Classic 1958 Rolex Milgauss Sells For Record-Shattering $2.5 Million
Rolex bought back the rare timepiece, which was made to withstand extremely high electromagnetic levels.
Be it the newly launched Rolex Certified Pre-Owned Program or an abundance of Rolex watches sold for handsome sums at auction, it seems the watch world has Rolex fever at the moment.
And the famed watchmaker knows a good thing when it comes up: Rolex just reportedly bought back a covetable 1958 Rolex Milgauss, and for the eye-catching price of $2.5 million at a Phillips watch auction.
That hefty price tag shattered the ceiling for the sale of a Milgauss model at auction, and it’s not hard to see why Rolex might want to bring such a lauded timepiece back home (allegedly).
The watch might not have the instantly recognizable pedigree of, say, the Rolex Daytona, but that doesn’t mean it’s any less impressive, as the Milgauss was made to be worn by scientists exposed to high electromagnetic levels in labs.
Measured in the French unit “gauss,” the watch can tell time accurately in conditions up to 1,000 (or “mille” gauss), and the rest is history.
The watch is an artifact of historical importance with a “captivating story,” said Paul Altieri, the founder and CEO of Rolex reseller Bob’s Watches.
“Wearing one is like having a piece of history on your wrist,” Altieri told Maxim, noting that the now-discontinued model “stands as a testament to Rolex’s commitment to both horological excellence and technological advancement.
Altieri also noted that the timepiece sold was in “pristine condition” (impressive for a watch from the 1950s). What’s even more intriguing is the fact that, as Altieri says, the watch is very likely to end up in Rolex’s own museum.
While that watch is well out of reach for all but, well, Rolex itself, there are other ways watch enthusiasts can dive into the now-booming Rolex resale market.
In fact, Bob’s Watches sells (among other Rolex models) the Rolex Milgauss Green Crystal for a much more attainable (yet still lofty) price of about $11,900 at the moment.
There’s no telling where the market for the Milgauss (and indeed, other jealousy-inducing Rolex models) will go, but one gets the sense that when it comes to Rolex watches, the only direction is upward.
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