Robb Report

The 13 Most Expensive Rolex Watches Ever Sold at Auction, From the Paul Newman to the Unicorn

Oren Hartov
13 min read

When considering which Rolex models have hammered for the greatest amounts of money in recent years, one bumps up against an irony of the modern horological climate that simply can’t be ignored: Many of these timepieces are steel sports models that, upon their debut, were (relatively) affordable to the average buyer. At least two are highly complicated watches in precious metals, the Bao Dai and the Ref. 4113 Split-Seconds—the type of timepiece Rolex no longer really produces, with the exception perhaps of the Sky-Dweller. But many are less complex models, such as a time-only Day-Date or the Daytona, whose basic design language remains the same well into the 2020s. In examining why this is the case, some historical context is necessary:

Despite its modern status as a global luxury juggernaut whose wares can easily double as cold, hard currency, when it was founded by Hans Wilsdorf in the early 20th century, Rolex didn’t produce what was considered a luxury product. Rather, it manufactured timepieces that were meant to be used as tools—worn while climbing mountains, diving deep into the ocean’s depths and soldiering into combat the world over.

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It wasn’t until roughly the 1970s that Rolex began taking on the aspect of a luxury brand in the modern sense, one whose wares were no longer strictly utilitarian. (Solid gold dual-time watch, anyone?) In more recent years, soaring demand for steel Rolex sports models—Submariners, GMT-Masters, and Daytonas—has injected a wild twist into the story of Rolex in the 21st century that would have seemed unthinkable to someone looking for a well-built wristwatch in the 1960s. Indeed, these most utilitarian of Rolexes are so highly sought after that a customer must develop a long history of purchases with an authorized dealer in order to secure a spot on what can still be a years-long waiting list. (That, or purchase one on the secondary market—often at a significant markup.)

Perhaps it’s a modern longing for those 20th-century days of adventure—days when maps had vast, blank spaces and a sense of wonder at the world’s mysteries still remained—that has driven interest in early, steel tool watches to such dizzying heights, and especially those from Rolex. Who doesn’t want to look down at his wrist and be reminded of the feats of great men and women who wore them? Of course, there are other factors at play, such as provenance. A watch owned by someone as widely admired as Paul Newman is going to command significant money no matter what brand name is on the dial.

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