(Photo credit: Sotheby’s)
Twenty-five years ago, when a descendant of British swimmer Mercedes Gleitze auctioned her 1927 Oyster watch, Rolex showed no interest in buying it. Frankly, not many others did either. The watch of Rolex’s first brand ambassador barely topped £17,000.
That could change in November, when the same watch returns to Sotheby’s as Rolex is quietly amassing a collection suited for a museum. (When Coronet asked a Rolex rep in Geneva about plans to build one, she said, “We do not comment on potential future projects.”)
Rolex’s philosophy on heritage has changed recently, with the brand often emerging as the highest bidder for historically significant watches, pieces worn by Presidents, NASA astronauts — a famous Pan Am captain whose watch was tracked down by Coronet. While Rolex never confirms such acquisitions, they have surfaced at exhibitions highlighting the brand’s history.
On Nov. 9, at Sotheby’s in Geneva, Gleitze’s Oyster is expected to reach $1.2 million, or £900,000, a 5,180% return for its first buyer, a sign that provenance continues to drive results at auction.
“[Gleitze] became Hans Wilsdorf's first brand Testimonee, forging a path followed by hundreds of distinguished sportswomen and men, explorers and artists,” Rolex said. It is hard to imagine the brand not participating in the auction.