Why did the luxurious Rolex Milgauss fetch 2.2 million?
Rolex is trying to release watches for specific specialized target audiences – the Submariner for divers, the GMT-Master for pilots, and the Explorer for explorers, well, explorers. Omega’s Railmaster has shown that there is a market for imitation watches with strong anti-magnetic capabilities. So Rolex followed suit with a specialized watch for scientists and others who work in highly magnetic environments, such as hospitals and laboratories.
The first Milgauss was the watch number 6543. 6543, a 38 mm steel case with a rotating bezel. It featured an iron ring around the movement and an extra-thick case back to protect it from magnetic fields. The recently auctioned number 6541 uses an all-iron Faraday cage inside rather than a thicker case back. The key visual difference from 6543 is the lightning-like second’s hand. Both have a waffle dial, a toffee handset, and a replica Rolex 1080 movement inside.
These early references are poorly documented. Some known versions have solid steel bezels rather than the submarine-style rotating bezel. The number 1019 replaced the 65xx model in 1960. Only about 200 pieces were probably produced then, as they were not a huge commercial success.
This means that the Milgauss ref. 6541 is one of the rarest regular production models ever produced by Rolex. That in itself would have been enough to guarantee a spectacular auction result. But the watch that Phillips offered in March is in very good condition.
The case does not appear to have been polished, and the watch has hardly been worn. The bezel has no scratches or fading, and the dial and refurbished Oyster bracelet are immaculate. Then we have the contents of the set. The astronomical watch certificate, guarantee card, booklet, hangtag, and box are all still on the watch.
It is often difficult to put a price tag on a watch as rare as this one. The Dutch magazine Quotation recently interviewed vintage dealer Jasper Lijfering about this auction. Jasper admires this watch and has publicly shared his pursuit of it on YouTube. Coincidentally, he also recently sold a watch in excellent condition. If anyone can number the 6541, it’s him.
Simply put, there was a bidding war between the two parties. That’s it. Apparently, one of them is an American collector. And the other one? Well, it’s said to be Rolex, although the brand, in true Rolex fashion, has not commented on the matter.
Anything can happen once you get into the realm of rare replica watches like this one. It’s hard to talk about “the market” when only two parties determine the outcome. These two parties may have more influence on the market than the market has on them. Welcome to the curious world of rare collectibles!
