The Bao Dai Rolex 6062 Becomes the 2nd Most Expensive Rolex Ever Sold at Auction for $5,060,427

Source: Hodinkee

Fifteen years ago, the Bao Dai Rolex Watch sold at auction on November of 2002 for $235,000, at the time making it the most expensive Rolex watch sold at auction. 

The new price of $5,060,427 fetched on May 14, 2017 (both sold at Phillips de Pury & Luxembourg) is a 21.5 times increase, or a 140 percent return on your investment annually for 15 years.  Not too shabby. In May this made the Bao Dai the most expensive Rolex sold in the world.  However, only a few months later, in October, the Paul Newman Daytona Rolex would soundly beat the Bao Dai and fetch a price of 17.8 million at auction at more than 3 times the price - making it the most expensive watch sold in the world.  See my post on the Paul Newman.  

However, the Bao Dai held the title as the most expensive Rolex for 5 long months, setting the stage for incredible prices to be fetched in the future for Rolex Watches owned by famous personalities.

So, what makes the Bao Dai so special?

Besides being one of the most luxurious and rare Rolex timepieces in history (one of only three 6062s ever made), the Bao Dai Rolex has a unique history, tied to the man who first purchased the watch. 

It was the Spring of 1954 in Geneva Switzerland.  The Vietnamese Emperor, Nguyễn Phúc Vĩnh Thụy, was negotiating the terms of the end of his reign and the future of the realm of Vietnam.  The Indochina War was coming to an end, as was the Nguyễn Dynasty. 

Source: Wikipedia

Nguyễn was the 13^th and soon to be last emperor of the combined state of Vietnam.  He had ascended the Emperor’s throne in 1925 at the age of 12 and was given the title of Bao Dai – a title that translates as “Protector of Grandeur” or “Keeper of Greatness”.

Nguyễn was educated in France, and spent most of his life in France after his exile.  Bao Dai served as head of state under both French and American occupation.  He fought to keep Vietnam unified and was known as a reformer, both of institutions such as legal and education, but also of outdated traditions.

Bao Dai’s taste was impeccable.  He owned a rare Ferrari 375 MM Spyder, a private yacht, and a superb French villa.

He entered the famed Rolex retailer Chronomètrie Philippe Beguin and requested the most precious Rolex ever made.

Bao Dai turned down many rare timepieces before Rolex came to the rescue, finally displaying the Rolex reference 6062 in yellow gold with a black dial and diamond indexes.  This fine timepiece took on his name Bao Dai and will always be associated with the Last Emperor of Vietnam.

The Rolex 6062 is made of yellow gold and is one of only three models featuring black dials set with diamond markers.  It has other unique features, adding to its rarity.  It has five diamond numerals for even numbers and a different dial layout. 

Because of the diamond numeral at 12 o'clock, the Rolex crown was moved down, consequently forcing the "Rolex Oyster Perpetual"  to be placed below the day and month apertures. The "Officially Certified Chronometer" wording was moved from the center of the dial and placed below the moonphase dial.

The Bao Dai Rolex’s value is highly desirable due to its historical importance and ties to regal fame, but also to its iconic Rolex features including the Oyster case, a Rolex "perpetual" in-house movement and of course the rare full calendar complication featuring a moonphase display. 

This Rolex watch is also in fantastic shape, with no noticible wear marks or imperfections.  The yellow gold Rolex Jubilee bracelet adds to the effect of the watch, while not overly large, it is comfortable to wear. 

Truly a Rolex fit for a king.