Last weekend we saw an example of the complete and total idiocy within watch collecting when the so-called “Bao Dai” Rolex 6062 sold for nearly $5.2 million dollars, setting a record for a Rolex watch at auction in the process. The reason for this outrageous number was because of it’s supposed rarity and provenance. Bao Dai who was the last Emperor of Vietnam, bought this watch during the Geneva Accords in 1954 not long before he abandoned his country because he realized that actually running it would interfere with his womanizing, golf, bridge, etc. As such, he took his Rolex to the south of France to frolic among other like-minded nobodies until his death in 1997.
Good for him, but for that “provenance”, someone actually paid $5 million. Of course, this did not come without criticism. Many have spoken out against the lack of common sense shown in these prices/values, citing the Bao Dai as the clearest of examples.Read More