Rolex ruled the roost in Miller & Miller Auctions, Ltd.’s online-only Luxury Watches sale, as 14 of the top 20 finishing lots were made by the renowned Swiss watchmaker. The top earner was a Rolex Ref. 116515 Cosmograph Daytona, a model first introduced in 1963 to meet the demands of race car drivers. It sold within estimate for $54,870.
All prices quoted are in Canadian dollars and include an 18 percent buyer’s premium.
The Cosmograph Daytona featured a black monobloc Cerachrom bezel in ceramic with an engraved tachymeter scale, and an 18kt Everose gold case. It was powered by calibre 4130, a self-winding mechanical chronograph movement developed and made by Rolex. The chocolate dial with black Arabic numbers accented the gold case and alligator strap.
It was a tidy sale, with just 78 curated timepieces coming up for bid, but it featured luxury makers such as Rolex, Patek Philippe, Omega, Heuer, Cartier, Hublot, Tiffany & Company and IWC, among others. Just under 200 registered bidders placed a combined online total of 2,685 bids, and by the time it was all over the auction had grossed a robust $418,959.
“The market for quality luxury watches has remained strong, with major brands holding their ground while demand for many assets has fallen,” said Justin Miller of Miller & Miller Auctions, Ltd. “Four contemporary Rolex Daytonas in the sale sold for way more than one would pay for a brand-new example from an authorized Rolex dealer, should they be so lucky to acquire one.”
To learn more about Miller & Miller Auctions, Ltd. and the firm’s upcoming auctions, please visit www.millerandmillerauctions.com.