Vintage Rolex Collection Fetches $3.7M

By JCK Online Staff -- JCK Online, 3/25/2009 8:44:00 AM

1953 stainless steel Rolex Oyster Perpetual Patrizzi & Co's auction of The Davide Blei Vintage Rolex Collection on March 22 in Milan brought in more than $3.7 million.

The total represents the hammer price, as the auction house does not charge the buyer's commission that normally adds 20-25 percent to the total. Of the 114 Rolexes in the collection, all but one sold, which was due to an Internet buyer exceeding his limit. Some 200 bidders attended the auction in Milan with almost 100 participating online.

The top lot at the sale was a stainless steel Rolex Oyster Perpetual, Ref. 6062, made in 1953 that sold for $268,637 (pictured). A pink gold "Stelline," Ref. 6062, fetched $204,597, and a pink gold Oyster Chronograph, Ref. 6032, made in 1950 sold for $105,042.

The Davide Blei collection was considered one of the most important of vintage Rolexes, particularly in terms of quality and esthetic appeal. The auction was held at the Hotel et de Milan in Milan with written, telephone, and Internet bids also accepted.

Patrizzi & Co was founded in 2008 with headquarters in Geneva and offices in Milan and New York.