently testing alternatives to fossil-based materials. At its new manufacture in Bulle, scheduled to open in 2029, 98% of heating will come from renewable energy recovered through industrial heat-recovery systems.

At a more micro level, Rolex is targeting dial packaging. The brand plans to reuse some containers up to four times where production flows allow, it says, replacing the current single-use system for transporting dials between sites. Over a full year, Rolex estimates the initiative will cut annual packaging consumption to about one-third of current levels. The brand is also studying the use of recycled polypropylene, sourced inside Rolex or from suppliers, for future dial packaging.

Even BILD Is Explaining How to Buy a Rolex

(Photo credit: BILD and Rolex)

In the latest sign that navigating Rolex allocations has become mainstream consumer knowledge, German newspaper BILD, Europe's largest by circulation and one of the continent's most influential voices, recently published a feature explaining how readers can improve their chances of buying a Rolex from an authorized dealer.

In an unusual article for a mass-market newspaper, the roughly 1,500-word guide, published Wednesday, explains which Rolex models are attainable, how to approach an authorized dealer, what to say to a salesperson, the reality of waiting lists and whether buying jewelry might improve one's chances. The advice comes from BILD watch expert Andreas Filbig.

The fact that the article appeared in BILD is newsworthy in itself, a sign that Rolex has become, more than ever, a consumer story rather than just a watch story.

That a mass-market newspaper with a daily circulation of about 919,000 and roughly 640 million monthly visits online choose to publish a guide to navigating Rolex allocations shows the issue has certainly moved beyond watch collectors. The tips once shared on Rolex Forums and Reddit are now newsworthy for a mainstream audience in the European Union's most populous country.

“Here's how you can get a real Rolex faster.” (Screenshot: BILD.de)

The New Yacht-Master II Gets Its First Celebrity Sighting

Micah Richards. (Credit: BBC Football via YouTube)

The new Rolex Yacht-Master II has made its television debut, appearing recently on the wrist of former England defender and television pundit Micah Richards during the BBC's post-match analysis of England's 0-0 World Cup draw with Ghana. The sighting was first reported by watch writer Nick Gould on Thursday.

It is the first celebrity sighting of the updated model since its introduction in April. The new version features a redesigned case and a completely reengineered countdown movement, which Rolex has described as the most complex calibre in its collection today. Coronet first reported on the patent in 2023.

The Yacht-Master II was a good pick on camera, with its prominent white dial and blue bezel echoing the England team's colors. Mr. Richards, a former Premier League player, made 13 appearances for the England national team before beginning a career in football broadcasting. Beyond television, it will be interesting to see whether the redesigned model can command a premium on the secondary market despite its large size and high retail price.

In a First, Rolex Adds a Russian Trademark in Switzerland

(From: Swiss Federal Institute of Intellectual Property)

For the first time, Rolex has registered the Cyrillic spelling of its name, РОЛЕКС, as a trademark in Switzerland, 30 years after obtaining protection for the mark in Russia, where it has been registered since at least 1996.

Approved just last week, six days after it was filed, the application appears to have encountered no objections. It covers only Class 14, the trademark category for watches, jewelry and precious metals rather than retail or other services, suggesting the Swiss filing is unlikely to signal a return to Russia. Rolex has had no official exports or sales operations in Russia since suspending business there after the country's invasion of Ukraine in 2022, though its website continues to list more than a dozen Russian authorized retailers operated by Mercury.

Still, it is unclear what prompted Rolex to register the Russian-language version of its name in Switzerland now. The Swiss application was a new filing, unrelated to Rolex's Russian registration. In Russia, the Cyrillic Rolex trademark remains valid until November 2026, according to the Federal Service for Intellectual Property. The brand in Russia has generally presented itself using its familiar Latin-script name, ROLEX.

At the Top of Rolex, a Rare Board Vacancy

Rolex building in Chêne-Bourg. (Photo credit: Rolex)

One of the most powerful and exclusive clubs in horology has just gotten smaller. Philippe Pascal is stepping down from Rolex's board of directors, the eight-member body which oversees the long-term strategy of the biggest luxury watch brand in the world, including the appointment of its CEO.

Information about Rolex’s conseil d’administration, especially the reason for one of its member’s departure, is hard to come by. At 69, Mr. Pascal is a prominent figure in the luxury industry, having spent 20 years at LVMH, including as CEO of Moët Hennessy and its Watches & Jewelry Division. An avid wine enthusiast, Mr. Pascal and his wife, Catherine, own Domaine du Cellier aux Moines in Burgundy, a 10-hectare vineyard estate. He has served on Rolex’s board since 2021.

Mr. Pascal could be retiring altogether, or simply paring down his responsibilities. He remains on Bucherer's board of directors, an appointment made just one year after Rolex acquired the Lucerne-based retailer, a sign the brand continues to value his expertise.

More importantly, Rolex's board now has a vacancy. Its most recent appointment came only last year, when Rolex named Alexa Aponte, CFO of Geneva-based MSC, the world's largest container shipping group. Ms. Aponte's brother is said to have played a key role in arranging the White House meeting between Swiss executives, including Jean-Frédéric Dufour, and President Donald J. Trump.

Rolex Opens Its Largest Boutique in Vietnam

New Rolex boutique in Ho Chi Minh City. (Photo: Rolex)

Vietnam is getting its largest Rolex boutique with the opening of a 182-square-meter store inside the Rex Hotel in Ho Chi Minh City. It is only Rolex's third location in a country with a population larger than France or Germany. As with its other boutiques, Rolex has incorporated touches reflecting the host country, including a handcrafted relief inspired by the lotus flower, a symbol of beauty, resilience and the spirit of the Vietnamese people.

Operated with DAFC, the new location gives Rolex two boutiques in Ho Chi Minh City alongside one in Hanoi, the latest sign of the brand’s expansion in one of Southeast Asia's fastest-growing luxury markets. As Vietnam's economy has grown, so have foreign investment, its middle class and demand for luxury goods. The economy expanded about 8% in 2025, while the share of middle-class consumers is projected to double from 13% of the population in 2023 to 26% by 2026.

(Photo courtesy of Rolex)

Rolex Listed in Trump Financial Disclosure

(From OGE.gov)

Rolex appeared in President Donald J. Trump's mandatory financial disclosure report for 2025, but the company's mention had nothing to do with the Rolex clock spotted last November on the Resolute Desk. Instead, the nearly 1,000-page filing, released Tuesday by the U.S. Office of Government Ethics, listed Rolex as providing Mr. Trump with 10 tickets to the 2025 U.S. Open valued at $25,000, the first indication of the value of its invitation to last year's tournament.

Rolex CEO Jean-Frédéric Dufour's appearance alongside the president at the men's final generated headlines and prompted Senator Elizabeth Warren to question whether Rolex had sought to influence U.S. trade policy through the invitation, an allegation Mr. Dufour later rejected in a letter.

The disclosure also listed gifts from other organizations, including 10 FIFA World Cup tickets from FIFA president Gianni Infantino worth $15,000. It does not include the gold bar and desk clock presented by Swiss business representatives in the Oval Office because they will become part of the future Presidential Library.

The filing comes as Switzerland seeks a new trade arrangement with the Trump administration before the current tariff agreement expires on July 23. Swiss President Guy Parmelin traveled to Washington this week for the negotiations.

The Rolex of COMEX's First Woman Diver Is Up for Sale

Muriel Sivazlian. (Photo courtesy of Artcurial)

A Rolex COMEX Sea-Dweller reference 16600 issued to pioneering French commercial diver Muriel Sivazlian will be offered at auction by Artcurial during its Monaco sale on July 6-8 with an estimate of €80,000 to €120,000. While COMEX Sea-Dwellers already command some of the highest prices among vintage divers, collectors place a premium on examples with well-documented first-owner histories. Sivazlian's watch, engraved with the COMEX number 3497, remains in “well-preserved overall condition with minimal signs of wear,” Artcurial says. The watch retains its original caseback sticker.

Born in Marseille, Sivazlian restored her first sailboat at age 18 before becoming the first woman in France to qualify as a scaphandrière or commercial diver. Her career began after meeting COMEX founder Henri-Germain Delauze in 1976. Told that the company employed no women underwater, she offered to work aboard its oceanographic vessels instead, receiving her first assignment two weeks later. She later trained as a submersible pilot and participated in numerous expeditions, including the 1996 Titanic mission with filmmaker James Cameron, which helped produce footage for the film while contributing to the scientific documentation of the wreck.

Rolex supplied specially adapted diving watches to COMEX divers beginning in the 1970s, with each watch engraved to its assigned diver. Earlier this year, Artcurial sold another COMEX Rolex, issued to a former company secretary, for €160,000 despite lacking the underwater career associated with professional divers. Although Sea-Dweller models today are generally less sought after than comparable Submariners, Sivazlian's COMEX watch is likely to exceed its estimate, another sign that the market for exceptional vintage Rolex watches is largely detached from the new and pre-owned market.

Rolex Gave $100 Million to a Museum With Only One Watch

(Photo courtesy of National Geographic Society)

Rolex has donated $100 million toward a new museum that took four years to build and features almost no watches. In a press release Thursday, the brand simply said it was proud to be the Grand Opening Partner of the new National Geographic museum without mentioning the scale of its donation, which exceeds the entire budget of many watch brands today. Watch writer Jason Heaton reported in an article for Hodinkee that a plaque inside the museum had revealed its donors and their contributions, the only hint of Rolex's record-breaking donation amount. In the 100,000-square-foot museum in the heart of Washington, D.C., the only watch on display is the Deepsea Challenge from James Cameron's submersible, according to Mr. Heaton, who was able to preview the new museum before its opening on June 26.

Coronet reported in 2023 that Rolex had donated "by far the largest single gift in the National Geographic Society’s 135-year history" for the expansion of its headquarters in Washington, D.C. But neither the Society nor Rolex disclosed the amount until the museum’s Grand Opening last week.

Arnaud Boetsch, the global Director of Communication and Image at Rolex, simply said he is grateful to the National Geographic Society and for the shared dedication to advancing exploration as Rolex marks 70 years of partnership.

The size of the gift is the latest sign that Rolex today operates on a financial scale far beyond that of most watchmakers. A single philanthropic contribution of $100 million exceeds the annual marketing or operating budgets of most brands. It also shows the financial flexibility that comes from being privately owned and controlled by the Hans Wilsdorf Foundation. Rather than returning profits to shareholders, Rolex can deploy them toward long-term projects that strengthen its reputation and image.

Rolex Looks to Magnetism to Authenticate Its Watches

(Photo credit: Rolex)

Rolex has recently published a patent application for a simpler way to authenticate watches. The challenge in creating authentication markers is that visible markers affect a watch's design, hidden ones require disassembly, while engraved codes require optical equipment. Rolex now says it has created an invisible marker that can be detected without opening the watch or changing its appearance, according to a patent published on June 18 and discovered by watch writer Nick Gould.

Rather than adding engraved markings or electronic identification technologies, Rolex's latest invention uses an invisible magnetic marker inside a watch. The marqueur — as Rolex calls it in its patent — can take many forms, including an insert, coating, surface treatment or localized material modification. When exposed to a magnetic field, it produces a distinctive magnetic signature that can be detected externally, without opening the watch or affecting its appearance. As Rolex movements have become more resistant to magnetism, it’s an interesting twist that the brand now wants to use magnetism as an identification tool.

In its patent, Rolex says the technology can be used beyond detecting counterfeits. The marker could verify that a component has passed a particular manufacturing step, be checked during final assembly or later during servicing "pour s'assurer de la conformité de la pièce d'horlogerie." It also describes using markers to encode information such as a manufacturing line, providing a discreet way to improve traceability and quality control throughout the production process.

Europe's Heat Wave Forces Rolex to Slow Construction

Cooling the movement. (Photo credit: Jean-Baptiste Morel)

As Europe broiled under record-shattering temperatures, Rolex has decided to halt construction work early Friday afternoon at its new manufacturing campus in Bulle, Switzerland.

The company ordered the site to close from 1 p.m., despite having already introduced measures including mandatory hourly breaks, air-conditioned rest areas, sunscreen stations, water distribution and an earlier 6 a.m. start time to reduce workers' exposure to the heat.

The unusual temperatures are testing Europe's ability to adapt to extreme weather, including at major construction projects like the one in Bulle, where workers must wear standard protective gear, long clothing and neck coverings, with some working underground on a project involving enormous financial and scheduling challenges.

About 380 people, including contractors and supervisory staff, were working on the Bulle site on Thursday. Project managers said working conditions varied depending on location, with employees on exposed concrete slabs facing the most difficult conditions despite shaded areas and scheduled breaks.

The continent's stifling heat wave — the second in two months — has disrupted education, transportation and other aspects of daily life for millions of people, with officials warning that older people or those who work outdoors, like on construction sites, are most vulnerable to the effects of extreme heat.

Europe Has a Heat Wave. So Does Rolex, Thanks to Zendaya

Caught in Rolex’s web. (From daya.by.zendaya19 via Instagram)

Despite Europe’s punishing temperatures this week, Rolex is enjoying its moment in the sun, perhaps even more than it did at Roland-Garros, where nearly all of its tennis favorites were eliminated early. Marvel has spent the week promoting Spider-Man: Brand New Day across Europe with appearances by Zendaya, who plays Peter Parker's love interest, MJ.

At each stop, Zendaya was photographed wearing a different Rolex, including a discontinued stainless-steel Daytona, a Perpetual 1908 fitted with the new Settimo bracelet and a Lady-Datejust. Pics from the tour have obvs spread across Instagram, well beyond the watch media. The exposure across the fashion and entertainment media may have given Rolex more visibility than a trophy ceremony at a Grand Slam final. Watch writer Nick Gould first reported on Zendaya's wristwear.

Zendaya's appointment is still relatively new. She joined the Rolex family as the brand's first actress Testimonee last year. The move followed the appointment of Leonardo DiCaprio just seven months earlier, the brand's only actor until she was signed. It marked a departure for a company that had historically aligned itself with athletes, musicians, explorers and even directors, but not actors. Earlier this month, Rolex disclosed the appointment of a third actor to its roster, Priyanka Chopra Jonas.

After Building Its Name, Rolex Faces the Cost of Protecting It

(Photo credit: Rolex)

A Rolex trademark victory came earlier this month when European officials partially blocked a Spanish company's application for the name "Vorlex" covering automotive goods and services. The European Union Intellectual Property Office ruled that consumers could see the mark on vehicles, car parts or related products and assume a connection to Rolex. The decision followed a recent "Lolex" case, in which Rolex successfully challenged the use of the name on certain pillows and home-furnishing products.

The cases are the latest examples of a brand spending resources not only on making watches but also on protecting its name after it has become widely recognized. In both, officials agreed the similarity of the names could allow applicants to benefit from Rolex's reputation despite having no connection to the watchmaker.

No other watch brand pursues trademark disputes as aggressively as Rolex. Unlike brands built around surnames or common words, Rolex's name gives it a strong basis to argue that similar-sounding trademarks seek to benefit from its reputation. In the Vorlex case, European officials said it was "very likely" that the applicant was attempting to take advantage of Rolex's reputation. Rolex also argued that associating its name with automotive products could tarnish the luxury image it has spent more than 100 years building. The company claimed that seeing "Vorlex" stamped on a car might lead shoppers considering a Rolex watch to "give it a second thought," the decision says.

In an interesting twist, European officials did not strike down the trademark entirely. The Spanish company can continue using "Vorlex" for five services, including retail services relating to accumulators and safes, unmanned food retail stores and certain wholesale activities.

Rolex Brings Its Brand to Rockefeller Center

Time skates by. (Photo credit: Michael Young via Instagram)

Rolex and Rockefeller Center announced an exclusive partnership on Wednesday, unveiling a new Rolex clock above the Rockefeller Center Rink on 50th Street in Midtown Manhattan. "Today we are unveiling a new landmark for New Yorkers and visitors from around the world, the Rolex Clock above the Rink at Rockefeller Center," said E.B. Kelly, Senior Managing Director at Tishman Speyer and Head of Rockefeller Center.

The clock sits atop a new Art Deco-style visitor information center. Rolex's presence at one of New York's most recognizable landmarks is the latest sign of the brand's continued investment in its image, even as it generates record revenue. Rolex is also nearing completion of its new North American headquarters and renovated flagship store at 665 Fifth Avenue. "We are honored to partner with a brand of Rolex's stature, and we look forward to seeing the clock become a new symbol of New York," Kelly said.

To mark the event, Rockefeller Center replaced its usual flags with green Rolex flags around the plaza. Among those attending the unveiling were Arnaud Boetsch, Rolex Director of Communication and Image, and Luca Bernasconi, President and Chief Executive Officer of Rolex Watch U.S.A.

The clock is the latest example of Rolex's willingness to spend millions building its brand, despite already being the world's largest luxury watch seller and owner of one of the world's most recognizable logos.