A Mint-Condition 1958 Rolex Milgauss Sells for a Record $2.5 Million USD
The largest amount ever paid for this model at auction.
Earlier this weekend, a rare and mint-condition 1958 Rolex Milgauss sold for a record $2.5 million USD at Phillips by a representative of the Swiss luxury watchmaker themselves. The watch smashed records for the highest price paid for this watch at auction.
The pristine timepiece had doubled the already high pre-auction estimate of $1.1 million USD, however due to a bidding war between an American collector and Rolex, the price doubled. The watch originally launched in 1956 and was specifically designed for scientists. The watch is meant to withstand high levels of electromagnetism in the labs. It was reportedly commissioned by scientists at Geneva’s Conseil Européen pour la Recherche Nucléaire, aka CERN. Scientists wanted a wristwatch that could tell the time accurately even in the presence of strong magnetic fields. The final product saw the watch equipped with a soft iron cage protecting its movement. The Milgauss is capable of withstanding as much as 1,000 gauss.
The watch at auction was produced in 1958 and features a black honeycomb dial, Rolex’s signature rotating bezel and second hands shaped as lightning bolts. Rolex had discontinued its latest version of the Milgauss back in March. The anti-magnetic watch was never as popular as some of Rolex’s other models, however, it appears that watch collectors are still looking for the timepiece to add to their collection. Vintage Milgauss watches routinely hit six figures at auction, but evidently, this latest sale has set a new record moving forward.
In other watches news, Cristiano Ronaldo shows off new Jacob & Co. Heart of CR7 Baguette wristpiece.
