Hansons Auctioneers recent sale of a rare vintage Rolex for £12,500 confirms that demand for the timepieces remains strong.
The watch, discovered amongst the content of a Derbyshire deceased estate during a valuation of the property, is an iconic gentleman’s Rolex GMT Master Superlative wristwatch (below centre) from the 1960s.
The watch has an all steel case with integral bracelet and rotating bezel in two tone blue and silver with a black dial with illuminous numerals and date aperture at 3 o’clock. An added bonus was the accompanying paperwork to include guarantee certificate and other documents dated 1966.
Hansons Associate Director Adrian Rathbone commented, “The Rolex GMT Master watch was developed as an aviator watch in conjunction with Pan Am Airlines in the 1950s for pilots. GMT stands for Greenwich Mean Time, (now referred to as Coordinated Universal Time). As flying distances got longer, pilot flew through multiple time zones so the aim was to have a watch that could distinguish these time zones by the use of the fourth hand and rotating bezel.”
Adrian continued “Vintage watches, and particularly those by prestigious makers such as Rolex, Cartier, Jaeger Le Coultre, Patek Philip, Omega to name a few are enjoying some impressive results at auction. This had been put down to the low interest rates meaning people are reluctant to put their money into the banks and invest in a good quality wristwatch that they can wear and enjoy. What better way to see your investment ticking away on your wrist as it gains in value?”
Other examples of Rolex watches also performed well at the auction, including a Rolex gold Oyster Perpetual Date Superlative Chronometer wristwatch at £2,100 and an 18ct Oyster Perpetual Day Date Rolex wristwatch from the 1970s at £4,900.