Making a splash. (Photo credit: Sotheby’s)
At Sotheby’s Geneva auction on Sunday, the watch that once belonged to Rolex’s first brand ambassador sold for $1.73 million, exceeding its high estimate by half a million. The winning bidder of the Rolex “Companion Oyster” was a private collector from Asia, following fierce competition among four parties. When the same piece was sold twenty-five years ago, it fetched just £17,000.
British swimmer Mercedes Gleitze wore this very Rolex Oyster during her 1927 “Vindication Swim,” according to Sotheby’s. Rolex built an entire campaign around her achievement, publishing a full-page advertisement in the Daily Mail. For nearly a century since, the brand has described that moment as the birth of the modern Oyster and a turning point for both Rolex and watchmaking as a whole.
Still, Rolex strangely chose to pass on this one, even as it has quietly built a collection worthy of a museum. It’s unclear whether the brand took part in the bidding, but given its financial strength, it likely wasn’t outbid. It simply chose not to buy.